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Posts Tagged "lagos"

HomePosts Tagged "lagos"

Stanley Opara The Lagos State Government has said it controls over 90 per cent of foreign exchange inflows into the country. The Commissioner for Finance, Mr. Akinyemi Ashade, said this in a presentation made to capital market stakeholders in Lagos titled: ‘Funding Lagos State Government’s Economic Agenda through Debt Capital Market’. He said with over […]

By Oludare Mayowa LAGOS, Aug 14 (Reuters) – Nigeria’s Lagos state on Monday raised 85.14 billion naira ($271 million) in 7- and 10-year bonds to fund infrastructure and environmental projects, its commissioner for finance said on Monday. The bond consists of 46.37 billion naira 7-year debt at a 16.75 percent rate and 38.77 billion naira […]

Lagos State governor, Mr. Akinwunmi Ambode, yesterday, said about $60million would be pumped into the ongoing development of the Lekki Free Trade Zone (LFTZ) within the next six months. The governor, who spoke when he met with stakeholders at the Zone, assured that he remains committed to addressing the challenges and ensuring the project is […]

The Lagos State Government has said that its internally generated revenue (IGR), increased by N36.9 billion to N436.3 billion in 2016 from N399.4 billion in 2015. The Commissioner for Finance, Akinyemi Ashade, said this yesterday at a press briefing to mark the second year anniversary of Governor Akinwumi Ambode’s assumption of office. Ashade said that […]

The Lagos State Government is to invest 500 million dollars on redesigning and completion of housing units at Ilubirin and Ijora-Badia. The state’s Commissioner for Housing, Mr Gbolahan Lawal, made the disclosure in an interview with the News Agency of Nigeria on Wednesday in Lagos. Lawal said the investment would be done in collaboration with […]

Lagos State has emerged as the fifth largest economy in Africa, consequent upon which, Governor Akinwunmi Ambode, disclosed that his administration is in the process of setting up an Economic Management Team, EMT, comprising distinguished individuals from the private sector and the public sector to manage and improve the feat. Ambode spoke on Tuesday at […]

  • dollar to naira

Lagos, Kaduna and Edo, with a combined foreign debt profile of $1.84bn, are the most indebted states of the federation as far as subnational foreign debts are concerned, investigation has revealed. Statistics obtained from the Debt Management Office in Abuja on Wednesday showed that the 36 states of the federation and the Federal Capital Territory […]

Just seven days after slashing Nigeria’s Gross Domestic Product (GDP) growth rate to 1.5percent for 2016, Fitch Ratings has downgraded Lagos State on its credit ratings. On June 23, Fitch revised Nigeria’s credit rating to “B+; outlook stable”, adding that GDP growth will fall to 1.5percent in 2016 from 2.8percent in 2015. On Thursday, June 30, […]

Ejiofor Alike The two wells in Aje oil field located in Oil Mining Lease (OML) 113, offshore Lagos, have tested in excess of 10,000 barrels of oil equivalent per day, Panoro Energy, an independent oil and gas company based in the United Kingdom, has announced. After spending over two decades exploring for hydrocarbon resources off […]

Gboyega Akinsanmi About 24 hours after it unveiled its plan to construct Oshodi Transport Interchange at a cost of $70 million, the Lagos State Government on Wednesday signed a memorandum of understanding with a consortium of investors to fund and construct the 4th Mainland Bridge. The consortium, which agreed to fund and construct the bridge […]