NNPC moves to revive $29.8 billion Brass, Olokola LNG projects: The Nigerian National Petroleum Corporation (NNPC) Limited has resumed discussions with investors towards bringing back two Liquefied
Natural Gas (LNG) projects, Brass and Olokola LNG projects. The Olokola gas project in Ogun State, valued at $9.8 billion, and the Brass LNG plant in Bayelsa State, estimated at $20 billoin, together amount to $29.8 billion, positioning them among the largest gas infrastructure investments in Nigeria. https://nairametrics.com/2024/09/20/nnpc-moves-to-revive-29-8-billion-brass-olokola-lng-projects/

NNPC, TotalEnergies kick-off $550m Ubeta field investment: The Nigerian National Petroleum Company Limited has kicked off the $550 million upstream gas project signed with TotalEnergies on the
development of the Ubeta field. The presidential aide said the directives are aimed to immediately unlock up to $2.5 billion in new oil and gas investments in the country. Responding, the U.S. Assistant Secretary of the State Department's Bureau of Energy Resources, Geoffrey Pyatt, said the dialogue was apt and strategic.
https://punchng.com/nnpc-totalenergies-kick-off-550m-ubeta-field-investment/

Analysts Predicts Investments in Africa's Upstream Oil Sector to Hit $58Bn: With a large share of Africa's proven oil and gas reserves unexploited and
regulatory reforms strengthening the business environment across the continent, Africa has emerged as a highly competitive investment destination. “In Africa, we have seen $58 billion invested in upstream activities in 2019 and it went down to $20 billion in 2020. We hope to see it hit $58 billion in the coming years again.” said Atul Arya. https://orientalnewsng.com/analysts-predicts-investments-in-africas-upstream-oil-sector-to-hit-58bn/

Nigeria has secured over $1 billion investment oil and gas sector: Olu Verheijen, the special adviser to President Bola Tinubu on energy, has announced that so far Nigeria has attracted over $1 billion in investment in the oil and gas sector across different value chains. She added that apart from the $1 billion investment, the country is also expecting multi-billion dollar investment in deepwater exploration projects by the middle of 2025. https://nairametrics.com/2024/11/06/nigeria-has-secured-over-1-billion-investment-oil-and-gas-sector-olu-verheijen/

INFRASTRUCTURE

Afreximbank approves $370m to boost infrastructure in Nigeria, others: African Export-Import Bank (Afreximbank) has approved over $370 million to boost infrastructure spend in Nigeria and other African countries. The deals include: a $300-million Global facility agreement to Hassan Allam of Egypt, a $45-million term sheet to Pavifort Construction of Sierra Leone and a $25-million term sheet to Africa Cement of Burkina Faso. https://businessday.ng/news/article/afreximbank-approves-370m-to-boost-infrastructure-in-nigeria-others/

Investment experts walk for sustainability: The 400 investment professionals, who participated in the maiden edition of the Sustainability Walk were: members of CFA Society Nigeria, Association of Securities Dealing Houses of Nigeria (ASHON), Fund Managers Association of Nigeria (FMAN), Pension Fund Operators Association of Nigeria (PenOp), Institute of Capital Market Registrars (ICMR), Association of Issuing Houses of Nigeria (AIHN). Investment experts walk for sustainability – The Nation Newspaper (thenationonlineng.net)

HEALTY SECTOR

Zulum, pharmacists urge robust investment in healthcare transformation: Borno State Governor, Babagana Zulum and leaders of the Nigeria Academy of Pharmacy are urging robust investment in healthcare transformation which they said remains a powerful driver of national development.“Healthcare is one of the most critical pillars of any society, serving as a foundation for individuals’ well-being and economic growth. https://punchng.com/zulum-pharmacists-urge-robust-investment-in-healthcare-transformation/

Ekiti Govt Revokes Odu’a Investment’s Abandoned 8,283 Hectares Land Over Security Threats: The Ekiti State Government has revoked 8,283.570 hectares of land at Oke-Ako
Community in Ikole Local Government, belonging to the Oodua Investment Company Limited over security threats due to abandonment. The government has also earmarked N146.3 million as the first tranche of compensation to forty claimants whose crops and economic trees are on the excised portion of the Oodua Company land. Ekiti Govt Revokes Odu’a Investment’s Abandoned 8,283 Hectares Land Over Security Threats – AgroNigeria

Islamic Development Bank grants $10m to WHO for Health Impact Investment: The Islamic Development Bank (IsDB) has committed a $10 million grant to the World Health Organization (WHO) to support the Health Impact Investment Platform (HIIP), bolstering its mission to strengthen primary healthcare systems worldwide. Announced on November 12, 2024, during the UN Climate Change Conference (COP29) in Baku. COP29: Islamic Development Bank grants $10m to WHO for Health Impact Investment – Nairametrics

EDUCATION

Infrastructure, education top as Makinde proposes N678bn for Oyo in 2025: Governor Seyi Makinde of Oyo State on Wednesday presented a proposed budget estimate of N678 billion to the State House of Assembly for legislative consideration and approval for the 2025 fiscal year. Capital expenditure would gulp N349, 29 billion, representing 50.59% while N325.57billion would be allocated for the recurrent expenditure, representing 49.41% of the budget. Infrastructure, education top as Makinde proposes N678bn for Oyo in 2025 – Businessday NG

Don, media expert seek more investment in education: Prof. Grace Oloukoi of Lead City University, Ibadan, a media expert, Olawale Ogunbusola, Chief Nursing Officer at University College Hospital (UCH), Ibadan, Mrs. Joy Taiwo and others have urged the government to prioritise investment in education. https://thenationonlineng.net/don-media-expert-seek-more-investment-in-education/

AGRICULTURE

Stockbrokers Laud Ellah Lakes’ Strategic Investment in Palm Plantation and Livestock: Stockbrokers have commended the management of Ellah Lakes Plc for its strategic investment in palm plantation and livestock following a recent visit to the company’s facilities in Iguelaba Community, Edo State. From June 24 to September 19, 2024, Ellah Lakes was the 17th most traded stock on the NGX, with 572 million Ordinary Shares traded in 3,097 deals, valued at N1.72 billion. Stockbrokers Laud Ellah Lakes’ Strategic Investment in Palm Plantation and Livestock – Proshare

Nigeria Screens More Investors After N122Bn Disbursement for Gas Expansion.  Nigeria is assessing the capacity of new investors that will benefit from the Midstream and Downstream Gas Infrastructure Fund (MDGIF) intervention for gas business deve- lopment, says Minister of State Petroleum Resources (Gas) Ekperikpe Ekp. The Minister confirmed ongoing screening of new investors after Government signed a contract for the disbursement of N122 billion to the business organizations. 
https://orientalnewsng.com/nigeria-screens-more-investors-after-n122bn-disbursement-for-gas-expansion/

ExxonMobil mulls $10bn Nigerian offshore oil investment, govt reports: ExxonMobil is reportedly Mullin investing as much as $10 billion in Nigeria's  offshore oil industry over the coming years, this is even as it has finalized the  sale of shallow water assets to a local firm, the country's govern- ment said.  The company also proposed to spend $2.5 billion annually to boost oil output by 50,000 bpd over the next few years, Shettima said. https://energydayng.com/2024/10/01/exxonmobil-mulls-10bn-nigerian-offshore-oil-investment-govt-reports/

AGRICULTURE AND ALLIED

SERVICES SECTOR

17 states tap $546m LivestockSupport Project: At least 223,097 profiled beneficiaries from 17 states have received a share of the $546m Livestock Productivity and Resilience Support Project (L-PRES) Subsidiary Loan Agreement (SLA), an initiative of the Federal Ministry of Agriculture and Food Security. The L-PRES project was launched with a mission to improve livestock productivity, commercialization, and resilience across Nigeria. Key components of the project include the Institution and Innovation System Strengthening (US 95 million), Animal Husbandry and Advisory Support Services (US 40 million), Animal Health Services (US 40 million), Livestock Value Chain Enhancement (US 275 million), Crisis Prevention and Conflict Mitigation (US$100 million), and Natural Resources Management and Pasture Improvement (US$70 million),” Sanusi Abubakar, the national project coordinator of the project said at a media workshop in Abuja Monday.
https://businessday.ng/agriculture/article/17-states-tap-546m-livestock-support-project/

Prioritize Investment in Agriculture for Solution to Nigeria’s Economic Challenges’-TMSG: The Tinubu Media Support Group (TMSG) has urged President Bola Tinubu to prioritize investment in agriculture as a solution to Nigeria’s present economic challenges, “We must devote a significant budget to agriculture, at least ₦5 trillion annually,” he added. The TMSG further encouraged all Nigerians to rally behind the government’s efforts to stimulate economic growth through agriculture, noting that this is a pathway to overcoming inflation and other economic pressures currently affecting the country. https://agronigeria.ng/prioritize-investment-in-agriculture-for-solution-to-nigerias-economic-challenges-tmsg/

INFRASTRUCTURE SECTOR

Asiko Energy, 5 others benefit from FG’s N122bn gas infrastructure fund: The federal government through the Ministry of Petroleum (gas) on Monday disbursed a total sum of N122 billion to six companies in a bid to boost the development of Compressed FAMADEC Energy Limited, Ibile Oil and Gas Corporation, Nsik Oil and Gas Limited, Rolling Energy Limited, and Topline Limited. https://businessday.ng/energy/oilandgas/article/asiko-energy-5-others-benefits-from-fgs-n122bn-gas-infrastructure-fund/

CNG initiative unlocks $175m in private investment: Minister of Information and National Orientation, Mohammed Idris, said the Federal Government’s Compressed Natural Gas (CNG) initiative has opened up $175 million in private sector investments over the past year in an attempt to significantly reduce the high cost of transport and commuting in Nigeria. https://thenationonlineng.net/cng-initiative-unlocks-175m-in-private-investment/

HEALTH SECTOR

Global health coalition invests over $250 million in Lassa fever
vaccine research: The Coalition for Epidemic Preparedness Innovations (CEPI) a global health coalition, has disclosed that it has invested over $250 million in Lassa fever studies since 2017, with the aim of developing avaccine for the disease. This means investment in the vaccine trials, but also in the Enable research programmed to really get critical data. https://nairametrics.com/2024/10/03/global-health-colition-invests-over-250-million-in-lassa-fever-vaccine-research/

EDUCATION SECTOR

Taxing the Future: The uncertainty surrounding tax liability for all private educational institutions in Nigeria: The major question left unanswered after the enactment of the Finance Act of 2021 has been whether all private educational institutions in Nigeria are now liable to pay company income tax to the federal Inland Revenue service of Nigeria. As a consequence, the profits of companies that provided educational services of a public character were exempted from Companies Income Tax, notwithstanding the dispute this position created that led to litigation between American International School Lagos (AIS) vs Federal Inland Revenue Service (FIRS) in 2014 and another case between Best Children International School Limited (BCIS) vs FRIS in 2018. https://businessday.ng/news/legal-business/article/taxing-the-future-the-uncertainty-surrounding-tax-liability-for-all-private-educational-institutions-in-nigeria/

SEC, NGX empower retail investors with financial education: The Securities and Exchange Commission and Nigerian
Exchange Group have reiterated their commitment to empowering retail investors through financial education. That was part of activities that took place during the global IOSCO World Investor Week, which took place from October 7 to 13. In a series of events, including a financial literacy seminar at Pan-Atlantic University and the NGX Retail Investor Clinic, SEC and NGX engaged participants on investing fundamentals, capital market strategies, and the growing role of technology and sustainability in modern finance. The Director-General of SEC, Emomotimi Agama, emphasised the need for investor protection, saying, “Our mission is to safeguard investor interests while promoting informed participation.” https://punchng.com/sec-ngx-empower-retail-investors-with-financial-education/

OTHER SECTOR

FG to start $750 million World bank rural
electrification project next month: The Rural Electrification Agency (REA) has disclosed it is starting a new rural electricity project next month financed by the World Bank to the tune of $750 million to provide electricity to 17.5 million Nigerians. The Managing Director of the REA, Engr. Abba Abubakar Aliyu disclosed this during an interview on Channels Television's Sunrise daily program. According to him, the Distributed Renewable Energy Scale up project is targeted at providing electricity for up to 17.5 million Nigerians using renewable energy source. https://nairametrics.com/2024/10/03/fg-to-start-750-million-world-bank-rural-electrification-project-next-month/

Is the Nigerian energy sector still a viable investment niche?: Historically, the energy sector has been a big bet for investors and generically, it has been an expanding sector globally since the industrial revolution. With coal overcoming the initial energy inertia and putting fossil fuel on the map, we have seen energy sources gradually take a shift towards more sustainable and climate friendly alternatives. We are a long way from Watts steam powered engines and currently, the bulk of industrialization and transportation is still powered by diesel, gasoline and gas. https://nairametrics.com/2024/09/30is-the-nigerian-energy-sector-still-a-viable-investment-niche-as-experts-predict-gasoline-demand-peaking-in-2025/