Nigeria is expected to account for about 60 percent of the projected investments in power in the West African sub-region by 2040, the International Energy Agency, IEA, has said.
In its latest report, IEA said that bringing the electrification rate in sub-Saharan Africa up from 32 percent today to 70 percent in 2040 is estimated to cost about $205 billion in capital investment, less than one-fifth of total power sector investment in the region.
Read more @ SweetCrude Reports
Investors in the oil and gas sector of Nigeria’s capital market have lost N38.806 billion in the past three weeks following market depression that has pervaded the stock market, owing to the steep drop in the prices of crude in the international market which necessitated the devaluation of the naira.
Investigationshowed that the oil and gas sub-sector recorded a loss of N38.806 billion or 5.4 per cent to close at N713.218 billion in market capitalisation on January 26, 2015, as against the closing figure of N752.024 billion on December 31, 2014.
Read more @ New Telegraph
It is generally accepted that firms that have huge debt in their capital structure may have incurred such loans for the purpose of assets acquisition aimed at aggressively expanding operations, and also for market penetration.
Read more @ Businessday
