|Economy|
Oil Price Drop, Production Losses Cut Monthly Revenue to N502bn: The slide in the price of crude oil as well as production losses occasioned by shut-ins and the shut-down of trunk lines at various oil terminals resulted in a N99.55 billion drop in Nigeria’s September revenue to N502.09 billion from the N601.64 billion generated in the previous month. Non-mineral revenue also dropped to N127.35 billion compared to N159.73 billion in August partly because some blue chip companies had made payments and returns in September. Source: Thisday

|Infrastructure|
AfDB to Finance Lekki Port with $150m: The Chief Financial Officer, Tolaram Group, Mr. Sandeep Parasramaka, has said the African Development Bank, one of the financiers of the Lekki Seaport project, has obtained approval of its board to commit $150m to the project. Parasramaka said, I can confidently tell you that the African Development Bank has recently obtained board approval for $150m funding for the project, while the European Investment Bank, which is very much eager about investing in the project, has also got principal board approval, which will see them support the project with funds also. He added that a few more international banks, which were in the process of securing their board approvals, were also going to join the list of investors in the project. Source: Punch

Power Generating Plants Perform Below 30% Capacity – FG: Eleven months after being run by private operators, some power generating plants in the country are performing below 30 per cent of their installed capacities, the Federal Government has said. The Minister of Power, Prof Chinedu Nebo said, of the original six power plants that were privatised, not one is functioning up to 70 per cent of installed capacity. Some are functioning at less than 30 per cent capacity due to gas shortage. To make matters worse, many of the gas infrastructure that supply these power plants have come under attack by vandals with various agendas. Source: Punch

|Oil & Gas|
NLNG Generated $30bn in 25 Years – MD: Since its incorporation in 1989, the Nigeria LNG Limited has generated over $30bn revenue for the country, the Managing Director and Chief Executive Officer of the company, Mr. Babs Omotowa, has said. Omotowa said the achievement was in line with the motives for incorporating the company, which are to help end gas flaring and also monetise Nigeria’s vast natural gas resources. Source: Punch