UK-based integrated energy development and investment company, Konexa, has achieved financial close on a combined $18 million investment to establish private renewable electricity trading platform and connect Nigeria Breweries Plc, its first client, to the grid. The funding for the renewable electricity project, which is supported by climate-centric blended finance fund manager Climate Fund Managers (CFM) […]
Infrastructure & Capital Projects
Keyamo Leads Nigerian Team To France On Investment Drive
The Minister of Aviation and Aerospace Development, Festus Keyamo, has arrived France on a four-day Nigeria-France Bilateral Business Forum, aimed at strengthening Franco-Nigeria bilateral relations and attracting French private sector investment to Nigeria’s aviation sector. A statement issued by the Minister’s Media Adviser, Tunde Moshood, indicated that the minister had already presented a detailed Nigeria […]
767 Manufacturing Firms Shutdown In 2023 – MAN
As the policy reforms-induced current macroeconomic whirlwinds in Nigeria’s business landscape continue unabated, the Manufacturers Association of Nigeria (MAN) has opposed the planned implementation of the Expatriates Employment Levy (EEL) by the Federal Government, saying implementing the fiscal measure could aggravate the crisis in the real sector. The association in a statement signed on Tuesday […]
MainOne Lands 2Africa Submarine Cable In Akwa Ibom State
MainOne, an Equinix Company and a leading West African data center and connectivity solutions provider, has announced the historic landing in Qua Iboe, Akwa Ibom State, of the first and only submarine cable system in Nigeria outside of Lagos. The initiative marks a milestone in the company’s drive towards enhancing broadband connectivity and driving economic […]
FG, UK Firm Seal MoU On Abuja Tech City Project
The Federal Government, through the Federal Ministry of Innovation, Science and Technology, has signed a Memorandum of Understanding (MOU) with Domineum/Edenbase UK for the development of Abuja Tech City. The Minister of Innovation, Science and Technology, Uche Nnaji, who signed the agreement on behalf of the government in Abuja, said the collaboration laid the foundation […]
Nigeria’s Active Internet Subscriptions Rise By 5.81% In Q4 2023
….As Lagos Maintains Lead in Internet, Voice Subscriptions The National Bureau of Statistics’ (NBS’) at the weekend reported that Nigeria’s active internet subscribers rose to 163,838,439 in Q4 2023 from 154,847,901 reported in the corresponding quarter of 2022, indicating that internet a 5.81% year-on-year increase while on a quarter-on-quarter basis, the number grew by 2.29%. […]
British Envoy Lauds Ogun State Govt On Industrialization Drive
The British High Commission in Nigeria has commended the Ogun State Government on its aggressive industrial revolution drive, which has turned the state into preferred choice for local and foreign investors over the past few years. The Deputy British High Commissioner, Mr. Jonny Baxter, gave the commendation on Friday when he led a team from […]
AfDB Commits $80Mn To Ekiti Knowledge Zone Project
The African Development Bank has committed $80 million in loan financing to the Ekiti Knowledge Zone (EKZ) project aimed at transforming the region into a hub for digital innovation and knowledge economy. Spanning 40 hectares of land, the Ekiti state-led pioneering special economic zone project is designed to foster linkages between educators, researchers, innovators, entrepreneurs, […]
Nigeria, W/Bank Activate ‘Broadband For All’ To Deepen Fibre Connectivity
The Federal Government and the World Bank Group have partnered for improved fibre connectivity for telecoms consumers nationwide. The collaboration was disclosed at a stakeholders’ engagement with the catchphrase ‘Broadband for All’, which recently held in Abuja. The Minister for Communications, Innovation and Digital Economy, Dr. ’Bosun Tijani, whose ministry co-organised the forum, noted with […]
AfDB Board Approves $10Mn For Africa’s Green Transition Projects
The Board of Directors of the African Development Bank Group (AfDB) has approved the proposal to take an initial stake of up to $10 million in the “Alliance for Green Infrastructure in Africa – Project Development” (AGIA-PD)” Fund as part of its investment supports for successful green transition of African countries. A news report from […]