Analysts at Standards and Poor (S&P) has in the latest Global Commodity Insights reported that Nigeria had become the largest importer of refined petrol in Africa from Europe as the shipments of the commodity to the continent continue increase. The analysts noted also that crude oil shipments from the Middle East to Europe had significantly […]
The Federal Government on Tuesday met with a consortium of financial institutions that had expressed interest in providing funds towards the completion of the 284 +103km Kano-Maradi rail project. Receiving representatives of the Take-Out facilities Lenders for the Kano-Katsina-Jibiya-Maradi (Niger Republic) Single – Track Standard Gauge Railway project in the Ministry of Transportation in Abuja, […]
The Federal Government has revved up its investment and policy moves to increase electricity megawatts from 4000 megawatts (MWTs) to 6,000 WHTs within the next three to six months to improve power supply. The Minister of Power, Mr Adebayo Adelabu, who made this disclosure on Monday during his meeting with the heads of power agencies […]
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) […]
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 […]
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, 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 […]
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 […]
….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%. […]
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 […]