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  • Dangote woos foreign investors to Nigeria

    Africa’s richest businessman, Alhaji Aliko Dangote, on Thursday urged foreign investors to invest in Nigeria because “the business environment is very good”. Dangote made the call at a news briefing as co-chair of the ongoing 24th World...

    • Posted May 9, 2014
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  • AMCON appoints advisers for sale of Mainstreet Bank

    The Asset Management Corporation of Nigeria (AMCON) has appointed Barclays Africa Group Limited and Afrinvest as financial advisers for the divestment of its shareholding in Mainstreet Bank Limited. The corporation also appointed Banwo and Ighodalo as legal...

    • Posted May 9, 2014
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  • Canada to invest $5bn in producing 3,000mw in Delta

    Delta State has taken the lead in the generation of renewable energy as Canada has invested $5 billionin the state to produce 3,000 megawatts of electricity. The initiative of the state government to key into the green...

    • Posted May 9, 2014
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  • Oil blocks: Indigenous firms, others to pay $11.5bn

    Indigenous oil exploration and production firms as well as their foreign counterparts would have by the end of the year paid $11.5bn for oil assets being divested in Nigeria by Shell, Total, Agip, ConocoPhillips, Eni and other...

    • Posted May 9, 2014
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  • OXFAM questions transparency in Nigeria’s agric sector

    A research conducted by OXFAM Nigeria, an International Non-Governmental Organisation (NGO) committed to ensuring food security, has questioned transparency in the country’s agricultural spending. OXFAM also alleged that less than two per cent of the population of...

    • Posted May 9, 2014
    • 0
  • Nigeria, China sign $1.3bn railway deal

    The China Railway Construction Corporation Limited has signed a contract for a $13.1 billion railway project with the Ministry of Transport for a coastal railway line that will transverse ten states in Nigeria. The length of the...

    • Posted May 9, 2014
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  • NNPC, biggest domestic gas producer – GMD

    The Group Managing Director, Nigeria National Petroleum Corporation, Mr. Andrew Yakubu, has said that in the last few years, the country has ramped up gas supply from 300 million standard cubic feet per day to 1.5billion scf...

    • Posted May 9, 2014
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  • World Bank approves $1.19bn guarantee for power sector

    The World Bank Group has approved partial risk guarantees to help power sector operators in the country to borrow up to $1.19bn to execute various projects. A statement released in Washington on Wednesday said the Board of...

    • Posted May 9, 2014
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  • FG earmarks 500,000 hectares of land for irrigation farming

    The Federal Government on Thursday said it had earmarked 500,000 hectares of land for irrigation farming as part of effort to boost food security and job opportunities for women and youths in Nigeria. The Minister of Water...

    • Posted May 9, 2014
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  • No regrets in power sector privatisation – FG

    Despite the prevailing erratic supply of electricity in most parts of Nigeria six months after the sector was privatised, the Federal Government on Thursday declared that it had no regrets for handing over the industry to private...

    • Posted May 9, 2014
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  • NUEE, NLC to shut down Eko Electricity Distribution Company

    The Lagos State council of the National Union of Electricity Employees (NUEE) and the Nigeria Labour Congress (NLC) will today picket Eko Electricity Distribution Company in Marina, Lagos. The industrial action is in protest against management’s anti-labour...

    • Posted May 9, 2014
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  • NSE All-Share Index improves by 0.14%

    A former Chairman of PDP in Osun State, Alh. Fatai Akinbade, has declared his intention to run for the governorship election in the state on the platform of Labour Party (LP). Akinbade, who made the declaration on...

    • Posted May 8, 2014
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  • Dangote to invest $2.3bn in north Nigeria

    Nigerian businessman Aliko Dangote has said that he will invest $2.3bn (£1.35bn) in sugar and rice production in the north of the country. Amid international concern about terrorism in the region – highlighted by the kidnap of...

    • Posted May 8, 2014
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  • CBN, NIGCOMSAT drafts MoU on internet provision for cashless policy

    The Central Bank of Nigeria (CBN) and NIGCOMSAT are drafting a memorandum of understanding (MoU) to provide effective Internet services to fast-track the cashless policy introduced by the apex bank. Mr Aaron Yaduma, Head of CBN’s Shared...

    • Posted May 8, 2014
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