ECONOMY

Nigeria Wants to Get Two New Satellites. Here’s Why.

The Federal Government plans to procure two new satellites for the country. This will bring the number of satellites launched by the country thus far to seven. There have been criticisms from naysayers, who have cited the apparently exorbitant cost

South Korean Firm to Build 550 Megawatt Power Plant in Cross River State

A gas-fired power station with the potential to supply 550 megawatts of electricity is on the cards for Cross River State. The South Korean firm, Kingline Integrated Power Development Limited, plans to build a power generating facility in the southern

ExxonMobil Discovers 1 Billion Barrels of Oil in Bayelsa

American oil and gas company, ExxonMobil says it has discovered about 1 billion barrels of oil off the coast of Bayelsa State, in Nigeria’s far south. An e-mailed statement from the firm describes the find as “significant”, and suggests that

Business Profile: Waste Matters Nigeria Limited

Waste management is a big issue in Nigeria. Every day, thousands of tons of waste are generated from homes, businesses, and on the go, by individuals and groups of people all over the country. Unfortunately, the capacity to adequately deal

Why Airbus Plans to Set Up Office in Nigeria

European aircraft manufacturing giant, Airbus announced last week that it plans to set up its office in Nigeria. The company is targeting a wider presence across emerging markets, which will account for an increasing amount of demand for airplanes in

Institute of Agricultural Research, Zaria, Develops Pod Borer Resistant Variety of Cowpea

The Institute of Agricultural Research (IAR), Zaria, has developed a variety of cowpea (beans) which is resistant to attacks by pod borers. The new variety of cowpea could significantly reduce the amount of wastage of beans stocks recorded on an

Bionas’ $2.5 Billion Investment Could Bring Nigeria’s Bio-Fuel Industry to Life  

Today, the streets of Lagos, Abuja, Port Harcourt and Kano are traversed by vehicles that guzzle fossil fuels and belch greenhouse gases. Nigeria doesn’t emit as much environmentally unfriendly gas as the world’s biggest polluters, but its growing population, with

Federal Government to Establish New Agricultural Bank

The Federal Government plans to set up a non-profit, agri-centered bank which would be run for the purpose of “meeting the financing needs of the country’s agricultural sector”. Minister of Agriculture and Rural development, Audu Ogbeh, disclosed this while receiving

BannerGas Unveils Door-To-Door LPG Delivery and Autogas Conversion

Nigeria’s need for cleaner and more efficient alternatives to traditional fuels has grown as its population has expanded. Energy consumption across the country has soared, even as concerns about the negative effects of the fuels used to satisfy domestic and

General Electric Plans to Invest $150 Million in Nigeria

A senior official at the American industrial giant General Electric has confirmed that the American industrial giant, General Electric, plans to invest about $150 million in development projects in Nigeria. The plan, which was alluded to by President Muhammadu Buhari

BannerGas Introduces Its Door To Door Delivery Product and LPG Auto Conversion

Banner Energy Limited on Thursday, the 29th of September 2016, unveiled its BannerGas Franchise Retailers Scheme, a door-to-door delivery product range, along with its LPG Auto Conversion solutions, as well as the company image rebranding, at its maiden Franchise Dealers

Rice Production in Nigeria: Kebbi to the Rescue

As far as we can tell, Nigerians’ love for rice has not been destroyed by the upward spike of the commodity’s price. The plates on dining tables probably contain a smaller number of rice grains than they used to, but

World Bank Initiates Solar Energy Programme for Industry in Nigeria

An intervention by the World Bank through a large scale power initiative could see the burden of high energy costs borne by businesses in Nigeria being somewhat lightened. The global financial institution has revealed that it plans to introduce a

Business Profile: Farm Café

Almost every industry has a robust online presence in Nigeria except a few. Prominent amongst this few is the agriculture industry. But it seems someone is doing something about this. Introducing Farmcafeng.com, this is an online information platform for agriculture

Why Agriculture in Nigeria Is Growing, Despite the Recession

THE National Bureau of Statistics on Wednesday released data on Nigeria’s Gross Domestic Product for the second quarter of 2016. Overall, the picture painted by the document was, to put it mildly, less than savory. The headlines were almost unified

Five Things You Should Know about Nigeria’s First Integrated Produce City

ON Monday, August 29, the previously little-known Ugbokun community in Edo State played host to a ceremony marking the commencement of work on a project which would see it transformed into a major centre for Agro allied industrial activity in

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