ECONOMY

MTN Donates 25 Security Vans to Lagos

MTN Nigeria has donated 25 Hilux patrol vans to the Lagos State Government for security and to taper crime in the state. The Chief Executive of MTN, Micheal Ikpoki, presented the vans at the Government secretariat in Ikeja, Lagos.

UBA Appoints New Executives, Announces Project Alpha

United Bank for Africa Plc (UBA), has appointed new executives and announced the launch of Project Alpha – which the bank says is the new focus of its strategic transformation. According to the Bank, “Project Alpha is a 3 year

PAVE Partners CTI-PFAN on Clean Energy Businesses in Nigeria

Climate Technology Initiative Private Financing Advisory Network (CTI PFAN) is set to commence operations in Nigeria, the Pan African Vision for the Environment (PAVE) has disclosed. PAVE defines PFAN as a multilateral, public-private partnership initiated by the CTI in cooperation

Turkish Investors eye Nigeria, Plan Exhibition

Turkish Export Products Exhibition 2013 is set to hold at the Convention Centre, Eko Hotel & Suites Victoria Island from September 3rd to 5th. The exhibition is organised by Merydien International Fair Ltd and Turkish Investors. It will, according to

Aftermath of Stowaway Incident: FAAN Announces New Security Measures

After the embarrassing stowaway incident, last week, by a Nigerian teenager, on a flight from Benin to Lagos, the Federal Airports Authority of Nigeria (FAAN) has announced new security measures, aimed at eliminating loopholes that gave the opportunity for the

Dangote Group Seeks $3.3 Bn to Finance Refinery Project

Dangote Group has announced that it would borrow $3.3 billion to finance a $9 billion oil refinery and petrochemical complex in Nigeria. The Group said it was seeking a further $2.25 billion from development funds for the project, into which

Nigeria Will Complete 11 Power Plants by 2014 – Minister

The Federal Government is currently constructing 11 power plants which will be completed before the second quarter of 2014, Information Minister, Laraban Maku has said. He said that “seven out of the power plants have so far been completed, while

Osun State Government Commissions Garment Factory

The Osun State Government has launched a modern garment factory. The factory, ‘Omoluabi Garment’ which cost ₦1.2 billion, would be producing 50,000 uniforms per day at full capacity. Ogbeni Rauf Aregbesola, Osun State Governor, explained at the commissioning that the

Nigeria Gets N139 Bn from World Bank to Boost Agriculture – Minister

Nigeria has received ₦139.5 billion from the World Bank in the last two years to boost agricultural development, Agriculture Minister, Akinwumi Adesina, said at the concluded All Nigerian Editors’ Conference in Asaba. He said, “Nearly N62 billion of the amount

Nigeria Signs $3.7 Bn Coal Power Project with Chinese Firm

HTG-Pacific Energy Consortium and The Federal Ministry of Mines and Steel Development have signed a $3.7 billion deal for a coal power project at Ezimo Coal Block in Enugu State and a 1,000 megawatts coal power generating plant. This will

United States President Invites President Jonathan for Talks

The United States President, Barack Obama has invited President Goodluck Jonathan for talks in Washington, according to a letter delivered by Wendy Sherman, United States Under-Secretary of State for Political Affairs and the lead representative of the United States to

Camair-Co to Begin Flight to Abidjan via Lagos

Camair-Co, the national airline of Cameroon is set to expand its West African reach with a new flight schedule to Abidjan, Ivory Coast via Lagos beginning 23 September 2013. This was disclosed by Job Ikose Mbenda, Camair-Co International Sales Manager

Power Generation in Nigeria Drops to 2,628.6MW, Minister Says

“Total grid generation as at 6am on Saturday is 2,628.6MW. With this low level generation, management of the grid is currently a big task, necessitating a nationwide load shedding,” Minister of Power, Prof. Chinedu Nebo said in a statement at

Privatized Power Holds Opportunity in Nigeria, First Bank Research Reveals

A research by First Bank has revealed that privatized power in Nigeria, holds opportunity for investors and consumers. In its Research Weekly publication, the Bank submitted that “the inherent potentials in power distribution business in Nigeria was also based on

External Financial Flows to Nigeria and the Rest of Africa Exceeds $200 Billion

A report by African Economic Outlook has said that “external financial flows to Nigeria and other African countries are projected to increase by 9.5 per cent to a new record of $203.9 billion by end of 2013, compared with $186.3

Better Vegetable-Growing Opportunities for Nigerian Women

Growing and gathering vegetables is an extremely important livelihood activity for women in rural Nigeria, who make up a majority of the rural labour force. Vegetables are major foodstuffs for poor rural women and their families, as they often cannot

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