1. President Goodluck Jonathan will travel to London on Thursday, November 20 to preside over a meeting of Nigeria’s Honorary International Investors Council (HIIC) which opens in the British capital on Friday. In a statement by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, the HIIC, which was established in 2004, “advises the Federal Government on matters pertaining to Nigeria’s economic development,
making the Nigerian economy more competitive globally and attracting greater direct foreign investment to boost domestic industrial growth and job creation”.
2.
As at the third quarter of 2014, mobile subscriptions in Nigeria, South Africa, Kenya, Egypt, Morocco and other part of Africa have hit 880 million. According to the Seventh Ericsson Mobility Report, mobile subscription in Africa is now near the billion mark, stressing that by 2020, 90 percent of the world’s population over six years old will have a mobile phone, and smartphone subscriptions are expected to top 6.1 billion.
3.Nigeria is known mainly as an oil producer but
analysts say the nation’s industrial revolution is pinned on a shift in policy from oil to gas. According to Frank Edozie, senior special assistant to the Minister of Power, gas is of national strategic importance. “Nigeria needs 11 billion scf a day to meet power demand and addressing the shortfall calls for a different strategy. We now need to look more for non-associated gas resources for dedicated gas development,” he said.
4.
This week, on Monday evening, at the Nicon Luxury Hotel by Abuja, two giants in the flour milling industry in Nigeria met with the Federal Ministry of Agriculture and Rural Development. The meeting was the unveiling of the two brands of cassava-wheat composite flour now going into the market. It means that, going forward, branded cassava-wheat composite flour will feature in our bread. What is better referred to as Nigerian bread has made a debut, but our bakers can now buy the composite flour and bake straight without having to first go through the task of mixing cassava flour and wheat flour.
5. Undoubtedly, the international education market is increasing in scope and size. In the process, it is also gaining immense momentum.
While some parents see sending their wards abroad to acquire tertiary education as a status symbol, others are doing so owing to the increasing lack of access to Nigerian tertiary institutions. Consequent upon this, lots of tertiary institutions from the West, the Arabian Gulf and indeed other parts of the world are constantly wooing Nigerian students.
6. China Railway Construction Corp. Ltd. (CRCC)
has signed a $12 billion agreement to build a railway along Nigeria’s coast. The official construction contract which was signed with the Nigerian government on Wednesday in Abuja, is billed as China’s single largest overseas contract.
7. Professional services firm, Deloitte, has completed the Deloitte Technology Fast50 Africa Programme which recognises technological innovation and company growth on the continent.
The Fast50 Africa Programme is focused on recognising companies that have achieved the fastest rates of revenue growth in Africa over the past five years. The top 5 winners of the Fast50 Africa, according to ranking and growth rate, are Interswitch Limited, Nigeria which achieved 1226% growth, Techno Brain of Kenya with 621% growth, Everlytic of South Africa with growth of 606%, T.A Telecom of Egypt at 560% growth and Adapt IT of South Africa at 295% growth.
8.
The disbursement of the N213 billion facility arranged by the Central Bank of Nigeria (CBN) as an intervention fund for the nation’s fledging electricity market is set to begin following the signing of necessary agreements between all stakeholders. The agreements were signed in Abuja yesterday at a ceremony which had in attendance the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, her power counterpart, Prof. Chinedu Nebo, and the Governor of the CBN, Godwin Emefiele amongst others.
9. A revised 2015-2017 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) of N4.661 trillion budget estimate for 2015 fiscal year was yesterday submitted to the Senate by the Federal Government. The budget which is in line with prevailing realities is lower by N146 billion, than the earlier N4.817 trillion proposed in the MTEF and FSP submitted last month by President Goodluck Jonathan.
The N4.661 trillion budget estimate for 2015, according to the document, will be predicated on $73 per barrel oil benchmark and a foreign exchange of N162 to a dollar.
10.
National operator, Globacom, says it has received praises from Apple Inc on its creative and unique manner of attending to the demands of customers for the recently launched iPhone 6. The national operator had opened its Gloworld, on Adeola Odeku, Lagos, in the early hours of Friday to enable its subscribers who turned up at the retail outlet to purchase the handsets.
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This article was first published on 20th November 2014
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1. President Goodluck Jonathan will travel to London on Thursday, November 20 to preside over a meeting of Nigeria’s Honorary International Investors Council (HIIC) which opens in the British capital on Friday. In a statement by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, the HIIC, which was established in 2004, “advises the Federal Government on matters pertaining to Nigeria’s economic development, making the Nigerian economy more competitive globally and attracting greater direct foreign investment to boost domestic industrial growth and job creation”.
2. As at the third quarter of 2014, mobile subscriptions in Nigeria, South Africa, Kenya, Egypt, Morocco and other part of Africa have hit 880 million. According to the Seventh Ericsson Mobility Report, mobile subscription in Africa is now near the billion mark, stressing that by 2020, 90 percent of the world’s population over six years old will have a mobile phone, and smartphone subscriptions are expected to top 6.1 billion.
3.Nigeria is known mainly as an oil producer but analysts say the nation’s industrial revolution is pinned on a shift in policy from oil to gas. According to Frank Edozie, senior special assistant to the Minister of Power, gas is of national strategic importance. “Nigeria needs 11 billion scf a day to meet power demand and addressing the shortfall calls for a different strategy. We now need to look more for non-associated gas resources for dedicated gas development,” he said.
4. This week, on Monday evening, at the Nicon Luxury Hotel by Abuja, two giants in the flour milling industry in Nigeria met with the Federal Ministry of Agriculture and Rural Development. The meeting was the unveiling of the two brands of cassava-wheat composite flour now going into the market. It means that, going forward, branded cassava-wheat composite flour will feature in our bread. What is better referred to as Nigerian bread has made a debut, but our bakers can now buy the composite flour and bake straight without having to first go through the task of mixing cassava flour and wheat flour.
5. Undoubtedly, the international education market is increasing in scope and size. In the process, it is also gaining immense momentum. While some parents see sending their wards abroad to acquire tertiary education as a status symbol, others are doing so owing to the increasing lack of access to Nigerian tertiary institutions. Consequent upon this, lots of tertiary institutions from the West, the Arabian Gulf and indeed other parts of the world are constantly wooing Nigerian students.
6. China Railway Construction Corp. Ltd. (CRCC) has signed a $12 billion agreement to build a railway along Nigeria’s coast. The official construction contract which was signed with the Nigerian government on Wednesday in Abuja, is billed as China’s single largest overseas contract.
7. Professional services firm, Deloitte, has completed the Deloitte Technology Fast50 Africa Programme which recognises technological innovation and company growth on the continent. The Fast50 Africa Programme is focused on recognising companies that have achieved the fastest rates of revenue growth in Africa over the past five years. The top 5 winners of the Fast50 Africa, according to ranking and growth rate, are Interswitch Limited, Nigeria which achieved 1226% growth, Techno Brain of Kenya with 621% growth, Everlytic of South Africa with growth of 606%, T.A Telecom of Egypt at 560% growth and Adapt IT of South Africa at 295% growth.
8. The disbursement of the N213 billion facility arranged by the Central Bank of Nigeria (CBN) as an intervention fund for the nation’s fledging electricity market is set to begin following the signing of necessary agreements between all stakeholders. The agreements were signed in Abuja yesterday at a ceremony which had in attendance the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, her power counterpart, Prof. Chinedu Nebo, and the Governor of the CBN, Godwin Emefiele amongst others.
9. A revised 2015-2017 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) of N4.661 trillion budget estimate for 2015 fiscal year was yesterday submitted to the Senate by the Federal Government. The budget which is in line with prevailing realities is lower by N146 billion, than the earlier N4.817 trillion proposed in the MTEF and FSP submitted last month by President Goodluck Jonathan. The N4.661 trillion budget estimate for 2015, according to the document, will be predicated on $73 per barrel oil benchmark and a foreign exchange of N162 to a dollar.
10. National operator, Globacom, says it has received praises from Apple Inc on its creative and unique manner of attending to the demands of customers for the recently launched iPhone 6. The national operator had opened its Gloworld, on Adeola Odeku, Lagos, in the early hours of Friday to enable its subscribers who turned up at the retail outlet to purchase the handsets.
