Investment

Showing: 41 - 50 of 143 Articles
Investment Maritime/Shipping Oil and Gas

NNPC not yet selling Dangote’s petrol yet – Dangote

Lagos, Sept. 5, 2024 – The Nigerian National Petroleum Company Limited (NNPCL) has not started lifting petrol from Dangote refinery. Anthony Chiejina, the Chief Branding and Communications Officer of Dangote Group, said this in a statement on Thursday, urging Nigerians to disregard reports that NNPC was already selling Dangote’s product.  He said that government had not announced the price for Dangote’s petrol as they were yet to finalise agreements with the NNPC on the appropriate price of its product.  “Our attention has been drawn to a headline “NNPC lifts Dangote …

Foreign Investment Politics Trade

Nigeria to strengthen partnership with Indonesia

Bali (Indonesia), Sept. 2, 2024 – The Federal Government of Nigeria has expressed its readiness to strengthen relations with Indonesia. Mohammed Idris, the Minister of Information and National Orientation, made the pledge at the ongoing second Indonesia-Africa Forum in Bali, Indonesia. He said there were lots the two countries could gain from untapped economic potential between both countries. According to a statement by Suleiman Haruna, a Deputy Director, Press, in the ministry, the minister is representing President Bola Tinubu at the meeting. The statement reads in part: “The Minister reiterated …

Foreign Investment

US to support Nigeria on solar power projects

Abuja, Aug. 16, 2024 – The United States has offered to support the Federal government on its solar power projects. Bolaji Tunji, the Special Adviser, Strategic Communication and Media Relations, disclosed this in a statement on Friday. He said Richard Mills, the US Ambassador to Nigeria, confirmed the support in Abuja on Wednesday during a meeting with Adebayo Adelabu, Nigeria’s Minister of Power, “You have the support of the US government on the project,” the ambassador had said. The envoy invited the minister to an upcoming energy summit in Washington …

Investment

ECOWAS to pool $38m to lift SMEs in member States – Tinubu

Accra, July 22, 2024 -The Economic Community of West African State (ECOWAS) plans to pool $38 million to lift Small and Medium Enterprises (SMEs) in member states. President Bola Ahmed Tinubu, the ECOWAS Chairman, said this on Sunday at the Sixth Mid-Year Coordination Meeting of the African Union (AU)in Accra, Ghana, where he presented some of his achievements as chairman of the regional organisation. According to a statement issued by Ajuri Ngelale, the Presidential Spokesman, Tinubu also said that additional N140 million would be provided to support solar SMEs Tinubu …

Foreign Investment

Asian markets drop as Biden drops out of White House

Tokyo, July 22, 2024 – Asian markets fell Monday as Joe Biden’s decision to drop out of the US presidential race fuelled fresh uncertainty, while traders appeared to be unmoved by China’s decision to cut interest rates in a bid to boost the country’s stuttering economy. After last weekend’s assassination attempt on Donald Trump – and the following Republican convention – boosted bets he would win November’s election, investors were trying to work out the ramifications of the news out of the White House. Biden on Sunday gave in to …

General News Investment Money market

Sterling One Foundation announces Afreximbank as strategic partner in ASIS Summit 2024

Lagos, July 16, 2024 – Sterling One Foundation has announced African Export-Import Bank (Afreximbank) in the hosting of the third edition of the Africa Social Impact Summit (ASIS) to be held from July 25 -26, 2024 in Lagos, Nigeria.  Is said the strategic partnership is to foster more private sector participation in the drive towards the achievement of the Sustainable Development Goals (SDGs) in Africa. The event will focus on identifying strategies to mitigate risks in the continent’s investment opportunities to boost impact investment flows, drive policy-influencing conversations, and foster …

Business Planning Investment

Ooni, SMEDAN launch N1bn endowment fund for female entrepreneurs

Ile -Ife (OSUN), July 15, 2024 – The Ooni of Ife, Oba Adeyeye Ogunwusi, and the Small and Medium Enterprise Development Agency of Nigeria, have launched a N1 billion endowment fund for female entrepreneurs in the country. It is named Alhaja Habibatu Mogaji Tinubu Endowment Fund to honour of the mother of President Bola Tinubu. The Fund was launched in Ile-Ife, Osun State, at the weekend as part of the activities of this year’s edition of the Royal African Young Leadership Forum where 100 youths drawn across the continent received …

General News Investment Oil and Gas

Energy Bank: Nigeria remains Africa’s top investment destination – TMV

Abuja, July 10, 2024 – The Tinubu Media Volunteers (TMV) has said that the decision to site the headquarters of the $5 billion Africa Energy Bank in Nigeria shows that the country remains a viable investment destination. TMV, in a statement signed by its Chairman Chukwudi Enekwechi and Secretary Sunday Shedrach Gyungoun, said President Bola Tinubu deserved credit for making this happen.  “So much has been said about Nigeria and foreign investments, but the decision by the African Petroleum Producers Organisation (APPO) to select Nigeria over South Africa, Ghana, Algeria, …

Investment Tech

Telecom sector recorded $191.5m FDI in Q1 2024 – NBS

Abuja, July 2, 2024 – Nigeria’s telecommunication sector generated $191.5 million in Foreign Direct Investment (FDI) in the first quarter of 2024.   This was reported by the National Bureau of Statistics (NBS) in the latest capital importation data released on Monday. This is out of the $3.38 billion total foreign investments inflow into the country during the period, up from $1.09 billion recorded in the last quarter of 2023. The FDI inflow into the telecom sector in the first quarter was against the $22.05 million recorded in the first …

Business Planning Investment Money market

Africa needs to be competitive, says Chike-Obi

Nassau (Bahamas), June 21, 2024 – Africa needs to be competitive and efficient in its areas of strength. Mustafa Chike-Obi, the Chairman of Fidelity Bank, made the observation during an interview with Kenneth Igbomor of CNBC Africa on sidelines of the just concluded Afreximbank’s annual meetings in Nassau, the Bahamas. He called on African leaders to prioritise Africa’s strengths such as power supply through cohesive policies and agreements to drive economic growth. Chike-Obi also called for focused and sharp leadership in harnessing the continent’s strengths to achieve prosperity. He highlighted …