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AfricaMoney | May 1, 2017

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Nigeria pips Egypt, nips SA’s heels in investment attractiveness

October 1, 2013 |

Nigeria is fast emerging as the new mecca for corporate investors, threatening to overtake South Africa as the most preferred corporate investment destination in Africa, according to an annual survey by South-Africa based Rand Merchant Bank (RMB).

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NNPC restructuring, legislative reforms to fuel Nigeria’s oil sector

September 30, 2013 |

The Nigerian National Petroleum Corporation (NNPC), Nigeria’s state-owned corporation which produces more than 90% of the country’s oil and gas through partnerships with oil firms, has expressed interest in acquiring assets of international oil companies (IOCs) un...
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Nigerian tycoon Dangote to build Africa’s largest oil refinery

September 30, 2013 | Africa’s richest man, Alhaji Aliko Dangote, President of Nigeria-based conglomerate Dangote Industries Limited (DIL), sealed a $3.3 billion (N512 billion) financing deal in Nigeria on Wednesday to build Africa’s biggest oil refinery. Large fertiliser and petrochemical plants are also covered und...
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Ethiopian Airlines to fly to Enugu, Nigeria

August 1, 2013 |

Ethiopian Airlines, the fastest growing airline in Africa, has announced the commencement of new services to Enugu, Nigeria as of August 24, 2013 becoming the first international carrier to fly to the city. Ethiopian will also increase its five weekly flights to Abuja...
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Arik Air introduces new aircraft to its fleet

July 11, 2013 |

Arik Air, Nigeria and West Africa’s leading commercial airline announced this week that it has increased its fleet to 24 aircraft with the introduction of an Airbus A330-200 twin-engine aircraft. This latest addition to the fleet marks the first of four A330 aircraf...
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New Bill offers hope for Nigeria’s gas and oil industry

May 3, 2013 |

The Petroleum Industry Bill aims to resolve some of the many issues that have affected Africa's largest oil producer and pave the way for future growth and investment. Growth in Africa’s oil and gas industry has been accelerating in recent years. The continent’s ...
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World Bank to help Nigeria improve gas supply and reliability

April 24, 2013 |

The World Bank provided its first Partial Risk Guarantee (PRG) for US$145 million to support Nigeria’s gas sector and bring more electricity to Nigerian consumers.  The PRG agreements in support of a Gas Supply and Aggregation Agreement (GSAA) were signed this week...
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Dangote to boost Nigeria oil production

April 17, 2013 |

Billionaire business tycoon and Africa richest man, Aliko Dangote has revealed plans to build an $8 billion refinery with a capacity of around 400,000 barrels a day by late 2016; almost double Nigeria’s current refining capacity.  Nigeria is Africa’s largest oil ...
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Nigeria to strengthen trade ties with Canada

April 13, 2013 |

Nigeria is prepared improve on its economic relations with Canada in areas of power generation, petrol chemicals, mining, aviation, agriculture, health, education and film production as the nation’s Vice President, Namadi Sambo, prepares to lead a Federal Government...
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NLNG receives $360m loan from South Korean EXIM Bank

March 23, 2013 | The South Korean Export-Import Bank according to report, announced this week a $360 million loan to the Nigerian Liquefied Natural Gas (NLNG) Limited.  Korean agency Yonhap News reported the loan to NLNG has a maturity of 9.5 years.The transaction comes under the state-owned South Korean bank’s p...
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Chinese firms to build four airport terminals in Nigeria

March 13, 2013 |

March 13, 2013 - A number of Chinese construction companies have outlined plans to start the construction of four Nigerian airport terminals in Lagos, Abuja, Kano and Port Harcourt and in June 2013. The Federal Airports Authority of Nigeria (FAAN) managing director Ge...
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FAAN Commissions Benin Airport

March 10, 2013 |

The Federal Airports Authority of Nigeria has commissioned the remodeled Benin Airport terminal in Benin City at the end of this week. The airport is the third to be commissioned among the 11 airports listed under the first phase of the Airport Remodeling Project, ini...
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AfDB approves US $300-million loan to Nigeria

March 2, 2013 |

The Board of Directors of the African Development Bank Group approved this week, in Abidjan, Côte d’Ivoire, a loan of US $300 million to finance the Transport Sector and Economic Governance Reform Program and the Nigeria Country Stra...
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Nigeria will become regional petrochemical, fertilizer hub by 2017- NNPC

February 26, 2013 |

Nigerian National Petroleum Corporation (NNPC), Group Executive Director (GED) of Gas and Power, David Ige, has projected that the on-going reforms in the gas sector will make Nigeria a regional hub of petrochemical and fertilizer by 2017. Read More

Nigeria receives $50 million to bolster energy sector

February 24, 2013 |

The Climate Investment Funds (CIF) has announced an agreement to provide Nigeria with US $50 million to support an African Development Bank-supported program of financial interm...
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AfDB contributes in water sector in Nigeria

February 23, 2013 |

The African Development Bank Group is committed to supporting its regional member countries in their quest to increase sustainable access to safe water and basic sanitation in urban and ...
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First Bank retains Number 1 banking brand in Nigeria

February 17, 2013 |

For the second year running, Nigeria’s biggest lender, First Bank of Nigeria Limited has retained the number one banking brand in Nigeria, according to the current Top 500 World Banking Brands Ranking just released by The Banker and Brand Finance in the United Kingdom. According to...
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Nigeria can end rice importation by 2015 – AfDB

February 16, 2013 |

African Development Bank (AfDB) Chief Operations Officer (COO),  Patrick Agboma, has said that  Africa’s second largest economy, Nigeria, can stop importing rice by 2015 “if the right things are done”.

Agboma who spoke wit...
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IBM partners Nigerian government on e-Governance

February 15, 2013 |

February 15, 2013: Ekiti State Government has entered into an agreement with International Business Machines (IBM) which would see the software vendor provide ICT solutions to the State Government, the State University and the Civil So...
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Honeywell Group partners GE to boost power generation

February 13, 2013 |

February 13, 2013: Mr. Chris Bale, a top official of leading Nigerian conglomerate Honeywell Group, disclosed the group signed a Memorandum-of-Understanding (MoU) with General Electric (GE) for the construction of a power generation facil...
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Nigeria slice cost of business registration by 70%

February 12, 2013 |

February 12, 2013 - In line with international best practices, Nigeria Minister of Trade and Investment, Olusegun Aganga has approved the reduction of business registration at the Nigerian Investment Promotion Commission (NIPC) from N50,0...
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AfDB supports Export-Oriented SMEs in Nigeria

February 6, 2013 |

Photo of Ousmane Dore, AfDB’s Resident Representative in Nigeria

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$100 million loan approved to boost fertilizer production in Nigeria

January 31, 2013 |

January 31, 2013 - The Board of Directors of the African Development Bank (AfDB) has approved yesterday a senior loan of US $100 million to Indorama Eleme Fertilizer & Chemicals Limi...
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Dell launches Windows 8 Tablets, Ultrabooks into Nigerian market

January 26, 2013 |

Leading technology corporation and computer maker, Dell Inc., in partnership with Microsoft and Intel Nigeria, has launched its touch-enabled Windows 8 XPS PCs into the Nigeria market. The new produc...
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Nigeria to remodel 11 more airports in 2013

January 23, 2013 | January 23, 2013 - Read More

Nigeria may emerge World’s 13th Leading Economy by 2050 – PwC

January 20, 2013 |

Nigeria may occupy the 13th position as one of the leading G20 economies in the World by 2050, a reportRead More

Standard Chartered and Ashmore invest in Nigerian aluminium can firm

January 18, 2013 |

January 18, 2013 -Standard Chartered Private Equity and UK-based investment manager Ashmore have announced that they have invested in Nigerian aluminium can manufacturer GZI. Read More

Alcatel-Lucent, Etisalat Nigeria Sign New Deal To Improve QoS

January 13, 2013 | In a bid to strengthen service and operational services in Nigeria, UAE telecommunication company, Etisalat has signed a fresh agreement with its technical partner, Alcatel-Lucent at its Nigeria headquarters in Lagos. This is the sixth phase of the agreement signed between both companies since the t...
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Nigeria set to launch new Cement Policy

January 8, 2013 | January 8, 2013 - Nigeria’s Minister of Trade and Investment, Olusegun Aganga, has disclosed that a new policy will soon be effected as part of the country’s cement sector’s Backward Integration Policy (BIP).  According to Aganga, the BIP which was adopted in 2002 during the regime of the ers...
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