The African e-commerce sector is plagued by cash, with the majority of payments still being made in cash at the point of delivery.
The Federal Government’s plan to attract investment in modular refineries as part of efforts to boost local refining capacity has started gaining momentum with an Indonesian firm, PT Intim Perkasa.
Bolloré Logistics Nigeria has been handling a warehouse management contract to run Unilever Nigeria Plc.’s 16,290 sqm warehouse since September 2016.
The Nigerian Stock Exchange (NSE) has unveiled X-Academy, a knowledge-platform designed to provide education services to individuals for better understanding of various aspects of the capital markets.
Erin Energy Corporation has provided an update on its drilling operations that are expected to double production for the Company, as well as updated its plans for drilling one of its prime exploration prospects.
DuPont Clean Technologies announced that Dangote Oil Refinery Company Limited has commissioned a range of advanced proprietary equipment from DuPont for the construction of a new refinery in Lekki, Lagos.
Union Bank has announced the launch of UnionAccelerate, a high-interest savings account with zero bank charges for medium-sized businesses.
[Nigeria] MainOne launches plan to become largest internet hub in West Africa with Open-Connect Service
Following the partnership of MainOne’s Data Center company with the Nigerian Internet Exchange to improve national transit traffic in Nigeria, the company has announced a new interconnect service for carriers.
Guinness Nigeria Plc has announced the appointment of Viola Graham-Douglas as its Corporate Relations Director.
Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation.
Guaranty Trust Bank plc, has launched GTPATRIOT, a unique Salary Account Package which offers Nigeria’s servicemen and servicewomen subsidized banking products and dedicated value added services.
The Nigerian Government is said to have received the sum of $3.7 billion in taxes and royalties from Anglo-Dutch Shell Group.
A new and ambitious airline is being cleared for take-off in Nigeria. JetWest could make its maiden voyage in December, and the team behind it is aiming high.
OPEC boosted its oil production in May as output recovered in Libya and Nigeria, two countries exempt from the group's recent deal to curb global supplies, new data shows.
The African Development Bank (AfDB) has signed agreements for a corporate loan to finance the expansion of Afe Babalola University (ABUAD) in Ado Ekiti, Nigeria.
A decade after Nigeria was last elected into the Governing Body of the International Labour Organisation, Nigeria Labour Congress President, Ayuba Wabba was yesterday elected into the body for the next three years.
To ensure that the oil producing environment in Nigeria is free of pollution from toxins, Danish oil firm, DESMI, has mapped out strategies to bring emergency response solutions to the country.
[Nigeria] 371, 000 Internally Displaced Persons to benefit from Dangote Foundation’s donation in Borno
Africa’s foremost businessman, Aliko Dangote has donated food items worth more than N200 million to the people of Borno state.
Nigerian banks' ability to access foreign currency has improved considerably since the Central Bank of Nigeria introduced a foreign exchange "window" at end-April aimed at investors and exporters, Fitch Ratings says.
The International Institute of Tropical Agriculture expands research investment with 205.5 hectare research farm in Nigeria
As the International Institute of Tropical Agriculture (IITA) marks its 50th anniversary, the Institute today inaugurated a new research station in Ago-Owu in Osun state, Nigeria.
Efforts by the Federal Government to boost electric power generation in the country may soon yield the required dividend following the sustained increase in gas supply for power generation.
AfroZons is the first ever Afrobeat show on a major radio FM network in USA. It is a weekly showcase of the latest culture trends, topical conversations and music from Africa.
West Africa’s premier Connectivity and Data Center Solutions Company, MainOne has reinforced its commitment to building out West Africa’s Data Center capacity at the Data Center Africa Summit taking place at the DataCloud Europe 2017 conference in Monaco.
The Nigerian Content Development and Monitoring Board and Dangote Group, have commenced collaborations towards ensuring maximum utilisation of local capacities in the construction of the company’s 650,000 barrels per day refinery.
[Column] Brett Parker: How homegrown innovation is solving many of Africa's most pressing challenges
By now, I am convinced that you have heard of M-Pesa, the popular and often-cited mobile banking system that has become Africa's innovation calling card.
The Nigerian Communications Commission (NCC), for the second consecutive year, has won the European Society for Quality Research (ESQR) award.
The Group MD of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has said that NNPC was on the fast lane to attain efficiency and competitiveness through reliance on Information Technology.
Reinforcing its commitment to Africa, Oracle has opened a new office in Abuja that will focus exclusively on driving cloud adoption across Nigeria’s Public Sector.
An indigenous aviation firm, African Aircraft Leasing Company (AALC), plans to invest about $20 billion in the country to facilitate the leasing of aircraft for local operators.
Nigerian National Petroleum Corporation Group Managing Director, Dr. Maikanti Baru, has said that the corporation’s recently re-commissioned Mosimi and Kano depots have impacted positively on highways across the country.
PayU has rolled out strategies to intensify efforts to connect businesses to Nigeria’s online payment market. Annual online payments in Nigeria is estimated to surpass N200 billion this year from N167 billion in 2016.
The Federal Government on Thursday in Abuja inaugurated an implementation committee to facilitate the establishment of the proposed Information Communication Technology (ICT) University of Nigeria.
Heritage Bank has thrown its weight behind Globus Resources, a subsidiary of theTriton Group, to flag off the second phase of afforestation program in Oyo state.
The Nigerian National Petroleum Corporation (NNPC) and the Bayelsa State Government are to build a power plant in the state.
MTN Group is inviting social media users across Africa and the Middle East to join its employees in a virtual campaign to break down traditional barriers to education.
Indonesia, a South East Asia emerging economy, has indicated interest to purchase more crude oil from Nigeria.
The National Emergency Management Agency (NEMA) has adopted cash transfer as one of the strategic ways of reaching out to disaster victims.
[Nigeria] CcHub and Google for Entrepreneurs launches European PitchDrive tour to raise $22 million for African tech start ups
Co-creation Hub (CcHUB), a technology innovation Centre in Nigeria and Google for Entrepreneurs, have announced the launch of PitchDrive, a three week, five-city European tech hub tour
[Nigeria] Shell Petroleum Development Company celebrates top-performing students, inducts them into mentorship program
Beneficiaries of The Shell Petroleum Development Company (SPDC) Joint Venture undergraduate scholarship who have consistently earned excellent grades have been inducted into a new mentorship program.
Most Nigerians observed yesterday that democracy has proved to be the best system of government for the country, despite its challenges.
General Electric healthcare in West Africa and Central Africa has equipped and launched Nigeria’s first breast and gynecology center with state of the art medical machinery, in Lagos.
The Nigerian National Petroleum Corporation is to build 500million standard cubic feet of gas per day metering plant to serve the planned capacity expansion of Egbin Power Plant.
The Dangote Group shone at the just concluded 2017 Gateway Trade fair which was held in Abeokuta, emerging as the second most patronised exhibitor.
The Embassy of Spain in Nigeria on Thursday announced that Nigeria’s current efforts at developing her agricultural sector had started attracting the interest of more Spanish companies.
West African region, much like their easterly neighbours, is experiencing a surge in port development projects which will greatly expand, modernise and link shipping infrastructure across the region over the course of the next five years.
The Bonga oil field has produced about 702 million barrels of oil since inauguration in 2005, and operated at more than 92 percent availability in 2016.
[Nigeria] FirstBank Re-elected to the Board of Advisors of PCI SSC: Remains the only African Bank on the Board
First Bank of Nigeria Limited has been re-elected into the Board of Advisors of the Payment Card Industry Security Standards Council (PCI SSC) for the third consecutive time.
Nigerian Federal Government should be commended for putting the spotlight on local manufacturers through initiatives, such as the Made-in-Nigeria Dress Days.
The Nigerian National Petroleum Corporation has established contacts with some Chinese investors to partner in its Research and Development, R&D, venture.
Kaspersky Lab has introduced Secure Connection in Nigeria, a solution for encrypting traffic on Windows and Mac computers
Total customers can now make cash withdrawals in select Total Service Stations without an Automated Teller Machine (ATM).
The Nigerian National Petroleum Corporation (NNPC) on Tuesday received no fewer than 34 bids submitted by different companies for the digitization of legacy documents in the corporate headquarters.
Standard and Poor’s (S&P) assigns ‘B’ long term and ‘B’ short term global scale counterparty credit ratings to the United Bank for Africa PLC (UBA).
Globetom’s has announced that their cloud service for electronic distribution and payment solution management is making a market entry into Nigeria.
Globacom has strengthened its position as Nigeria’s preferred data network by recording the highest data penetration among the four major operators in the telecommunications industry.
Through frequent borrowing from the Central Bank of Nigeria (CBN) by commercial banks, the regulator recorded N3.29 billion as interest income in February 2017.
Venture capital firm, Zeno Ventures, has closed an investment in Tizeti Inc., a Menlo Park, CA and Lagos, Nigeria based startup that participated in the latest batch of Y Combinator.
Leading banks in Nigeria have reported a significant rise in income from fees they charge customers for use of their various electronic banking services.
Petroleum products supply to the Northern part of the country received a boost yesterday as the Nigerian National Petroleum Corporation, NNPC, re-commissioned its Kano Depot, even amidst encomiums poured on the Corporation for reviving the facility.
[Nigeria] OGUNCCIMA lauds Dangote Group’s collaboration as Group’s subsidiaries offer products at subsidised prices
The Ogun State Chamber of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) has commended the Pan African Conglomerate, Dangote Group for its giant strides in economic development of the country through massive investments in several sectors of the economy describing the feat as worthy of emulation by other Nigerians.
Experts at the International Telecoms Week conference in Chicago have highlighted the need to accelerate investment in Africa to facilitate the continent’s broadband data explosion.
The African Export-Import Bank (Afreximbank) has disbursed more than $35 billion in trade and project financing to Nigerian public and private entities since its inception to support the country's economic and trade growth, Bank President Dr. Benedict Oramah has said.
The IDC CIO Summit, currently underway in Lagos, is focusing on how the next wave of social, mobile, analytics and cloud (SMAC) technologies will unleash innovation and productivity in the enterprise by delivering better employee and customer experiences.
Aiteo Group has announces the appointment of Mr. Ratko M. Knezevic to its Global Executive Management team as Group Advisor on Business and Capital Development.
[Nigeria] She Leads Africa launches accelerator for women run businesses with Work in Progress Alliance
She Leads Africa has announced applications for the 2017 She Leads Africa Accelerator, a 3-month program designed to identify, support and fund the next generation of Nigeria’s brightest entrepreneurs.
The Lagos State Government has launched a free public Wi-Fi project at parks and gardens in Lagos in partnership with MainOne.
Global travel technology provider, Sabre Corporation, is celebrating ten years of success in Nigeria and the continued growth of the local travel industry.
Etisalat Nigeria has reacted to reports claiming that the on-going discussions with its bankers have become stalled or reached a deadlock.
Nigerian National Petroleum Corporation (NNPC) and its partners have evolved a scheme to grow gas supply for domestic consumption by 285% from1.3billion standard cubic feet per day to 5bscf/d by 2020.
Africa’s leading freight logistics chain Transnet has been on an expansion binge and is expected to set up shop in eight more African countries including Kenya, Liberia, Ghana, Nigeria, DR Congo, Senegal, Togo and Benin.
The Standards Organisation of Nigeria (SON) on Sunday inaugurated its Seme border office with assurance to intensify efforts at checking influx of substandard products into the country through land borders.
Co-creation Hub (CcHUB), the leading social innovation centre in Nigeria, has launched the ‘CcHub Diaspora Challenge’, an international project that will engage entrepreneurs, innovators and scientists from African communities in the UK and source scalable business solutions to social challenges in Africa.
Shell Nigeria Exploration and Production Company (SNEPCo) has facilitated the training of medical workers from hospitals in Anambra State on emergency resuscitation.
The all new Galaxy S8 and S8+, has been launched into the Nigerian market by Samsung Electronics. The Nigerian launch event recently took place at the Renaissance Hotel, GRA, Ikeja, Lagos.
African financial institution, United Bank for Africa, has introduced a full-fledged banking platform, tagged UBA Magic Banking and enabled by dialling *919# within Nigeria.
The 2019 target set by the Nigerian National Petroleum Corporation to exit importation of Premium Motor Spirit (PMS) is still achievable, Group Managing Director, Dr. Maikanti Kacalla Baru, has said.
In order to try and achieve their shared goal of a Nigeria which offers financial inclusion for all, Paga and the Nigerian Postal Service (NIPOST) recently announced a partnership which is aimed at doing just that.
GBfoods, a leading multinational food company headquartered in Barcelona, and Helios Investment Partners, a premier Africa-focused private investment firm, have partnered to create one of Africa's largest FMCG businesses.
Islamic Corporation for the Development of the Private Sector and SunTrust Bank Nigeria to establish a new non-interest banking window
The Islamic Corporation for the Development of the Private Sector (ICD), the private arm of Islamic Development Bank Group (IDBG), and Suntrust Bank Nigeria Limited (SBN), signed an agreement to establish a new non-interest banking window in SBN in Nigeria.
Stakeholders in the mobile money ecosystem have called for a review of the prevailing mobile money regulatory framework, so that the country can achieve the target growth rate in the system.
Oando, Nigeria’s indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced unaudited results for the three months period ended 31 March, 2017, with the following highlights:
Guinness Nigeria Plc, the nation’s leading alcoholic beverage manufacturer and a subsidiary of Diageo Plc, has released its unaudited results for the nine months ended 31 March, 2017.
Forbes Woman Africa partners with Ecobank to Launch First Television Show, “Against the Odds with Peace Hyde”
FORBES WOMAN AFRICA, the continent’s first-ever women’s interest magazine from the highly-successful FORBES stable, launches its very first television show through FORBES AFRICA TV, in partnership with Ecobank.
No fewer than thirty-seven companies have submitted bids to supply six triple agent firefighting trucks for the operation of the Nigerian Pipelines and Storage Company.
This week, more than 138,000 vaccinators will fan out across five African countries in the Lake Chad area in a push to eliminate polio in Africa and rid the world of this terrible disease forever.
Guaranty Trust Bank plc has released its unaudited financial results for the quarter ended March 31, 2017 to the Nigerian and London Stock Exchanges.
Dangote Industries Limited has received a grant from the U.S. Trade and Development Agency in support of its efforts to develop a 100 MW solar photovoltaic power plant with Black Rhino, an African infrastructure investor, in Kano State.
West Africa's leading connectivity and data center solutions provider, MainOne has pledged its commitment to boost Information and Communications Technology (ICT) in Ogun State with a data center project in Sagamu.
The federal government is to buy 20 aircraft to equip Nigeria College of Aviation Technology (NCAT) Zaria and make it a centre of excellence.
Airtel Networks Limited and ZTE have announced a strategic partnership to launch 4G (fourth generation wireless mobile telecommunications technology) in Nigeria.
The Internet Exchange Point of Nigeria (IXPN), has partnered with Maindata Nigeria (MDXi), a MainOne subsidiary, to improve national transit traffic by hosting a Point of Presence in the Maindata facility.
The Central Bank of Nigeria (CBN) has suspended its earlier directive on the implementation of cashless policy. In a circular released on Friday, the apex bank instructed banks to revert to old charges and refund customers who had been debited.
Dangote Flour Mill (DFM) owned by Africa’s richest man, Aliko Dangote announced that it has sold its noodles business and assets to Dufil Prima, makers of Indomie noodles for an undisclosed amount.
Facebook celebrated the achievements and products of its growing African developer and partner ecosystem at its annual F8 developer conference, held in San Jose, California, on 18 and 19 April.
The Nigerian National Petroleum Corporation (NNPC) has raised the stake in its commitment to diversify into the health sector in line with the Corporation’s stand to stay afloat as a commercially viable entity.
Five states are to build solar-powered mini-grids to aid the Federal Government’s efforts at improving electricity generation and supply.
As part of activities to mark its 100th anniversary this year, Nigerian financial institution, Union Bank, has announced a partnership with Co-Creation Hub (CCHub) to launch its Centenary Innovation Challenge.
The African Export-Import Bank (Afreximbank) has selected Nigeria as the preferred country to host the first of its Centres of Excellence for Healthcare Services in Africa.
Access Bank Plc has announced the appointment of Mr. Roosevelt Michael Ogbonna, as Group Deputy Managing Director to replace Mr. Obinna Nwosu who recently resigned his appointment to pursue other personal endeavours.
The Central Bank of Nigeria (CBN) yesterday carried out wholesale interventions in the interbank FOREX market by offering a total sum of $100m to authorized dealers to meet the 7 to 15-day forwards requests of customers.