[Nigeria Business Week] Towards sensible investments, capital pours in from the outside
For a country as populous as Nigeria, the wheels can and should not stop rotating. Supply rarely ever exceeds demand, investors are always welcome and jobs are never surplus. The private sector is on its heels to keep the economy active, jobs intact and production churning. Dangote, one of the largest private employers on the continent, is hard at this task. The industrialist is currently in the process of providing even more jobs by expanding the Automobile branch of his empire, Dangote Sinotruk.
More investment and jobs can be expected from new infusion, as Kenyan venture capitalist firm, Novastar plans the opening of an office in the commercial capital, Lagos. At the same time, the energy sector is getting more capital from Paris-based investment platform, NeoT.
Further external interest in the Nigerian economy is coming in on the real estate front, with Arthur Mackenzy Properties Group contemplating low cost housing opportunities in the country.
Oil and Gas has seen remarkable action this week. The Nigerian National Petroleum Corporation let loose some interesting stats and figures on national gas export sale, gas production, as well as a new trade agreement with Britain’s BP Oil.
A three-party consortium has also announced the acquisition of interests in oil producing in Nigeria.
Nigeria is not left behind in the mobile money frenzy sweeping through Africa. Stats revealed by the Nigeria Interbank settlement System demonstrated a healthy rise in transactions in the first three quarters of the year.
The wheels keep on turning...