The Board of Access Bank announced it has signed a Memorandum of Agreement with Diamond Bank regarding a potential merger of the two banks that will create Nigeria and Africa’s largest retail bank by customers.
The President and CEO of USADF and the Governor of Kebbi State, Nigeria, have signed a MOU announcing their intention to develop and expand local agricultural enterprises in the northern Nigerian state.
The African Export-Import Bank (Afreximbank) has signed an agreement with the Nigerian Export Promotion Council and, launching a $1-billion Nigeria-Africa Trade and Investment Promotion Programme.
Lendable, Inc., a New York and Nairobi based technology-enabled funding provider to frontier market alternative lenders has announced expansion of credit model in Africa.
Fitch Ratings has downgraded Diamond Bank Plc's Long-Term Issuer Default Rating (IDR) to 'CCC' from 'B-' and Short-Term IDR to 'C' from 'B'.
IDOOH International has expanded to Africa through a partnership with Nigeria’s Abercairn Digital to deploy 1,000 in-vehicle media screens with ride-hail drivers in Lagos.
[Nigeria] TechCrunch Startup Battlefield Africa 2018 highlights achievements of top innovators and startups in Africa
M-SCAN, a company that develops portable mobile ultrasound devices, was crowned as Sub-Saharan Africa’s Most Promising Startup at TechCrunch Startup Battlefield Africa 2018, held in Lagos, Nigeria.
IFC has announced a $6 million equity investment in Kobo360 Inc, a tech-enabled e-logistics platform that connects the supply of trucks with the demand for transportation services by cargo owners in Nigeria.
Zenith Bank has launched the Unstructured Supplementary Service Data payments on Point of Sales (USSD on POS).
The Nigerian National Petroleum Corporation has fast-tracked agreements with bulk purchase marketers in the country
MTN Nigeria, on Tuesday, asked the Federal High Court in Lagos to further adjourn the hearing in the suit it filed to challenge the $8,134,312,397.63 being demanded from it by the Central Bank of Nigeria.
General Electric has launched an e-learning portal for its Lagos Garage advanced manufacturing training program.
Diamond Bank has introduced a premium lifestyle subscription service for its affluent banking customers called XclusivePlus.
The Nigerian National Petroleum Corporation and the Nigerian Content Development and Monitoring Board have committed to growing Local Content in the Oil and Gas Industry from the current 40 per cent to 70 per cent by 2027.
Modernising regulation and policy reform will be crucial to boosting Nigeria’s digital economy and accelerating internet access for millions through increased mobile broadband penetration.
The Government of Nigeria and private sector investors are set to receive support that will help boost key industries such as the banking sector.
Sirius Petroleum, the Nigeria-focused oil and gas development and production company, has entered into a conditional sale and purchase agreement with Precision Energy Group (“PEG”) to acquire a 75% shareholding.
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has described the national oil company as the most open and transparent government-owned corporate entity.
Lara Onafeko is a Nigerian entrepreneur, CEO of consulting firm Sidney Folarin Consulting, located in Cape Town, South Africa.
The Shell Petroleum Development Company of Nigeria and its joint partners have signed a gas supply and aggregation agreement that will support the 140 Megawatts Aba Integrated Power Project in Abia State.
The Commission of the Economic Community of West African States (ECOWAS) and the government of Spain have restated their commitment to greater collaboration in order to build the capacities of citizens in the region.
A.M. Best has affirmed the Financial Strength Rating of B+, Good, and the Long-Term Issuer Credit Rating of “bbb-” of Continental Reinsurance Plc Nigeria.
AfDB and Africa Growing Together Fund to provide $200 Million support for Nigeria Electrification Project
The Board of Directors of the African Development Bank Group has approved a $150 million sovereign loan to the Federal Government of Nigeria to finance the Nigeria Electrification Project.
Central Bank of Nigeria Governor Mr Godwin Emefiele has reassured foreign investors that Nigeria is open for business, and their investments in the country will be protected.
The mobile telecommunications industry contributed $21 billion to gross domestic product (GDP) in 2017, representing 5.5 per cent of Nigeria’s total GDP.
A new study by Rocky Mountain Institute (RMI) and Energy Market and Regulatory Consultants (EMRC) uncovers the business case for undergrid minigrids.
Response Architects has announced the launch of Shopex TV, the first international TV shopping business in Nigeria.
NGExchanger, a Bitcoin Exchanger in Nigeria, is posed to change the face of Crypotcurrency and Bitcoin e-currency exchange in Nigeria.
Zhengzhou Yutong Bus Co., Ltd. , global bus supplier, has produced its 15,000th bus to be delivered to Africa at its factory in Zhengzhou, Henan Province.
Guaranty Trust Bank has announced the launch of Habari, Nigeria’s largest platform for music, shopping, lifestyle content and more.
The Chartered Institute for Securities & Investment announced a new partnership with The Nigerian Stock Exchange to provide training for CISI’s qualifications in Nigeria, under the auspices of X-Academy.
Cybersecurity research firm, ESET has partnered with Airtel to launch a new mobile security product specially designed for Airtel Nigeria subscribers.
[Nigeria] Agritech startup Farmcrowdy celebrates its second anniversary of empowering with close to 8,000 farmers
Nigeria’s digital agriculture platform Farmcrowdy, recently celebrated its second year of empowering close to 8,000 farmers across 10 states in the country.
TAB Finance, a new microfinance bank licensed by the Central Bank of the Republic of Guinea, has joined Oradian’s global community of financial institutions.
The President & CEO of USADF and the Governor of Kebbi State, Nigeria signed a MOU announcing their intention to develop and expand local agricultural enterprises in the northern Nigerian state.
Eni and the Food and Agriculture Organization of the United Nations have commissioned a model solar powered borehole for the Internally Displaced Persons in Waru, Abuja.
MTN Group will apply for a mobile banking licence in Nigeria and plans to launch the service there next year.
The Chartered Institute for Securities & Investment (CISI) has partnered with The Nigerian Stock Exchange (NSE) to provide training for CISI’s qualifications in Nigeria.
American multinational package delivery and supply chain management company UPS has announced the addition of 14 new countries among them Nigeria served by UPS Worldwide Express.
MainOne has partnered with the Meltwater Entrepreneurial School of Technology to provide high-speed internet access to the MEST Incubator in Ikoyi, Lagos.
A far-reaching in-depth study, led by Nielsen, of television reception throughout Nigeria, Cameroon and Ivory Coast, has positioned Eutelsat as satellite market leader within these countries.
Two Kenyan startups, Cloud9xp and PayGo Energy were among the second class of 11 startups who graduated this week from Google’s Launchpad Accelerator Africa program in Lagos.
The South African companies that were exhibiting at the 1st China International Import Expo (CIIE) in Shanghai China last week said that there are business opportunities for South African companies in China.
Global Reporting Initiative has appointed Bekeme Olowola, Founderof CSR-in-Action in Nigeria, as a member of its Board of Directors, where she will be joining a leading caste of global sustainability professionals.
Nigeria’s property market continues to embrace technology to make the real estate sector more investable, increase liquidity and drive greater home ownership.
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.
A consortium led by Vitol has entered into a Share Purchase Agreement to acquire a 50 per cent ownership interest in Petrobras Oil and Gas.
Statistics released by the Nigeria Interbank settlement System showed that despite the concerns over slow growth of the electronic payment system, mobile money is gaining traction in Nigeria.
The Nigerian National Petroleum Corporation has said that crude oil and gas export sale by the corporation in August 2018 was $470million, indicating an upsurge of about $78million in relation to July oil and gas export figures of $391.91million.
The President of the Commission of the Economic Community of West African States (ECOWAS) Jean-Claude Kassi Brou has restated the commitment of the Commission to strengthening regional Customs union and an infrastructural upgrade that can sustain the renewed integration efforts within the community.
The outlook for Africa’s oil & gas industry is positive amid difficult operating and economic headwinds. Tough economic and external conditions have placed pressure on oil & gas companies to be more cost-effective and efficient.
A total of 230.35Billion Cubic Feet of natural gas was produced in the country in July 2018, averaging a daily production of 7,678.17Million Standard Cubic Feet, NNPC Monthly Financial and Operations report for July 2018 has stated.
GE’s Power Services has signed a multiyear service agreement with GEL Utility Limited to support the power generation requirements of the Nigerian National Petroleum Corporation’s wholly owned subsidiary.
The African Continental Free Trade Agreement has huge potential to move Africa to dizzy heights of development on the platform of the African Union’s Agenda 2063.
As the budding automobile company, Dangote Sinotruk West Africa entered another phase in its expansion drive, the Company has said that it was increasing its local input into the assembling plant to up to 60 per cent, even as it plans to roll out commercial vehicles soon.
Boomplay, African music streaming and download service and Universal Music Group (UMG) have today announced the signing of a landmark licensing agreement covering multiple markets within Africa.
The Nigerian National Petroleum Corporation has signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with the British Petroleum’s trading arm, BP Oil International, for the supply of Premium Motor Spirit, also known as petrol.
International real estate investor and developer, Arthur Mackenzy Properties Group (AMPG), is eyeing development opportunities in Nigeria in association with local government bodies and businesses.
RensourceEnergy, a Lagos-based distributed energy services company has announced an investment of an undisclosed amount in its first microutility project Sabon Gari Energy by Paris-based NEoT Offgrid Africa.
Analysis of trade misinvoicing in Nigeria in 2014 shows that the potential loss of revenue to the government was approximately $2.2 billion for the year, according to a new study by Global Financial Integrity.
One of Nigeria’s foremost traditional rulers has challenged Africans and development experts to rethink development financing to reach the poorest communities on the continent, to give them access to markets, education and healthcare.
Oando has announced unaudited results for the nine months period ended September 30, 2018.
The Nigerian National Petroleum Corporation (NNPC) has announced the re-entry of its subsidiary, NIDAS Shipping Services, into the international shipment of crude oil and petroleum products
The Russian Federation and the United Arab Emirates have expressed their readiness to expand their scope of partnership with the Nigerian National Petroleum Corporation in the upstream, midstream, downstream and services sectors to further boost their various economies.
GTR Ventures, the world's first investment and venture-building platform specialized in trade and supply chain, has announced an investment in Orbitt -- an African-focused fintech deals platform.
First Bank of Nigeria, in partnership with Clickatell’s Transact division, has commercially launched their Chat Banking channel on WhatsApp.
Nigeria-based Oranto Petroleum has signed a Memorandum of Understanding with the Ministry Petroleum of the Republic of Niger.
West Africa’s largest data centre provider, MDXI and global IXP platform provider, Asteroid have partnered to launch a carrier-neutral Internet Exchange Point for West Africa.
The Nigerian Petroleum Development Company, an Upstream Subsidiary of the Nigerian National Petroleum Corporation, has achieved a 100 per cent local content input in the development of Oredo Integrated Gas Handling Facility.
TechCrunch Startup Battlefield in partnership with Facebook, returns to Africa in 2018, featuring panels and keynotes with high-powered industry leaders such as Omobola Johnson, senior partner at TLcom Capital, and Lexi Novitske of Singularity Investments. Following the breakout success of last year’s Startup Battlefield Africa in Nairobi, Kenya, the 2018 competition will unfold in Lagos, Nigeria.
Guaranty Trust Bank has released its unaudited financial results for the period ended September 30, 2018 to the Nigerian and London Stock Exchanges.
The Chairperson of the African Union Commission, Moussa Faki Mahamat, will undertake a visit to West Africa that will take him to Benin, from 22 to 23 October; the Republic of Guinea, from 23 to 24; and Nigeria, on 25 and 26 October.
West Africa’s largest full-scale data centre provider MDXI has attained the Gold Data Centre certification from Microsoft, thus strengthening its position as one of the leading Cloud Services providers in Africa.
The African Development Bank has approved a $50 million line of credit to Nigeria's Fidelity Bank Plc to support small and medium sized, and women-owned enterprises in selected transformative sectors.
Frankfurt-based firm GreenTec Capital has announced that it is expanding its West African presence with the opening of a new office in Lagos, Nigeria.
Nestlé Nigeria has collaborated with Lagos Business School (LBS) to run a Sales Academy to train and equip its employees.
A major stride in the drive for optimization of the nation’s vast gas resources has been recorded with the execution of a novel contract between the Nigerian National Petroleum Corporation and a private firm for the activation of virtual gas pipeline network for power generation.
Amid an unprecedented global refugee crisis, girls are suffering the most, according to a new report released on International Day of the Girl by the humanitarian organization CARE.
Botswana, Kenya and Nigeria have moved up the Absa Africa Financial Markets Index, produced by the Official Monetary and Financial Institutions Forum, and South Africa remains in top position.
E-commerce platform Mall for Africa has announced that it will add cars from the United States to its list of items for sale.
Africa stands as a hub for online and digital fraud that is not only seriously affecting the regional economy but the security of global markets as a whole.
Airtel Nigeria, leading telecommunications services provider, has announced a strategic partnership with Coverage Broadband, a subsidiary of Phase 3 Telecom, to launch 3flix mobile TV service in Nigeria.
Leventis Foundation Nigeria has marked 30 years of its Agric Training School with the provision of free agricultural education to Nigerians.
Nigerian Content Development and Monitoring Board has praised the management of Dangote Petroleum Refinery and Petrochemical Free Trade Zone Enterprises over its adherence to the local content law in the execution of its projects.
Polish oil refiner PKN Orlen expects to receive a first ever shipment of Nigerian crude oil next month, its CEO said, as Poland seeks to reduce its reliance on Russian supplies.
The possibility of free trade within Africa is an ongoing one, to which several African countries have pledged their support and signed their agreements. Though Nigeria has shown caution in joining The Agreement, its one champion is Aliko Dangote, Nigerian industrialist and wealthiest African.
Everest, a biometry-based, value transfer company, and 1000 Alternatives, a leader in social impact development, have announced a new partnership created to accelerate blockchain innovation and spur economic development in Kenya, Nigeria and Rwanda.
Sirius Petroleum has announced that it has decided, by mutual agreement with COSL, to abrogate its agreement with COSL for the supply of a jack-up rig for the drilling programme on the Ororo field, OML 95.
The development potential of Nigerian mini-grids – generation and distribution systems capable of supplying up to 1 MW of capacity from renewable sources, independent of national transmission networks – is valued at up to $20bn, according to a report.
Aliko Dangote has in London called for conscious efforts at deepening African regional market by African investors and governments to aid rapid growth and development of the Continent’s economy.
Lafarge Africa, with its ambition to grow in Nigeria has decided to further strengthen the company by issuing a new rights issue.
With less than five per cent of the Nigerian population under any sort of healthcare cover, Piggybank.NG and Avon Healthcare have signed a strategic partnership to provide health insurance plans to Nigerian users with flexible monthly payments.
The Central Bank of Nigeria has asked the court not to grant an injunction that will stop the MTN Group from transferring the disputed $8.1bn back to the country, and wants the company to pay 15 per cent annualised interest on the sum until judgment is given, and 10 per cent from then until the whole amount is paid.
UNDP Administrator Achim Steiner and Emergency Relief Coordinator Mark Lowcock has called on national and international partners to join efforts to address the humanitarian needs in the conflict-affected north-eastern Nigerian states of Borno, Adamawa and Yobe.
The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export sales of $416.07 million in June, 2018 which is 35.78 per cent higher than the previous month.
Global professional services company Accenture is helping AB InBev, the world’s largest brewer, better manage its sales and distribution operations in Africa with the Accenture NewsPage Distributor Management System.
African-based specialist hospitality, real estate and leisure consulting company, HTI Consulting, summarised the top five performers across 13 African cities for the first half of 2018 as indicated by STR Global.
The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of N18.12bn for the month of May, 2018, a performance which is relatively higher than the trading surplus of N17.16bn recorded in the preceding month.
Hilton has announced it is on track to more than double in size in the next five years with the opening of Legend Hotel Lagos Airport, Curio Collection by Hilton – the company’s first Curio Collection by Hilton hotel in Africa.
Nestlé Nigeria signed a Memorandum of Understanding with Diamond Awards for Media Excellence (DAME) Trust Fund to institute a ‘Nestlé Prize for Nutrition Reporting.’