The African Development Bank has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia.
Jude Menes is a Nigerian-American attorney and founder of Menes Konsult Firms, in partnership with Europlaw, a group of firms dedicated to advising and guiding foreign investors and relations in Africa.
The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners signed a Final Investment Decision agreement for a 300 million cubic feet of gas on Wednesday in Abuja.
Nigeria and the Republic of India have pledged to work more closely to enhance energy security of both countries.
Azuri and First Bank of Nigeria Limited have announced a unique partnership that will help deepen financial inclusion in Nigeria while bringing affordable, reliable and clean power to millions of Nigerians.
The United Bank for Africa (UBA) has partnered with Google and ISP partner to unveil Google Station in 11 UBA branches in Lagos State as part of plans to roll out 200 stations in the country.
Esther Dumbiri put her talent with words and colors to good use by starting a publishing firm over a decade ago, a firm that has grown in leaps and bounds.
Avanti Communications and MainOne have signed an agreement to improve broadband penetration across Nigeria by providing the latest KA-band based satellite communication services to enterprises located in remote areas of the country.
A total of 735 Million Standard Cubic Feet of gas per day (mmscfd) was delivered to gas fired-power plants in November 2018 compared with October 2018 where an average of 627mmscfd was supplied.
Nigerian telecommunications Globacom has announced that the company will be rolling out its Glo2 fibre optic infrastructure in 2019 from Lagos to Niger Delta states
ECOWAS) and AfDB have signed the $22.7 Million grant retrocession agreement for the 6-lane Abidjan-Lagos Corridor Development Project in Abuja, Nigeria.
Facebook has partnered Dubawa, a Nigerian Online platform, to intensify the fight against fake information in the country.
Africa's largest urban developer, Rendeavour, in partnership with the Lagos State Government, has broken ground on a new satellite city development.
Moran Family of Brands, an international franchises of general automotive repair, transmission repair and driver safety products, has announced the addition of its first international location in Nigeria.
Global beverage company Coca-Cola Company has completed its acquisition of Chi Ltd. in Nigeria.
Nigeria based airline Green Africa Airways has announced that Mr. Gbenga Oyebode has joined its Founding Board of Directors.
The Nigerian National Petroleum Corporation has proposed collaboration among African countries in the area of oil and gas infrastructure in order to remain competitive on the global stage.
A new analysis by Global Financial Integrity (GFI) indicate that Illicit Financial Flows (IFFs) due to trade misinvoicing, is a significant and persistent drag on 148 developing countries’ economies.
Sirius has signed an agreement with Barak for the provision of a US$20 million debt facility, to contribute to the funding of the first phase (Ororo-2 and Ororo- 3 wells) of the Ororo field development.
Andela, the company building distributed engineering teams with Africa’s top software developers, has announced the completion of a $100M Series D funding.
Renmoney, Nigerian fintech company, has deployed Freshworks customer engagement software to set up an integrated support and CRM system.
Nigeria’s latest entrant into the aviation industry, Green Africa Airways has appointed Joshua Koshy as its Chief Financial Officer.
The Nigerian Stock Exchange (NSE) and Afrinvest Securities have announced the launch of two new factor indices: the NSE-Afrinvest Banking Value Index and NSE-Afrinvest High Dividend Yield Index.
CDC, the UK’s development finance institution, has announced a new investment designed to support high-growth SMEs in Nigeria.
The Federal Government in Nigeria will soon start sourcing foreign exchange (forex) from Dangote Group, as soon as the latter's refinery, petrochemicals and fertilizer projects come on stream.
Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has appointed Ms. Arunma Oteh to its Board of Directors as a Non-Executive Director.
The Nigerian National Petroleum Corporation has sought effective collaboration with members of the African Union of Transportation and Logistics Organization to halt incidents of cross-border leakages of petroleum products.
Nigeria’s NEM Insurance Plc has announced that Advanced Finance and Investment Group has completed an investment in the Company, by acquiring 29.9% of the Company’s shares.
The Nigerian National Petroleum Corporation (NNPC) is set to implement effective commercial framework that would halt the export of major components used in the production of cooking gas.
Growsel, has received software from Oracle NetSuite Social Impact for growing social enterprises.
Diamond and Access Banks are set to have the largest alternative channels on the continent even as customers of both financial institutions can now use their ATMs without paying the usual N65 charge.
Nigeria’s digital content distribution startup Publiseer has been accepted to Singularity University’s Global Startup Program.
A pilot programme to reduce lead poisoning in Nigerian gold mining communities has brought extraordinary improvements to an area where hundreds of children had died from lead poisoning.
Tunde Ajala is the founding executive director of Dovewell Oilfield Services Ltd, a Nigeria oil and gas company.
The sectors are revving up to keep up momentum as the 2019 opens new doors for Nigeria’s stride toward economic balance.
Greenlight Planet, a global provider of solar home energy products, has successfully delivered clean energy access to more than two million individuals in Nigeria.
Dubbed ‘Step Up’, MultiChoice Nigeria Chief Customer Officer, Martin Mabutho, said the offer reiterates the firm’s commitment to give more value for money to loyal customers.
The Tomato Growers Association of Nigeria (TOGAN) has urged the Federal Government to establish cottage processing plants in tomato producing areas.
The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency.
Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in outgone 2018, translating to a 9 per cent increment, compared with the 2017 average daily production of 1.86million barrels.
[Nigeria] IFC, Lagos State government partner to improve municipal infrastructure and increase revenue
IFC, a member of the World Bank Group, and Lagos State government have announced an agreement under which IFC provide advisory services to enhance infrastructure development.
Lufthansa Group has appointed Adenike Macaulay as general manager sales for Nigeria & Equatorial Guinea.
FCMB Group has announced a change of name in the pension management arm of its business. Formerly known as Legacy Pension Managers, the financial services holding company’s fund managers firm will now be known as FCMB Pensions.
The Nigerian National Petroleum Corporation has announced a trading surplus of ₦9.85billion for the month of September 2018, a figure higher than the previous month’s deficit of ₦3.90 billion.
CoralPay Technology, a payment switching and transaction processing company, has deployed the first interoperable Unstructured Supplementary Service Data (USSD) and mobile payment platform to Nigerians.
Reports from the Nigerian Interbank Settlement System have indicated that Nigeria’s e-payment services, recorded transactions worth N56.85 trillion from January to September last year.
Total has started up production from the Egina field, located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria.
The Nigerian Stock Exchange, NSE, has announced the review of the NSE-30, and the eight sectoral indices of the Exchange
China National Offshore Oil Corporation, CNOOC, has announced Egina Field, located in deepwater offshore Nigeria, has commenced production.
The Nigerian Stock Exchange, NSE, has launched X-Bot, an artificial intelligence (AI)-powered Chatbot that responds directly and automatically to enquiries through Facebook Messenger.
Boeing and Lagos-based Green Africa Airways have announced a commitment for up to 100 737 MAX 8 aircraft
Nasdaq and The Nigerian Stock Exchange have announced that NSE will continue leveraging Nasdaq’s matching engine technology for its equities and fixed income markets.
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 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.