Petrogress Int’l, LLC, a subsidiary of Petrogress, Inc. has entered into a Memorandum of Understanding and a Partnership Agreement with A&E Petroleum Co. Limited, a Nigerian corporation.
UNWTO signs agreement with Nigeria Tourism Corporation to strengthen national tourism statistical system
In an effort to better measure tourism growth and development in Africa, United Nations World Tourism Organization, UNWTO, has signed a Cooperation Agreement with the Nigeria Tourism Development Corporation.
Jara Mobile Limited, a Nigerian startup, runs an innovative bills payment platform that integrates various retailers into one loyalty programme, giving customers the leeway of doing more with less money.
First Bank of Nigeria Limited has recorded giant strides in its Financial Inclusion services delivery, via its 894 quick banking, a USSD based channel that enables customers to access banking services using any type of phone and without data/internet.
World Bank approves $486 million to improve Nigeria electricity transmission network and infrastructure
The World Bank has approved an International Development Association Credit and an IDA Scale Up Facility Credit in the total amount of $486 million equivalent for rehabilitation and upgrading of electricity transmission substations and lines.
Rwanda’s national carrier RwandAir is set to commence flights to Abuja in Nigeria and Cape Town in South Africa. RwandAir will operate four weekly flights from Kigali to Cape Town with a stopover in Harare.
General Electric’s power service business has signed a Multi- year Service Agreement with Shell Petroleum for its 650MW Afam VI combined cycle power plant located in the South-eastern part of the country.
As the first hotel-booking online platforms in Nigeria, Nitestay.com is launching a new website for customers.
MyJobMag has unveiled its free, personalized and unlimited push notification services aimed at helping job seekers and employers searching for the best job alert and best-in-class customer service.
Homesweet.com.ng, a price guide and review website for home appliances has been launched in Nigeria.
Marrakesh, a pioneering city as regards environmental protection, set up the very first bikeshare scheme in Africa on the occasion of the COP22 that it hosted in 2016.
Access Bank, a major player in the Nigerian banking sector, has been awarded a syndicated loan of $ 100 million by FMO, the Dutch development bank.
Naijafund is a crowdfunding website aimed at Nigerians wherever they are to raise money online for anything.
Globacom has announced an offer that benefits its teeming subscribers. The bundle offer comprises the network’s mini router, Glo MiFi, with 16 gigabytes of data for N16,000.
Fitch Ratings, a global rating agency in its latest report, has upgraded Access Bank’s National Long-Term Rating to A+ from A. At the same time, Fitch affirmed the Bank’s Long-Term Issuer Default Rating (IDR) at B.
Nigerian Export-Import Bank urges SMEs in Southeast and Delta states to access $5 billion export facilities
The Nigerian Export-Import Bank (NEXIM) urges Small and Medium Entrepreneurs (SMEs) in Southeast and Delta States to Access N550 Billion, $5 billion, Export Facilities.
DHL Global Forwarding, the leading provider of air, sea and road freight services has appointed Agnaldo Laice and Maureen Adibuah as Country Managers in Kenya and Nigeria respectively.
Arik Air, Nigeria’ s largest carrier is resuming its Garden City Express which enables customers to fly direct to the heart of Port Harcourt City from MMA2 terminal in Lagos.
Oando hereby notifies the shareholders and other stakeholders of the appointment of Mr. Muntari Muhammed Zubairu as Group Chief Corporate Services and Operations Officer.
African Infrastructure Investment Managers and Helios Investment Partners invest in Nigeria's Starsight Power Utility
African Infrastructure Investment Managers (AIIM), one of Africa’s leading infrastructure equity investment managers and a member of Old Mutual Alternative Investments (OMAI), has announced an investment in Starsight Power Utility Ltd.
African Reinsurance Corporation announces its membership of Africa Finance Corporation (AFC), and becomes the first multi-lateral financial institution to invest in AFC.
Erin Energy Corporation today announced that it has completed the drilling of the Oyo-NW well and, based on preliminary evaluation, it has discovered hydrocarbons in the Miocene Formation.
As the largest producer in West Africa, Nigeria is quickly becoming a hotspot for well intervention activity
Rensource, a Lagos-based renewable energy startup, has raised $3.5 million in bridge financing to expand its business. This is coming nearly 2 years after a previous seed round of $1.1m in 2016.
The Nigerian National Petroleum Corporation Monday in Abuja revealed that the Nigerian Federation was indebted to the corporation to the tune of N170.6 billion outstanding subsidy payments due from January 2006 to December, 2015.
Etihad Airways today reaffirmed its commitment to Nigeria with the announcement of two additional weekly flights on the popular Abu Dhabi–Lagos route, taking it to a daily service.
The Nigerian Petroleum Development Company, one of the upstream subsidiaries of the Nigerian National Petroleum Corporation, will increase its daily crude oil production to 500,000 barrels per day before 2022.
In his commitment to encouraging entrepreneurship in the country as a way out of the economic doldrums, business magnate Aliko Dangote is donating a N1.2 billion structure for running of business school in Bayero University, Kano.
Oando has appointed Alhaji Bukar Aji OON as a Non-Executive Director of the Company in accordance with Article 88 of the Company’s articles of association, effective as 19 January, 2018.
Hermann Kamte, young Cameroonian architect and the founder of company Hermann Kamte & Associates (HKA), is the driving force behind the famous sketch of Lagos Wooden Tower.
Olalekan Akinseye runs a clothing brand in Nigeria that is tapping the evolving nature of fashion and the apparel industry to champion the war on cancer.
Global provider of services in the hydrocarbon sector, KBR, Inc. has been awarded a contract from Indorama Eleme Fertilizer & Chemicals Limited for the Train 2 ammonia plant at Indorama's Port Harcourt site in Nigeria.
The Nigerian National Petroleum Corporation, NNPC posted a total crude oil and gas export sale of $239.10Million in the month of November, 2017.
Aliko Dangote has assured that the N250 million University of Ibadan Business School being constructed by him would soon be ready for commissioning.
Starting January 2018, male employees of Access Bank Plc can take advantage of an enhanced parental leave policy that extends paid benefits to all mothers and fathers.
Nigerian National Petroleum Corporation (NNPC) is to build more depots across the Country.
Union Bank, one of Nigeria’s longest standing banking institutions, has been named ‘The Fastest Growing Retail Bank, Nigeria’ in the 2017 edition of the International Finance Magazine (IFM) Awards.
The EU-funded AfricaConnect2 project has just announced that, following the tender call to connect West and Central (W&C) Africa back in June 2016, GÉANT has awarded a 15-year contract to MainOne for connectivity services.
The Nigerian National Petroleum Corporation (NNPC) is eyeing massive investments in the nation’s Oil and Gas Industry with a view to improving the nation’s revenue and creating jobs for the citizenry.
Despite its existence for more than ten years, the Nigerian REITs market is underdeveloped with only three established and with a combined market capitalization of $151 million, or 0.36 per cent of the local stock market.
Access Bank has upgraded its customer service function, Ombudsman, for the purpose of resolving service issues between the Bank and its customers.
The Nigerian National Petroleum Corporation says it is ready to collaborate with the Association of Professional Women Engineers of Nigeria (APWEN) to encourage female children to study Engineering.
Ibijoke Maxwell is the Nigerian/British host of the Jo Maxwell Show, a show designed to give exposure to the African community in the UK media.
Pan-African financial institution, United Bank for Africa, has changed the face of e-banking with the introduction of Leo, the UBA Chat Banker who enables customers make use of their social media accounts to carry out key banking transactions.
Diamond Bank of Nigeria has been awarded the ISO/IEC 20000-1:2011 certification by the British Standard Institute (BSI) Group.
Nigeria’s President, Muhammadu Buhari, is set to commission the new office complex of the African Development Bank in Abuja, consolidating the country’s position as the Bank’s largest shareholder.
Deutsche Bank has announced the appointment of Andreas Voss as Head of Trade Finance for Financial Institutions in Sub-Saharan Africa, in addition to his current role as Head of Global Transaction Banking West Africa.
Diamond Bank is pleased to announce its appointment as a Forum Member Adviser to the World Economic Forum. The Forum aims to shape global, regional and industry agendas to deliver WEF’s mission of improving the state of the world.
American private equity firm Milost Global Inc. has announced that, together with its African subsidiary, Isilo Capital Partners it has closed the acquisition of a 100 percent interest in Primewaterview Holdings Nigeria Limited.
A total of 254 indigenous and foreign owned entities have submitted bids for the sale and purchase of the Federal Government equity crude under the 2018/2019 crude oil term contracts.
2017 had its ups and downs and the power sector was no exception. The year started with a generally low mood in terms of the quantum of power generation available for distribution from none to a peak of 5,222MW on 18th of December, 2017.
London-based private equity fund manager Apis Partners and other investors announced disbursement of $60 MM in new funding to Greenlight Planet Inc., the leading provider of off-grid solar products and solar financing.
The creation of a new Oil and Gas Free Zone in Nigeria will become Africa’s largest petrochemical processing hub - paving the way for renewed foreign investment in the region.
Rating agency A.M. Best has affirmed the Financial Strength Rating of C++ , Marginal, and the Long-Term Issuer Credit Rating of “b+” of Wapic Insurance Plc Nigeria.
In a move that will connect up to one million Nigerians with the latest crypto news and investment opportunities, Zloadr has officially signed a deal with a top Lagos newspaper.
The Escravos-Lagos Pipeline which came down last week as a result of a fire incident has been restored and gas supply to customers on the line including power generating companies resumed.
Union Bank of Nigeria has announced that the Bank successfully raised N49.7 billion through a Rights Issue which closed on October 30, 2017 with subscriptions recorded at 120%.
Private equity-backed Viathan Group has issued Nigeria’s debut 10-year corporate infrastructure bond in local currency to raise 10 billion naira ($32 million) at a yield of 16 percent to fund power assets.
The Nigerian National Petroleum Corporation has no plan to execute an increase in the pump price of Premium Motor Spirit, otherwise called petrol.
Construction of a US$1 billion project dubbed Virgin City has kicked off in Calabar Municipality in Nigeria’s Cross River State, Governor Ben Ayade has announced.
Energy access in Africa is close to my heart. Bringing clean, renewable power to people instead of building coal-fired power stations is absolutely essential if we are going to tackle climate change.
The Nigerian Civil Aviation Authority in conjunction with the Nigerian Airspace Management Agency has lowered minimum visibility for takeoff and landing of flights for 18 airports which have improved navigational aid.
MTN Group, Africa's biggest mobile phone operator, has said that it assigned a $231 million shareholder loan to phone tower group, IHS Holding Ltd, impacting its 2017 profits.
The Ambassador of the Federal Republic of Nigeria to France, Dr Modupe Irele, on Tuesday announced that France invested about N150 billion (350 million euros) in Nigeria in 2017.
The Federal Government has approved the establishment of a Liquefied Petroleum Gas extraction plant at Ikuru Town in Rivers state for Green Energy International Ltd, the Operator of the Otakikpo marginal field in OML 11.
Clinigen Group has extended its exclusive agreement with Eisai Europe to obtain the marketing authorisation and subsequently launch Halaven (eribulin), Fycompa (perampanel) and Lenvima (lenvatinib) into 10 African countries.
The Board of Directors of Zenith Bank has approved the appointment of Dr. Temitope Fasoranti and Mr. Dennis Olisa as Executive Directors of the bank effective December 29, 2017.
The conclusion of the sale process of 9mobile has been postponed till January 16, 2018, by both the Central Bank of Nigeria and the Nigerian Communications Commission.
For bond investors, Africa was a happy hunting ground last year. Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover from the commodity bust of three years ago.
The Nigerian National Petroleum Corporation, through its Downstream subsidiary, the Petroleum Products Marketing Company, sold and distributed a total of 1.352.86 billion litres of white products across the country in October, 2017.
Nigeria’s manufacturing giant, Dangote Cement, has received legislative approval from the Liberian Senate for the production of cement in the West African country.
The Central Bank of Nigeria has suspended a review settlement banking arrangement to all clearing sessions for banks and merchant banks, expected to begin January 2.
The Rivers State Government and Shell Nigeria Gas (SNG) have signed a Memorandum of Understanding (MoU) for the distribution of gas to industries in the Greater Port Harcourt area and its environs.
Union Bank of Nigeria has announced changes to the membership of its Board of Directors with the retirement of an Executive Director, Mr. Ibrahim Kwargana and the resignations of three Non-Executive Directors.
The Nigerian National Petroleum Corporation (NNPC) has achieved 98 per cent automation of all transactions involving the supply, marketing and sale of the various grades and blends of Nigeria’s crude oil across the world.
Babafemi Awofala is a professional with experience in advising companies and governments on private investments in energy, real estate and infrastructure, including structuring and executing mergers and acquisitions.
The Nigerian National Petroleum Corporation distributed and sold about 1.3billion litres of petroleum products throughout the country in the month of September, 2017.
Bluedrop Learning Networks, a division of Bluedrop Performance Learning has secured a contract with Solar Sister to scale and build the capacity of their Associates in Nigeria and Tanzania.
Nigerian High Court grants Aiteo’s Benedict Peters global judgment in rem - declares earnings legitimate
The High Court sitting in the Federal Capital Territory, Nigeria has declared that earnings and assets accruing to Oil magnate and Aiteo Energy boss, Benedict Peters were acquired legally through legitimate sources.
Farmcrowdy, a Nigerian digital agriculture platform which allows Nigerians to venture in and sponsor agriculture, has announced that it had closed on seed funding of $1 million from international and local investors.
MainOne, West Africa’s communications Services Company and operator of the premier Tier III Data Center, has announced its official listing by Microsoft as an ExpressRoute Connectivity Provider for Nigeria.
ProvidusBank has launched the World Elite Mastercard offering in Nigeria, providing affluent consumers and frequent travelers with a range of priceless travel benefits and lifestyle privileges both at home and abroad.
Arik Air, Nigeria’s largest carrier is increasing its capacity ahead of Christmas and New Year celebrations to enable customers celebrate the festive season with family and friends.
The Nigerian National Petroleum Corporation (NNPC) has stated that its adoption of a 24-hour depot and retail services cleared the fuel queues in Abuja, Lagos and many states across the country.
East Africa is forecast to show very strong real GDP growth of 5.9% over the full year 2017. The biggest contributor to this expansion was Ethiopia (accounting for a full 2% of regional GDP growth), with its stellar performance of 7.1%.
[Nigeria] NNPC assures local investors of support as multi-million naira tank farm opens in Ogun State
The Nigerian National Petroleum Corporation (NNPC) will continue to offer unflinching support to indigenous private investors in the nation’s Oil & Gas Industry.
Nigeria has signed a joint declaration on Economic Cooperation with the European Free Trade Association (EFTA) in Buenos Aires, Argentina, on the sidelines of the World Trade Organisation (WTO) 11th Ministerial Conference.
Businesses in Nigeria can securely request and receive payments directly from their customers without any hassles using PayU’s innovative and secure product called PayU Receive.
Frost & Sullivan recognizes Nigeria's Credit Registry Services for adopting innovation in credit reporting
Based on its recent analysis of the credit reporting & risk management enterprise software industry, Frost & Sullivan has recognized Credit Registry Services (CRS) with the 2016-2017 Product Leadership Award.
General Electric Nigeria today released a whitepaper titled "The Future of Work in Nigeria. Bridging the Skills Gap: The Key to Unlocking Nigeria’s Inherent Potential".
More than 20 Nigerian and 60 Chinese suppliers met in a strategic sourcing development forum in Shanghai mid-November in the latest effort by Shell Nigeria Exploration and Production Company (SNEPCo) to boost the capacity of indigenous vendors in the oil and gas industry.
APM Terminals, in conjunction with Naija Pride and with the assistance of international development groups, is working to provide modern cold chain transportation alternatives for farmers in the agricultural centers of northern Nigeria.
MainOne and Tizeti have announced the completion of a joint development project with Facebook to enable the expansion of internet services in Lagos.
The Aiteo Group and Benedict Peters, its Executive Vice Chairman have appointed top Nigerian lawyers to complement their international representation efforts within the country.
Imagine a walking, talking ATM. No it is not a machine, Firstmonie agents are humans like you, except you can now perform a majority of your banking transactions with them without stepping into a banking hall.
Erin Energy Corporation today announced it has commenced drilling of the Oyo North West well (Oyo-NW). Oyo-NW is a high-impact exploration well being drilled with the Pacific Bora, asixth-generation drilling rig, on the Company’s offshore Nigeria block 120.
The Government of Nigeria, the Swiss Federal Council and the World Bank have signed an agreement on the repatriation and monitoring of $321 million of funds illicitly acquired by the family of former President, General Sani Abacha.
The Nigerian National Petroleum Corporation has once again emphasized that there is no plan to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide.
The Citi Foundation and the international nonprofit organization TechnoServe have unveiled three new projects to support young entrepreneurs and workers in Africa through the Citi Foundation’s Pathways to Progress initiative.
Nokia to Nokia has been selected to help MTN Nigeria drive its transformation from network- to customer-centric operations and improve the experience for its 52 million customers.