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.’
The Nigerian National Petroleum Corporation has teed-off a major national healthcare intervention project designed to halt medical tourism to foreign destinations through the provision of state-of-the-art hospitals and diagnostic centres across the country.
The African Development Bank has approved a $50 million line of credit to Nigeria’s Sterling Bank Plc to support micro, small and medium sized enterprises (MSMEs) in strategic sectors.
The Nigerian Ports Authority (NPA) has entered into an agreement with the Chinese Guangzhou Port Authority to boost the efficiency of port operations in the West African country.
Digital money transfer service WorldRemit has partnered with Access Bank for instant money transfers to Access Bank accounts in Nigeria.
The Nigerian National Petroleum Corporation has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018.
Clickatell Transact and Kwesé iflix, together with GT Bank and other banks in Nigeria have partnered to offer the freshest line-up of sports, news and entertainment, available to millions of Nigerians, via the Kwesé iflix platform.
As of Monday, September 24, all branches of Skye Bank would wear a new identity, known as Polaris Bank Limited, in the latest take over of a distressed financial institution in the country.
The Legatum Center for Development and Entrepreneurship at MIT, has named South African startup Wala as the grand prize winner of the 2018 Zambezi Prize for Innovation in Financial Inclusion, as well as the regional winner of the MIT Inclusive Innovation Challenge.
Despite an economic slowdown, most African countries are reported to have a positive economic outlook. This is according The Institute of Chartered Accountants in England and Wales, ICAEW.
TE SubCom, a TE Connectivity Ltd company and an industry pioneer in undersea communications technology has secured a contract from connectivity and data center solutions provider, MainOne.
Africa’s entertainment and media industry has entered a dynamic new phase - a third wave of convergence.
International digital money transfer service WorldRemit has partnered with Access Bank for instant money transfers to Access Bank accounts in Nigeria.
Africa50 shareholders have approved the expansion of the Board of Directors to include at least half independent directors.
Kaspersky Lab has revealed the online activities of children across Nigeria, based on statistics from the company’s Parental Control modules.
Aster DM Healthcare, a leading integrated healthcare services provider in Asia, has entered into a partnership agreement with a leading university hospital in Nigeria.
The Insurance Sector in Nigeria enjoyed a steady growth with Premiums increased of 300 per cent from N75 billion to over N300 billion between 2005 and 2015
Boeing and Air Peace of Nigeria have announced a new order for ten 737 MAX 8 airplanes during a signing ceremony in Lagos.
Telecommunication company Orange and MainOne Cable Company have signed an agreement allowing for a major investment by Orange in the West Africa submarine cable system, MainOne.
Opera and Worldreader, the global nonprofit that believes everyone can be a reader, announced on the International Literacy Day that African mobile users have spent more than 4 millions hours of reading books on their mobile phones in 2018.
Union Bank of Nigeria has announced the registration of a N100 billion Debt Issuance Programme and the subsequent inaugural issuance of Series I and II Bonds under the newly registered Bond Programme.
The Nigerian National Petroleum Corporation has signed a Memorandum of Understanding in China with the China National Offshore Oil Corporation towards developing Nigeria’s oilfield services.
Conventionally one is prone to associate blockchain exclusively to cryptocurrency, often bypassing the technology’s versatility to solve a wider range of financial problems.
At first glance, it seems business as usual, but that could not be farther from reality. Business has never been more positive, rapid, nor disruptive.
Internet Solutions, a pan-African telecommunications services provider, has launched the first iDirect DVB-S2X network in Africa, which is currently live across more than 300 sites in Nigeria.
In Sub-Saharan Africa, countries with unreliable power cost some companies as much as 31 percent in sales, according to a new study released by the Center for Global Development.
Francis Vesta is Senior Investment Analyst at Itanna, an offshoot of the Honeywell Group in Nigeria.
Pan-African Financial Institution, United Bank for Africa has announced the commencement of its chat banker ‘Leo’ on the WhatsApp platform.
The Chartered Institute for Securities & Investment (CISI) and the Chartered Institute of Bankers of Nigeria (CIBN) are delighted to announce the signing of a cooperation agreement in London.
The Nigerian National Petroleum Corporation has signed a Memorandum of Understanding in China with Nigerian-Chinese consortia towards developing sustainable biofuels in the country.
Nigerian ISP start-up Tizeti and its consumer facing brand, Wifi.com.ng has closed a Series A round of $3 million.
As part of efforts to grow Nigeria's Information and Communication Technology sector, the Export-Import Bank of China will provide a loan of $328 million to support the country.
MainOne has reiterated its commitment to leading the digital transformation efforts of the Francophone region with an initial investment of $20m on cable landing and data centre projects in Cote D’Ivoire within the next 24 months.
The Nigeria Civil Aviation Authority has recorded over $16.98million as Ticket Sales Charge (TSC) from international airlines and over N9.16billion from local airlines between the months of January to August this year through its automation system.
China National Petroleum Corporation has assured the Group MD of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, of its commitment towards securing funding for the execution of the Ajaokuta-Kaduna-Kano pipeline project.
MainOne and data centre supplier Minkels – part of the publicly traded company Legrand have announced the second phase of the project.
During German Chancellor Angela Merkel’s visit to Africa, Volkswagen signed two memorandums of understanding with the governments of Ghana and Nigeria.
The Board of Directors of the United Bank for Africa has announced the appointment of four new members to its board, subject to the approval of the Central Bank of Nigeria.
In a bid to consolidate its foothold on the shipping business in Nigeria and boost profitability, the Nigerian National Petroleum Corporation has unveiled plans to set up a subsidiary to provide refueling services to ships and other ocean-going vessels.
Nigeria's Dangote has emerged the most valuable brand among the top 50 brands in Nigeria for 2018 which were unveiled in Lagos.
Volkswagen and the government of Nigeria have signed an agreement to develop a joint vision for an automotive hub in that country.
Nigeria’s Nahman Construction and California-based advisory and development firm StoneCreek Partners LLC have entered into a strategic alliance for joint pursuit of development opportunities in the Sub-Saharan Africa region.
From April to June, a total of 20.7 million transactions were carried out in the country through the mobile payment platforms.
Guinness Nigeria delivered has disclosed its performance in the year ended 30 June 2018, showing revenue increased by 14% from N125.92 billion in June 2017 to N142.98 billion.
Paystack, a Nigeria-based startup providing payments tools to businesses in Africa, has raised $8 million in Series A funding.
The Nigerian National Petroleum Corporation will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assah North Ohaji South Areas of Delta and Imo State respectively.
The Emerging Africa Infrastructure Fund (EAIF) has announced the financial close of its 11-year $35 million loan to Indorama Eleme Fertilizer & Chemicals Ltd.
Nigeria’s Gross Domestic Product (GDP) slowed in the second quarter of 2018, according to the National Bureau of Statistics.
The power of technology and fashion have combined in a thought-provoking project that demonstrates how data can transform African cities.
As the business world becomes more and more technology dependent, it has become impossible to separate that technology from any kind of development. Words like ‘investment’ and ‘startup’ seem inevitably connected to ICT.
Efforts by the Nigerian Stock Exchange (NSE), to woo multinational companies in the telecoms, and oil and gas sectors to list on the nation’s bourse may continue to ‘hit a brick wall’.
The Shell Petroleum Development Company of Nigeria says it has recovered over 95 percent of spilled oil from the recent spill incidents on sections of the Trans Ramos Pipeline in Aghoro community, Bayelsa State, and in Odimodi community in Delta State.
The Nigerian National Petroleum Corporation has emphasized that the execution of the strategic Ajaokuta-Kaduna-Kano gas pipeline project is progressing under the original concept of 100 percent contractor financing model.
Itanna will roll out four-month innovation programmes for tech-enabled Nigerian startups from its newly built Enterprise Factory in Lagos, with its pilot cohort of startups receiving USD $25,000 each in investment from Honeywell Group.
Zenith Bank has upgraded its Mobile App to include Qwerty Banking, a new feature that enables users perform banking transactions while chatting on any social messaging platform.
The Nigerian National Petroleum Corporation and Seplat Petroleum Development Company have signed five agreements to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020.
Mines, a Nigerian fintech startup re-inventing credit in emerging markets, has closed a Series A round of $13M led by The Rise Fund, a global fund managed by TPG Growth.
To enhance the ease of doing business (EODB) and technology inclusiveness for Small and Medium Enterprises (SMEs), Madesoftlogic has unveiled ESOPOS, a cloud based Point of Sale (POS) software.
In recent times, there is a growing recognition of the important role that small and medium-scale enterprises (SMEs) play in the economic growth and development of Nigeria.
As part of their shared mission to boost financial inclusion throughout Nigeria, financial inclusion company, Oradian, and the Association of Non-Bank Microfinance Institution of Nigeria, ANMFIN, have launched a strategic partnership.
Guaranty Trust Bank plc has released its audited financial results for the period ended June 30, 2018 to the Nigerian and London Stock Exchanges.
A Nigerian has harnessed the power of apps to bring Nigerians a social media app with a twist.The app is Worldjunction for iPhone and the developer company is Worldjunction LLC from Nigeria.
The Nigerian Stock Exchange has launched X-Pay, the e-payment platform for the Exchange that will enable users to conveniently make payments for products, services, events and trainings offered by the bourse.
The Management of the Nigerian National Petroleum Corporation (NNPC) has distanced the national oil company and its Group Managing Director, Maikanti Baru, from the ongoing political tango in the National Assembly.
The African Development Bank in partnership with the Federal Government of Nigeria has inaugurated a Task Force to drive its first Public-Private Round Table on Youth Employment and Skills Development.
International organisations have shown an increased interest in the Nigerian economy since the stablization of the dollar and the exit from the recent crisis that befell the country.
A new African construction entity, Mota-Engil Nigeria, has been formed to catalyze growth in the local market by focusing on execution of construction contracts and trade enabling infrastructure.
SAP Skills for Africa has kicked off its first ever programme in Nigeria at an orientation event held in Lagos.
In Nigeria, a country of nearly 200 million people, 61% of the adult population is un- or underbanked.
Google has launched a Google Station to provide high quality, high-speed Wi-Fi hotspots in Nigeria.
The Turkish Exporters Assembly and Lagos Chamber of Commerce and Industry yesterday inked a memorandum of understanding at the Turkish-Nigeria Business Forum in Lagos, Nigeria's commercial capital.
The quick passage of a law on factoring in Nigeria is a crucial step in facilitating the ease of doing business and procuring the trust of investors in the country, guests heard recently during a public hearing held at the National Assembly in Abuja.
Diamond Bank's second quarter unaudited financial report for the period ended June 30, 2018 has been released to the Executive Management and the Nigerian Stock Exchange (NSE).
Shell Nigeria Exploration and Production Company Limited (SNEPCO) has donated four ultramodern science laboratories to Eruku Secondary Commercial School in Ekiti Local Government area of Kwara State.