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Tag: Investment

EKEDC chair demands increased investment in electricity sector
Electricity

EKEDC chair demands increased investment in electricity sector

The Chairman of the Board of Directors of Eko Electricity Distribution Company,  Dr Dere Otubu, has advocated for additional investment in Nigeria’s power sector to satisfy the country’s rising energy demand. According to The PUNCH, Otubu made the plea during a recent discussion hosted by the Nigeria-India Business Council’s trade mission to Nigeria in Abuja. […]

Special Economic Zones amass $66bn foreign investment - Report
Business

Special Economic Zones amass $66bn foreign investment – Report

Nigeria’s Special Economic Zones have received more than $66 billion in foreign direct investment and N620 billion in domestic direct investment. The PUNCH reported that the Chairman of the Nigeria Economic Zones Association, Nabil Saleh, said this at the association’s annual general meeting on Wednesday in Lagos. He stated that the investments have resulted in the creation […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Investment

AfDB to partner Enugu govt on investment drive

The African Development Bank has reiterated its willingness to collaborate with the Enugu State Government to increase investment and infrastructure development. The PUNCH reported that during a meeting with Governor Peter Mbah at Government House, the Director-General of AfDB’s Nigeria Country Department, Lamin Barrow, stated that Nigeria was crucial to AfDB’s programs. According to him, the first […]

Kenya waives visa fees for Ethiopia, five other nations
Investment

Kenya, Egypt, Nigeria top Africa’s investment destination list – Report

Africa’s investment landscape is shaping up to be a captivating story of growth and expansion, with Kenya, Egypt, Nigeria, and South Africa emerging as the top funding destinations. According to the “Africa Investment Report 2023,” Kenya, Egypt, Nigeria, and South Africa would account for 68% of the continent’s total investment in 2023. According to the […]

Business

Nigeria needs to balance foreign investment with local growth – KPMG

A professional services firm, KPMG, has stated that Nigeria must strike a balance between attracting foreign capital and supporting domestic growth through policies that favour foreign investment while also building a conducive climate for indigenous enterprises to prosper. According to the firm’s flashnotes published on January 4, 2024, capital importation numbers show a consistent quarterly fall, indicating continued issues […]

Only four Nigeria states attract foreign investment in Q4 - Report
News

Foreign investment in manufacturing sector falls by 54% – NBS

The latest Capital Importation data from the National Bureau of Statistics shows that foreign investments in Nigeria’s manufacturing sector decreased by $326 million (54%) to $279.5 million in the third quarter of 2023 from $605 million in the second quarter. According to The PUNCH, the report’s further research, despite the large decline, the production sector […]

Sony to invest $10m in African entertainment startups
News Tech

Sony to invest $10m in African entertainment startups

The Sony Group on Wednesday announced the launch of Sony Innovation Fund: Africa (SIF: AF), a programme that will aid the expansion of entertainment companies in Africa. Tokyo multinational conglomerate Sony Ventures Corporation (SVC) has set aside $10 million for early-stage entrepreneurs in the gaming, music, film, and content distribution industries. This fund targeted at […]

FG plans to raise $50m impact investment fund
Economy

Why Nigeria is favourite investment destination after China, India – Edun

The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has declared that after China and India, Nigeria is the largest economy that investors are interested in. Edun offered this perspective on Tuesday while briefing journalists on the sidelines of the ongoing World Bank/International Fund Annual Meetings in Marrakech, Morocco. He stressed the significance […]

World Bank bans Nigerian companies, CEO over fraudulent practices
Business

Nigeria to get funding for ID4D project – World Bank

The World Bank has said that Nigeria will now receive funds from the World Bank for the implementation of its Identity for Development initiative because the country has enacted a data protection law. The signing of Nigeria’s data protection law into law satisfied the requirement for the release of funds from the International Development Association, European […]

Investment company VFD Group has announced plans to raise fresh capital amounting to N32.5 billion through a combination of equity and debt, following approval from its shareholders.
Business

VFD Group to raise N32.5bn through equity, debt

Investment company VFD Group has announced plans to raise fresh capital amounting to N32.5 billion through a combination of equity and debt, following approval from its shareholders. According to Premium Times, the Lagos-based firm, which operates in various sectors including banking, real estate, energy, hospitality, and technology, intends to secure N12.5 billion from stockholders through […]

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