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Tag: Nigeria

Business

Nigeria, S’Africa partner on mining to drive industrial growth

Nigeria and South Africa have signed a Memorandum of Understanding to promote mining development, with the aim of boosting industrialization and creating jobs in both nations. This agreement is part of broader efforts to strengthen cooperation under the Nigeria-South Africa Bi-National Commission, which was recently revitalized by Presidents Bola Tinubu and Cyril Ramaphosa. The MoU, […]

Electricity featured

Nigeria slashes electricity export to Niger Republic

The Federal Government has cut electricity supply to the Junta-led Niger Republic by 42%, reducing it from 80MW to 46MW. This reduction has led to a 30 to 50% drop in the country’s power production, prompting Nigelec, the state-owned electricity company, to implement planned power outages, which could last for several days, particularly in Niamey. […]

Business

Nigeria secures $1b investment to boost sugar production 

Nigeria has secured a $1 billion investment through a strategic partnership with Chinese conglomerate SINOMACH to enhance the nation’s self-sufficiency in sugar production. The agreement, formalized via a Memorandum of Understanding with the National Sugar Development Council, outlines plans to jointly develop a large-scale sugarcane cultivation and processing project within the country. This was disclosed […]

NITDA to develop blockchain "Nigerium" for data Security
Business

Nigerian tech development hits N34.3bn growth in 2024

Several Nigerian banks reported strong profit growth in 2024, which is significantly benefiting the country’s technology ecosystem as their contributions to the Nigeria Information Technology Development Fund rose by 57% year-on-year, reaching N34.3 billion. The contributions from Zenith Bank Plc, Guaranty Trust Holding Company Plc, United Bank for Africa Plc, Fidelity Bank Plc, Stanbic IBTC […]

News

Nigeria, Kazakhstan to sign MOU on Agriculture, Trade, IT

Nigeria and Kazakhstan are poised to enhance their bilateral relations through the signing of a Memorandum of Understanding focused on cooperation in agriculture, trade, and information technology. A 30-member delegation from Kazakhstan, led by Deputy Minister of Foreign Affairs Alibek Kuantyrov, is currently in Nigeria to facilitate this partnership. The Ooni of Ife, Oba Adeyeye […]

News

Nigeria, others missing on 2025 US visa waiver list

Nigeria and other African countries are not included in the United States’ new Visa Waiver Program for 2025 as the U.S. updates its policies on permit privileges and eligibility. The U.S. Department of State has updated the 2025 Visa Waiver Program, adding Romania as the newest eligible country effective March 31, 2025 according to Reuters. […]

Ex-Filmhouse MD Moses Babatope launches new entertainment company
News

Nigeria, Germany partner to boost agro-based investments

The 10th edition of Agrofood and Plastprintpack Nigeria brings together Nigerian and German stakeholders to enhance business development and knowledge exchange in agro-based investments. Organized by Fairtrade Messe, the event celebrates a decade of innovation and growth in Nigeria’s agro-food, plastics, printing, and packaging industries. Fairtrade Messe unveiled Germany as the Guest of Honour at […]

IBM exits Nigeria, key African markets, transfers operations to MIBB
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IBM exits Nigeria, key African markets, transfers operations to MIBB

The American technology giant, IBM has announced its exit from Nigeria, Ghana, and other key African markets, transferring its regional operations to MIBB, a subsidiary of the multinational IT conglomerate Midis Group. The transition, set to take effect on April 1, 2025, marks a significant shift in IBM’s African strategy as it implements a new […]

News

Nigeria boosts trade ties, port efficiency with Belgium

Nigeria has become the largest contributor to the Port of Antwerp’s West African freight traffic, with over 6 million tonnes of cargo handled annually. This significant volume underscores the robust trade relationship between Nigeria and this key European maritime hub, reinforcing Nigeria’s position as a pivotal player in regional commerce. This was disclosed in a […]

NBS names three countries with highest capital investment in Nigeria
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Nigeria ranked 9th investment destination in Africa – Report 

Nigeria ranked number nine among top African investment destinations, with Seychelles and Mauritius topping the list. The report assessed 31 countries on the continent, taking into account factors including social and human development, market accessibility, economic performance, and investment climate, according to Bloomberg. Nigeria is seen as an emerging market with substantial development potential, along […]

News

US-Nigeria aviation agreement restored to boost bilateral ties

The United States has announced it will restore an Air Transport Agreement with Nigeria to strengthen bilateral aviation ties between the two countries. This disclosure was made in a statement by the Public Diplomacy Department of the U.S. Mission in Nigeria, according to The Punch. It states that the Agreement, which has been provisionally in […]

News

Trade costs in Nigeria, Ethiopia higher than in US — W’Bank

The World Bank has stated that the cost of trade in Nigeria and Ethiopia is four to five times higher than what is obtained in the United States due to insecurity, higher transportation costs, topography, and poor road infrastructure. The Global lender pointed out in the Africa Pulse published on Monday that price differences between […]