THE Management of China Town in Lagos has begun negotiations with some state governments on ways to attract more direct foreign investments from China into Nigeria. Chairman, Chinese Investors Association for Development and Promotion, and General Manager of China Town, Chief Ronnie Liu, who disclose this during a press tour of the complex in Lagos also said that Management of Chinese Town is concerned with the elimination of sub-standard Chinese products imported into the country and has taken steps to address the problem…
 
More details through: 
https://www.vanguardngr.com/2019/05/chinese-investors-osun-govt-partner-to-attract-direct-investment/
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The African Development Bank Group (AfDB) has approved $200million to boost Nigeria’s electrification project, particularly the off-grid expansion being implemented by the Rural Electrification Agency (REA).
 
A source in the bank, who did not want his name in print because he was not authorised to speak, said the project is expected to provide electricity to households, medium, small and micro enterprises (MSMEs) and public institutions in a least-cost and timely manner…
 
More details through:
https://thenationonlineng.net/afdb-okays-200m-for-nigerias-electrification-project/
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The Managing Director, Shell Petroleum Development Company of Nigeria Limited and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, has said the ongoing Assa North/Ohaji South gas development project in Imo State will produce 600 million standard cubic feet of gas per day, which is equal to about 2,400 megawatts of electricity.
 
He said about 2.4 million homes could enjoy uninterrupted electricity from the power to be generated, according to a statement…
 
More details through:
https://punchng.com/shell-targets-2400mw-of-electricity-from-nigerian-gas-project/
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Microsoft Corp. says it is set to spend $100 million to open its first development centres in Africa to work with local partners and governments, with initial sites in Lagos, Nigeria and Nairobi, Kenya. In a statement on Tuesday, the software giant said it will spend the amount over five years and hire 100 full-time developers at the two sites by the end of 2019 and expand to 500 by the end of 2023…
 
More details through:
https://www.premiumtimesng.com/business/business-news/329904-microsoft-to-invest-100-million-on-nigeria-kenya-tech-hubs.html

The Chief Executive Officer of Rand Merchant Bank Nigeria (RMBN) and Regional Head, West Africa, Michael Larbie, has emphasised that despite the recent economic headwinds in Nigeria, the country remains an attractive investment destination. Larbie, said this whilst speaking during a panel session at the 2019 Annual Investor Day which took place recently in London recently…
 
More details through:
https://www.thisdaylive.com/index.php/2019/05/13/larbie-nigeria-remains-attractive-investment-destination/

Expert has said leather industry is very critical to national growth and development as it can boost the country’s Gross Development Product (GDP) and increase the country’s foreign exchange earnings.

Read More at: https://leadership.ng/2019/05/12/leather-industry-to-boost-nigerias-economy/

Nigeria’s deepwater operations have generated revenue exceeding $180 billion following industry players’ capital investment in excess of $65bn with the potentials for growth amidst untapped abundant opportunities in the sector.

Read more: https://www.dailytrust.com.ng/nigeria-earns-over-180bn-from-deepwater-operations.html
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The federal government has approved the building of a new seaport in Warri at a cost of $3.9 billion. Warri Port Contract has also been awarded for the rail connecting Abuja with Warri and Itakpe and Abuja.

Read more at: https://www.vanguardngr.com/2019/05/fg-awards-3-9b-contract-for-warri-seaport

The United Nations Food for Agriculture Organisation (UNFOA) has launched the Country Programme Framework (CPF) in Nigeria as part of the organisation’s efforts to promote agriculture in the country.
 
Read more at: https://www.premiumtimesng.com/news/more-news/328897-fao-launches-framework-to-support-agriculture-in-nigeria.html
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Digital money transfer company, WorldRemit, says it is expanding its presence in Nigeria by partnering with Paga, a Nigerian mobile money company, for international digital money transfers.
 
A statement said that by using the WorldRemit app or website, the Nigerians in diaspora living in over 50 countries could send money quickly and securely to over 11 million Paga users. It stated, “The new partnership considerably grows WorldRemit’s footprint in Nigeria, expanding the company’s service offering from bank transfer and airtime top-up to include mobile money…
 
More details through:
https://punchng.com/worldremit-partners-paga-on-international-mobile-money-transfers/