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As China marks 70 years of its establishment as a nation, and 48 years of diplomatic relations with Nigeria, the Chinese Chamber of Commerce in Nigeria has said that its country’s investments in Nigeria’s manufacturing sector have risen to $3bn cumulatively.
The Vice President of China Chamber of Commerce in Nigeria, Mr Li Yuau, said this on Monday in Abuja at the 70th anniversary of China as a nation celebration… More details through: https://www.dailytrust.com.ng/chinese-investments-in-nigerias-real-sector-hit-3bn.html
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The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo has urged foreign firms seeking to invest in the country to make job creation one of their key focus.
This is as Datasonic Group Berhard, a technology coy from Malaysia, said it planned to invest $100 million in ICT solution services in the country. Adeniyi, at separate meetings with top management of Samsung Heavy Industries (SHI), Korea and Datasonic expressed his excitement that foreign firms were seeking investment opportunities in the country… More details through: https://www.thisdaylive.com/index.php/2019/09/17/minister-harps-on-job-creation-malaysian-firm-plans-100m-investment/ The Central Bank of Nigeria has disclosed that total direct remittances to Nigeria in the first seven months of the year rose by 135.51 per cent to $11.54bn as against $4.9bn reported in the corresponding period of 2018.
Data collected from the apex bank official website revealed that diaspora remittances into the nation’s economy continued to soar amidst series of foreign exchange reforms that tend to attract inflow of capital… More details through: https://punchng.com/direct-remittances-to-nigeria-rise-136-to-11-6bn/ About 174.7 million telecom subscribers in the country spent at least $725 million (N261billion) on airtime last month.
This figure is based on the number of subscribers in the month under review, which was obtained from the Nigerian Communications Commission, and the $4.87 (N1490.22k) industry’s Average Revenue Per User provided by network operators. More details through: https://www.dailytrust.com.ng/174m-telecom-subscribers-spent-n261bn-on-airtime-in-august.html Cuba has said that it will assist Nigeria commence the production of medical equipment and vaccines in the country to tackle some preventable diseases, save lives and create jobs for Nigerians.
The Cuban Ambassador to Nigeria, Carlos Trejo, made this known while addressing newsmen on Monday ahead of the Afro-Cuban conference and Festival holding in Abuja even as he averred that the the last 45 years of Cuba and Nigeria’s relationship has been “very fruitful.”… More details through: https://businessday.ng/health/article/cuba-pledges-to-start-medical-equipment-vaccine-production-in-nigeria/ Domestic utilization of Liquefied Petroleum Gas (LPG) popularly known as cooking gas which was around 40,000 Metric Tonnes (MT) in January 2018 has hit about 78,000 MT in July 2019, indicating about 95 percent increase. The Executive Secretary, Petroleum Products Pricing Regulatory Agency (PPPRA), Abdulkadir Saidu, disclosed this in a statement on Sunday…
More details through: https://www.dailytrust.com.ng/nigeria-records-95-growth-in-cooking-gas-utilization-says-pppra.html Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company says its company has agreed to $2.5b financing with a Chinese lender for pipeline in Nigeria. Kyari also said that the attacks on Saudi crude processing plant and fields can be a "big challenge" for the oil market if the outage is protracted…
More details through: https://www.bloomberg.com/news/videos/2019-09-15/nnpc-agrees-to-2-5-billion-financing-with-chinese-lender-for-pipeline-in-nigeria-video The Federal Government has given approval for the construction of $5.3bn Ibadan-Kano standard gauge rail line.
Minister of Transportation, Rotimi Amaechi, disclosed this on Thursday at the third Maritime Stakeholders’ Interactive Forum. “Just yesterday, we got the approval to complete the $5.3bn Ibadan to Kano rail project. We have also applied for funding to commence a coastal rail for the Port Harcourt to Warri segment,” … More details through: https://punchng.com/fg-approves-5-3bn-ibadan-kano-rail-project/ The Nigeria Liquefied Natural Gas Company, NLNG, would attract investment worth of $7bn in its construction phase, as it announced that SCD Joint Venture, JV, Consortium, comprising Saipem of Italy, Japan’s Chiyoda and Daewoo of South Korea, has emerged the preferred bidder for its Liquefied Natural Gas Train 7 project.
The announcement was made on Wednesday by the Managing Director of the Nigeria LNG, Tony Attah, at the Letter of Intent Signing Ceremony in Abuja… More details through: https://businessday.ng/energy/oilandgas/article/nlng-to-attract-7bn-investment-as-it-announced-sdc-jv-for-its-train-7-project/ METKA, the business unit of Greece-based Mytilineos S.A, an international contractor and industrial manufacturing group, has reaffirmed its commitment to supporting Nigeria’s power sector.
The Managing Director, METKA Power West Africa, Evangelos Kamaris, gave the assurance at the inauguration of a 7.1-megawatts solar hybrid power plant in Bayero University Kano… More details through: https://punchng.com/greek-firm-restates-commitment-to-nigerias-power-sector/ |
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