Against the backdrop of the worsening public power supply, new data have emerged showing that manufacturers in Nigeria spent a total of N246.38bn generating their own electricity between 2016 and 2017. Further analysis of the data compiled by the Manufacturers Association of Nigeria showed that the operators spent N129bn in 2016 and N117.38bn in 2017 on private power generation…
 
More details through:
https://punchng.com/manufacturers-spent-n246bn-on-fuelling-generators-in-two-years-man/    

The Nigerian leather industry has been projected to generate over $1 billion by 2025, the Nigeria Economic Summit Group (NESG) stated in its 2019 macro-economic outlook report…
 
More details through: 
https://www.vanguardngr.com/2019/02/leather-industry-to-generate-1bn-by-2025-nesg/
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The Minister of Transportation, Mr Rotimi Amaechi, has disclosed that the maritime security contract entered into by the Federal Government and an Israeli firm, Messrs HLSI Security Systems and Technologies had already commenced and was ongoing. The minister stated this during the unveiling of the 2019/2020 Maritime Industry Forecast by the Nigerian Maritime Administration and Safety Agency in Lagos on Tuesday…
 
More details through:
https://punchng.com/israeli-firm-commences-195m-maritime-security-contract/

A technology company, Andela, has successfully raised $100m through a Series D funding to build distributed engineering teams.
 
The firm said in a statement that the round was led by Generation Investment Management with participation from existing investors, comprising Chan Zuckerberg Initiative, GV, Spark Capital, and CRE Venture Capital. According to the statement, the Series D funding brings Andela’s total venture funding to $180m…
 
More details through:
https://punchng.com/andela-raises-100m-in-fresh-funding/

The Nigerian e-commerce industry is said to currently worth over $17bn. This is buoyed by a growing cashless economy which has seen digital payment and electronic banking implemented in phases across 27 states of the federation, beginning with Lagos as a pilot in 2012…
 
More details through: 
https://www.vanguardngr.com/2019/01/why-e-commerce-may-headline-nigerias-next-economic-boom/          

Coca-Cola on Wednesday, January 30th announced that it has completed its acquisition of Chi Ltd. in Nigeria. Coca-Cola first announced a minority investment in Chi three years ago and, as planned, has now acquired full ownership of the company…
 
More details through:
https://businessday.ng/exclusives/article/coca-cola-completes-acquisition-of-chi-ltd/       
 

Nigeria and Morocco have completed the feasibility study for the construction of the 5,660km Nigeria-Morocco Gas Pipeline and the facility will supply gas to at least 15 countries in West Africa, the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, announced on Monday…
 
More details through:
https://punchng.com/nigeria-morocco-gas-pipeline-to-supply-15-countries/

A new report has ranked Lagos ahead of Abuja and fourth among the 10 wealthiest cities in Africa with a cumulative wealth of $108 billion. The report published on property news outlet africapropertynews.com was based on the The AfrAsia Bank Africa Wealth Report 2018.
 
The report said though Lagos is not the capital of Nigeria, it serves as the gateway for 80 per cent of Nigeria’s exports and one of the world’s fastest-growing cities…
 
More details through:
http://thenationonlineng.net/lagos-fourth-richest-city-africa-says-report/

Nigeria iron ore reserve stands at 2,542 million tonnes, the Minister of State for Mines and Steel Development Abubakar Bwari has disclosed. He said that this is at an average quality of 36 percent iron content. Bwari stated that Over 95 percent of the current steel production in Nigeria is from scrap metal and the government is focused on developing the upstream mining sector…
 
More details through:
http://thenationonlineng.net/nigerian-ore-reserve-hits-2542-million-tonnes/        

Austrian Technologies Nigeria Limited (ATN) in partnership with Test- & Training International (TTI) – a global leading drivers’ safety training company has concluded plans to build world class training centres in Nigeria for training of truck drivers, as well as other commercial and professional drivers in Nigeria…
 
More details through:
https://businessday.ng/maritime/article/austrian-firm-to-invest-in-building-drivers-safety-training-centres-in-nigeria/