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/  

Internet users in Nigeria increased marginally to more than 111.6 million in December 2018, the Nigerian Communications Commission (NCC’s) Monthly Internet Subscribers Data for December posted on its website showed yesterday. It showed that overall internet users increased to 111,632,516 in December 2018 from the 108,457,051 recorded in November 2018, showing an increase of 3,175,465 new subscribers…
 
More details through:
http://thenationonlineng.net/nigerias-internet-users-hit-111-6m/  

Global shipbuilding firm, Samsung Heavy Industries (SHI) has committed over $400 million as tax revenue and investment in Nigeria’s oil and gas sector. The company said it has been investing the money since it was awarded the contract to build the Floating Production Storage Offloading (FPSO) unit for the 200,000 barrels of crude oil per day Egina deepwater field…
 
More details through:
https://www.dailytrust.com.ng/samsung-invests-400m-in-nigerias-oil-gas-sector.html