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The Nigerian Defence Industries Corporation (DICON) through the Ministry of Defence (MOD) has entered into a Public-Private Partnership with Sur Corporate Wares of the Republic of Turkey. The partnership is expected to bring an estimated $1.1 million (N4 billion) investment by Sur Corporate Wares in the establishment of a military and paramilitary clothing and accessories factory to be set up in Kaduna state…
More details through: https://www.dailytrust.com.ng/nigeria-gets-n4-billion-investment-in-military-clothing-factory.html
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MainOne has said it will enhance a metro fiber infrastructure network project in two states of Nigeria, with support from Facebook. The infrastructure collaboration is part of Facebook’s efforts to connect more people to broadband internet. As part of the project, MainOne is building and operating approximately 750 km terrestrial fiber infrastructure in Edo and Ogun States…
More details through: https://www.thisdaylive.com/index.php/2019/02/28/mainone-facebook-enhance-open-access-fiber-network/ The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), and stakeholders in the mining industry have sought increased investments in Nigeria’s mining sector.
Indeed, the stakeholders lamented that despite the huge potential of the sector, it is yet to be given the attention it deserves to change the narrative of the Nigerian economy, adding that the volume of iron ore alone can generate over $60 billion on yearly basis if well managed… More details through: https://guardian.ng/business-services/nigerias-iron-ore-can-generate-60-billion-yearly/ Nigeria has been named Africa’s largest economy for the second year in a row by multinational professional services network PricewaterhouseCoopers (PwC). The auditing firm disclosed this in the latest edition of its Nigeria’s economic outlook titled: “Top 10 Themes for 2019,” distinguishing the Nigerian economy from other seven.
Nigeria led the pack in the western part of the continent with Kenya falling short to Ethiopia in the East African region. The level of competition in East Africa was quite tight with various sectors accounting for the hefty foreign investments… More details through: https://www.thisdaylive.com/index.php/2019/02/27/report-nigeria-remains-africas-largest-economy/ BUA Group has signed a contract with Wartsila Oy of Finland for the construction of a 48 megawatt (Mw) power plant for Sokoto Cement line three in Sokoto State. This is coming two months after the firm announced that it has signed a contract with world’s renowned cement manufacturing company, CBMI, for the construction of a new cement line in Sokoto State…
More details through: http://thenationonlineng.net/bua-finnish-firm-seal-48mw-power-project/ Despite the challenging operating environment, interest from foreign brands in the country’s retail market remains strong, a report by real estate services firm, Broll Nigeria says.
In its analysis of the retail sub-sector in the last quarter of 2018, the firm said international brands’ interest in the country had not waned, even with the low purchasing power of consumers. “These brands were mostly interested in franchise agreements with experienced local operators,” the report stated… More details through: https://punchng.com/more-foreign-investors-eye-nigerias-retail-market-report/ Maersk Line has said that it is reviewing its freight rates, Peak Season Surcharge upwards for all cargoes coming to Onne from any part of the world, effective March 11, 2019, for non-regulated corridors and April 1, 2019, for regulated corridors.
It said the freight rates for cargoes coming from any part of the world to Onne would be $750 per 20-foot and 40-foot containers, while cargoes coming from the United Kingdom and Ireland to Onne would attract 660 Euros… More details through: https://punchng.com/maersk-to-increase-freight-rates-in-nigeria/ The value of electronic payment transactions (e-payment) rose sharply by 32 per cent to $383 billion (N138 trillion) in 2018, reflecting increased adoption of electronic payments for goods and services…
More details through: https://www.vanguardngr.com/2019/02/e-payment-transactions-shot-up-by-32-to-n138trn/ The Bayelsa State Government has opened its over $167 million (N60bn) international airport.
The airport, known as Bayelsa International Airport, was opened on Thursday with an inaugural flight by the Governor, Seriake Dickson, from Abuja, at a few minutes past 2.00pm followed by an Air Peace flight from Lagos, at 2:40 pm. Dickson said the airport was built to improve the economy of the state, and would soon be fully inaugurated for both local and international flights… More details through: https://punchng.com/bayelsa-govt-opens-n60bn-airport/ The West African Container Terminal (WACT), Onne Port, Rivers State, has ordered 10 terminal trucks, two reach stackers and one empty container handler worth $2.5 million (N900 million), to cope with increasing volume at the terminal.
The Managing Director of WACT, Aamir Mirza, stated this during the inauguration of four new terminal trucks to enhance service delivery to its customers. The four new trucks arrived the country recently. Mirza, said the increase in cargo volume at the terminal necessitated the need to increase the number of the cargo handling equipment and truck fleet… More details through: https://www.thisdaylive.com/index.php/2019/02/15/wact-orders-2-5m-equipment-to-handle-container-volume/ |
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