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The number of registered electricity customers connected to the grid in Nigeria has ballooned to 9,674,729.
The Nigerian Electricity Regulatory Commission (NERC), which declared this, maintained that the number of customers that are not metered had been depleted by 3.89 million (40.26 percent) as at the end of the third quarter of 2019. The commission added, however, that almost 60 percent of electricity users in the country were still on estimated billing… More details through: https://www.newtelegraphng.com/nerc-registered-electricity-consumers-balloon-to-9-6m/
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Nigeria’s smartphone market grew 5.3 percent quarter on quarter (QoQ) in Q4 2019, according to the latest figures from global technology and consulting services firm, International Data Corporation (IDC).
This growth comes on the back of a 3.2 percent QoQ increase in Q3 2019 after the market suffered a slow H1 2019, which translated into a 3.5 percent year-on-year (YoY) decline for 2019 as a whole. Meanwhile, Ghana saw smartphone shipments increase 6.1 percent QoQ in Q4 2019 and 9.1 percent YoY for 2019. Combined, these two countries saw shipments of 12.6 million units in 2019… More details through: https://www.newtelegraphng.com/report-nigerias-smartphone-market-grows-by-5-3/ Nigeria and three other countries are expected to grab $7.41 billion or 70 percent of the $10.59 billion cocoa output in this year.
It was learnt that total cocoa beans output would reach 4.8 million tonnes this year as demand for chocolate, cocoa beverages, butter, paste and powder rises in the global market. In 2019, earnings by the major producers was $9.89 bllion but forecast by the International Cocoa Organisation (ICCO) has revealed that proceeds from the beans this year, would jump by 7.69 percent in 2020 or $10.59 billion… More details through: https://www.newtelegraphng.com/nigeria-others-to-earn-7-41bn-from-cocoa/ Samsung Heavy Industries Nigeria (SHIN) has recorded another major milestone in its operation as its fabrication & integration yard expanded services following a new lease from the Nigerian Port Authority (NPA).
SHIN had received an approval from NPA backed by Presidential Committee for their license application to operate a private jetty for its Fabrication and Integration yard in Tarkwa Bay, Lagos. According to a statement by the shipbuilding giant, the new direct lease agreement opens up opportunities for more international projects, partnerships and an expanded service offering for the world-class facilities with over 500m length of robust quay wall, where Samsung made investment of over $300 million… More details through: https://thenationonlineng.net/samsung-expands-activities-in-lagos-shipyard/ Nigerian firms are to source 5.1 million tonnes of wheat valued at N385.3 billion ($1.06 billion) from four countries this year due to low production. The country has capacity to produce only 1.17 percent or 60,000 tonnes of the grain demand as global price hits $207 per tonnes.
It was learnt that Russia, the United States, Canada and Australia would supply the bulk of Nigeria’s wheat imports destined for milling before the end of the year… More details through: https://www.newtelegraphng.com/firms-to-source-n385bn-wheat-from-4-countries/ BUA Group, one of Africa’s largest infrastructure companies has announced its acquisition of majority shareholding in P.W. Nigeria Limited – one of Nigeria’s largest construction, engineering and mining companies. According to BUA, this was necessary to further deepen its investments in the infrastructure business in Sub-Saharan Africa.
Speaking on the acquisition, Abdul Samad Rabiu, Executive Chairman of BUA Group said, “This acquisition marks the beginning of the next phase of our medium-term strategy for our infrastructure business following the completion of the consolidation of our cement arm, BUA Cement, in January 2020… More details through: https://www.vanguardngr.com/2020/03/bua-group-acquires-majority-interest-in-construction-mining-giants-p-w-nig-ltd/ From an estimated 200 million Nigeria’s population, not less than a 80 million Nigerians now have access to high-speed internet together with the volume associated with broadband networks. This increase represents about 40 per cent broadband penetration in the country, the Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami made this known in Abuja at a dinner hosted by the Swedish Ambassador to Nigeria, Carl-Michael Grans.
More details through: https://dailytimes.ng/2020/03/18/broadband-penetration-nigerians-with-access-to-high-speed-internet-hit-80m/ The West Africa Container Terminal (WACT) has received Maersk’s first direct service container ship from Far East at the Onne Port in Rivers State.
The vessel, a gearless 4,800 24-feet Equivalent Unit (TEU) capacity carrier, sailed into Onne Port with Maersk Line flagship under its FEW3 service, thereby becoming the first Maersk vessel to call at Onne Port without first calling at any Lagos port. WACT’s Commercial Manager, Noah Sheriff, said with the development, the FEW3 service has started. He said the company, with its Mobile Harbour Cranes, has been positioned to handle such vessels… More details through: https://thenationonlineng.net/history-as-maersk-lines-first-direct-service-ship-berths-at-onne/ Despite measures put in place to encourage local patronage of Nigerian made vehicles, importation of used vehicles with 2,500 cylinder capacity has reached $406 million (N146.95 billion) in six months.
The imports have continued to surge as the Tincan’s roll-on roll- off terminal took delivery of over 6,000 vehicles in two months this year. Within the last two months of this year, 17 vessels have berthed and discharged vehicles at the Port and Terminal multi-service Limited (PTML) of the port… More details through: https://www.newtelegraphng.com/imports-n146bn-worth-of-used-vehicles/ After years of decline, foreign direct investments (FDI) in the telecommunications sector rose significantly in 2019, reaching $944 million in the 12 months. This represents a whopping 725 per cent growth when compared with $114.43 million investments recorded in 2018.
The full-year 2019 capital importation data released by the National Bureau of Statistics (NBS) showed that the telecommunications sector was among the top attractive sectors in the year. FDI in telecoms accounted for 3.94 per cent of the total foreign funds that came into the country in the year, which stood at $23.99 billion… More details through: https://www.newtelegraphng.com/fdi-in-telecoms-hits-944m/ |
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