Uber Technology Inc. is planning to launch its boat business in Lagos, Nigeria’s commercial capital and biggest city, to beat traffic congestion.
 
The ride-hailing service company is in talks with the Lagos state government and regulatory authorities to start Uber Boats services on its waterways, Uber’s Chief Business Officer Brooks Entwistle said Thursday in an interview. “We know the traffic is a priority and we think we can help there,” Entwistle said. “We are having fruitful good discussions with the regulators right now, it is what we are doing this week, we are meeting with partners.” The executive did not give a time line on when the service will begin…
 
More details through:
https://www.bloomberg.com/news/articles/2019-06-27/uber-plans-to-launch-boat-taxis-in-nigeria-s-biggest-city-lagos

A new report, on Wednesday, rated Lagos as the fourth costliest city in Africa, moving up 17 places from last year’s ranking by research firm, Mercer.
 
N’Djamena, Chad, had the highest ranking in Africa, followed by Kinshasa in the Democratic Republic of Congo and Libreville, Gabon in second and third places, respectively. Mercer said the rating was influenced by a number of factors, including currency fluctuations, cost of inflation for goods and services, and volatility in accommodation prices…
 
More details through:
https://punchng.com/lagos-ranks-fourth-as-africas-most-expensive-city/

Nigerian distributed utility company, Arnergy, has raised $9 million in a Series A round of funding led by Breakthrough Energy Ventures with participation from the Norwegian Investment Fund for Developing Countries (Norfund), EDFI, ElectriFI and All On.
The firm noted that the new development would help in achieving its expansion drive.
 
Anergy observed that millions of businesses across Nigeria require 100 per cent reliable and clean energy to maintain seamless operations and profits…
 
More details through:
https://guardian.ng/business-services/nigerian-firm-secures-9m-from-norway-to-boost-renewable-energy/
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The Chief Executive, StarTimes Nigeria, Mr. David Zhang, has disclosed that its total investment in the country since the launch of its operations in 2010, currently stands at $220 million. He said the company had further paid a total of $25 million in taxes to the Nigerian government as well as recruited over 1,000 local staff, 97 per cent of whom are Nigerians…
 
More details through:
https://www.thisdaylive.com/index.php/2019/06/26/startimes-says-investment-in-nigeria-now-200m/

More than 64.3 million Nigerians now have access to broadband Internet, the Nigerian Communications Commission has said. The Executive Vice Chairman of NCC, Prof Umar Danbatta, said this in a presentation at the Digital Africa Conference and Exhibition, which began at Base University, Abuja, on Tuesday.
 
Danbatta, who was represented at the event by a director in the commission, Mrs Iyabo Solanke, also said that the commission would encourage the use of new technology, television White Space, for broadband penetration in rural communities. He said, “As of April 2019, the broadband penetration stood at 33.7 per cent compared with 8.5 per cent penetration in 2015. In real figures, Nigeria has more than 64.3 million subscriptions on broadband services…
 
More details through:
https://punchng.com/64-million-nigerians-now-have-access-to-broadband-internet-ncc/

The Manufacturing Purchasing Managers’ Index (PMI) stood at 57.4 index points in the month of June, indicating an expansion in the manufacturing sector for 27 consecutive months.
 
The Central Bank of Nigeria (CBN), revealed said this in its monthly PMI Survey Report posted on its website yesterday. The report showed that the index grew at a slower rate when compared to the index points recorded in the preceding month…
 
More details through:
https://www.thisdaylive.com/index.php/2019/06/26/nigerias-manufacturing-expands-for-27th-consecutive-month/
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Rungas Industries, an indigenous Nigerian firm, in collaboration with the United Group of Egypt, has secured an executive partnership with Egypt’s National Organisation for Military Production to produce and assist with the distribution of Liquefied Petroleum Gas and Compressed Natural Gas composite cylinders.
 
The firm, which is a subsidiary of Rungas Group of Companies, said the Egyptian government had already allocated 28,000 square metres of land for the $30m project in Alexandria, the home for the Egyptian Gas Industrial Park. According to a statement, the facility will produce 200,000 LPG composite cylinders for domestic use (cooking) and 130,000 CNG cylinders for vehicles and automobiles…
 
More details through:
https://punchng.com/nigeria-firm-to-manufacture-gas-cylinders-in-egypt/
 

A CHINESE company and a subsidiary of Globelink China Investment Group, Hudson Mining Limited, is set to invest $30 million in solid mineral processing in Nigeria. The company decided to invest an initial $3 million and subsequently increase it to $30 million during the first phase of the project. The Chief Executive Officer (CEO) of the company, Mr Solomon Cai, explained that the company intends to invest in tin and columbine in Jos, the Plateau State capital…
 
More details through:
https://thenationonlineng.net/chinese-firm-to-invest-30m-in-mineral-processing/

The market for cassava peel waste is currently valued at $277,000 (N100 million) yearly, it was learnt at the weekend. The Deputy Country Director, Synergos Nigeria, Victor Adejoh,  said the demand for the waste has grown exponentially, adding that it has become a hot cake for fish millers.
 
He said this follows increasing attempt to convert cassava peels as livestock feeds to address shortfalls in the supply of animal feed. He said the development of cassava-peel-for-livestock-feed project is highly promising…
 
More details through:
https://thenationonlineng.net/cassava-peels-market-reaches-n100m/

The Bank of Industry (BoI) has disbursed $82million to some indigenous investors for the purchase of ships. The cash covers support for companies involved in ship repairs and allied investments.
 
The money represents a part of the $200million fund under Nigeria Content Intervention Fund (NCIFUND). The Managing Director of BoI, Kayode Pitan, who spoke at the maiden edition of Nigeria Maritime Finance Fair in Lagos, said the funds provided have created 3,117 jobs across the country…
 
More details through:
https://thenationonlineng.net/boi-disburses-82m-for-ship-procurement/