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BUA Group, one of Africa’s leading industrial companies, is set to commence the construction of a 2,000tons/day Plaster of Paris (Gypsum Powder) production plant. This was made known during the signing of an agreement between BUA and MMM Erba Makina of Turkey – one of the world’s leading equipment suppliers for plaster production, for the supply the plant equipment. Upon completion in 2022, BUA’s P.O.P (gypsum powder) production plant will be Nigeria’s largest plaster (gypsum powder) production facility.
Speaking at the signing ceremony, BUA Group Chairman, Abdul Samad Rabiu, said that the signing marked another milestone in the Group’s journey to becoming Africa’s leading manufacturing and infrastructure Company… More details through: https://www.sunnewsonline.com/bua-mmm-erba-of-turkey-sign-agreement-on-2000tons-day-plaster-plant/
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Minister of industry, trade and investment, Adeniyi Adebayo, on Tuesday, said investment announcement in Nigeria stood at $10.1 billion in the first half of 2021 (H12021), a 100 percent increase from the same period in 2020. In the first half of 2020, Nigeria attracted $5.06 billion investment due to the impact of COVID-19 pandemic…
More details through: https://businessday.ng/business-economy/article/nigeria-attracts-10bn-foreign-investments-in-6-months-minister/ The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC),Mr.Mele Kyari, has said that Nigeria’s oil and gas industry recorded $3 billion investment in five years.
Kyari stated this when he featured on a live television programme Good Morning Nigeria on Nigerian Television Authority(NTA) in Abuja, yesterday. Kyari said of the $50 billion global oil and investment, Nigerian was only able to attract $3 billion, assuring that the Petroleum Industry Act (PIA) will further aid the country’s investment climate as more investors will now have confidence in the sector… More details through: https://www.sunnewsonline.com/nigeria-attracts-5bn-oil-gas-investments-in-5-years/ Despite the increase in the global price, a total of 2.6 million tonnes of wheat valued at N470.6 billion ($941.2 million) have been imported by Nigerian millers in the last six months.
Finding revealed that the price of the grain has gone up in major markets from $230 to $362 per metric tonne as consumers’ food preferences shifted towards wheat products. As of August 9, 2021, wheat quotes for the leading wheat producers rose significantly from between $236 per tonne to $318 per tonne. In Argentina, price of the grain rose to $294/tonne; Australia, $294/tonne; European Union, $280/tonne; Russia, $268/tonne; Canada, $362/ tonne and United States, $318/ tonne. Meanwhile, since the beginning of July, 2021, price of the grain has grew by $48 per tonne in Canada… More details through: https://www.newtelegraphng.com/millers-take-delivery-of-n470-2bn-wheat-in-six-months/ Nigeria’s central bank selected Bitt Inc. as a technical partner to help create its digital currency by the end of the year.
The Barbados-registered financial technology company will help the regulator to launch the new currency, named eNaira, Central Bank Governor Godwin Emefiele said in an emailed statement Monday. The company was picked for its “technological competence, efficiency, platform security, interoperability, and implementation experience,” Emefiele said in the statement… More details through: https://www.bloomberg.com/news/articles/2021-08-30/nigeria-central-bank-selects-fintech-to-launch-digital-currency The telecommunications sub-sector bolstered the country’s Gross Domestic Products (GDP) by $9 billion (N3.7 trillion) in the second quarter of this year. This represented a 2.6 per cent decline when compared with the N3.8 trillion it contributed in the same period in 2020.
However, compared with Q1’21 when the sector’s contribution stood at N3 trillion, the Q2 figure was a 23.3 per cent growth. With this, the telecommunications sub-sector accounted for 9.4 per cent of the aggregate nominal GDP for the economy in Q2, which according to data released by the National Bureau of Statistics (NBS), stood at N39 trillion. The NBS data showed that the Information and Communications Technology sector, led by telecommunications, remained one of the major drivers of the economy… More details through: https://www.newtelegraphng.com/telecoms-contribution-to-gdp-hits-n3-7trn-in-q2/ Nigeria’s economy rose by 5 percent in the second quarter of 2021, the highest it has come in seven years, with the information and communication technology (ICT) sector contributing a major share and becoming the second-largest sector. This is according to the latest data on GDP by the National Bureau of Statistics (NBS)…
More details through: https://businessday.ng/technology/article/covid-pushes-nigerias-ict-sector-to-second-largest/ The Nigerian economy, which exited a recession in December 2020, grew at a real rate of 5.01 percent in the second quarter of this year, the highest since the last quarter of 2014.
This is much higher than a decline of -6.1 percent recorded in the comparable quarter of 2020, as well as the 0.51 percent recorded in the first quarter of this year, the National Bureau of Statistics said in its report. The positive growth recorded in the second quarter of the year marks three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020, the NBS noted… More details through: https://dailytrust.com/nigeria-grows-economy-at-5-in-q2-highest-since-2014 Data usage in Nigeria surged by 202.08 per cent in three years, according to data from the Nigerian Communications Commission.
According to the subscriber/network data reports of 2018, 2019, and 2020, data usage rose from 68,154.12 terabytes in 2018 to 125,149.86TB in 2019 and 205,880.4TB in 2020. The total national and local outgoing voice calls were 121,935,927,123.15 in 2018. The calls grew to 149,584,465,210 in 2019 to 150,825,830,687.40… More details through: https://punchng.com/telecoms-nigerias-data-usage-rises-by-202-in-three-years/ Nigeria’s leading telecommunications firm, MTN Nigeria Communications at the weekend said it would invest more than $1.46billion (N600billion) in network infrastructure expansion over the next three years to improve its services across the country.
Chairman of MTN Nigeria Communications, Dr Ernest Ndukwe, who disclosed this during the company’s 20th anniversary celebration on Sunday in Lagos said the company would continue to identify with Nigerians and the Federal Government development aspiration through its Corporate Social Responsiblity initiatives among other imperatives. MTN had launched out its services in Nigeria on August 8, 2001, and has sofar connected about 69 million people in various communities across the country since inception… More details through: https://www.sunnewsonline.com/mtn-to-invest-n600bn-on-network-expansion/ |
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