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The mobile telecommunications industry contributed $21 billion to gross domestic product (GDP) in 2017, representing 5.5 per cent of Nigeria’s total GDP. In addition, the growth of Nigeria’s digital economy resulted in the creation of nearly 500,000 direct and indirect jobs…
More details through: https://leadership.ng/2018/11/30/telecom-industry-contributes-21bn-to-nigerias-gdp/
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Nigeria is in preparatory mode for roll out of 5G services by the official global launch date of 2020, pushing the broadband revolution by modernizing regulation and policy reforms to boost the country’s digital economy and accelerate internet access for millions through increased mobile broadband penetration…
More details through: https://www.businessdayonline.com/exclusives/article/nigeria-leads-5g-conversation-ahead-sub-saharan-africa/ The federal government is expected to commit about N5 billion worth of investments towards ranches development in Kaduna. This disclosure was made by the Permanent Secretary Ministry of Agriculture and Forestry, Kaduna State, Abdulkadir Kassim…
More details through: https://www.thisdaylive.com/index.php/2018/11/30/fg-to-commit-n5bn-in-ranches-in-kaduna/ Nigeria’s economy is projected to grow slightly below 2 percent in 2018, largely driven by non-oil industry and services, according to the World Bank Nigeria’s bi-annual Economic Update released on Wednesday. Titled Investing in Human Capital for Nigeria’s Future, the World Bank, in the report raised concerns that, Nigeria, like many other countries, has underinvested in human capital and remaains very low compared to other countries. The World Bank also notes that Nigeria’s emergence from recession remains sluggish, and sectoral growth patterns are unstable…
More details through: https://www.businessdayonline.com/business-economy/article/nigeria-economy-grow-slightly-2-2018-world-bank/ Minister of State for Mines and Steel Development, Abubakar Bwari, has said Nigeria imports $3.3 billion worth of steel and associated derivatives yearly.
Addressing the 16th Mines and Money in London, the minister explained that “we needed 17 million tons, but local production of the products was mere 2.2 million per annum.”… More details through: https://guardian.ng/business-services/nation-imports-3-3b-steel-products-yearly/ The U.K.’s development finance arm, CDC Group Plc, may invest more than $1 billion in Nigeria over the next four years as the government looks to increase business ties with Africa after it leaves the European Union in March…
More details through: https://www.bloomberg.com/news/articles/2018-11-28/cdc-may-invest-1-billion-in-nigeria-in-post-brexit-africa-drive Nigeria has awarded a mining contract to ten exploration and consulting companies as part of the country’s efforts to develop the sector, the mining and steel development minister said on Tuesday. Abubakar Bawa Bwari did not say how much the contracts were worth but in July he had said eight firms would be awarded a government contract to the tune of 12.7 billion naira ($41.5 million)…
More details through: https://af.reuters.com/article/nigeriaNews/idAFL8N1Y25G5 Indian High Commissioner to Nigeria, BN Reddy, has affirmed that the diverse potentials of Nigeria and its population make it attractive for investments, as his country plans to make Nigeria its business hub in West Africa.
More details through: https://www.businessdayonline.com/business-economy/article/india-plans-make-nigeria-business-hub-west-africa-envoy/ Activities towards the development of Nigeria into an automotive hub commenced yesterday in Lagos with a kick-off workshop for key stakeholders from the public and private sectors in Nigeria, as well as senior management of Volkswagen led by Thomas Schaefer, the Head of Sub-Saharan Region and Managing Director, Volkswagen South Africa…
More details through: https://www.premiumtimesng.com/business/business-news/297525-volkswagen-spearheads-workshop-to-make-nigeria-automotive-hub.html The Federal Government has signed an agreement with the government of Japan for the rehabilitation of the Lagos Transmission Substation. The Minister of Budget and National Planning Senator Udo Udoma signed on behalf of the Federal Government while the Japanese Ambassador to Nigeria, Mr. Yutaka Kikuta, signed on behalf of the government of Japan. The minister said the project is donated by the Japanese government at the cost of ¥2.349bn ($21.08m)…
More details through: https://punchng.com/fg-seals-21m-power-plant-rehabilitation-pact-with-japan/ |
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