More Nigerians, particularly those in rural areas and communities far away from the national power grid, are embracing solar home systems and mini-grids to meet their electricity needs.
 
The report, which covered 2020, noted that access to electricity in Nigeria remained poor because electrification advances failed to keep pace with population growth.
 
Additional data sourced from the document showed that the solar hybrid mini-grid initiative would gulp $213m; energising education programme, $250m; standalone solar home systems, $75m; while energy efficient and productive use appliances would be funded with $20m.
 
The REA report specifically stated that a total of 1,021,510 off-grid connections had been made through the NEP, noting that about five million Nigerians had been electrified through the power connections.
 
It stated that a total of 995,396 solar home systems were deployed, while 67 mini-grids were completed across Nigeria’s 36 states and the Federal Capital Territory to ensure the connections…
 
More details at:
https://punchng.com/how-off-grid-electricity-sustains-nigerian-businesses-households
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Nigeria has begun the process of refining gold, gemstones and other mineral resources in the six geo-political regions of Nigeria.
 
The Minister of Mines and Steel Development, Mr Olamilekan Adegbite said this when he appeared on the News Agency of Nigeria (NAN) Forum in Abuja.
 
He said similar plants had been set up in the North East, Bauchi for processing kaolin, while in the North Central Kogi State was chosen for the establishment of a gold smelting plant.
 
Adegbite also said in the South West, in Ibadan, a gemstone plant had been established while in the South East, a lead processing plant was established in Ebonyi. The minister said in the South-South region, a baryte processing plant had been established, adding that “Nigeria imports baryte to the tune of $300 million every year.
 
More details at:
https://leadership.ng/nigeria-to-begin-processing-of-raw-gold-others-minister

The contributions of telecommunications to the nation’s real Gross Domestic Product increased by 10.52 per cent year-on-year to hit $16.2bn in the first nine months of 2022.
 
In the corresponding period of 2021, the sector contributed $14.7bn to real GDP. According to the National Bureau of Statistics, the sector contributed $26.7bn to nominal GDP within the period under review, a 17.83 per cent y-o-y increase from the $22.7bn it was in the corresponding period of 2021.
 
The NBS explained the gross output of telecoms and information services as, “Revenue from telephone, telex, facsimile, telegraph, and other income from satellite and internet services.
 
More details at:
https://punchng.com/telecoms-contribution-to-gdp-increases-by-10
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The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said annual foreign exchange outflow on study-related to the UK has hit about $2.5bn as visa applications increased.
 
“To put this drawback into perspective, it is equally no news that the number of student visas issued to Nigerians by the UK alone has increased from an annual average of about 8,000 visas as of 2020 to nearly 66,000 in 2022, which implies an eight-fold surge to about $2.5bn annually in study-related foreign exchange outflow to the UK alone.
 
More details at:
https://punchng.com/annual-uk-study-expenses-hits-2-5bn-amid-forex-scarcity
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Nigeria’s Gross Domestic Product, GDP, fell quarter-on-quarter (QoQ) by 1.78 percentage points to 2.25 per cent in the third quarter of 2022 (Q3’22) from 3.54 per cent recorded in Q2’22.
 
NBS said: “The reduction in growth is attributable to the base effects of the recession and the challenging economic conditions that have impeded productive activities. The Q3’22 growth rate decreased by 1.78 per cent points from the 4.03 per cent growth rate recorded in Q3’21 and decreased by 1.29 per cent points relative to 3.54 per cent in Q2’22.
 
However, QoQ, real GDP grew at 9.68 per cent in Q3’22, reflecting a higher economic activity in Q3’22 than the preceding quarter.
 
More details at:
https://www.vanguardngr.com/2022/11/nigerias-growth-momentum-slows-to-2-25-in-q322
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Governor Samuel Ortom of Benue State has expressed optimism that the potential inherent in gold and 33 other solid mineral deposits in the state can be harnessed for its economic viability.
 
Ortom also said the natural potential can make Benue an economically self-reliant federating unit of Nigeria. He said, “Benue State is estimated to be home to a sizable number of about 34 solid minerals found in Nigeria, with limestone, gold, baryte, and salt among those already identified as commercially viable.
 
More details at:
https://dailytrust.com/benue-boasts-of-gold-33-other-solid-minerals

The Certified Institute of Shipping Nigeria (CISN) has said that the blue economy can generate 20 million jobs for Nigerians, because of the numerous opportunities it has created from marine minerals and other sources. Currently, the maritime industry is facing a steady decline in personnel due to a myriad of factors, including retirement, career changes and hiring and funding challenges. The Chief Executive Officer (CEO) of the institute, Prof. Alexander Favour Okwuashi, explained that the country was in a position to earn $53 billion globally in terms of resources.
 
He added that by means of the blue economy, the country had the capacity to create 200 million jobs for the entire African region. Okwuashi said at the 23rd Convocation Investiture and award ceremony at CISN main campus, Lagos, that the blue economy had created big opportunities within the maritime industry, saying that the opportunities covered areas in fleet management, fishery, supply of meat, floating requirements for the dockyard as the maritime had been upgraded up to 28per cent. Okwuashi said: “There is a lot of opportunities in the area of the fishery. There are a lot of floating requirements for the maritime industry which have been upgraded up to 28 per cent from the blue economy.
 
More details at:
https://www.newtelegraphng.com/blue-economy-to-create-20m-jobs-for-nigerians
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PowerChina and Swiber Africa have set up an agro-industrial park in Abia State to drive industrialisation and boost foreign exchange earnings. The project, estimated at over $500m, is targeting to create 20,000 jobs directly and hundreds of jobs indirectly.
 
The project will crisscross communities in Bende Local Government Area, which include Ugwuoke, Alayi, Abiriba, Ozu Item and Ohafia. “The project entails building an agriculture industrial zone, which includes crop planting and processing plants for rice, cassava, cashew nut and related products. The integral part is that everything is for export.”
 
More details at:
https://punchng.com/investors-set-up-500m-agro-industrial-park-in-abia

Over 200 different products ranging from manufactured, semi-processed, solid minerals to raw agricultural products were exported during the period under review. It may interest you to know that, unlike previous records, the export of Nigerian products is gradually shifting from its traditional agricultural exports to semi-processed/manufactured goods. Furthermore, of the top 15 exported products, Urea/Fertilizer recorded 32.49 per cent of total export while Cocoa Beans, Sesame Seed and Aluminum Ingots contributed 12.65 per cent, seven per cent and 5.07 per cent respectively within the same period. The country can do a lot more if more efforts are concentrated on removing non-oil export-identified constraints.
 
More details at:
https://punchng.com/non-oil-export-sector-has-performed-beyond-expectations-nepc-ceo
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Again, the number of Nigeria’s active .ng domain name users picked up, even though slightly from 180,162 in July to 181,275 in September 2022, according to the recent statistics released by the Nigeria Internet Registration Association (NiRA), the body responsible for managing Nigeria’s country code Top Level Domain (ccTLD).
 
The statistics, which THISDAY obtained from the official website of NiRA, showed that in July 2022, total registration, renewal and restoration was 180,162, but the figure increased in August to reach 181,278, and maintained the increase in September, with a slight difference to reach 181,275, which is the current number of active .ng domain name users in the country as at September 2022.
 
More details at:
https://www.thisdaylive.com/index.php/2022/11/10/nigerias-active-domain-name-users-increased-from-180162-in-july-to-181275-in-september
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