Nigeria has retained 8th spot for the second consecutive time as having one of the most attractive investment destinations in the African continent, according to the latest report by Rand Merchant bank on “where to invest in Africa 2020”.
 
The report which delves deeper into the traditional and alternative sectors that are driving African economies to reach ever-higher levels of economic growth analysed 54 African economies according to their investment attractiveness alongside notable advancements in their operating environments…
 
More details through:
https://businessday.ng/news/article/nigeria-retains-8th-spot-on-africas-most-attractive-investment-destination/

The first quarter trade statistics have shown that Nigeria’s non-oil imports by sea surpassed exports by over 463 per cent. This is despite government’s efforts in the last four years to diversify the economy from oil (Nigeria’s major revenue source) to non-oil revenue sources. Also, Nigeria’s total merchandise trade by sea declined by N411.4bn in the first quarter against the value obtained in the fourth quarter of 2018…
 
More details through:
https://punchng.com/non-oil-imports-surpass-exports-by-463/

Importation by cargo (perishable and non-perishable products) from Europe, America and other parts of the world through the country’s airports is seeing a significant increase as a result of the relatively relaxed foreign exchange policy, BusinessDay’s findings show…
 
More details through:
https://businessday.ng/exclusives/article/cargo-imports-jump-21-in-first-half-of-2019/
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Between January and June this year, the Nigerian economy recorded a total investment commitment of $15.15bn in various sectors of the economy, the Nigerian Investment Promotion Commission has said.
 
Figures obtained from the NIPC showed that the $15.15bn proposed investments were made for 43 projects in 12 states and the Federal Capital Territory.
 
Comparatively, the proposed investments for the first half of this year showed a 67 per cent decline when compared to the corresponding period of 2018…
 
More details through:
https://punchng.com/nigeria-records-15bn-investments-in-six-months/

The International Monetary Fund on Tuesday raised the growth forecast of Nigeria’s economy for the 2019 financial year by 0.3 per cent to 2.3 per cent.
 
It disclosed this in its July update on the World Economic Outlook with the theme, ‘Sluggish global growth call for supportive policies’. The Fund in its January report had revised the country’s Gross Domestic Product projection down to two per cent from 2.3 per cent projected in October 2018…
 
More details through:
https://punchng.com/imf-raises-nigerias-growth-forecast-to-2-3/

A list identifying and celebrating Africa’s most inspiring businesses is made of up of 97 Nigerian firms, which accounted for 27 per cent of the total, the highest among countries surveyed in the region. The second edition of the ‘Companies to Inspire Africa’ report, which was launched in Lagos yesterday, was published by the London Stock Exchange Group with support from PwC and other partners…
 
More details through:
https://www.thisdaylive.com/index.php/2019/07/12/nigeria-dominates-africas-most-inspiring-businesses-ranking/

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/

Having recovered from the recession, coupled with impactful policies and reforms introduced by the Federal Government, the Lagos Chamber of Commerce and Industry (LCCI) has said that the nation’s economy is now on a growth path. LCCI, in its economic review of four years of President Mohammadu Buhari’s administration, noted that though the absence of an economic blueprint in the early days of the administration created challenges of uncertainty, but with the launched of the Economic Recovery and Growth Plan (ERGP) in April 2017, it provided clearer economic policy direction of the administration as it has enhanced the level of investors’ confidence and diminished uncertainties…
 
More details through: 
https://www.dailytrust.com.ng/nigerian-economy-now-on-growth-path-lcci.htm

Hope of transforming Lagos to a Smart City is coming alive, as MainOne, connectivity and data centre solution provider, is committing N25 billion to deploy fibre optic infrastructure in Lagos to enable broadband connectivity across the state, through its “Digital Lagos: Broadband for All” plan.

MainOne, recently granted an infrastructure company (InfraCo) licence by the Nigeria Communications Commission (NCC) to build digital infrastructure in Lagos, has drawn out a plan to build over 2,000 kilometres of fibre optic infrastructure with associated electronics in the next two to three years. This will enable Lagos connect all institutions to the fastest networks, in addition to its already existing 700-kilometer network that covers major centres and Yaba, Nigeria’s tech hub.

Funke Opeke, CEO, MainOne, says the company’s ambition to help build a smart Lagos is inspired by the vision of Babajide Sanwo-Olu, the incoming governor, who noted presciently that ‘Technology will improve the rule of law, education, ease of doing business and government processes of Lagos.’…
 
More details through:
https://businessday.ng/technology/article/updated-mainone-makes-n25bn-digital-infrastructure-investment-for-lagos-smart-city-initiative/