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An analysis of institutional acquisitions and disposals in real estate investment valued at $1.8 billion across Africa in the past two decades reveals that Nigeria has the largest real estate investments by country.
The country has, within this period, attracted $523 million investment into the sector, ranking ahead of Mozambique and Mauritius that were ranked second and third with $268 million and $256 million investment, respectively. What this means is that opportunities abound in the Nigerian real estate market and savvy investors are not glossing over that. The country is almost a green field for investors. The size/value of real estate opportunity in the country is estimated at $56 billion… More details through: https://businessday.ng/real-estate/article/nigeria-outshines-peers-as-largest-real-estate-investment-by-country/
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President Muhammadu Buhari on Saturday said that his administration has approved four new seaports to create employment opportunities and foreign investment inflows across the country.
The President, who disclosed this in his national broadcast to commemorate Democracy Day, said four new seaports have been approved to be constructed under Public-Private-Partnership (PPP) arrangements. According to him, the four sea ports include; Lekki Deep Sea Port, Bonny Deep Sea Port, Ibom Deep Sea Port and Warri Deep Sea port, adding that the seaports would create massive jobs and investment inflows… More details through: https://www.sunnewsonline.com/buhari-approves-4-new-seaports-to-boost-foreign-investment-inflows/ Coca-Cola Nigeria has said it partnered with non-profit organisations to reduce plastic pollution across the country. In a statement on Thursday, it said it would be doing more to promote environmental sustainability as part of efforts to commemorate the World Environment Day. It stated that it had introduced initiatives to protect the environment through its philanthropic arm, the Coca-Cola Foundation…
More details through: https://punchng.com/cocacola-ngos-to-clear-plastic-waste-in-nigeria/ The Food and Agriculture Organisation of the United Nations has categorised Nigeria among the top 10 wheat importers in the world. This is based on the ‘Food Outlook: Biannual Report on Global Food Markets’ by FAO released on Thursday.
According to the report, between 2018/19 and 2020/21, Nigeria imported averagely 5.2 million tonnes, and is forecasted that the import rate will increase to 5. 5 million tonnes by 2021/22, with an increase rate of 5.1 per cent based on a common July/June marketing season… More details through: https://punchng.com/nigeria-among-top-10-wheat-importers-says-fao/ A report by Visa has shown that the top market contributors to e-commerce in sub-Saharan Africa over the last three years were South Africa, Nigeria and Kenya, with Ghana also showing growth, having replaced Kenya in the top three contributors in 2020. According to Africa Business Community, SSA may be one of the smallest regions of e-commerce globally, but it shows steady growth potential. During lockdown, the region saw new e-commerce users rise by five per cent when compared to the active base in SSA the previous year.
“The three leading markets in SSA are starting to mature, providing the region with an established foundation and, when twinned with the growing penetration of e-commerce, it offers players in the payment space an opportunity they can capitalise on while helping to further accelerate the expansion of e-commerce in the region,” explains Lineshree Moodley, Head of Visa Consulting and Analytics (VCA) in sub-Saharan Africa. Visa’s white paper, entitled e-commerce developments across SSA, confirmed that, as the world becomes increasingly digital, e-commerce has been driving the acceleration of digital commerce… More details through: https://www.newtelegraphng.com/visa-nigeria-others-top-e-commerce-drivers-in-ssa/ Nigeria’s biggest mobile payments company is vying to become Africa’s next unicorn, and its ambitions now stretch beyond the continent.
Paga, whose backers include U.S. billionaire investor Tim Draper and former Goldman Sachs Group Inc. economist Jim O’Neill, boasts 17 million unique users including tech entrepreneurs, businesses and individuals in Africa’s most populous nation. Modeled after PayPal, it processed $2.3 billion worth of transactions in 2020 and $8 billion during the past four years, according to Tayo Oviosu, the company’s chief executive officer who founded it in 2009. Paga could reach a valuation of at least $1 billion “in the next year or two,” Oviosu said in an interview… More details through: https://www.bloomberg.com/news/articles/2021-06-11/unicorn-in-waiting-backed-by-draper-maps-transatlantic-expansion In line with its commitment to Nigerian Content Development, Chevron Nigeria Limited (CNL) announced it has spent a combined total of $10 billion on Nigerian suppliers and service providers in the last 10 years. Highlighting the opportunities and new approaches to the future of hydrocarbons at the 2021 Nigerian International Petroleum Summit (NIPS)…
More details: https://businessday.ng/energy/article/local-content-chevron-spends-10bn-on-nigerian-suppliers-service-providers/ A United States-based firm, Woolpert, has been selected to collect, process and deliver topographic mapping across more than onequarter of Nigeria, or roughly 258,000 square kilometers, under a $4.4 million contract with the Ministry of Mines and Steel Development (MMSD). The project is part of the Mineral Sector Support for Economic Diversification Project, also known as Min- Diver, and is funded by the World Bank. According to the report, Woolpert will supply the labour, materials and equipment needed to develop 340 complete topographic mapping sheets and corresponding Multinational Geospatial Co-production Programme (MGCP) data.
The firm will provide 1.5-metre processed satellite imagery, digital elevation models, ground truthing, feature extraction and topographic map data. Woolpert will also implement a streamlined MGCP mapping and cartographic finishing workflow through Esri ArcGIS Pro with Defense Mapping and Production Manager. Additionally, Woolpert has deployed a full-fledged, cloudbased enterprise geospatial data hosting platform coupled with multi-user virtual desktops through Microsoft Azure and Woolpert’s raster service, STREAM:RASTER, to allow for easily managed, cross-continental geospatial production… More details through: https://www.newtelegraphng.com/mining-u-s-firm-fg-in-4-4m-topographic-mapping-pact/ The Minister of State for Industry, Trade and Investment, Ambassador, Mariam Yalwaji Katagum, said this during the flag-off of the 2021 coconut planting season held in Abuja yesterday organized by the National Coconut Producers and Marketers Association of Nigeria (NACOPPNAM).
“The Coconut is a commodity with lots of economic, medicinal and nutritional value and the market for it in Nigeria is huge. Unfortunately, the local supply can only meet about 20 percent of the demand, hence the need to urgently address the supply side constraints,” she said. She said the Association is promoting the establishment of 10,000 hectares of Coconut Plantations in each of the Coconut viable States in Nigeria, under the “One Family Three Coconut Trees” campaign. “This is a programme that can reposition the Coconut industry in our country to be among the largest Coconut producers in Africa and the world at large. Therefore, the 2021 Coconut Planting Season flag-off, is a vital step in a series of activities to actualize the coconut master plan for economic, health and export potential,” she said… More details through: https://dailytrust.com/nigeria-produces-20-of-domestic-coconut-demand-fg The Nigerian Stored Products Research Institute (NSPRI) has disclosed that between 2018 and 2020 Nigeria imported a total of 105,000 metric tonnes of tomato valued at over $39 million (N16 billion) to bridge the deficit gap between supply and demand in the country.
This was disclosed by the Executive Director of NSPRI, Dr (Mrs) Patricia Onoghoeto Pessu, during the North West training of Agricultural Development Projects (ADP) in each agro-ecological zone on technological innovation in post-harvest management held at the NSPRI Kano zonal office. According to her, it is absurd to note that Nigeria produces about 2.3 million metric tonnes of tomato yearly; which makes the country the largest tomato producer in the Sub-Sahara, but that Nigeria is not on the list of official countries that export tomato or tomato products due to issues related to post-harvest losses incurred by farmers… More details through: https://dailytrust.com/tomato-import-gulped-n16bn-in-2-years-nspri |
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