News
Nigeria launches electronic portal to woo investors
05-24-2018 | 11:16:48
Nigeria has launched iGuide, an online investment portal, as it seeks to position itself as an investment hub to local and international investors.


Shell Nigeria spends N14.85bn on GMoUs in Rivers State
05-24-2018 | 10:58:23
A total of N14.86 billion has been invested by the Shell Petroleum Development Company of Nigeria operated Joint venture on Global Memorandum of Understanding (GMoU) clusters in Rivers State.


Chinese firm, Nigeria sign $6b Lagos-Kano rail project agreement
05-24-2018 | 10:36:00
Nigeria has signed an agreement of $6.68billion with China Civil Engineering Construction Corporation for a major segment of rail line linking the economic capital Lagos with Kano, northern Nigeria's commercial hub.


Facebook partners with CcHub to launch NG_Hub in Lagos, its first hub space in Africa
05-24-2018 | 10:31:00
As part of its commitment and ongoing investment in Africa, Facebook today unveiled NG_Hub in Lagos, Nigeria - its first flagship community hub space in Africa, in partnership with CcHub.


Lidya raises $6.9 million in a Series A Round led by Omidyar Network
05-24-2018 | 09:43:42
Lidya, the digital financial services platform focused on improving access to credit for micro-, small-, and medium-sized enterprises in Africa has raised $6.9 million in a Series A investment round, one of the largest in Nigerian tech history.


NNPC, NPA forge closer ties to ensure petroleum products supply in Nigeria's ports
05-24-2018 | 09:16:00
The Nigerian National Petroleum Corporation and the Nigerian Ports Authority have expressed readiness to ensure seamless reception of petroleum products into the various ports across the country.


Shell Nigeria Gas boosts domestic gas distribution capacity by 150%
05-21-2018 | 08:46:42
Shell Nigeria Gas has increased its domestic gas distribution capacity by 150% over the last six months.


African Development Bank approves $100m loan to Indorama for expansion of fertilizer production
05-21-2018 | 08:29:00
The African Development Bank has approved $100m senior loan to Nigerian firm, Indorama Eleme Fertilizer & Chemicals, to support the company’s plans to double its fertilizer production from 1.4 million tons of urea to 2.8 million tons per annum.


NNPC recommends split of petroleum licences
05-17-2018 | 09:10:43
The Nigerian National Petroleum Corporation (NNPC) has recommended the splitting of petroleum licences into two components for prospecting and production phases under the draft Petroleum Industry Administrative legislation currently before the National Assembly.


Diamond Bank posts N1.8bn for Q1 2018 in mobile banking revenue
05-15-2018 | 14:28:05
Diamond Bank has released its Q1 2018 unaudited financial results on the floor of the Nigerian Stock Exchange, highlighting realignment in its group structure with a strong focus on the Nigerian market.


Lagos, Accra, seven other African cities commit to delivering their share of the Paris Agreement
05-15-2018 | 13:53:00
Accra, Addis Ababa, Cape Town, Dakar, Dar es Salaam, Durban, Johannesburg, Lagos, & Tshwane today revealed their commitment to bold climate action and pledged to deliver on their share of the Paris Agreement.


Bonga achieves 763 million oil barrels production since inception in 2005
05-15-2018 | 12:21:00
Shell Nigeria Exploration and Production Company (SNEPCo) delivered a total of 763 million barrels of oil from the Bonga field between first production in 2005 and 2017.


Nigerian government partners with John Deere Tractors to ease farmers’ access to agricultural mechanization
05-14-2018 | 13:16:05
The Government of Nigeria through the Ministry of Agriculture and Rural Development is partnering with Global Agricultural equipment manufacturers, John Deere Tractors to improve farmers’ access to mechanization.


Shell fund supports Nigerian contractors with N472 billion loans
05-14-2018 | 12:23:02
Some 290 Nigerian contractors have received loans worth more than N472 billion under the Shell Contractor Support Fund, which was set up by Shell companies in Nigeria to help vendors and suppliers in the oil and gas industry secure funds at reduced interest rates.


Mele Kyari appointed Nigeria’s OPEC national representative
05-14-2018 | 09:54:39
The NNPC has announced the appointment of Mallam Mele Kyari, incumbent Group General Manager in charge of its Crude Oil Marketing Division, as Nigeria’s National Representative to the Organization of the Petroleum Exporting Countries (OPEC).


Paxful expands Africa investment with launch of Nigerian Blockchain Incubator Hub
05-10-2018 | 14:09:06
Paxful, a global peer-to-peer bitcoin technology company, is building a blockchain technology incubation hub in Lagos, Nigeria, as part of its growing investment in Africa.


African Development Bank approves $1.5m for Jigawa on-grid IPP solar power procurement program
05-10-2018 | 12:53:00
The Board of Directors of the African Development Bank has approved a US $1.5-million grant from the Sustainable Energy Fund for Africa to support the Nigerian Government’s implementation of Phase 1 of the Jigawa 1-GW Independent Power Producer Solar Procurement Program.


Nigeria's first Marine Engineering Centre of Excellence commences Masters programmes
05-10-2018 | 10:24:27
The pioneer post graduate students at the Marine and Offshore Engineering Centre of Excellence have commenced studies at Rivers State University, Port Harcourt, involving 18-month academic and field work.


NNPC Retail now holds 14% of retail business
05-10-2018 | 10:03:59
The Nigerian National Petroleum Corporation (NNPC) said Downstream subsidiary, the NNPC Retail Limited, now holds 14 per cent of the market share of petroleum products retail business in Nigeria.


Perpetual Communications and Annecto in new deal to expand telecom business in Nigeria
05-10-2018 | 09:54:47
Annecto Telecom and Perpetual Communications Limited have announced that PCL has selected Annecto Telecom as its exclusive technical and trading partner to provide voice, data, SMS and VAS aggregation services in Nigeria.