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Africa Alert

Nigeria

Published: 24 Jan 2020 14:30

 Nigeria (48) 

Top Stories

Nigeria, UK:  Govt, UK Investors Sign N153.4bn Trade Deals

Twenty one African countries, including Nigeria, met in London yesterday for the inaugural UK-Africa Investment Summit, which attracted African leaders, UK and African businesses, international institutions and young entrepreneurs. At the summit, attended by a Nigerian delegation led by President Muhammadu Buhari, Nigeria and the United Kingdom (UK) investors, signed business deals worth over £324 million (N153.4) billion ...

Source: This Day (22 Jan 2020 )  Share

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Nigeria:  GDP - World Bank Differs With Govt's Growth Forecast

The World Bank has maintained Nigeria's economic growth in 2020 will be 2.1 percent contrary to the 2.93 percent projected in Nigeria's 2020 budget. The World Bank maintained its Global Economic Prospects which was released recently. This is consistent with its 2019 projections that Nigeria economy will grow by 2.1 percent up to 2021. The Bank in its World Bank's ...

Source: Daily Trust (21 Jan 2020 )  Share

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Nigeria: PDP tackles Buhari, says Amotekun a vote of no confidence on govt

The Peoples Democratic Party (PDP) has stated that Amotekun and other state-sponsored security outfits in various parts of the country are direct votes of no confidence on the Buhari Presidency’s handling of security in the country. The party’s statement is coming on the heels of reactions toward the setting up of Amotekun. Amotekun is the security outfit launched by ...

Source: Premium Times (22 Jan 2020 )  Share

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Nigeria: Increase In Interest Rate Imminent As Inflation Hits 11.98%

Lagos  – The implication of another uptick in inflation rate in the country in the nearest future may lead to tighter monetary stance whereby the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will have no option, but to increase the benchmark interest rate. Nigeria’s inflation rate rose year on year from 11.44 per cent as at the end of 2018 ...

Source: Nigeria Daily Independent (19 Jan 2020 )  Share

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Nigeria: How the Nigerian government is working to reduce public debt

The Debt Management Office of Nigeria (DMO) announced on Friday, January 17, 2020, that the country’s total public debt has risen from its N26.22 trillion figure recorded in September 2019. Patience Oniha, The Director-General of DMO disclosed this information at a media briefing in Abuja. The interactive session sought to review DMO’s activities and its plans for ...

Source: Ventures Africa (21 Jan 2020 )  Share

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Aid & Development

Nigeria:  AfDB to Invest U.S.$250 Million in Water, Sanitation in FCT

The African Development Bank (AfDB), has stated its intention to invest $250 million in the Federal Capital Territory Water and Sanitation Integrated project, aimed at improving water supply and sanitation in the satellite towns. The Senior Director of African Development Bank, Mr. Ebrima Faal, made the revelation in Abuja at the weekend when he led a six-man delegation ...

Source: Daily Trust (20 Jan 2020 )  Share

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Nigeria, UK:  MADE Winds Down Six-Year Agricultural Programme in Niger Delta

Market Development in Niger Delta (MADE), a UKaid-funded programme using the Making Markets Work for the Poor (M4P) approach to generate sustainable inclusive economic growth in the non-oil sector of the Niger Delta, will hold a dissemination event in Abuja as part of activities to wind down the programme. The programme was initiated in 2013 to improve market access to ...

Source: This Day (21 Jan 2020 )  Share

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Nigeria, UK:  UK Budgets £127 Million to Support Nigeria, Other African Countries

The UK has recently announced its commitment to support Nigeria and other African countries with about £127 million. This, according to the current Central Bank of Nigeria's exchange rate, is about N50 billion. The development was disclosed Monday in the UK government statement for the UK-Africa Investment Summit 2020. According to the statement, the summit ...

Source: Premium Times (21 Jan 2020 )  Share

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Nigeria, USA: USAID launches ‘Water for Agriculture’ Activity promotes livelihoods for farmers in the Northeast

The U.S. Agency for International Development (USAID) has awarded a three-year, $8 million Cooperative Agreement to Catholic Relief Services (CRS) that will boost the livelihoods of crop and livestock farmers in the conflict-affected states of Borno, Adamawa and Yobe by improving the water supply in crisis-affected zones in northeast Nigeria.

Source: Africa Newsroom (22 Jan 2020 )  Share

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Agriculture & Food

Nigeria:  Farmers to Get Best Seed Varieties This Year - Seed Council

The National Agricultural Seeds Council (NASC) has assured farmers that they will get the best genetics and varieties of seeds in 2020 in order to boost productivity. Dr Philip Ojo, the Director General of NASC, gave the assurance when the newly appointed Permanent Secretary, Federal Ministry of Agriculture, Dr Muazu Abdulkadir, paid him a visit at the council ...

Source: Daily Trust (16 Jan 2020 )  Share

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Nigeria: Stakeholder calls for policies to drive agricultural export

As Nigeria makes move to reposition the agricultural sector towards achieving self-sufficiency in food production and attract investors in the sector, a stakeholder in the agricultural sector, Dr Abiso Kabir has advocated for favourable policies to drive export ...

Source: Nigerian Tribune (21 Jan 2020 )  Share

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Nigeria: 4.5m Tons rice produced in Nigeria in 2019 great news -BMO

By Mahmud Isa Nigeria’s attainment of five million metric tons in rice production in 2019 and a reduction from 4.5 metric tons to 0.8 metric tons in rice import is an eloquent testimony to the success of President Muhammadu Buhari’s robust economic policies. According to the Buhari Media Organisation (BMO), these figures were contained in the 2019 annual report of ...

Source: Peoples Daily (22 Jan 2020 )  Share

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Banking/Financial Services

Nigeria:  From Compliance to Developmental Regulatory Model

Ebere Nwoji writes on the decision by the regulator of the insurance sector to migrate from compliance-based supervision to a developmental model. The National Insurance Commission (NAICOM), in search of strategies that will enable it develop the insurance market this year, transit from the compliance-based to developmental-based supervision model.

Source: This Day (22 Jan 2020 )  Share

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Nigeria:  Bank Customers Groan As Glitches Mar E-Transactions

Abuja, Lagos — Many customers of the tier 1 bank, Guarantee Trust, yesterday lamented their inability to seamlessly make online transactions due to a major disruption in the bank's electronic channels on Monday and early Tuesday. Daily Trust learnt that the disruption was a result of the software upgrade and network expansion the bank embarked on to accommodate its ...

Source: Daily Trust (22 Jan 2020 )  Share

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Education

Nigeria: Nigerian government signs MoU with IBM to enhance digital literacy

The federal government of Nigeria, in collaboration with the International Business Machine(IBM), has signed a Memorandum of Understanding(MoU) which seeks to bridge the huge digital literacy gap in Nigeria. Dr Isa Ali Ibrahim(Pantami), the Minister of Communication and Digital Economy did the signing on behalf of the Federal Government alongside Mr Dipo Faulkner, Country ...

Source: Ventures Africa (21 Jan 2020 )  Share

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Nigeria:  Sanwo-Olu's Illustrious Strides and Educational Transformation in Lagos

Lagos is ready to take-on the world with the digitisation of basic schools' curriculum and deployment of modern techniques in teaching to maximise learning in all state-owned primary schools. Before this much attention on education, Lagos has enjoyed an impressive reputation as the land of digital nomads, who make defining contributions to several 'Silicon Valley' ...

Source: Premium Times (22 Jan 2020 )  Share

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Nigeria:  Minister Urges Nigerian Youth to Prioritise ICT Skills Over University Degree

The Minister of Communications and Digital Economy, Isa Pantami, has urged Nigerian youth to give priority to acquiring information technology skills over having university degrees. Mr Pantami gave the advice on Monday while commissioning a community information technology centre in Hadejia Local Government Area of Jigawa State. The minister said Nigerian youth are ...

Source: Premium Times (21 Jan 2020 )  Share

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Energy

Nigeria:  What We Are Doing to Improve Power Transmission - TCN MD

Mr. Usman Gur Mohammed is the Managing Director/CEO of the Transmission Company of Nigeria (TCN), a public utility firm that transmits electricity from the Generation Companies (GenCos) to the Distribution Companies (DisCos). In this interview, he speaks of projects mapped out to boost bulk power transmission this year. Under your leadership, TCN launched the 20 year ...

Source: Daily Trust (20 Jan 2020 )  Share

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Nigeria, UK:  UK Builds £230,000 Solar Plant to Support Africa's Clean Energy

The United Kingdom's International Development Minister, Mr. Andrew Murrison, has inaugurated a new £230,000 power repair lab at Clarke Energy, in Merseyside, Liverpool, to improve the standards of solar products in Nigeria, create new jobs, train staff, procure and install testing equipment. The lab is funded through the DFID Africa Clean Energy (ACE) programme in ...

Source: This Day (22 Jan 2020 )  Share

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Nigeria: SPECIAL REPORT: Why Nigeria’s electricity woes will remain despite Siemens’ 23,000MW target

In July last year, the mood of Nigerians was livened up, then some fresh hope followed. President Muhammadu Buhari had just announced a new plan with German tech giant Siemens AG to reverse the hex that is electricity supply in the country where about half of the population lacks grid access, and the rest long-accustomed to blackouts, despite trillions of naira ...

Source: Premium Times (21 Jan 2020 )  Share

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Healthcare

Nigeria:  Experts Call for Legal Framework to Drive E-Health Sector

Mr. Mike Aigbe, a Director at GeneSys Health Information System, on Wednesday called for a proper legal framework of digital health for Nigeria to boost quality service delivery. Aigbe made the appeal during a three-day technical conference on e-health, organised by the Lagos Ministry of Health, in partnership with the Ministry of Science and Technology in Lagos. The ...

Source: Vanguard (17 Jan 2020 )  Share

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Nigeria, China: Coronavirus: Nigeria issues advisory, places port health services on alert

Nigeria has placed its port health service units on alert following the outbreak of Coronavirus , a flu-like disease that has so far killed nine people in Wuhan, a city of 11 million in central China. Since the first case of the Coronavirus was detected last December, at least 471 cases had been confirmed across China mainland, according to Chinese authorities. Cases have ...

Source: Premium Times (22 Jan 2020 )  Share

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Housing/Real Estate/Construction

Nigeria: FG to partner building professionals on standards

To curb the menace of building collapse, the Federal Government has said it would partner building professionals to uphold standards in the industry. The Minister of Interior, Ogbeni Rauf Aregbesola said this during a meeting with the leaders of the Nigerian Institute of Building in Abuja. Aregbesola, who alluded to the philosophy of placing prevention above ...

Source: Nigeria Real Estate (News) (21 Jan 2020 )  Share

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Nigeria:  'How Capital Markets Can Fund Nigeria's Infrastructure Gap'

Lagos — An investment banker and the Head, Debt Capital Markets, FBNQuest Merchant Bank Limited, Mr Oluseun Olatidoye, has stressed the need for sound macroeconomic and policy frameworks to enable the capital market attract investors to long-term domestic projects. Olatidoye stated this in his presentation themed: "Bridging Nigeria's infrastructure Gap, the Capital ...

Source: Daily Trust (21 Jan 2020 )  Share

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Internet/Telecoms/Technology

Nigeria: VerifyMe eyes expansion, increased revenue after securing early-stage financing

Nigerian-based identity verification startup, VerifyMe, this week said it has raised a Series A financing of an undisclosed amount from Consonance Investment Managers, an early stage and growth investing firm focused on Africa. According to the company, the funds will be deployed in the expansion of strategic partnerships and in bringing new digital ID verification products ...

Source: Ventures Africa (22 Jan 2020 )  Share

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Nigeria, Africa: La fintech Flutterwave lève 35 millions $ pour renforcer son activité en Afrique et diversifier ses services

(Agence Ecofin) - La fintech Flutterwave a réalisé une nouvelle levée de fonds d’un montant de 35 millions $. Cette ressource sera employée pour renforcer l’activité de paiement de la firme dans ses principaux marchés africains. Les dirigeants de Flutterwave prévoient également d’agrandir leur équipe de travail, d’investir dans la technologie mais ...Translate

Source: Agence Ecofin (22 Jan 2020 )  Share

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Nigeria: Interview: Overbearing govts scare away investors – Teniola

Mr. Olusola Teniola, National President of Association of Telecommunications Companies of Nigeria (ATCON), believes that investment in the Nigeria telecoms industry will keep declining with government policies that send out confused and mixed messages to the investing community. He also threw more light on USSD charges among other issues. He spoke with EMEKA EJERE in this ...

Source: Hallmark News (20 Jan 2020 )  Share

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Nigeria: E-commerce: a fresh sales channel for young African traders

Catherine Oshotse, a 27-year-old entrepreneur from Lagos, Nigeria, has the internet to thank for her growing business. Selling hair extensions and women’s handbags online to customers across Africa and abroad has grown her client base from 10 in 2015 to more than 1,000 currently. Of these, 70% are in Africa and 20% in the United Kingdom and the United States. “You just ...

Source: How We Made It in Africa (14 Jan 2020 )  Share

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Media

Nigeria: Kano govt sets up committee to check ‘media excesses’

Kano State’s executive council has sanctioned the constitution of a technical committee to look into the issue of professional misconduct and abuse of privilege by media organisations in the state. The state’s commissioner for information, Muhammad Garba, said this on Saturday while briefing journalists on the outcome of the state executive council meeting. Mr Garba ...

Source: Premium Times (11 Jan 2020 )  Share

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Nigeria:  Micromedia Group's Shileola Ibironke Pitches Here Next Two TV Series and Opens a New Cinema in Lagos

Establishing yourself in the Nigerian production sector is a tough business and requires a tricky combination of the ability to persuade sponsors to step up to the plate, a feel for what will work locally but sell continentally and access to finance. Russell Southwood talked to Shileola Ibironke, CEO, Micromedia Group about how she made her first two series, ...

Source: Balancing Act (20 Jan 2020 )  Share

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Mining

Nigeria: ANALYSIS: Shady practices by registered mining companies cost Nigeria billions of Naira

The Nigerian government may have lost about N4 billion in three years, owing to illegal practices and corrupt activities of companies operating in the mining sector in Nigeria, two separate solid minerals audit reports by the  Nigeria Extractive Industries Transparency Initiative  have revealed. The many schemes through which these companies have defrauded the Nigerian ...

Source: Premium Times (22 Jan 2020 )  Share

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Nigeria:  Promoting Investment in Mining Sector

The federal ministry of mining and steel development has embarked on aggressive drive towards attracting foreign investors into the nation's untapped mining resources. When President Muhammadu Buhari assumed office in 2015, his administration wasted no time in recognising the need to diversify Nigeria's fragile economy away from oil. This was to ensure that revenue from ...

Source: This Day (21 Jan 2020 )  Share

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Oil & Gas

Nigeria:  Oil Pipeline Breaks - 45,347 in 18 Years

In the wake of the dastard act that threw major parts of Lagos into mourning Sunday evening, the Nigerian National Petroleum Corporation (NNPC) has revealed that the numbers of pipeline breaks in the last 18 years are 45, 347. The Group Managing Director of the NNPC, Malam Mele Kyari, who released the figures, also emphasised on the need inculcate shared values of ...

Source: Vanguard (21 Jan 2020 )  Share

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Nigeria: NNPC boss urges community to expose pipeline vandalism perpetrators

Mr. Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC) says the corporation is working with security agencies to reduce incidents of pipeline vandalism in the country to the barest minimum, describing the problem as a major national security concern. Kyari spoke on Monday during an inspection visit to the scene of the Jan. 19 NNPC pipeline explosion at Ile Epo, Abule Egba axis of Lagos State ...

Source: Nigeria Real Estate (News) (22 Jan 2020 )  Share

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Nigeria: Methanol production will create more jobs, wealth - FG

THE Federal Government has stated that methanol production technology will create more jobs and wealth for Nigerians, saying that the country is more of a gas than an oil nation. It said the introduction of methanol technology would go a long way in reducing gas flaring ...

Source: Nigerian Tribune (22 Jan 2020 )  Share

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Nigeria: NLNG enters sales deal with TGP

The Nigeria Liquified Natural Gas Limited (NLNG) and Total Gas and Power (TGP) have signed LNG Sale and Purchase Agreement (SPA) for some of the remarketed volumes from NLNG’s Trains 1, 2 and 3. This is disclosed in a statement signed by Eyono Fatayi-Williams, NLNG General Manager, External Relations, in Abuja, on Wednesday. She said the agreement was for the supply of ...

Source: Hallmark News (22 Jan 2020 )  Share

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Politics

Nigeria:  In the Eye of the Storm - Magu and Next Level of Anti-Corruption War

Former Nigeria's Minister of Finance, Dr. Ngozi Okonjo-Iweala, in her seminal book, with the title: Fighting Corruption in Nigeria is Dangerous, captured the obstacles and dangers inherent in tackling corruption in the country. This assertion is premised on the corrosive nature of the scourge and the unscrupulous culture that sustains it among the Nigerian elite and the ...

Source: Vanguard (22 Jan 2020 )  Share

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Nigeria: Nigeria files graft charges against ex-minister over oil scandal

Nigeria's anti-graft agency on Tuesday filed corruption charges against a former justice minister over a $1.3bn dollar oil scandal involving international majors Shell and Eni. Mohammed Adoke was arrested last month on arrival from the United Arab Emirates where he had been detained on a Nigerian warrant in connection with one of the West African state's biggest-ever ...

Source: News24 (22 Jan 2020 )  Share

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Nigeria: Calls for secession not acceptable, says Atiku

By Lateef Ibrahim, Abuja Former Vice President and presidential candidate of the Peoples Democratic Party, PDP, Alhaji Atiku Abubakar has warned that all calls for secession must be quashed by the might of the Nigerian state without exceptions. This is as he called on all and sundry to speak up on the matter of the nation’s internal security as a means of self-defense. ...

Source: Peoples Daily (22 Jan 2020 )  Share

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Nigeria: Imo: The Inside story Intrigues behind Ihedioha’s downfall

It was Thursday afternoon in Orlu town, Imo State, and the initial shock which greeted the Supreme Court pronouncement sacking Hon. Emeka Ihedioha from office as governor and declaring Senator Hope Uzodinma candidate of the All Progressive Congress (APC) governor-elect two days earlier on Tuesday had dissipated. Everyone had busied himself with whatever he did to put food on ...

Source: Hallmark News (22 Jan 2020 )  Share

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Nigeria: BIAFRA — Nigeria’s unending war

In January 1970, the tragic Nigeria-Biafra war which began 30 months earlier in 1967, came to an end at the cost of an estimated 2.5 million lives, mostly on the Biafran side – and mainly on account of starvation – with the defeat of the short-lived Republic of Biafra which was consequently reabsorbed into the Nigerian federation with a no victor no vanquished ...

Source: Hallmark News (21 Jan 2020 )  Share

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Ports & Shipping

Nigeria, South Korea:  Samsung Takes Over Ladol Base

After a careful review of the case between Samsung Heavy Industries, SHI, and the Lagos Deep Offshore Limited, LADOL base, the Nigerian Ports Authority, NPA, has leased a total of 11.2426 hectares of the land to SHI with a view to protecting the company's investment at the base. In a letter of offer sighted by Vanguard Maritime Report, the value of the lease is put at ...

Source: Vanguard (22 Jan 2020 )  Share

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Nigeria: ‘Apapa residents converting property to private jetties’

The Nigerian Ports Authority has raised the alarm, that residents of Apapa are turning their properties into private jetties and terminals where they berth barges and evacuate cargoes. Managing Director of the NPA, Hadiza Bala-Usman, who raised the alarm at a stakeholders’ meeting organised by the Nigerian Shippers’ Council in Lagos recently, said that the ...

Source: Nigeria Real Estate (News) (17 Jan 2020 )  Share

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Nigeria: Lekki port breakwater reaches 50% completion stage

The management of the Lekki Port located at the Lagos Free Trade Zone said it has achieved 50 per cent completion of the breakwater, which is one of the largest and critical parts of the port construction ...

Source: Nigerian Tribune (22 Jan 2020 )  Share

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Trade & Investment

Nigeria, UK:  Brexit - We Want New Deal With UK - Buhari

President Muhammadu says Nigeria wants a new settlement that not only brings closer relations but also unleashes trade within the commonwealth with the United Kingdom as her exit of the European Union is now all but certain. Buhari, in a piece released yesterday titled "A New Case for a Commonwealth based on trade", said greater UK engagement in Nigeria's economy would ...

Source: Daily Trust (20 Jan 2020 )  Share

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Nigeria:  Nigeria Record 15.02% Increase in Export in Q'3 2019

Following the closure of land borders by the Federal Government and placing of ban on some imported items by Central Bank of Nigeria, CBN, the country has recorded an exponential growth of 15.02 percent in export in the last quarter of 2019, as against 8.97 recorded in Q'3, 2018. A report recently released by the National Bureau of Statistics, NBS, on import and export ...

Source: Vanguard (22 Jan 2020 )  Share

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Transport

Nigeria:  Nigeria Ranked 110 in Global Logistics Performance Index

As Nigeria, especially commercial centres grapple with crippling traffic, poor port and road infrastructure, the nation has been ranked 110 out of 160 countries in Global Logistics Performance Index (LPI). The LPI is an interactive bench-marking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and ...

Source: This Day (10 Jan 2020 )  Share

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Nigeria:  Amaechi Summons Emergency Meeting of Stakeholders Over Delay of Rail Projects

Ibadan — The Minister of Transportation, Mr. Chibuike Amaechi yesterday in Ibadan, the Oyo State capital, summoned the Nigerian Port Authority (NPA), the Chinese Civil Engineering Construction Company (CCECC) and TEAM Nigeria Limited to an emergency meeting over the continued excuses, delays and possible non-completion of the ongoing lagos-Ibadan rail project as ...

Source: This Day (21 Jan 2020 )  Share

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