Tag: Nigeria
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Nigeria Among Top Three Investment Destinations in Sub-Saharan Africa, KPMG Reports
KPMG’s latest report, ‘Doing deals in sub-Saharan Africa 2024,’ has identified Nigeria as one of the top three destinations for future investments in sub-Saharan Africa over the next two years, alongside South Africa and Kenya. The survey of international and domestic investors shows South Africa leading with 28 percent of expected investments, followed closely by…
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Shell Invests in Nigeria’s Bonga North Deep-Water Project
Shell Nigeria Exploration and Production Company Limited (SNEPCo) has approved a final investment decision for the Bonga North deep-water project off the Nigerian coast. The project involves drilling 16 wells, including 8 production and 8 water injection wells, and will be tied back to Shell’s existing Bonga Floating Production Storage and Offloading (FPSO) facility. With…
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Access Bank to Acquire Bidvest Bank in Major South African Expansion
Access Holdings Plc has announced a binding agreement to acquire a 100% equity stake in Bidvest Bank Limited, a strategic move aimed at expanding its presence in the South African financial market. The acquisition, expected to be completed in the second half of 2025, involves purchasing Bidvest Bank, a profitable financial institution established in 2000.…
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Nigeria Issues N1.1 Trillion Sovereign Sukuk to Finance 124 Road Projects
The Nigerian Securities and Exchange Commission (SEC) has announced that the federal government has issued six Sovereign Sukuk bonds totaling N1.1 trillion ($657.6 million) to finance 124 federal road projects across the country’s six geopolitical zones. Speaking at the second International Islamic Capital Market Conference in Karachi, Pakistan, SEC Director-General Emomotimi Agama highlighted the significant…
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German President Praises Nigeria’s Economic Reforms, Pledges Support
In a significant diplomatic meeting at the Presidential Villa in Abuja, German President Frank-Walter Steinmeier offered strong words of encouragement to Nigeria, highlighting the country’s ongoing economic reforms and expressing Germany’s full support during challenging times. Drawing from Germany’s own historical economic struggles, Steinmeier emphasized the critical role of courage and perseverance in national economic…
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Trump, Shallipopi, Bobrisky Top Google’s 2024 Nigeria Year in Search Trends
Google has released its annual “Year in Search” report for Nigeria, revealing the most searched and trending topics of 2024. Bobrisky and Beta Edu led the national personality search, while Donald Trump dominated global searches. Notable searches also included personalities like Junior Pope and Herbert Wigwe. Entertainment tops the trend with movies like ‘A Tribe…
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Nigeria, Saudi Arabia Open Talks on Iron Ore and Steel Partnership
Nigeria and Saudi Arabia have established partnership to extract and process iron ore, heralding a step towards Nigeria’s industrial development. The agreement emerged from high-level discussions between Dele Alake, minister of solid minerals development, and Khalid Al-Musdaifer, Saudi Arabia’s deputy minister of minerals and energy. In line with President Bola Tinubu’s Renewed Hope agenda, the…
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Netflix Exits Nigerian Content Production, Deals Blow to Nollywood
Netflix has quietly cancelled its Nigerian Originals program, effectively exiting the Nigerian content market in November 2024. The streaming platform reportedly informed frequent collaborators about the withdrawal without providing an official public statement. Speculation suggests the decision stems from Nigeria’s challenging economic climate, including volatile exchange rates, high inflation, and increasing business costs for international…
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South Africa Announces 5-Year Multiple Entry Visa for Nigerians
South African President Cyril Ramaphosa has announced a new visa policy for Nigerian entrepreneurs and tourists, allowing qualifying Nigerian business people to obtain a five-year multiple entry visa without submitting a passport. “Our efforts to create a favourable environment include our simplified visa process for Nigerian business people to travel to South Africa,” said Bayo…
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Nigeria Seeks South Africa’s Backing for G20 and BRICS Membership
Nigeria has initiated a strategic diplomatic effort to secure full membership in the G20 and BRICS, targeting South Africa’s support in expanding its global economic influence. Presidential spokesperson Bayo Onanuga disclosed this while highlighting the potential to join a group that currently represents approximately 37 percent of the world’s gross domestic product. The diplomatic overture…