Category Archives: Nigeria News

Nigeria News

Business Pivotal to Addressing Structural Inefficiencies in the Continent

Currently intra-Africa trade stands at a mere 12% compared with about 40% in North America and about 60% in Western Europe

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Africa’s oil and gas industry set to meet at the 16th Africa Independents Forum in May

The 16th Africa Independents Forum, a key event on the international oil and gas calendar, will get underway in London on the 24th and 25th of May.

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South Africa to strengthen investment relation with Ghana and Nigeria.

South Africa will be strengthening its investment relation with Ghana and Nigeria as the country’s department of trade and industry recognizes Ghana and Nigeria as strategic partners within the West Africa region. In this regards, the dti will send a business delegation on a Trade and Investment Mission to Accra, Ghana and Lagos, Nigeria from 20-25 March 2017 with the objective to identify and create export markets for South African value-added products and services while creating business partnerships between business communities of the respective countries. Sectors to be focused on by the mission includes Agro- Processing; Electro-technical; Infrastructure, Mining and Capital Equipment.

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VDMA to hold 2017 agrofood & plastprintpack in Nigeria

From the 28 to 30 March, 2017, Fairtrade will be holding the 2017 agrofood & plastprintpack in Nigeria. “This year more than one hundred exhibitors from 19 countries are represented, making it a record participation”, says Leonie Ganser, project manager at fairtrade. “It is the first ever exhibition filling both halls of the Lagos Landmark Centre.”

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Aiteo will be Nigeria’s Largest Oil and Gas Company

Following Aieto’s acquisition of sub-Sharan Africa’s reputedly largest onshore oil bloc OML 29 barely a year ago, Aiteo has announced a peak production of 90kpod during the just ended 16th Oil and Gas (NOG) Conference held in the country’s capital Abuja. In 2015, Aiteo acquired OML 29 when Shell Petroleum Development Company fully exited the facility at an average production was 23Kbpod. According to the company, it has tripled this figure leveraging the diversity and skills of its work force and bona fides as a dynamic international energy conglomerate. Vice Chairman Benedict Peters mentioned that the company grew production from 23kbbl/d upon takeover of operations to a peak of 90Kbbl/d in one year. He also highlighted several existing and developing projects that could potentially grow Aiteo’s asset production to over 150 kbopd and 200mmscf/d. He said: “Our outlook is bright with 3 producing oil fields and viable crude exports via Bonny terminal. We also have contingent resources to appraise and prospective ones to explore in the medium-to-long term, including full 3D coverage and 2P NNS reserves at 1.6bn bbl. Put simply, we have a clear vision for the future with the experience and assets crucial to providing oil and gas consistently on a regional and global scale.”

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Dangote Salt, NAFDAC Collaborate To Sanitize Food Market

The management of Dangote Salt (www.Dangote.com) and the National Agency for Food and Drugs Administration and Control (NAFDAC) (www.NAFDAC.gov.ng) have expressed their readiness to collaborate and corroborate efforts to rid the food market of unwholesome practices by unscrupulous traders.

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Lagos To Host Thousands Of Industry Professionals At The Multimodal West Africa Expo In Lagos In March

The city of Lagos will witness a huge invasion of Logistics and Transport professionals this month with the historic maiden edition of Multimodal West Africa 2017 (MMWA) exhibition and conference, which will take place from 14-16 March at the Landmark Event Centre on Victoria Island.

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GE Lagos Garage to Train 25 entrepreneurs from Tony Elumelu Foundation

Lagos Garage, a hub for advanced manufacturing-based innovation, strategy development, idea generation and collaboration will be accepting 25 Tony Elumelu EF Entrepreneurs every year to participate in a dedicated 4-week advanced manufacturing training program.

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African Challenges to African Development

The parlous story of African economic and social development since independence best expressed in the failure to achieve the autonomous capacity for self-actuated development and in particular to create conditions of national and continental modern mass production and prosperity is well known and need not be repeated.

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Recession: Nigerian businesses can remain profitable with outsourced Data Center and Cloud solutions

For companies in Nigeria currently battling the recession, the challenges are slowing sales and reduced earnings due to spiraling costs from high inflation and forex rates. To manage cash flows, businesses may have had to reduce or halt spending totally.

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