Category Archives: Nigeria News

Nigeria News

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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2016: Dangote ends Nigeria’s Cement importation…exports 0.4m metric tons cement to neighboring countries

Following continuous increase in its production capacity, foremost cement manufacturer, Dangote Cement Plc (www.Dangote.com) has finally ended the era of Nigeria’s dependence on importation as the company exported 0.4 million tons of the product to other countries in 2016.

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New for Nigerians: Paycode Cardless Cash Withdrawal Service

I’m excited to announce a new financial service inside BBM for Nigerians: Paycode. This service, from Interswitch Ltd, enables cardless cash withdrawal at ATMs as well as cardless/cashless payments in participating real-world stores. Nigerians can find Paycode on their Discover menu today.

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2Face Idibia Joins Olori for GiveBack Concert to Save Nigerian Orphans

GiveBack Concert

2face Idibia (Tubaba) has decided to team up with Olori Wuraola Zaynab Ogunwusi, Yeyeluwa of Ife for the GiveBack Concert to put smiles on the faces of orphaned children from all over Nigeria.

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CashlessAfrica Champion Awards 2017 to Reward Innovation in the Digital Financial Services Ecosystem in Africa.

digital financial services

Mobile Money Shop in Ghana.

The CashlessAfrica 2017 (www.CashlessAfrica.com) awards are dedicated to acknowledging creativity, commitment and excellence in the digital financial services industry across Africa. The awards honor the best of the breed across all sectors and segments covering financial technology providers, mobile network operators, financial institutions, mobile money providers, card services, financial institutions, application providers, regulators, microfinance organizations and individuals in the ecosystem in Africa and beyond.

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Multimodal West Africa set to prepare Nigeria’s transport and logistics sector for economic growth.

Nigeria’s leading transport and logistics experts will gather for the historic maiden edition of Multimodal West Africa 2017 (MMWA) from Tuesday, 14th to Thursday, 16th March 2017 at the Landmark Event Centre, Victoria Island, Lagos. Most of the industry stakeholders are excited about the Exhibition as they believe it will adequately reposition the Transportation and Logistics sector, which used to be noted for its huge contribution to the nation’s economy but has struggled to retain its position as a result of economic downturn.

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