The Federal Government has allocated in excess of $75 million for the advancement of Compressed Natural Gas (CNG) infrastructure to foster cleaner and more sustainable energy across the nation. The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, made the announcement at the 18th OTL Africa Downstream Energy Week in Lagos. The theme…
Nigeria based fintech Moniepoint has raised $110 million in new funding from investors including Google to scale up digital payments and banking solutions across Africa, the company has said. Sources close to the transaction said the new funding valued Moniepoint above $1 billion, giving it “unicorn” status – a term for privately-owned business valued at…
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has put the country’s daily petrol consumption at between 45 million litres to 50 million litres. Its Chief Executive Officer, Mr Farouk Ahmed, disclosed this while speaking on the sideline of the ongoing 18th Africa Downstream Energy Week in Lagos. The 2024 OTL Africa Downstream Energy…
The just concluded verification of the National Identification Numbers (NINs) linked with Subscriber Identity Modules (SIMs) has led to a significant drop in the subscriptions database of all mobile network operators in the country as MTN, Airtel, Globacom, and 9mobile yanked off 64.3 million lines. According to the latest data released on Monday by the…
The Federal Ministry of Agriculture and Food Security has unveiled a strategy designed at reshaping the country’s wholesale markets and bolster food distribution network. This was contained in the Strategic Plan for the Development of Modern Wholesale Markets to Feed the Cities and Structure the Food Value Chain, a report that seeks to enhance food…
President Bola Tinubu has unveiled the four-year strategic plan on National Lottery Trust Fund to create opportunities for Nigerians and promote socio-economic development. Unveiling the Fund at the State House Conference Centre, Abuja, Tinubu said the aim is to empower Nigerian communities thereby generating gainful skills for citizens. Represented by the Secretary to the Government…
The African Development Bank (AfDB) has approved $350million loan for the construction of a rail line between Kano-Maradi. Declaring the National Assembly’s position after an oversight tour of the Nigerian Railway Corporation (NRC’s) Lagos-Ibadan standard gauge system, yesterday, the Chairman of the Senate Committee on Land Transport, Senator Adamu Aliero, said the Senate remained committed…
Sixty per cent of businesses in Nigeria are family-owned while half of the figure hardly go beyond the first generation, according to a new report by multinational professional services firm, PwC. Partner and PwC Africa Family Business Lead, Esiri Agbeyi, who presented the report at 2024 Family Business Summit convened by Oghenevwoke Ighure at The…
In its continuous quest to provide solutions that will revolutionise business operations and drive growth, the tech distribution giant, TD Africa has put head together with Dell Technologies and Intel to examine how AI tools and data-driven solutions can be optimized. At an event tagged: “Partner Technology Day” which held at the Wheatbaker Hotel, Ikoyi, industry-leading…
