NIGERIA

IBOM DEEP SEAPORT SEEK FUNDS FOR DEVELOPMENT IN NIGERIA

Posted on by Gambeta News
IBOM DEEP SEAPORT SEEK FUNDS FOR DEVELOPMENT IN NIGERIA

Promoter and the Nigeria government is seeking funds to develop the Ibom Deep Seaport which will drive inclusive economic growth in Nigeria and the West and Central African sub-region. The promoters and the Nigeria government is currently seeking funds for the development of ibom deep seaport which will be located in akwa ibom state in the southern part of Nigeria within a licensed free trade zone. The development which is expected to have a 2,565 hectares Greenfield…

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PROBLEMS FACED BY YOUNG ENGINEERS IN NIGERIA

Posted on by Gambeta News
PROBLEMS FACED BY YOUNG ENGINEERS IN NIGERIA

Young aspiring and even students currently studying engineering in Nigeria go through challenges in the Engineering sector because the country has refuse to constantly check the challenges the student will face after graduation. Below are some of the expected challenges 1. NOT BEING EXPOSED TO PRACTICALS: For a student studying engineering in a university, the practical aspect of his course should cover at least 60 percent of his syllabus while the theoretical aspect should take…

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US$40 BILLION REQUIRED FOR COMPLETION OF LAGOS-IBADAN RAIL PROJECT

Posted on by Gambeta News
US$40 BILLION REQUIRED FOR COMPLETION OF LAGOS-IBADAN RAIL PROJECT

Federal Government needs US$40 billion to complete Lagos-Ibadan rail project. Nigerian Minister of Transportation, Rotimi Amaechi, said the Federal Government will be needing US $40bn to finance the ongoing Lagos-Ibadan railway project. The project have been scheduled to finish this year (2018) and so Government are currently negotiating with the contractors handling the project to raise funds. Rotimi Amaechi said between US $36bn and US $40bn will be needed, and its source is not certain at the moment,…

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DECEMBER 2018: LAGOS-IBADAN SGR WILL BE COMPLETED

Posted on by Gambeta News
DECEMBER 2018: LAGOS-IBADAN SGR WILL BE COMPLETED

December 2018 set as target for completion of Lagos-Ibadan Standard Gauge Rail (SGR) line. The Minister for Transportation, Mr. Rotimi Amaechi during the end of the year news briefing and inspection of Lagos-Ibadan Standard Gauge Rail (SGR) line in Papalanto, Ogun State said, the rail line will be completed in December 2018 and be commissioned in January 2019. During the inspection, The minister said he was impressed with the level of the ongoing construction work achieved despite the…

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LAGOS STATE AND OTHERS URGE CBN TO REDUCE INTEREST RATES

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LAGOS STATE AND OTHERS URGE CBN TO REDUCE INTEREST RATES

Governor Ambode and others call on CBN to reduce lending rate to five(5) percent. While speaking at the 9th annual bankers committee retreat held in Lagos, Lagos state Governor Akinwumi Ambode called on the Central Bank of Nigeria (CBN) to consider reducing the interest rate for the N220 billion Micro Small and Medium Enterprises (MSMEs) intervention loan to 5 percent. This reduction he said will encourage more off take as the CBN Governor, Godwin Emefiele had earlier on expressed disappointment…

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RESIDENT TO PAY FOR INFRASTRUCTURE IN ABUJA, NIGERIA

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RESIDENT TO PAY FOR INFRASTRUCTURE IN ABUJA, NIGERIA

Nigeria’s FCT resident to pay for infrastructure after minister of FCT declare government can no longer continue funding it. The infrastructural development in the country capital in abuja, Nigeria is expected to stop after the Minister of Federal Capital Territory (FCT) Malam Bello Muhammad said that residents of the territory may have to pay for infrastructure as government could no longer continue to fund it. An inspection tour of ongoing road projects in FCT  was…

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NIGERIA TO PRODUCE MORE RICE BY 2018

Posted on by Gambeta News
NIGERIA TO PRODUCE MORE RICE BY 2018

Nigeria making plans to be self-sufficient in Rice production by 2018. Aiming at achieving self-sufficiency in rice production, the Nigeria government have set up certain strategies of which one is increasing the production capacity of the country to 7 million tonnes by 2018. This report was received during a media briefing in Abuja by the Minister of Information and Culture, Lai Mohammed. During the briefing, Mr. Lai said that as at 2015, rice demand in…

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NNPC SIGNS US$1.7bn DEAL WITH CHEVRON TO INCREASE CRUDE PRODUCTION

Posted on by Gambeta News
NNPC SIGNS US$1.7bn DEAL WITH CHEVRON TO INCREASE CRUDE PRODUCTION

NNPC and Chevron sign agreement aimed at boosting reserves and production of crude in Nigeria. The Nigerian National Petroleum Corporation ( NNPC ) and Chevron Nigeria Limited (CNL) have finalized an Alternative Financing Agreement to increase crude production by about 39,000 barrels per day. This report is according to a statement issued by the NNPC Group Managing Director, Dr Maikanti Baru. The agreement which was signed in London, is expected to achieve an incremental peak…

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NIGERIA GOVERNMENT PLANS TO GENERATE 14,000MW HYDROPOWER

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NIGERIA GOVERNMENT PLANS TO GENERATE 14,000MW HYDROPOWER

Nigeria government plans to increase its hydropower capacity from 12,000mw to 14,000mw. The project which was investigated by both the Energy Commission of Nigeria (ECN) and Transmission Company of Nigeria (TCN) has found out that the country can generated 14,000mw of hydropower. According to the investigation which shows that it will comprises of large, medium and small scheme hydropower across the country. The country currently generates a bulk of its electricity from thermal plants and…

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GOMBE-BIU ROAD CONSTRUCTION APPROVED BY FEC

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GOMBE-BIU ROAD CONSTRUCTION APPROVED BY FEC

FEC approves Gombe-Biu federal highway construction after Ministry of Power, Works and Housing submitted a memo. During the last Nigeria’s Federal Executive Council meeting, a memo which was submitted by Ministry of Power, Works and Housing, Babatunde Fashola was approved by the federal Executive Council (FEC) for the construction of Gombe-Biu federal highway. The road project which will cost N27.233 billion is a 117-kilometre road that has already had 9kilomtre constructed by the Gombe state government but…

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80% OF ABUJA AIRPORT TERMINAL COMPLETED

Posted on by Gambeta News
80% OF ABUJA AIRPORT TERMINAL COMPLETED

The new Abuja Airport terminal reaches 80% completion. According to the Nigerian state officials; the ongoing construction on the new US $200m terminal for the  Nnamdi Azikiwe International Airport – Abuja which is been handled by China Civil Engineering Construction Corporation (CCECC) in partnership with the Nigerian government is about 80% complete. The airport is slated to be opened in January 2018; and have already received an Aerodrome certification from the Federal Airport Authority of Nigeria (FAAN) and the…

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LAFARGE AFRICA TO MERGE WITH UNICEM AND ATLAS CEMENT

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LAFARGE AFRICA TO MERGE WITH UNICEM AND ATLAS CEMENT

Lafarge Africa Board of Directors approves merger with Unicem and Atlas. After a court ordered meeting in Lagos, The Board of Directors of Lafarge Africa Plc have approved the merger with United Cement Company of Nigeria Limited (Unicem), and Atlas Cement Company Limited (Atlas). The merger is aimed at streamlining the operations and reducing the operating costs of Unicem and Atlas through consolidation of the cement manufacturing and marketing businesses for  better management and efficiency. The Chairman of…

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FRASER SUITES OPENS IN NIGERIA

Posted on by Gambeta News
FRASER SUITES OPENS IN NIGERIA

Frasers Hospitality opens Fraser Suites in Abuja, Nigeria. A Singapore based apartment service provider, Frasers Hospitality, have announced its move into Africa with the opening of Fraser suites in Nigeria’s capital, Abuja. The suite which offers 126 apartment residences comprises of studios to four bedroom penthouses with amazing views of the city landscape. The CEO of Frasers Hospitality for Europe, Middle East & Africa, Mr. Guus Bakker, said this first move into Africa, is an exciting stage in the…

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CONSTRUCTION OF LAGOS-IBADAN RAIL LINE TO START IN DECEMBER

Posted on by Gambeta News
CONSTRUCTION OF LAGOS-IBADAN RAIL LINE TO START IN DECEMBER

Lagos-Ibadan rail line construction to begin in December 2017. The Minister of Transportation, Rotimi Amaechi, disclosed that the laying of tracks for the Lagos-Ibadan rail line will be kick started in December 2017. Parts of the rail line will be arriving Nigeria by the end of November. According to the Minister; due to the construction of the rail line, there will be demolition of some existing assets like water pipes, gas pipes, houses, electric cables,…

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AFREXIM BANK CONFIRMS NIGERIA HEALTHCARE INVESTMENT PLANS

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AFREXIM BANK CONFIRMS NIGERIA HEALTHCARE INVESTMENT PLANS

A‎frican Export-Import Bank (AFREXIMbank) confirms plans to invest over US$16 billion in Nigeria’s Healthcare Sector At a press briefing at Abuja, the President and Chairman of the Board of Directors of AFREXIM Bank, Dr. Benedict Oramah, disclosed that the bank are planning to invest over US$16 billion in Nigeria’s healthcare sector. He said the bank came to this investment decision because of its long term plans to deepen its portfolio in the country, by building an ultra modern…

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PRESIDENT BUHARI PRESENT 2018 BUDGET TO PARLIAMENT

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PRESIDENT BUHARI PRESENT 2018 BUDGET TO PARLIAMENT

Nigeria’s President present 2018 budget to joint session of parliament which has an increase from N7.44 trillion in 2017 to N8.6 trillion. The president of Nigeria, Muhammadu Buhari has presented the 2018 budget to the joint session of the National Assembly so as to avoid the delays that have plagued previous budgets, not passed until well into the years they targeted. The budget which had an increase from N7.44 trillion to now N8.6 trillion is tagged “the budget of consolidation” and it is…

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SEAPORT DEVELOPMENT IN PROGRESS AT GELEGELE

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SEAPORT DEVELOPMENT IN PROGRESS AT GELEGELE

Edo state’s Gelegele seaport development in progress, that will serve as an export processing zone. The seaport development which is located in Gelegele in Edo state of Nigeria is in progress as there is sufficient economic justification for its development. The seaport is expected to serve as an export processing zone, given that consultation is ongoing with the appropriate agencies and will be located where there is enough gas that can be used to generate electricity and power…

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NEW BIOFUEL PLANT IN SOUTH WEST NIGERIA TO GENERATE 1m JOBS

Posted on by Gambeta News
NEW BIOFUEL PLANT IN SOUTH WEST NIGERIA TO GENERATE 1m JOBS

NNPC project in Ondo state to create 1 million jobs. A memorandum of Understanding between the Nigerian National Petroleum Corporation (NNPC) and the Ondo state government has just been recently signed. The MoU is to establish a 65,000 million litres bio-fuel plant in Okeluse, Ondo State. The Group Managing Director of NNPC, Dr. Maikanti Baru, explained that the project will be a collaboration between NNPC and some investors who will bring  Foreign Direct Investment into the…

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BUILDING COLLAPSE IN EBUTE META, LAGOS

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BUILDING COLLAPSE IN EBUTE META, LAGOS

No casualty was record as a four-storey building collapse in Ebute meta, Lagos Mainland. The building which is a four-storey was under construction along Herbert Macaulay way Ebute-Metta, Lagos Mainland before it collapse. The state was rocked by the collapse of a four-storey building just some months ago which resulted in the dead of six individuals as from the report we got and it is a miracle that nobody was around the area when this event unfold….

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SOLAR ENERGY TO HELP ENHANCE RURAL ELECTRIFICATION IN NIGERIA

Posted on by Gambeta News
SOLAR ENERGY TO HELP ENHANCE RURAL ELECTRIFICATION IN NIGERIA

Sokoto government to use solar power for rural electrification. At a News conference in Sokoto , the special adviser to Governor Aminu Tambuwal on Public Private Partnership (PPP), Alhaji Bashir Gidado, disclosed that the state government have started the process of connecting rural households to solar power. This move is aimed at increasing energy usage and enhancing rural electrification in the region. The project, with its pilot scheme already in progress in Kurdula, a rural settlement in Balle town…

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