investment

You Failed Woefully In Oil And Gas - El-Rufai Lambasts FG

You Failed Woefully In Oil And Gas – El-Rufai Lambasts FG

October 14, 2022 6:14 am

Kaduna State Governor, Nasir El-Rufai has criticised the Federal Government of Nigeira accusing them of failing in the oil and gas sector, and should immediately hands off control of the sector.

Speaking at KADINVEST, an economic summit in Kaduna, yesterday, he stated that government does not have any business managing the oil sector.

‘Any sector that the Federal Government tries to get into gets messed up. Any area that the government can get out of it should.’

He added that the Federal Government has no business in oil and gas and should privatise the oil and gas sector.

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Foreign Investment: Forget Sokoto, Target ‘Shokoto’

January 27, 2020 8:06 am

“We shall not cease from exploration, and the end of all our exploring will be to arrive where we started and know the place for the first time” – T. S. Eliot (1888-1965)

There is this popular Lagos saying that people have the tendency of looking for opportunities or valuables in Sokoto when in fact, those opportunities exist in ‘shokoto’ also spelt as Sokoto, but pronounced differently. Sokoto is the Capital of Sokoto State in Nigeria which is understood to be very far from Lagos. It is about 980 kilometers away from Lagos and can take a better part …

Kwara Adopts e-Govt To Drive Growth, Investment

December 30, 2019 11:38 am

The Kwara state government has established an e-Government Delivery Team to drive its efforts to deploy modern technology for government operations and enhance ease of doing business in the state.

That comes a few weeks after Governor AbdulRahman AbdulRazaq said the state would turn the page on the recent 2018 poor ranking of the state in the national ease of doing business index released by the World Bank.

Speaking in Ilorin recently, durng the official introduction of the e-Government team to the newly sworn in cabinet and top echelons of the civil service, Abdulrasaq said that, “The economic challenges that …

The Decline In Foreign Direct Investment

December 4, 2019 6:34 am
Despite the recent World Bank’s rating of Nigeria’s economy as one of the “most improved economies in the world,” especially in the Ease of Doing Business (EoDB) index, Nigeria is reportedly losing Foreign Direct Investment (FDI) inflows. In comparison with investor-friendly peers in Africa, Nigeria is at the bottom rung of foreign investment inflows. According to the latest National Bureau of Statistics (NBS) Capital Importation Report, investment inflows into the country declined from $5.82billion in the second quarter of this year to $5.36billion in the third quarter. 

The report also revealed that the third quarter inflow of $5.36billion represented a …

Anambra: Soludo Sweeps Six LGAs Declared By INEC

Soludo Tasks Nigerians In Diaspora On Investment

November 7, 2019 7:08 am

A former Governor of the Central Bank of Nigeria (CBN) and member, of the National Economic Advisory Team (NEAT), Prof. Chukwuma Soludo, has told Nigerians in the Diaspora that it is in their interest to contribute to the prosperity of their country.

He argued that it is wrong to regard investment in the homeland by Nigerians abroad as an act of charity.

In his keynote address yesterday at the second Nigeria Diaspora Investment Summit at the Presidential Villa, Abuja, Soludo said racism and xenophobic attacks abroad had made it imperative for Nigerians in the Diaspora to have a prosperous country …

NIG Holds Investment Exhibition

NIG Holds Investment Exhibition

November 5, 2019 8:19 am

In line with plans to boost local production and foreign direct investments, the Nigeria Investment Gateway (NIG), a company registered both in the United Kingdom and Nigeria is set to host the 2019 edition of the ‘Best of Nigeria Investment Exhibition tagged BONIE2019.

NIG, while inviting various companies and agencies to the event, said the exhibition will focus on a wide range of investment opportunities and high-level engagement meetings among investors, policy-makers and entrepreneurs.

Proudly supported by the British International Institute for Leadership and Management (BIILM) BONIE2019 will bring together potential business  oriented speakers to advise participants on how to …

Tambuwal Pledges Sustained Investment In Education Sector

Tambuwal Pledges Sustained Investment In Education Sector

October 24, 2019 3:03 pm

The Sokoto State Governor Aminu Waziri Tambuwal on Thursday said his administration will sustain its investment in the education sector.

He made the pledge at the 14th Annual Retreat and 67th Business Meeting of the Association of Registrars of Nigerian Universities (ARNU) held at the Sokoto State University (SSU).

Tambuwal said that his administration since inception in 2015 accorded top priority to education, adding that education is key to societal development.

“Since we came in 2015, I declared a state of emergency in the education sector. Not only that, we followed it up with policies and programmes that would help …

Nigeria Needs More Private Sector Investment - Atiku

Nigeria Needs More Private Sector Investment – Atiku

October 21, 2019 10:56 am

Mr. Olusegun Adeyemi-Showunmi, who is the spokesperson of the presidential candidate of the Peoples Democratic Party (PDP) in the 2019 elections, Alhaji Atiku Abubakar, has stressed the need for the federal government to focus more on attracting private capital.

Speaking in an interview on the sidelines of the just-concluded International Monetary Fund/World Bank Annual Meetings in Washington DC, Adeyemi-Showunmi, who is also the Managing Director of Right Dev, expressed dismay over the federal government’s aggressive tax drive, saying it was focused on impoverishing Nigerians.

He said his participation at the meetings was to see precisely where the world was going …

AfDB Advocates Unlocking Of $1.8tn AUM For Investment

AfDB Advocates Unlocking Of $1.8tn AUM For Investment

October 21, 2019 2:58 am

The President of the Africa Development Bank (AfDB), Dr. Akinwunmi Adesina, has stressed the need to mobilise mutual funds and other Assets Under Management (AUM) in the continent put at $1.8 trillion, to drive Africa’s development.

He also said commercial banks who desire to get credit lines from the AfDB would have to increase lending to women-focused businesses, saying the bank was set to launch a rating for women-focused lending.

Adeshina said this in an interview on the sidelines of the just-concluded 2019 Annual Meetings of the World Bank and International Monetary Fund in Washington DC over the weekend.…

Peter Obi Calls For Massive Investment In Nigerian Youths

Peter Obi Calls For Massive Investment In Nigerian Youths

October 15, 2019 7:12 am

A former Anambra State governor and vice presidential candidate of Peoples Democratic Party (PDP), Mr. Peter Obi, yesterday stressed the need for Nigeria to invest in her human capital as it is being done in developed countries, noting that this would go a long way in improving the leadership qualities in the country.

Obi, who featured on Arise TV, expressed concern that the country seemed to be jostling between productivity and certificates, saying rather than calling the Nigerian youths lazy, we should invest in them.

According to him, “Those youths we are calling lazy are our assets. The founder of …

FG Records Over $9.29bn Investment Inflow In Third Quarter

FG Records Over $9.29bn Investment Inflow In Third Quarter

October 15, 2019 6:32 am

Over $9.29 billion worth investments came into the nation’s economy in the third quarter (Q3) of 2019, according to the Nigerian Investment Promotion Commission (NIPC’s) July to September 2019, Newsletter.

Broken down, NIPC said a total of 13 projects across four states and offshore Nigeria were announced by investors from four countries.

The investments, however, fall short by a whopping $63.79billion year-on-year to Q3 2018, which recorded about $73.08 billion inflows into the country.

Specifically, some of the investments included the Aiteo Eastern Exploration and Production Company over $5 billion in crude exploration; and Sterling Oil Exploration and Energy Production …

Nigeria, others, to attract $103b gas investment in 2019

Nigeria, others, to attract $103b gas investment in 2019

August 22, 2019 9:51 pm

Nigeria, Egypt, South Africa, Mozambique, Senegal, and Mauritania have been identified as African countries that will spur investment in Liquefied Natural Gas (LNG) on the continent to about $103 billion this year.

Holding about 7.1 per cent of proven global gas reserves, a report yesterday, from the 5th Gas Summit in Malabo, Equatorial Guinea, said the continent will contribute nearly 10 per cent of global LNG production growth through to 2024.

It added that on the demand side, Africa’s large, urbanised and industrialised societies of the future would require reliable and sustainable power generation.Citing greenfield investments in Nigeria, Egypt, Mozambique, …

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