Business Archives - Page 2 of 25 -

Catching the Train of Opportunity: Nigeria’s Railway Development Initiative

Nathaniel Chinemerem Chinemerem1 month ago03 mins

The Minister of Transportation, Senator Said Ahmed Alkali, has extended an invitation to Chinese and other foreign investors to contribute to Nigeria’s railway infrastructure development. During his address at the 16th International Infrastructure Investment and Construction Forum (IIICF) in Macao, China, the Minister highlighted various investment avenues, including power supply schemes, integrated security solutions, and…

Business

NCAA Launches Propel Initiative to Tackle Travel Disruptions

Nathaniel Chinemerem Chinemerem1 month ago02 mins

In a significant move, the Nigeria Civil Aviation Authority (NCAA) has sanctioned a new, passenger-oriented solution crafted by a consortium to alleviate travel issues, particularly those linked to operational and weather-related disruptions. The “Propel Reprotection System” is an innovative technological platform designed to assist Nigerian airlines in re-protecting passengers during flight disruptions. This system enables…

Amazon Unveils $20 Billion Pennsylvania Data Centre Investment To Power AI, Cloud Expansion

Nathaniel Chinemerem Chinemerem1 month ago1 month ago03 mins

Amazon has announced plans to invest a minimum of $20 billion in Pennsylvania to bolster its data centre infrastructure, reinforcing the company’s commitment to artificial intelligence development and cloud computing expansion. The move highlights Big Tech’s growing dedication to substantial capital investments in generative AI, as leading global firms continue to compete in delivering the…

FG Moves To Deepen Lekki Channel Beyond 16.5 Meters

Kingsley Chukwu2 months ago05 mins

The Federal Government has approved maintenance dredging of the $1.5 billion Lekki Deep Seaport channel from 16.5 metres to 17 metres, targeting 19 metres eventually. Managing Director of Nigerian Ports Authority (NPA), Abubakar Dantsoho, disclosed this in a statement on Sunday by Mr Okechukwu Onyemekara, General Manager, Communication and Strategy, after a weekend visit. Dantsoho…

Naira Shows Steady Gains Against the Dollar

Nathaniel Chinemerem Chinemerem2 months ago01 mins

The naira has demonstrated a consistent appreciation against the dollar throughout the week, closing on Friday at ₦1,580.44 in the official foreign exchange market. According to data from the Central Bank of Nigeria’s website, the naira strengthened by ₦4.51 against the dollar on Friday, reflecting a 0.28 per cent increase from Thursday’s closing rate of…

AU-EU Foreign Affairs Ministers Meet In Brussels

Kingsley Chukwu2 months ago03 mins

The Ministers of Foreign Affairs of Member States of the European Union (EU) and the African Union (AU) are set for the 3rd AU-EU ministerial meeting in Brussels, Belgium. This is contained in a statement issued on Wednesday by Mrs Wynne Musabayana, Head of Communication of the African Union Commission (AUC). She said the meeting…

Sanwo-Olu Charges Auditors-general On Accountability, Transparency, Accountability

Kingsley Chukwu2 months ago04 mins

A collective effort to share knowledge on best practices, harmonise audit standards and invest in capacity building will boost Nigeria’s ability to detect inefficiencies and foster a culture of transparency in governance. Gov. Babajide Sanwo-Olu of Lagos State made the assertion on Wednesday in Lagos. Sanwo-Olu spoke at the 54th Bi-Annual Conference of the Body…

Nigeria Among Africa’s Top Investment Destinations – Speaker

Kingsley Chukwu2 months ago04 mins

Speaker of the House of Representatives, Mr Abbas Tajudeen, has described Nigeria as one of the most attractive and lucrative investment frontiers in Africa. Abbas made this known on Wednesday in Abuja at the maiden edition of the Nigeria-Italy Investment Summit 2025 (NIIS 2025), themed “Building Bridges: Unlocking Opportunities.” The summit, organised by Giant Gee…

U.S. Shifting To ‘Investment-led’ Strategy In Africa: Senior Official

Kingsley Chukwu2 months ago02 mins

U.S. trade with Africa ‘will be much more focused around a reciprocal relationship, one that addresses the needs on both sides,’ says ambassador Troy Fitrell. Ambassador Troy Fitrell, senior official at the U.S. State Department’s Bureau of African Affairs, said that Washington is “very directly, very intentionally” shifting toward an “investment-led” strategy in Africa. “The…

Reps Moves To Rejuvenate Nigeria’s Textile Industry

Kingsley Chukwu2 months ago04 mins

The House of Representatives has urged the Federal Government to ban importation of foreign textiles as a way of rejuvenating the production of local textile materials in the country. This was sequel to the adoption of a motion by Rep. Garba Muhammad (NNPP-Kano) at the plenary on Tuesday. Moving the motion, Muhammad said that the…