President Bola Tinubu is determined to steer Nigeria through economic headwinds, emphasising his unwavering commitment to reforms and investments that support businesses and create opportunities for the growing population. “We are right in the middle of a challenging stage of our reforms. We have headwinds, no doubt, but we are not going back,” he declared Read More…
Tag: investment
Coronation Group reinforces commitment to polo sport development in Nigeria
Coronation Group Ltd, the proud title sponsor of the 2024 Lagos Polo Tournament Silver Cup, reaffirmed its dedication to fostering the growth of polo in Nigeria during the finals of the prestigious tournament held at the Lagos Polo Club, Ikoyi. Wole Onasanya, the Chief Executive of Coronation Group, underscored the company’s unwavering support for the Read More…
Nigeria’s financial sector navigates global debt surge, balancing risks
As Nigeria grapples with its debt dynamics, expert voices weigh in on the delicate equilibrium between issuance and investor sentiment. Thys Louw, seasoned portfolio manager at Ninety One, highlights the central concern: the divergence between debt issuance and inflows into dedicated funds. For high-yield issuers, this divergence poses a significant challenge. In a Reuters report, Read More…
Shell’s exit sparks hope for Nigerian oil sector amid risks, analysts say
Shell’s recent departure from Nigeria’s onshore oil sector is seen as a pivotal moment, raising optimism among local firms to rejuvenate production in Africa’s largest oil exporter. Industry insiders and analysts emphasise the challenges faced by oil majors in the region but foresee opportunities for indigenous companies to reverse the output decline in the Niger Read More…
Nigeria aims for substantial oil production surge by 2026
Nigeria’s upstream oil regulator unveiled a bold target of achieving a daily production of 2.6 million barrels of oil and condensates by 2026, marking a significant leap from the 1.6 million bpd output recorded in 2023. The country, a key oil exporter in Africa, has grappled with reduced production levels attributed to crude theft, pipeline Read More…
Billionaire Jim Ratcliffe secures 25% stake in Manchester United, pledges revival with $300m investment
British billionaire Jim Ratcliffe finalised a momentous deal on Sunday, acquiring a long-awaited 25% stake in Manchester United and committing to inject $300 million into the Premier League club to reignite its fortunes. The agreement, marking Ratcliffe’s INEOS group taking charge of the club’s soccer operations, concludes a period of uncertainty following the Glazer family’s Read More…
Nigeria launches Long-Term Low Emission Development Strategy (LT-LEDS) at COP28
Nigeria reached a significant milestone in its sustainability drive, unveiling the Long-Term Low Emission Development Strategy (LT-LEDS) during the ongoing COP28 in Dubai. The event, held at the esteemed African Pavilion in the Blue Zone, witnessed dignitaries and global delegates marking this groundbreaking launch. Professor Chukwumerije Okereke, Director of the Centre for Climate Change and Read More…
Lagos State Government proposes electricity cooperative model as an energy sector solution
The Lagos State Government has highlighted its newly introduced electricity cooperative model as a potential remedy for the country’s struggling energy sector, specifically within the state. Mrs. Folashade Ambrose-Medebem, the Commissioner for Commerce, Cooperatives, Trade & Investment, addressed this pivotal initiative during a one-day inaugural symposium held in Lagos. The symposium, themed “Venturing into Power Read More…
Nigerian-German economic ties strengthened by $500 million renewable energy pact and gas export deal
In Berlin, Nigerian and German firms have solidified their economic partnership by signing two significant agreements, announced a presidential spokesperson. The deals encompass a substantial $500 million renewable energy pact and a gas export arrangement, marking a pivotal step in bolstering ties between the nations. Union Bank of Nigeria and Germany’s DWS Group sealed a Read More…
OpenAI shakeup: Altman sets sights on new AI venture; departures rattle company
Sam Altman, ousted CEO of OpenAI, is steering towards a new artificial intelligence (AI) venture following his dismissal, sources familiar with the plan disclosed on Saturday. The departure of Altman has sent ripples across the tech industry, leaving numerous questions about the future of the company. Former OpenAI president Greg Brockman, who exited the company Read More…