Business Tips

Nigeria Woos American Investors, Targets $25b FDI

Officials of the Nigerian Government have assured U.S. investors of the favourable investment climate, promising the highest returns on investments, more than anywhere else in the world.

The Minister of Trade, Industry and Investment Okechukwu Enelamah and his Foreign Affairs counterpart Geoffrey Onyeama, stated this at the Nigeria-U.S. Business and Investment Forum in New York.

Yewande Sadiku, the executive secretary of the Nigerian Investment Promotion Council said $25billion in Foreign Direct Investment is the target of the country in 2020.

PPP: Government Expects $80b as Direct Private Investment

The Federal Government says it is expecting over 80 billion dollars as direct private investment in infrastructure between 2014 and 2018.

The Permanent Secretary, Ministry of Budget and National Planning, Mr Aliboh Lawrence, said this on Thursday in Abuja at the Public-Private Dialogue on Infrastructure Financing in Nigeria.

Reports say the dialogue was organised by the ministry in collaboration with the Nigeria Infrastructure Public Private Partnership Summit Group (NIPPPSG).

Buhari hosts Ugandan President, Leaves for New York Sunday

Nigeria’s President Muhammadu Buhari on Friday met behind closed with the visiting Ugandan President Yoweri Museveni, in the Presidential Villa, Abuja.

The Ugandan President was received on arrival by President Buhari at the Aso Rock villa, Abuja, at about 2.25p.m.

The Ugandan president is on a “friendly visit’’ to Nigeria.

It would be recalled that the Ugandan president has been showing interest and concern over the activities of the deadly Boko Haram sect operating in Nigeria over five years ago.

GEFF 2017 Day 2: Forum Captures Critical Insights from Ethical Finance Leaders

Building on the proceedings of Day 1 that witnessed over 300 key leaders converge with the aim of fostering industry-wide collaboration and mainstreaming ethical finance, the second and final day of the 2nd Global Ethical Finance Forum convened by Middle East Global Advisors in strategic partnership with the Islamic Finance Council UK (UKIFC) witnessed further insights critical for the industry going forward. The Forum was held under the patronage of the Scottish Government, supported by the UK Government and hosted by the Royal Bank of Scotland (RBS) at its Headquarters in Edinburgh.

Dangote joins race for South African cement firm

Africa’s richest man Aliko Dangote has joined the race to buy South African cement maker PPC, which is already the subject of a takeover bid valuing the company at $700 million.

Dangote Cement, which is controlled by Dangote and is the biggest cement maker in Africa with a capacity of nearly 46 million tonnes a year, said in a statement that it was interested in buying all of PPC’s shares, Reuters reports.

GEFF 2017 Day 1: Keynote Speeches by Lord Provost of Edinburgh & Scottish Cabinet Minister

Audience of over 300 key ethical finance leaders gathered from various markets –comprising the Middle East, Africa, East Asia & Europe –witnessed path-breaking insights unfold at the 2nd edition of the Global Ethical Finance Forum (GEFF).

Convened by Middle East Global Advisors in strategic partnership with the Islamic Finance Council UK (UKIFC), the Forum was held under the patronage of the Scottish Government, supported by the UK Government and hosted by the Royal Bank of Scotland (RBS) at its Headquarters in Edinburgh.

Nigeria and UN set date for World Tourism

Nigeria and the United Nation World Tourism Organisation have agreed on the hosting date for the 61st UNWTO CAF meeting.

Addressing the 60th UNWTO CAF Meeting in Chengdu, China, on Tuesday, Nigerian Minister of Information and Culture, Lai Mohammed, announced that the 61st edition of the meeting would be held in Abuja from June 4-6, 2018.

The Minister reaffirmed Nigeria’s commitment to host the African Tourism Ministers, according to VON report.

Buhari hosts Ghanaian President

President Muhammadu Buhari on Tuesday met behind closed doors with Ghanaian President, Nana Akufo-Addo, at the Presidential Villa, Abuja.

The News Agency of Nigeria reports that the Ghanaian President, who is on an official visit to Nigeria, arrived the Presidential Villa at about 3.28p.m.

The closed door meeting was holding at the new Banquet Hall in the State House as at the time of filing this report.

Nigeria’s Domestic Debt Hits ₦19.63tr, Says DMO

Nigeria’s public debt stock for both the Federal Government and the states as at June 30 stood at N19.63 trillion, the Debt Management Office (DMO) said.

The DMO, according to  a report on its website said the external debt stock of both the state and Federal governments  was N4.6 trillion,  while the domestic debt stock of the Federal Government was N12 trillion.

It said the domestic debt of states stood at N3 trillion.

Red Cross Links Investors to War Zones with first 'Humanitarian Bond'

A new funding model launched by the Red Cross aims to attract private capital to conflict zones to help some of the world’s neediest people, while giving investors a return on their money.

The “Humanitarian Impact Bond” set up by the International Committee of the Red Cross’ (ICRC) with a value of 26 million Swiss francs ($27.5 million), has attracted capital from New Re, part of global reinsurer Munich Re Group, among other investors.