OTHER BUSINESSES

Dangote Group is making a five-year investment of at least $1 billion to grow and process rice in seven Nigerian states, bringing sub-Saharan Africa’s biggest importer of the grain closer to its goal of self-sufficiency. Dangote Rice, a unit of the Lagos-based company, plans to increase cultivation of paddy, or...

The Federal Government has started a N100 billion Family Home Fund – an initiative of the Federal Government’s social housing project that provides inexpensive mortgages to Nigerians who can afford N30, 000 per month, Acting President Yemi Osinbajo, SAN, has said. Prof. Osinbajo who spoke about this at the May...

The 2017 Jumia Travel hospitality report on the African continent has identified terrorism as the biggest bane of the continent’s travel and tourism sector, and countries such as Nigeria, Kenya, Tunisia, Mali, Burkina Faso, Côte d’Ivoire and Egypt are the biggest victims. According to the report which was presented to...

The Nigeria National Petroleum Corporation (NNPC), has been scraped by the Senate. This is following the passage of the controversial Petroleum Industry Governance Bill (PIGB). The Senate had on Thursday passed the PIGB, after its clause by clause consideration. To replace NNPC, the Senate recommended the establishment of three new...

The African Development Bank (AfDB) has proposed new investment strategies in Africa’s agriculture sector, which, if properly implemented, would effectively alter the market structures around the world in favour of the African farmers of major cash crops like tea, coffee and cocoa. AfDB Vice-President for Regional Development, Integration and Business...

The worst disruptions in Nigeria's oil-producing Delta region are over, and production could reach 2.2 million barrels per day (bpd) by the end of June, the chief executive of Nigeria's Oando said on Wednesday. Oando chief Pade Durotoye told the Africa Independents Forum in London the long-closed Forcados oilfield could...

Nigeria's economy stayed in recession in the first quarter and shrank more sharply than thought at the end of last year, data showed on Tuesday, as signs of growth in the oil sector fuelled hopes of an upturn in coming months. The economy shrank by 1.5 percent in 2016 for...

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has promised to resign if Nigeria continues to import fuel by 2019. He stated this in an interview on BBC World Service programme, HardTalk, on Monday. He promised to deliver on the refineries and said he was committed to also delivering...

Olam International, the leading agri-business group operating from seed-to-shelf in 70 countries recently launched the best in class and latest micro extrusion technology fish feed, Aqualis in Warri at the Prestigious Hotel Presidential, Port Harcourt. Aqualis, the first offering from the animal feed investment from Olam International, has a high...

Team Beacon from the Afe Babalola University, Ado-Ekiti will be representing Nigeria at the Middle East and Africa regional finals of Imagine Cup holding in Beirut, Lebanon, this week. This feat was achieved by the students after emerging as the winner of the 2017 edition of Microsoft Imagine Cup national...