Wednesday, June 22Inside Business Africa
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Ministry of Niger Delta Affairs (MNDA) to Forge Closer Collaboration with KOI

Ministry of Niger Delta Affairs (MNDA) to Forge Closer Collaboration with KOI

Business
The Overseeing Director in the office of the Permanent Secretary, Ministry of Niger Delta Affairs, Mr. Alfred Abah has expressed the readiness of the Ministry to establish closer collaboration with the Korea International Cooperation Agency (KOICA) to improve the socio-economic development of the Niger Delta region. Mr. Alfred Abah made this pronouncement when the Country Director, KOICA, paid him a courtesy visit recently, in his office in Abuja. Abah explained that the Ministry was created in 2008 as an interventionist agency with the mandate to coordinate all the activities of other development partners, International Oil Companies (IOC) and intergovernmental agencies aimed at fast tracking a seamless development strategy for the region. The Director noted that the core fo...

FSDH Capital leads Shelter Afrique’s successful Debut N46 billion Bond Issuance

Business, Capital Market
FSDH Capital Limited, the investment banking and securities trading subsidiary of FSDH Group, has demonstrated its capital raising credentials by leading the successful financial close of the N46 billion (US$110.7 million) Series 1 Fixed Rate Senior Unsecured Bond Issuance in Nigeria's capital market under the N200 billion (US$481.3 million) bond issuance programme for Shelter Afrique. Shelter Afrique, the pan-African development finance institution exclusively dedicated to providing affordable and adequate housing finance across Africa was established by African governments to address the need for a sustainable housing delivery system and related infrastructure projects in Africa. Its shareholders include 44 African countries, the African Development Bank, the African R...
Shongai Packaging explores inter-African trade, exports plastic pallets to Ghana, Others

Shongai Packaging explores inter-African trade, exports plastic pallets to Ghana, Others

Business, Corporate Stories
Shongai Packaging Industry Limited a subsidiary of Sona Group of Industries, has begun its expansion into inter-African trade by exporting plastic pallets to Ghana and other African countries. This comes on the back of Shongai Packaging's commitment to reduce the environmental impact of packaging production on trees by producing plastic pallets for companies within and outside the country. Special Adviser to Ogun State Governor and Director General of Investment Promotion and facilitation Agency, Mr Olakunle Amoo lauded the innovation of the company at the export ceremony and urged other companies to emulate the export drive of Shongai Packaging Industry Limited. Speaking at the ceremony, Mr. Ajai Massadi, Group Managing Director of Sona Group of Industries stated that the i...
NEWS ENGINEERING NIGERIA LIMITED ENTERS AGREEMENT WITH RURAL ELECTRIFICATION AGENCY (REA)

NEWS ENGINEERING NIGERIA LIMITED ENTERS AGREEMENT WITH RURAL ELECTRIFICATION AGENCY (REA)

Corporate Stories
NEWS Engineering Nigeria Limited has entered into a “Grant Agreement for Performance Base Grant and Output Based Grant for Mini Grid development and Solar Home Systems Components respectively with the Rural Electrification Agency (REA). This will enable NEWS Engineering Nigeria Limited to build, commission, own and operate the mini grids across various states in Nigeria including Sokoto, Abia and Niger States. Managing Director, News Engineering Nigeria Limited, Lady Josephine Nwaeze signing the document These projects are under the auspices of the Nigerian Electrification Project (NEP). Speaking at the Performance Based Grant and Output Based Grant Agreement Signing Event, the MD/CEO of REA, Engr. Ahmad Salihijo Ahmad addressed all in attendance that; “Our objective i...
LASG COLLABORATES WITH FEDERAL AGENCY ON FLOODING, HYDROLOGICAL MAPPING

LASG COLLABORATES WITH FEDERAL AGENCY ON FLOODING, HYDROLOGICAL MAPPING

Breaking News, Uncategorized
The Lagos State Government, in its efforts to combat incessant flooding, has collaborated with the Nigeria Hydrological Services Agency (NIHSA) on baseline data collection and study of flood-prone areas. Commissioner for the Environment and Water Resources, Mr. Tunji Bello, who spoke on Thursday at a stakeholders’ meeting held in Ikeja, said the present administration is committed to using data to improve the lot of residents. He said that the meeting was significant as it addressed the major challenge of the data gap in the water resources sector, reiterating that data remains vital to efficient planning and service delivery. Bello, represented by the Permanent Secretary, Office of Drainage Services, Engr. Lekan Shodeinde, commended NIHSA for the proactive and innovative approac...
UK SLAMS THE HARSHEST AND MOST PUNITIVE SANCTIONS ON RUSSIA

UK SLAMS THE HARSHEST AND MOST PUNITIVE SANCTIONS ON RUSSIA

Breaking News
The UK Prime Minister, Boris Johnson seeks to punish Russia via the “largest and most severe package of economic sanctions that Russia has ever seen” for commanding an invasion of Ukraine. These sanctions include: – An intention to impose asset freeze on all major Russian banks, including immediately against VTB, the second largest bank with assets totalling £154 billion. – Legislation to be introduced and come into force on Tuesday to prohibit the ability of all major Russian companies to raise finance on the UK markets and to ban the Russian state from raising sovereign debt on the UK markets. – Individual sanctions against more than 100 individuals, entities and subsidiaries including Rostec, Russia’s biggest defence company said to employ more than two million people with ...
ELECTORAL ACT AMENDMENT BILL 2022 PASSED INTO LAW

ELECTORAL ACT AMENDMENT BILL 2022 PASSED INTO LAW

Breaking News
Today, President Buhari signed the Electoral Act Amendment Bill 2022 into law.  This happened at the Council Chamber of the Presidential Villa in Abuja this afternoon. Additionally, the Vice President, Professor Yemi Osinbajo; Senate President Ahmed Lawan and Speaker of the House of Representatives, Femi Gbajabiamila witnessed the bill signing. The President stated that he got inputs from relevant ministries, departments and governmental agencies sequel to painstaking bill reviews. He said, “It is gratifying to note that the current Bill comes with a great deal of improvement from the previous Electoral Bill 2021. There are salient and praiseworthy provisions that could positively revolutionize elections in Nigeria through the introduction of new technological innovations. These inn...
Clickatell Secures $91 Million in Series C Funding for US Expansion and Product Acceleration

Clickatell Secures $91 Million in Series C Funding for US Expansion and Product Acceleration

Corporate Stories, Technology
Clickatell investors now include Arrowroot Capital, Kennedy Lewis Investment Management, Sequoia Capital, DAG Ventures, Endeavor Global and Harvest Clickatell, today has secured $91 million in their Series C round. This round was led by Arrowroot Capital, with participation from Kennedy Lewis Investment Management, Endeavor Global and Harvest. Clickatell the CPaaS innovator and Chat Commerce leader, which has delivered double-digit profitable growth for several years, will use the Series C round capital to scale and expand three key areas: (i) Accelerated development and innovation of its Chat Commerce offering, (ii) Expansion of its footprint in the U.S., and (iii) Scaling of sales and marketing efforts on the back of growing demand from leading brands. The new capital will ...
DOMESTIC VACCINE PRODUCTION HELPS NIGERIA BEYOND COVID-19

DOMESTIC VACCINE PRODUCTION HELPS NIGERIA BEYOND COVID-19

Business
The World Health Organization (WHO) on Friday chose Nigeria as well as five other African nations to assist in COVID-19 vaccine production.  This happened in response to Africa’s limited access to the vaccines. Moreover, the Director-General of the World Health Organization, Tedros Ghebreyesus, stated that the COVID-19 pandemic showed that dependence on a select few companies to give out worldwide public items is hindering and harmful. He emphasized the need to raise all regions’ capacity to manufacture the health items they need to tackle health emergencies. Furthermore, Tedros championed fair access to COVID-19 vaccines and lashed out at rich nations who hoard jabs and leave Africa behind. On Friday, the European Union- African Union summit in Brussels held a ceremony markin...
ONDO STATE COMMITTED TO END OPEN DEFECATION, SAYS GOV AKEREDOLU.

ONDO STATE COMMITTED TO END OPEN DEFECATION, SAYS GOV AKEREDOLU.

Breaking News
As part of the activities marking his administration's first year in the second term, Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN stated his administration's readiness to end open defecation in the state in the near future. The Governor spoke through his Deputy, Hon. Lucky Aiyedatiwa at the Launch/Flag-off of Statewide Mass Sensitization and Advocacy Programme on Open Defecation tagged "CLEAN HOME, HAPPY FAMILY, USE THE TOILET" campaign. The event was held at Akure Sports Stadium, Akure on Monday. Taken the awareness to the people, Ondo State Deputy Governor, Hon Lucky Aiyedatiwa led other dignitaries and students for a Road Show Walk from Adegbemile Cultural Center to the venue of the event, which is Akure Sports Stadium, Akure. Nigeria still reels from open de...

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