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Financial News
Elumelu urges Indians to invest in Nigeria
"This is the time to invest in Nigeria. I speak as a private sector investor in Nigeria, the companies in our Group’s investment portfolio demonstrate the opportunity,” Mr Elumelu said.
The Chairman of Heirs Holdings Group and United Bank for Africa, Tony Elumelu, has urged Indian investors to leverage an array of opportunities in Nigeria, adding that now is the best time to invest in Africa’s largest economy.
Over 10 countries indicated interest in Abuja Trade Fair – Official
The Abuja Chamber of Commerce and Industry (ACCI) on Wednesday said over 10 countries and 500 companies have indicated interest in participating in the 2023 Abuja International Trade Fair (AITF).
The ACCI President, Al-Mujtaba Abubakar, disclosed this at a press briefing in Abuja on Wednesday.
Mr Abubakar explained that the AITF scheduled for between 29 September to 9 October 2023 at the Abuja Trade and Convention Centre and the open field of ACCI is a prestigious multi-sectoral event in Nigeria that continues to expand its scope and influence.
Speaking with journalists on Wednesday, Mr Abubakar said Bulgaria, Ghana, Egypt, India, China, Guinea, the UAE and Syria among others have indicated an interest in participating.
FG unveils strategy for Nigeria’s steel sector revival.
The Nigerian government on Tuesday unveiled an overhauling strategy for Nigeria’s steel sector revival.
The Head, Press and Public Relations of the Ministry of Mines and Steel Development, Alaba Balogun, made this known on Tuesday.
Mr Balogun said the federal government through the newly created Ministry of Steel Development has taken significant steps towards rejuvenating the nation’s steel sector by announcing a comprehensive insurance coverage for all ongoing steel projects within the country.
Nigeria’s crude oil production rose in August – OPEC
Oil production from the 13 members of the organization, OPEC, averaged 27.45 million barrels per day (mb/d) in August 2023, higher by 113 thousand barrels per day (tb/d) on a month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday.
The report also noted that crude oil production in Saudi Arabia, Angola and Venezuela declined in the same month.
Nigeria’s crude oil production climbed to 1,269 million barrels per day, from 1,171 million in July 2023, while Angola’s output fell 60,000 bpd to 1.155 million barrels a day from 1,175 in July, an OPEC survey, which cites secondary data sources, said.