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The Merits of Nigeria's Petroleum Industry Bill

The Petroleum Industry Bill (PIB) combines 16 different Nigerian petroleum laws in a single transparent and coherent document. This is the first time that such a large-scale consolidation has happened anywhere in the world.

Nigeria to Create Investment Centres Around the World

In its bid to ensure that Nigeria continues to be a top investment destination globally, Nigeria's Federal Government said it would create investment centres in about six geographic zones around the world.

Nigeria's Middle Class Growing Rapidly Says Survey

A new detailed survey and report on Nigeria's expanding middle class, issued by the leading emerging markets investment bank, Renaissance Capital, has portrayed Nigeria as a nation that is optimistic about economic growth, values entrepreneurship and is well positioned to capitalise on a boom in consumption.

Nigeria to Secure U.S.$550 Million World Bank Loan

Nigerias Federal Government in its bid to meet its transformation agenda and fix the polluted land in the Niger Delta and other parts of the country is negotiating a $550 million financing, Coordinating Minister of the Nigerian Economy and Minister of Finance, Ngozi Okonjo-Iweala, has said.

U.S. Govt Finances the Takeover of Nigeria's 4th Largest Bank

The Board of Directors of the Overseas Private Investment Corporation (OPIC), the United States government's development finance institution, has approved $250 million (N39.362 billion) in financing for two American firms helping to take a controlling stake in Union Bank of Nigeria Plc.

Nigeria Needs $10 Billion Annually to Achieve 40,000 Megawatts

Nigeria's Federal Government on Thursday said for Nigeria to achieve 40,000 Megawatts by 2020, it has to make an investment of $10 billion in its power sector annually over the next 10 years.

Nigeria Aims to Launch Its Own Rockets Into Space

Following the successful launch of SAT- 2 and SAT- X to the orbit on August 17, nigeria's Federal Government is set to launch its own rocket into space.

Nigeria Converting Billions From Us Dollar to Chinese Yuan

Nigeria's central bank will convert 10% of its $33-billion in foreign reserves to the Chinese yuan, as trade between the two countries continues to grow. We asked Thabo Ncala, co-portfolio manager at Stanlib's Africa Fund whether the growing support for the yuan indicates waning confidence in the dollar.

Nigeria and European Consortium Signs Billion Dollar Investment MOU

Nigeria's Federal Government has signed a Memorandum of Understanding with a consortium of Swiss and European investors for the investment of N240bn ($1.6bn) in the power, petroleum and housing sectors of the Nigerian economy.

Nigeria's Federal Govt Advised to Boost Agriculture

Managing Director of Muregi Associates Limited, Hussaini Mohammed has said that there was the need for the Federal Government of Nigeria to return to agriculture as the major foreign exchange earner.

Gaddafi Forces Enter Northern Nigeria

Some members of the ousted regime of Libya's Colonel Muammar Gaddafi have crossed over to some parts of Northern Nigeria, according to reports by Hamada Radio International.

Wikileaks: France Armed Cameroon to Fight Nigeria

Nigeria's Minister of Defence, told the former American Ambassador to Nigeria, Howard Jeter that the Nigeria's acquisition of military hardware at the heat of its dispute with Cameron over the oil-rich Bakassi peninsula were in response to the arming of Cameroon by France, according to a leaked U.S. diplomatic cables posted by Wikileaks.

CIA, MOSSAD to Probe Nigeria's Security Agencies

Nigeiran President Goodluck Jonathan may have set up a probe committee primarily of Israeli and the United States of America (USA)-recommended intelligence officers to examine the entire Nigerian security apparatus.

Nigeria And Space Technology

Last week, two observation satellites belonging to Nigeria were launched in Russia. Christened Nigeria Sat-X and Nigeria Sat-2, the satellites had been in the works for some time, and were on test-runs until early this month.

ICT Devt Will Contribute to Nigeria’s GDP Growth, Says Minister

Nigeria's Minister of Communication Technology, Mrs. Omobola Johnson has disclosed that the ministry would co-ordinate, facilitate and drive the development of the ICT industry to Increase its contribution to Nigeria's Gross Domestic Productin a way that will catapult the Nigerian economy to greater heights.

International Oil Companies, Contractors Responsible for Nigeria's Capital Flight

Nigeria's Minister of Petroleum Resources, has expressed concern that after many decades of oil exploration and production in Nigeria, contractors and multinational oil companies, that had done business worth billions of dollars in Nigeria, had not left appreciable footprint in the petroleum industry.