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Nigeria Launches Naira-for-Crude Oil Sale Agreement with Dangote Refinery

  Abuja, Nigeria – The Nigerian government has officially launched its Naira-for-crude oil sale agreement with Dangote Refinery, marking a significant step towards stabilizing the economy and promoting local currency usage in the oil sector. The announcement was made by the Minister of Finance, Wale Edun, in a statement shared on the Ministry of Finance’s official X …

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World Bank Partners with Nigeria to Enhance Marine and Blue Economy Sector

The World Bank has shown a keen interest in partnering with Nigeria to advance the development of its Marine and Blue Economy sector, with a particular emphasis on sustainable fisheries.  During a recent courtesy visit to the Minister of Marine and Blue Economy, Adegboyega Oyetola, Ms. Lia Sieghart, the leader of the World Bank delegation, …

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Nigeria ranks 6th on the list of countries with the highest foreign exchange and gold reserves in Africa

Lagos, Nigeria – October 2, 2024 – Nigeria has solidified its position as a financial powerhouse in Africa, ranking as the sixth-largest country in terms of foreign exchange and gold reserves. According to the esteemed Global Firepower, Nigeria currently holds approximately $37.75 billion in reserves, a testament to its robust economic management and strategic financial policies. …

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Nigeria’s Carbon Market Activation Policy Set to Unlock $2.5 Billion by 2030

Abuja, Nigeria – The Federal Government has expressed optimism about the transformative potential of the Nigeria Carbon Market Activation Policy (NCMAP), projecting it could unlock a carbon market worth between $736 million and $2.5 billion by 2030. This ambitious initiative is also expected to create between 600,000 and 2.3 million green jobs for Nigerian youth while …

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Nigeria Poised to Become a Net Exporter of Tech Talent, Says Minister

New York City, NY – Dr. Bosun Tijani, Nigeria’s Minister of Communications, Innovation, and Digital Economy, is optimistic about the country’s future as a net exporter of tech talent. In a recent interview with Rest of World’s founder and publisher, Sophie Schmidt, Tijani highlighted the significant strides Nigeria has made in its tech ecosystem. A seasoned entrepreneur and co-founder of the Co-Creation Hub, Tijani brings …

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Arewa Tech Fund: A $50 Million Boost for Northern Nigeria’s Innovation Ecosystem

Kano, Nigeria – In a groundbreaking move to foster innovation and economic growth in Northern Nigeria, the Arewa Tech Fest has unveiled the Arewa Tech Fund, a $50 million initiative aimed at empowering tech startups and entrepreneurs. Spearheaded by former Kaduna State Governor, Mallam Nasir El-Rufai, the fund promises to transform the region’s economic landscape. The Arewa Tech Fund …

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Connectivity key to improving e-governance in Nigeria

Abuja, Nigeria – Tech and telecom experts have emphasized the critical role of enhanced connectivity in driving Nigeria’s e-governance initiatives. During the Nigeria eGovernment Summit 2024, themed “Transforming Governance with Technology for Improved Economy,” industry leaders discussed the challenges and opportunities for digital transformation in the country. Reuben Oshomah, Regional Director at Avanti Satellite, underscored the importance of connectivity as …

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Nigeria’s Foreign Reserves Hit 22-Month High Amid Significant Inflows

Abuja, Nigeria – Nigeria’s foreign reserves have reached a 22-month high, reflecting a surge in foreign inflows to the country’s economy. According to data from the Central Bank of Nigeria (CBN), the reserves stood at $37.31 billion as of September 18, 2024, the highest level since November 4, 2022. This significant increase marks a recovery in Nigeria’s foreign currency position, which has been …

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Nigeria’s Soaring Potential: A Helicopter Industry Takes Flight

Lagos, Nigeria – With its vast landmass and burgeoning population, Nigeria presents a lucrative market for helicopter services. Yet, despite its immense potential, this sector remains largely untapped, offering significant investment opportunities. Helicopters, capable of reaching remote areas and providing swift transportation, are invaluable assets for various industries. From search and rescue operations to disaster relief, …

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Northern Nigeria Gears Up for Groundbreaking Tech Fest: Arewa Tech Fest Set to Ignite Innovation

Kano, Nigeria – Northern Nigeria is poised to take center stage in the African tech scene with the inaugural Arewa Tech Fest, a multi-state event set to become a landmark gathering for tech enthusiasts, entrepreneurs, and industry leaders. Convened by former Kaduna State Governor, Mallam Nasir El-Rufai CON, the festival promises to be a game-changer, fostering innovation, …

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