Business news nigeria development

Here are some recent business news and developments in Nigeria:

Economic Updates

  1. Nigeria's economy grows by 2.3% in Q1 2023: The National Bureau of Statistics (NBS) has announced that Nigeria's economy grew by 2.3% in the first quarter of 2023, driven by growth in the services sector. (Source: NBS)
  2. Inflation rate drops to 17.1% in May 2023: The NBS has reported that Nigeria's inflation rate dropped to 17.1% in May 2023, from 17.3% in April 2023. (Source: NBS)

Business and Industry Developments

  1. Dangote Cement to invest $1.5 billion in new plant: Dangote Cement, Nigeria's largest cement producer, has announced plans to invest $1.5 billion in a new cement plant in the country. (Source: ThisDay)
  2. MTN Nigeria to list on Nigerian Stock Exchange: MTN Nigeria, a subsidiary of South African telecoms giant MTN, has announced plans to list on the Nigerian Stock Exchange (NSE) in the coming months. (Source: Vanguard)
  3. Nigerian government to establish $1 billion sovereign wealth fund: The Nigerian government has announced plans to establish a $1 billion sovereign wealth fund to invest in infrastructure and other sectors. (Source: Premium Times)

Startups and Entrepreneurship

  1. Nigeria's startup ecosystem raises $150 million in Q1 2023: Nigeria's startup ecosystem raised $150 million in the first quarter of 2023, with fintech and healthtech startups leading the way. (Source: Techpoint)
  2. Andela raises $200 million in Series E funding: Andela, a Nigerian startup that connects developers with companies, has raised $200 million in Series E funding from investors including Google and Salesforce. (Source: TechCrunch)

Infrastructure and Energy

  1. Nigeria to invest $10 billion in power sector: The Nigerian government has announced plans to invest $10 billion in the power sector over the next five years to improve electricity generation and distribution. (Source: ThisDay)
  2. Lagos to invest $1.5 billion in transportation infrastructure: The Lagos State government has announced plans to invest $1.5 billion in transportation infrastructure, including the construction of new roads and bridges. (Source: Vanguard)

Agriculture and Food

  1. Nigeria to invest $1 billion in agriculture: The Nigerian government has announced plans to invest $1 billion in agriculture over the next five years to improve food security and increase agricultural productivity. (Source: Premium Times)
  2. Dangote to invest $1.5 billion in rice production: Dangote Group, Nigeria's largest conglomerate, has announced plans to invest $1.5 billion in rice production to increase the country's rice self-sufficiency. (Source: ThisDay)

These are just a few of the recent business news and developments in Nigeria.