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Cybercriminals Attack Nigeria Financial Services, Aviation Sectors

Cybercriminals Attack Nigeria Financial Services, Aviation Sectors

With the continuous contact of several cybercriminals to the financial services and aviation sector of Nigeria, experts have expressed their deepest concern as to the security of the country’s finances.

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GE

General Electric Eyes on Investing $150 Million in Nigeria

U.S. industrial firm General Electric (GE.N) plans to invest around $150 million in Nigeria by 2017

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Fuel Shortages In Nigeria Cause Queues At Gas Stations

Major Oil Companies Fund Nigeria's $200 Million Fuel Imports

Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.

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NIGERIA-ECONOMY-INTERNET-AFRICA

Nigeria's Ntel Seeks $1 Billion Investment for 4G LTE Service Expansion

Ntel is seeking $1 billion loan investment for its 4G mobile broadband expansion for 2020 to take advantage of the increasing number of smartphone users in Africa. It will start its 4G LTE service to Abuja and Lagos by April 8 competing with other Nigerian four company internet and broadband providers.

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New Study Tests Health Benefits Of Chocolate's Cocoa Flavanols In Pill Form

Massive cocoa production will revive struggling economy of West Africa

Experts of African economy believe that the growing cocoa production will help the West African countries to recover from the flagging economic condition.

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NIGERIA-ECONOMY-ENERGY

Boosting Electricity Power In Nigeria Needs Widening of Grid Says Azura

Nigeria as biggest economy of Africa is not able to meet demands for power supply for various reasons. Azura which generates power for Nigeria, is of view that for supply to increase the power transmission the grid must be expanded. And terms of the management of transmission grid which is run by a Canadian Company needs to be reviewed.

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Nigerian Economy And Oil In Niger Delta And Port Harcourt

Nigeria's National Oil Company Announced an Annual Loss of $1.34 Billion

The loss is combined from its corporate service unit and its three refineries. The total annual loss was consistent with the company's continuing monthly loss over the past year. Nigeria, as Africa's biggest economy and largest oil producer, has been greatly suffered the oil prices fall.

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Cheltenham Festival - St Patrick's Day

Nigeria Economic Slowdown Hits Guinness Nigeria's Sales

Guinness Nigeria, the country's second-biggest brewer is seeing a prolonged decline in sales and shares. The failing of the beer industry is part of a bigger national economic slowdown, whereas Nigeria, Africa's largest economy, seek out for loan to cover budget deficits.

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Smartphone users

Xiaomi sold 1 million smartphones in India

Xiaomi sold 1 million handsets in the third quarter in India, which considered its second biggest market. CNET has reported that Xiaomi VO Hugo Barra considers this quarter their best quarter ever with the sales benchmarks it reported. The sales in India add a whopping 45 percent quarter-on-quarter growth for the company.

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Scottish Whisky

Diageo Plc to Raise Stake in Guinness Nigeria Plc of up to 70%, or $200M

British Multinational Beverage Company Diageo Plc is planning to increase its majority stake in the Lagos, Nigeria-based brewer Guinness Nigeria Plc to 70 percent, which is worth $200 million. Diageo, the biggest distiller in the world and maker of Johnnie Walker, plans to offer 175 naira a share to raise its shareholdings in Guinness Nigeria to 70% from 54.3%. According to the report published at Bloomberg, that deal would cost about 41.38 billion naira, or $208 million. Guinness shares spiked 5 percent to 131.48 naira Wednesday after it announced Diageo's plans. This valued the Nigerian brewery at 198 billion naira.

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Africa Food

Local vendors, not supermarkets, key to Africa food security

Traditional markets sell more than 85 percent of the food consumed in sub-Saharan Africa, and rather than replacing them with Western-style supermarkets, governments should train local vendors to improve food safety, researchers say.

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China Railway

China Railway Construction wins $12 billion Nigeria deal: Xinhua

China Railway Construction Corp (601186.SS) (1186.HK) has signed a deal worth nearly $12 billion with Nigeria to build a railway along the West African nation's coast, Chinese state news agency Xinhua said on Thursday.

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Worshippers

Nigeria's 'megachurches': a hidden pillar of Africa's top economy

When a guesthouse belonging to one of Nigeria's leading Christian pastors collapsed last month, killing 115 mostly South African pilgrims, attention focused on the multimillion-dollar "megachurches" that form a huge, untaxed sector of Africa's top economy.

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Nomanini PoS

Nomanini secures additional ZAR 4.8million investment for international expansion

Nomanini was able to secure an additional investment of ZAR 4.8 million ($449,000) from the Industrial Development Corporation (IDC). The company provides a unique and colorful mobile Point-of-Sales (Pos) terminal to mobile operators...

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Uganda oil block

Nigeria-Kenya Chamber of Commerce grants 7 oil fields to NIgerian business men sparking deeper business ties in other sectors

Dr Kiprono Kittony, the chairman of the Nigeria-Kenya Chamber of Commerce, announced in a meeting in Abuja Monday that 7 of the 46 newly discovered oil fields will be granted to Nigerian business men.

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