Wednesday, December 25Nigeria's Authoritative Maritime News Magazine
Shadow

Tag: investment

BAYELSA BEYOND OIL: Gov Douye Offers Tax Relief, Land *As Gov Bags Georgia Honorary Citizenship

BAYELSA BEYOND OIL: Gov Douye Offers Tax Relief, Land *As Gov Bags Georgia Honorary Citizenship

Maritime, News Feature
Governor of Bayelsa State, Senator Douye Diri, has said his administration was encouraging investment in the state with incentives such as tax holiday and provision of land. Governor Diri, who was the keynote speaker at the 10th International Forum on African-Caribbean Leadership in New York, United States of America, on Tuesday, also stated that with power now on the concurrent list, his administration was committed to enhancing electricity supply in the state with signing of its electricity law as well as revamping its gas turbines to generate and distribute 24-hour power. The Bayelsa helmsman, who showcased the investment and economic potentialities of the state, averred that its wealth were more in its maritime domain and that the government was diversifying the economy from its ...
FOREIGN INVESTMENT INTO NIGERIA DROPS BY 43% – UN REPORT

FOREIGN INVESTMENT INTO NIGERIA DROPS BY 43% – UN REPORT

Breaking News, Business, Politics
Foreign direct investment in Nigeria, Africa’s top oil producer, plunged by 43 per cent to $2bn, according to a United Nations report. Reuters reported on Thursday that investors were put off by a dispute between the government and South African telecom giant MTN over repatriated profits. Banks HSBC and UBS both closed representative offices there in 2018. That left Ghana, which is in the midst of an oil and gas boom and saw inflows of $3bn, as West Africa’s leading destination for foreign investment. Italy’s Eni Group was behind Ghana’s largest greenfield investment project. It said the development of new mining and oil projects, a new US development-finance institution and the ratification of an agreement to create a continent-wide free-trade area could further boost...