Bakassi Deep Seaport
3 days ago
In a significant step towards realising the Bakassi Deep Seaport project, the Cross River State Executive Council has ratified the shareholders’ agreement governing the port’s ownership and operations.
8 Feb
The Cross River State Executive Council has ratified the shareholders' agreement governing the Bakassi Deep Seaport ownership and operations. The agreement mandates the restructuring of Bakassi Deep Seaport Ltd., the Special Purpose Vehicle (SPV) established for the project, as part of the state's partnership with Arise IPP Ltd., a UAE-based firm specializing in port development.…
25 Sep
The Federal Government has endorsed the timely construction of the $3.5 billion Bakassi Deep Seaport integrated project, aimed at facilitating the export of key agricultural products, creating jobs, and enhancing trade and revenue generation.
23 Sep
Dr. Jobson Ewalefoh, the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), has said that the construction of the 3.5 billion dollar Bakassi Deep Seaport will soon commence. This is contained in a statement issued by Ifeanyi Nwoko, ICRC’s Acting Head of Media and Publicity in Abuja on Monday. Ewalefoh made this known at a…
15 May 2024
Cross River State government has secured $3.5 billion in funding from the Pan-African multilateral financial institution, African Export-Importbank (Afreximbank) for some of its key infrastructure projects.
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16 mins ago
In its continued efforts at empowering individuals and corporate organisations for financial stability and growth, the Nigerian-Canadian Business Association (NCBA) will on Friday, in Lagos, assemble experts to brainstorm on unlocking financial pathways and strategic project financing.
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The Tony Elumelu Foundation (TEF) has signed a $6 million strategic partnership agreement with the United Arab Emirates (UAE) Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation, an affiliate of Erth Zayed.
1 day ago
The Abuja Electricity Distribution Company (AEDC) says gradual restoration of power has commenced following a system disturbance that occurred on the national grid on Wednesday. The company, in a statement on its X handle on Wednesday, said that the system disturbance occurred on the national grid at 11:34 am Wednesday, causing power outage across its…
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Nigerian singer, Temilade Openiyi, popularly known as Tems, has broken new ground as she joins San Diego F.C. as a part owner. This move makes her the first African female musician to have a stake in a Major League Soccer (MLS) club in the United States. The announcement was made on Wednesday by the club’s…
1 day ago
The Nigeria Labour Congress (NLC) has called for the immediate reversal of the 50 per cent telecommunications tariff hike. Mr Joe Ajaero, President of the NLC, made this demand in a communiqué jointly signed with Mr Emmanuel Ugboaja, General Secretary of the NLC, on Wednesday in Abuja. The communiqué was issued at the conclusion of…
1 day ago
Jordan's King Abdullah II was visibly uncomfortable as he sat across from US President Donald Trump and discussed the fate of over two million Palestinians in Gaza. Trump's proposed plan to take over Gaza and "clean out" the territory of its Palestinian residents, sending them to Jordan or Egypt, had already sent the region into…
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Chevron will cut 15 to 20 percent of its workforce as part of a reorganisation to save money and to position the oil giant for the long term, the company said Wednesday. The job cuts will begin in 2025 and be mostly complete by the end of 2026, Chevron said in a statement to AFP.…
1 day ago
M23 fighters and Rwandan troops on Wednesday pushed further into the eastern Democratic Republic of Congo, as Burundi warned Kigali it would respond if attacked. The armed group, which has gained ground against the Congolese army since it re-emerged in 2021, seized two towns on the road to Bukavu, the provincial capital of South Kivu,…
1 day ago
The UN force in the Central African Republic on Wednesday said a peacekeeper was killed in the country's north, where rebel groups regularly clash with the army and its Russian Wagner group mercenary allies. Soldiers from the Tunisian contingent of the MINUSCA force were on patrol some 50 kilometres (30 miles) from the town of…
1 day ago
The Federal Government has pledged its commitment to revive the textile industry, its value chains, as well as promote made in Nigeria goods. Minister of State for Industry, Trade and Investment, Sen. John Enoh made the pledge on Wednesday in Lagos, during his visit to Sunflag Nigeria Ltd., on a three day industrial tour. Enoh…