[size=15pt]Foreign Investors Pour Into Nigeria As Economy Accelerates[/size]


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............................Lagos, Nigeria


Mi-Fone To Establish Mobile Phone Manufacturing Plant in Nigeria

http://www.howwemadeitinafrica.com/why-mi-fone-wants-to-establish-a-mobile-phone-manufacturing-plant-in-nigeria/25436/


Nigeria: Unicem Establishes $500 Million Second Cement Line Project

http://allafrica.com/stories/201303090241.html


Naspers Acquires 50% Stake In Nigerian Online Retailer Konga.com


VENTURES AFRICA – South African media giant Naspers, according to report has acquired a 50 percent holding in leading Nigerian online general merchandise store Konga.com, for an undisclosed amount.

HumanIPO reported Naspers’ group information relations officer Meloy Horn, confirmed the acquisition adding that the media giant was “anticipating favourable collaborations involving both parties in the near future.”

“Nigeria will possibly soon be the largest economy on the African continent, therefore as an investor we are keen to participate in the growth of a promising African market,” Horn said to HumanIPO.

http://www.ventures-africa.com/2013/03/naspers-acquires-50-holding-in-nigerian-online-retailer-konga-com/


Procter and Gamble Building $200 million baby-care products plant in Nigeria
http://www.bizjournals.com/cincinnati/blog/2013/03/pg-to-invest-450m-in-african-factories.html


MTN Plans $1.5 Billion Investment In Nigeria This Year
http://www.itnewsafrica.com/2013/03/mtn-nigeria-plans-1-5-billion-investment-this-year/


Nigeria stock market surge seen gaining momentum over 2013


http://www.communityjournal.net/nigeria-stock-market-surge-seen-gaining-momentum-over-2013/


CEC invests $164m in Nigeria

THE Copperbelt Energy Corporation (CEC) is set to invest U$164 million for a 60 percent stake in Nigeria’s Abuja Electricity Distribution Company (AEDC).
According to information availed to the Zambia Daily Mail yesterday, the development is aimed at reforming the power sector and address the need for increased investment.
KANN Utility Company Limited, a 50 percent joint venture of the CEC has signed a sale and purchase agreement to acquire a 60 percent interest in the AEDC.
The agreement was signed in the Nigerian capital, Abuja, last month between KANN Utility Company Limited, the Bureau of Public Enterprises and the Ministry of Finance of Nigeria.

http://www.daily-mail.co.zm/?p=467


Two Polish trade delegations Storm Nigeria. Say ''We Are Interested In Doing Business Here!!

http://allafrica.com/stories/201303200405.html


GE Makes Nigeria Its Africa Hub - builds $1 Billion Manufacturing Plant In Calabar

The Federal Government and General Electric (GE) Company of the United States Thursrday sealed a $1 billion (N158 billion) investment deal on the establishment of a new manufacturing and assembly facility in Calabar, the Cross River State capital.

The investment milestone also came on a day an indigenous power company, Geometric Power Limited signed a Joint Development Agreement (JDA) with US power firm, General Electric Company (GE) for the development of a 450 megawatts (MW) thermal power plant to be sited in Aba, Abia State.

Speaking on the $1 billion deal, Minister of Trade and Investment, Mr. Olusegun Aganga, who signed the Memorandum of Understanding (MoU) on behalf of the Federal Government, with the Global Chairman and Chief Executive Officer of GE, Mr. Jeff Immelt, signing on behalf of the company, said GE’s proposed investment in Nigeria was based on the country’s positive macroeconomic indicators.

It was gathered that the deal, which comprises $250 million capital expenditure and about $800 million incremental spending on local sourcing of goods and services, is expected to create 2,300 jobs and make Nigeria the regional hub for GE’s manufacturing service and innovation in Africa.
The deal will also support the company’s power generation, oil and gas production and exploration activities.

http://www.thisdaylive.com/articles/...-plant/138100/


Indorama to build $1.2 billion fertilizer plant in Nigeria

Indorama Eleme Fertilizer and Chemicals Limited Nigeria (IEFCL), a subsidiary of the Indorama Corporation of Singapore, plans to build a US$1.2 billion fertilizer plant in Nigeria, which will also become the single largest urea manufacturing complex in the world.

IEFCL has signed long-term financing agreements of $800 million with 16 global developmental financial institutions and commercial banks to finance the construction of the fertilizer plant in Port Harcourt, the Rivers State capital, the company said in a statement.
“The state-of-the-art manufacturing complex will produce 1.4 million tons of granulated urea per annum, using natural gas as feedstock, from early 2016,” Indorama Group managing director, Amit Lohia, said Singapore-headquartered Indorama Corporation, the holding company of the Indorama group, is the world’s largest polyester and PET resin producer. It is also a major producer of PTA and Nitrile rubber gloves.

“This is a very prestigious project for the Indorama Group, which started in Indonesia in 1976, and has a rich pipeline of petrochemical projects globally to further build on its global petrochemical presence”, SP Lohia, Indorama’s Group chairman, said.
Its Indonesian subsidiary PT Indorama Synthetic is one of the largest producers of polyester in the country.

http://www.thejakartapost.com/news/2...t-nigeria.html



WEMPCO’s $1.3bn steel plant comes alive

The test-running of the over $1.3 billion Western Metal Products Company Limited’s (WEMPCO) cold roll steel plant at the Lagos-Ibadan motor-way, Ogun State, came alive on Friday, following which it was flagged-off by the Minister of Mines and Steel Development Mohammed Musa Fada.

According to Lewis Tung, WEMPCO’s group managing director, the plant which has a production capacity of 700, 000 metric tonnes, will produce cold roll steel sheets and coils, from 0.15 millimeter thicknesses and above.

Government over the years has received knocks from industry players and other concerned Nigerians for its failure to design Ajaokuta to produce steel sheets which the take-off the nation industry needs to operate at optimal level. WEMPCO has thus come in to fill the gap the industry has been bedeviled with all these years.

The ministers’ comment at the flag-off corroborated this to some extent. He gave a long list of the product/downstream usage, which includes automobile/truck body building, roofing sheets, pipes, all kinds of metal containers including food storage, steel furniture, strips, enamelware, storage tanks, electric appliances, washing machines, motor cycles, machinery structure and body.

http://www.businessdayonline.com/NG/index.php/markets/companies-and-market/48461-wempcos-13bn-steel-plant-comes-alive



Chinese firm to build $7.5bn refinery in Cross River State

CALABAR, NIGERIA - A Chinese firm, Sino Arab Energy, SAE, in partnership with a local firm, Osabo Refining and Petrochemical Industry Limited, have concluded plans to build a refinery in Akabuyo, Local Government Area of Cross River State.

Agreement for the construction of the refinery which is expected to refine 107,000 barrel of crude per day have been signed by the partnering firms, and is valued at about $7.5billion.

Speaking on the project, Hon Etim Effiong Okon, who is a member of the management team of Osabo Refining, said the process for the procurement of requisite licenses to establish and operate the refinery had fully commenced, while Akwa Esuk Eyamba, the community where the refinery will be located had donated 500 hectares of land for the refinery.

http://odili.net/news/source/2013/jan/15/320.html



Abuja, Nigeria



PZ Cussons Invests $612 Million in Palm Oil Refinery

Consumer product maker PZ Cussons expects a $56 million palm oil refinery in partnership with Singapore's Wilmar International to be operational by the third quarter of next year, the chief executive of Cussons' Nigerian unit said on Friday.

Christos Giannopoulos said the joint venture company PZ Wilmar will invest 100 billion naira ($612 million) in Africa's second biggest economy over the next 5-7 years to develop oil palm plantations that will feed the refinery and reduce import bills.

He estimated that Nigeria imports around 300-400,000 tonnes of oil palm a year.

"We are in the process of expanding our activities into oil palm plantation and creating the raw materials in Nigeria to satisfy not only our own refinery but also the growth of the sector," he told Reuters in his office in the commercial capital Lagos, adding that Nigeria was the biggest oil palm producer in the world 20-25 years ago before Malaysia overtook it.

Source: Reuters


Dangote to Build $2 Billion Fertiliser Plant in Edo State

The groundbreaking ceremony of a $2 billion (about N300 billion) fertiliser plant, the biggest in Africa to be sited in Agenebode, Edo State will be done before the end of January 2013.

Disclosing this at a reception in Benin City, on Monday, as part of activities to mark the second term inauguration of Governor Adams Oshiomhole, President of Dangote Group, Alhaji Aliko Dangote, said arrangements have been concluded for the ceremony in December or before the end of January 2013.

Dangote, who was listed by Forbes magazine as Africa’s richest man, said the company which is expected to employ about 10,000 people directly and indirectly will be completed in three years.

He said: “yes we will build the biggest fertiliser plant in Africa here in Edo State.”

http://www.thisdaylive.com/articles/...in-edo/130575/



22 Japanese firms visit Nigeria for investment opportunities

(July 2012)

Twenty-two Japanese firms are presently in the country on an investment opportunities seeking mission.

This was disclosed, on Tuesday, by Nigerian Ambassador to Japan, Godwin Agbo, when he led a Japanese trade mission to the Minister of State for Trade and Investment, Dr Samuel Ortom.

He said the visit was in response the federal government's foreign investment drive which was meant to stimulate economic growth and job creation.

According to Agbo, the representatives of the 22 foreign companies are among the delegation.

Some of the firms represented were the Bank of Tokyo, Elite Trading Company, Fill Corporation, Kawasaki Industries, Mitsubishi Corporation, Mek Africa and Yamaha Motors.

“This delegation is made up of leaders of industries in various fields; they are here to explore how to partner with us,’’ the envoy said.

Responding, Ortom said it was the first time such a huge number of potential investors from one country was visiting Nigeria.

He said the ministry was created to provide enabling environment for investments, assuring that opportunities abound in Nigeria as the government has provided lots of incentives to investors.

The minister noted that Nigeria and Japan had enjoyed robust trade relations, adding that there was the need to balance the gap in trade as it favoured Japan more.

``Nigeria is open to investment in power, port development, renewable energy, mass transportation, agriculture, solid minerals, oil and gas among others.

``Nigeria has over 88 million square metres of arable land, but only half of it is being utilised,’’ he added.

The Japanese Ambassador to Nigeria, Mr Ryuichi Shoji, was part of the delegation.

http://www.businessdayonline.com/NG/index.php/markets/investor/37794-22-japanese-firms-visit-nigeria-for-investment-opportunities



Artee Group to open 100 outlets in Nigeria

Artee Group, owners of SPAR and Park&Shop is planning to open 100 shopping outlets in Nigeria in the next six years, BusinessDay can reveal.

The proposed outlets, BusinessDay understands, will come as hyper format units comprising of between 400 and 500 shops located within the outlets.

In order to actualise this plan, the Artee Group will be investing heavily in real estate through the development of shops and malls for itself and others.

Speaking exclusively to BusinessDay, group managing director, Haresh Keswani said the Group does not see this move as shooting itself in the foot, since there is room for all in retail business in Nigeria..

http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/43630-artee-group-to-open-100-outlets-in-nigeria



Marriott Hotel Berths in Lagos


Quantum Capital, chaired by the former Managing Director of Zenith Bank Plc, Mr. Jim Ovia, has concluded arrangements to bring the prestigious Marriott Hotels brand to Nigeria.

Announcing the plan at an agreement signing ceremony held at the Civic Centre, Lagos Thursday, Ovia said the planned five-star hotel to be located on the Ozumba Mbadiwe waterfront boasts 150 star rooms.

“We are proud to have the opportunity to partner with a world-class brand like Marriott,” Ovia said, pointing out that the Nigerian economy continues to be an attractive destination for Foreign Direct Investment (FDI), particularly with the boom in the telecoms industry and the attractiveness of the banking sector.

http://www.thisdaylive.com/articles/...-lagos/131479/



Brazilian Businessmen to Invest in Nigerian Economy

A team of Brazilian investors from the country’s third largest Conglomerate, Querioz Galvao Group, has visited Nigeria seeking opportunities to put money in various sectors of the economy.

Nigerian Ambassador to Brazil, Vincent Okoedion, who introduced the investors to reporters at a meeting in Abuja yesterday, said the event was an outcome of President Goodluck Jonathan’s recent visit to Brazil where he took advantage of the UN Earth Summit to also meet the country’s leading businessmen and gave them many reasons to invest in Nigeria.

He disclosed that more than seven different big companies from Brazil would also send representatives to Nigeria to assess the country’s business climate in a matter of weeks.
He added that the investors’ visit was also part of preparations for the President Dilma Rousseff of Brazil’s visit to the country later in the year.

According to him, the company is interested in all areas of infrastructure including transportation, energy and housing while they already operate in 42 countries having existed for 60 years.

Minister of Trade and Investment, Olusegun Aganga, said the group contained 50 companies with 50,000 staff strength.

http://www.thisdaylive.com/articles/...conomy/121783/


48 Firms Inject $2 Billion in Lagos Free Zone

The Lekki Free Trade Zone (LFTZ) has attracted a total of N170.5 billion investment commitment from 48 investors, the Minister of Trade and Investment, Olusegun Aganga, has said.

Aganga noted that the LFTZ had all the features to make it one of the most successful Free Trade Zones in Africa.

He spoke during the LFTZ Investment Forum and opening ceremony of the Eko Expo 2012, in Lagos, at the weekend.

One of the top investors in the zone includes Puma Energy Free Zone Enterprise (FZE), which is investing in oil and gas terminal depot construction. The company, which has already commenced construction, is investing $400 million in the zone.


Others are Imad Oil and Gas FZE, which is investing $200 million; China Railway Construction Corporation ($50 million); and YFK Pharmaceutical FZE ($30 million), among others.

http://www.thisdaylive.com/articles/...e-zone/121766/



Port operator Giant ICTS To Invest in $1.4 Billion Terminal in Lekki Free Trade Zone, Lagos

Port operator International Container Terminal Services Inc. has bagged a new contract to develop and run a major container terminal in Nigeria’s Lagos Free Trade Zone that is expected to be the largest terminal in sub-Saharan Africa once operational in 2016.

ICTSI is expected to invest over $225 million in this project, thus raising its stake in Africa. The Philippine company currently has operations in Madagascar, making Nigeria its second market in the region.

In a disclosure to the Philippine Stock Exchange on Friday, ICTSI said it had signed a sub-concession agreement with Lekki Port LFTZ (LPLE) for a container terminal at a deep water port in Ibeju Lekki, Lagos also called Tolaram Port@Lekki, which is envisioned to be a world class, modern multi-purpose port that will serve not only Nigeria but also its neighboring countries.

In a separate statement, ICTSI said it would invest in excess of $225 million to provide cargo handling equipment and related information technology infrastructure. This investment forms part of the $1.4 billion being invested in the entire port development.

The Tolaram Port@Lekki is currently being developed and managed by the Tolaram group in partnership with the Nigerian Port Authority and the Lagos State Government.

http://business.inquirer.net/76123/i...geria-terminal

Na naija de for dat pic?

Rossik abi how dem they call you which one i go fit buy share for one naira per unit. Please send am secreatly into my mail box.

GEJ I gat ya back

@Op..,Well done!

sheyie2007: Na naija de for dat pic?

That's Lagos 1st and Abuja 2nd.

Ok.

God's will is begining to happen in nigeria,more are still coming.thank u lord for using Goodluck jonathan to perfect ur will in our nation

Make the companies come quick quick, before Boko Haram president takes over to declare all these investments 'haram'

Sincere 9gerian: @Op..,Well done!

You're welcome boss.

Great post...will contribute to it much later

it is sad how some people will come here and call all those hailing this thread "ostriches who bury thier heads in the sand".

Keep it up rossikie. Leave the haters who will come in here and exaggerate the problems we have in Nigeria. These set of people are still poor becos they invest so much time in negativities that they have little time to think constructively. Thank god the investors are wiser.

Rossikk:

You're welcome boss.

Haba, na you be "oga at the top" na

we see things like this happen in Naija yet some people are busy predicting doom for the country. SMH. Message to y'all who think we would implode; we are waxing stronger by the day and when 2015 has come and gone and we are still together, i wonder which year you will be forcasting. :O

Where are the vampires? If it is evil news you will see dem rushing to make comments.All d people that wish Nigeria evil will not partake of her economic gains(that is my prayer for you).

Jeboy: Where are the vampires? If it is evil news you will see dem rushing to make comments.All d people that wish Nigeria evil will not partake of her economic gains(that is my prayer for you).

much like the story in the bible right? They would see naija prosper but will not partake.

industrialization on a full scale.. lets go there

Rossikk welldone. I admired your optimistic outlook of this great country. If everyone can be like you, we would be change agent.

Sincere 9gerian:
Haba, na you be "oga at the top" na

No, na you be my oga mehn.

nig2change: Rossikk welldone. I admired your optimistic outlook of this great country. If everyone can be like you, we would be change agent.

Thanks bro...I think there is just a paucity of information on what's going on out there...If more people knew about this they'd be a lot more optimistic about the nation's prospects. I think we need a dedicated, 24hr, digitalised business TV channel in Naija, like CNBC.

taharqa: Great post...will contribute to it much later

As usual, your erudite opinion is welcome.

This worth front page? Nahhh....Mods too worthless for that. Ebugbe Nwagbo "posing with her new Porsche Panamera" is far more important. As is "Janet Jackson converting to Islam". You wonder when Seun will remove these little children posing as mods and put in people with working brains there..

@@@@

it isn't enough as long as the conditions and environment is respected

we have had enough of deforestation and thing

condition also include the wages etc

Gej needs to employ the likes of Rossik and not retards and cry babies like beaf and insincere niggerianz. This guy is proly the best PR guy for Nigeria. Love ya man! Thumbs up.

I hope they are not like the foreign investors that come and strip away our assets eg RUSSAL, Pentascope et al?

otokx: I hope they are not like the foreign investors that come and strip away our assets eg RUSSAL, Pentascope et al?

Those were companies brought in to take over divested public assets as opposed to the companies posted above who are coming in to build and run their own stuff.

ok then, lets hope for the best, of the companies you listed there the one i can verify that is on ground and doing very well is INDORAMA but my grouse is that most of their profit returns to their parent company in their native land. The federal government should have compel most of this companies to list on the Nigerian stock exchange.

otokx: ok then, lets hope for the best, of the companies you listed there the one i can verify that is on ground and doing very well is INDORAMA but my grouse is that most of their profit returns to their parent company in their native land.

But that was how South Korea and other Asian tigers developed. Foreign investment from the west and Japan, whose companies repatriated their profits. But you find that their doing so is fair shakes considering their initial capital investment in the said projects, and the actual business they generate in terms of direct and indirect employment, and the boosting of economic activities, which add to GDP.

This should make front page now...Why are nairaland MODs totally useless

dplordx: This should make front page now...Why are nairaland MODs totally useless

Don't hold your breath. Tonto Dikeh is still flexing.

The Nigerian economy will be greatly boosted by the development of deep seaports at Lekki and Ibaka (Akwa Ibom), the completion of the Eko Atlantic City and the revitalisation of our airlines and manufacturing sectors. Aviation, in particular, has the potential to contribute, at least, 33% of our GDP. I just hope that Arik and Aero will merge to form that Nigerian mega carrier.
It's good that oil doesn't contribute the lion's share of Naija's GDP or FG's total revenue.

Rossikk:

Don't hold your breath. Tonto Dikeh is still flexing.

LWKMD