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Embassy of Nigeria Sweden

IFC TO INVEST $1.5 BILLION IN NIGERIA

OIFC

The International Finance Corporation (IFC) has disclosed its intention of investing the sum of $1.5 billion to support housing and infrastructure development in Nigeria. According to the Executive Vice President of IFC, Mr. Jim-Yong Cai, the investment would focus on housing, transport and other infrastructure especially power. He added that IFC has been following what is happening in the key …

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NBS CONFIRM 7.7% GROWTH IN NIGERIA’S MANUFACTURING SECTOR

National Bureau of Statistics

The National Bureau of Statistics (NBS) in conjunction with the World Bank has carried out a joint survey which confirms there will be a 7.7 per cent growth in the manufacturing sector. According to the World Bank, the growth pattern was not limited to the manufacturing sector alone but also in the Retail and Sales sector which grew from 22 …

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NISSAN TO UNVEIL 4X4 SUVs MADE IN NIGERIA

Nissan motor

The Chief Executive Officer (CEO) of Renault-Nissan, Carlos Ghosn, has disclosed that Nissan will unveil a new line of locally manufactured cars at an old Lagos Volkswagen plant by April. He stated that this is in line with Nigeria’s new automotive policy and their interest lies in producing popular cars totally adapted to the needs of Nigerians. According to National …

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The European Union (EU) TO SUPPORT NIGERIA IN RURAL ELECTRIFICATION

european union

The European Union (EU) has agreed to partner with the Federal Government to ensure the provision of electricity to rural communities not captured in the national grid. To this end, the two have agreed to hold further meetings with a view to working out areas of cooperation towards building enhanced power infrastructure and improve electricity supply to the country. Minister …

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TATA AND TVS TO SET UP PLANTS IN NIGERIA

TATA Motors

Two vehicle manufacturing companies from India, TATA and TVS have indicated their interest in setting up automobile plants in Nigeria. The representatives of both companies have revealed that the new National Automotive Industry Development Plan (NAIDP) recently approved by the Federal Government of Nigeria encouraged them to come forward with their proposition. According to the Principal Executive Officer (Information), National …

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