Weatherford International has secured a contract from ExxonMobil affiliate Esso Exploration & Production Nigeria to provide integrated deepwater completion services, leveraging its global supply chain and local infrastructure to optimize offshore well integrity and efficiency.
The African Development Bank has approved a $61 million financing package for the Development Bank of Nigeria, combining a $50 million gender-focused line of credit, an $8 million concessional facility for agri-food SMEs, and a $3 million AFAWA grant. Over 95% of the financing is earmarked for women-owned and women-led enterprises, particularly in agriculture.
2 weeks ago • Nigeria
Strides Pharma has agreed to acquire a portfolio of branded generic products from Sandoz across Sub-Saharan Africa, covering anti-infective, cardiovascular, and dermatology segments. The $12 million deal spans four key markets and includes both full acquisition and continued marketing rights, positioning Strides among the region's top five pharmaceutical companies.
2 months ago • Sub Saharan Africa;Nigeria
The Japan International Cooperation Agency and the Nigeria Sovereign Investment Authority have established a long-term partnership to finance West African startups. With a JPY 3.142 billion grant, the project aims to stabilize the local venture capital environment, foster social entrepreneurship, and create new corridors for strategic collaboration between Japanese enterprises and Nigerian innovators.
3 months ago • Nigeria
The Nigerian government has inaugurated the $500 million Sustainable Power and Irrigation for Nigeria (SPIN) project. Supported by the World Bank, the initiative aims to enhance food security and hydropower capacity by upgrading dam safety and transitioning the agricultural sector away from a reliance on seasonal rainfall.
3 months ago • Nigeria
Nigeria has entered a USD 1.3 billion agreement with Africa Finance Corporation to develop an alumina refinery and expand mineral exploration nationwide. The initiative supports efforts to diversify government revenue, strengthen domestic mineral processing capacity, and reduce reliance on crude oil exports.
3 months ago • Nigeria
Saipem has won new technology licensing and engineering contracts from Dangote Fertilizer covering six large-scale ammonia-urea complexes in Nigeria and Ethiopia. The projects, incorporating high-capacity urea units, are set to expand Africa’s fertilizer output and strengthen regional industrial integration.
3 months ago • Ethiopia;NigeriaIsrael-based defense electronics company Elbit Systems has clinched a $350 million international contract to upgrade main battle tanks over a four-year period, integrating advanced situational awareness, AI-driven targeting, and modern communication suites.
UPS is investing nearly $50 million in specialized automotive and industrial network enhancements. The expansion introduces time-definite heavy air freight services between the U.S. and Mexico, streamlining cross-border production cycles and integrating brokerage and warehousing into a single-carrier solution.
Ohmium International and InSolare Energy have partnered to deploy a 4 MW green hydrogen facility for NLC India Limited. Utilizing advanced Proton Exchange Membrane technology, the plant in Neyveli aims to produce 700 metric tons of hydrogen annually for industrial and mobility applications.
Diversified industrial major Rashmi Group has announced a massive 35,000 million INR investment to scale its steel, power, and mining operations in West Bengal. The plan includes adding 7 million tonnes of annual steel capacity and operationalizing newly acquired coal blocks across several districts.