PM News Nigeria

Hitachi to provide world’s fastest elevator

Guangzhou CTF Financial Centre

Japan’s Hitachi has said it will provide the world’s fastest elevators, which can clock speeds of up to 72 kilometres (45 miles) per hour, to a high-rise building in China. The lifts will be delivered to the 111-storey, 530-metre (1,740-foot)-tall Guangzhou CTF Financial Centre due to be opened in the southern Chinese city of Guangzhou […]

Amosun developing four estates, says Odusolu

Babajide Odusolu

Abiodun Onafuye/Abeokuta In pursuance of the urban renewal programme of the Ibikunle Amosun administration in Ogun state, four new estates with 600 housing units are being developed in the three Senatorial Districts. Babajide Odusolu, the Special Adviser on Trade and Investment who also doubles as the Managing Director, Ogun State Property Investment Corporation, OPIC disclosed […]

Nigeria’s capital approves new housing project

•Bala Mohammed: FCT Minister

The Minister of Nigeria’s Federal Capital Territory, Senator Bala Mohammed, said the city’s authorities had given 1,264.8 hectares of land to an investor for a housing programme. Mohammed said that the land was located at Kuje, on the Airport Road in the capital territory. He said this on Friday in Abuja while signing an $18.3 […]

Battle Between Otudeko, Dangote Rages Over Port Land

•Otudeko and dangote

Akin Kuponiyi As the legal battle for the ownership of a portion of land at Apapa Port rages on between two foremost Nigerian businessmen Oba Otudeko and Alhaji Aliko Dangote, the plaintiff in the case Honeywell has tendered ocuments to support his claim against Dangote and others. The documents were tendered through the property manager […]

Obasanjo stresses need for Africa’s infrastructure

Obasanjo: stresses need for African infrastructure

Former Nigerian leader, Olusegun Obasanjo has called for efficient infrastructure development to support economic activities in the continent. Obasanjo made the call at the opening ceremony of the 3rd International Conference on Infrastructure Development in Africa in Abeokuta on Monday. The conference was organised by the Bells University of Technology, Ota, in collaboration with the […]

New Niger Bridge triggers hope and resentment

The old Niger Bridge

Sometimes a bridge is more than just a bridge. After years of delays and empty promises, Nigeria has finally begun work on a new bridge across the vast River Niger, connecting states in the southeast to major commercial hubs in the southwest. Many of the Igbo ethnic group that dominates in the southeast have applauded […]

Profits plunge for Intercontinental Hotels group

Intercontinental Hotel in Lagos Nigeria: group reports profit decline

InterContinental Hotels Group, which opened a new hotel in Lagos Nigeria last year, said on Tuesday that annual net profit plunged owing to increased tax charges. The world’s largest hotel operator by number of rooms reported $372 million profit after tax, for 2013, a 31 per cent decline compared with the group’s performance in 2012, […]

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