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Summary
Domestic
The month saw significant infrastructure and economic developments in Lagos, Nigeria. The city announced a major new toll highway to Calabar and the commencement of rehabilitation work on the Lekki-Epe Expressway, though the latter is expected to cause traffic disruptions. Concurrently, severe gridlock on a major highway to Ibadan highlighted ongoing transportation challenges. On the economic front, Lagos extended a tax deadline and reported a 20% yearly surge in rents in Lagos and Abuja, increasing pressure on housing. Local authorities also reported investing billions in the creative economy, while police made arrests related to traffic offenses on the new coastal highway route.
International
Regionally, Egypt secured two financing agreements with the African Development Bank totaling $170 million. These funds are designated to support Egypt's private sector, fund a wastewater project, assist the national budget, and advance structural economic reforms. In corporate developments, the telecommunications firm MTN experienced leadership changes in its Iranian operations, with its CEO there removed due to a delay in shutting down certain activities. Separately, the company launched a customer-focused marketing campaign aimed at helping users save on mobile data costs.
Domestic and International Topics
6 topics | 31 sources
NGSeveral developments are happening in Lagos, Nigeria's largest city. The government has extended the deadline for annual tax returns to February 7 and announced that the new Lagos-Calabar coastal highway will be a toll road. Separately, reports show rents in Lagos and Abuja have surged by 20% annually, creating a housing strain. In other local news, police have begun arresting traffic offenders on the new coastal highway route, and poultry farmers say there is no egg scarcity in the city.
place:lagosplace:calabar
Jan 31
BJ/BF/CV+13Egypt has signed two financing agreements with the African Development Bank (AfDB) totaling $170 million. The funds are intended to support the country's private sector and a wastewater project, as well as to help advance structural reforms in its budget.
org:afdb
Jan 19
The Transmission Company of Nigeria (TCN) is asking for support from authorities in Lagos to help protect its power infrastructure from vandalism and theft. At the same time, a significant amount of fuel and other goods is arriving in the city's port, with 24 ships currently unloading petroleum products and other items.
place:lagos
Jan 14
Vice President Shettima says the new Dangote Refinery is expected to transform Nigeria from a fuel importer into a net exporter of refined petroleum products. Meanwhile, the Independent Petroleum Marketers Association of Nigeria has rejected plans to import fuel, and the Dangote Refinery has denied claims that it is experiencing supply disruptions.
topic:fuel
Jan 23
MTN, a major telecommunications company, has removed the head of its Iranian operation. The CEO was ousted after a delay in shutting down the company's network there.
Jan 23
A major traffic jam has brought travel to a standstill on the Lagos–Ibadan Expressway in Nigeria. The gridlock, described as 'hellish' by travelers, has caused significant delays on this key highway connecting two of the country's largest cities.
Jan 24
+ 14 additional sources tracked