logo
Nigeria Plans $464 Million Waterway Boost to Ease Lagos Traffic

Nigeria Plans $464 Million Waterway Boost to Ease Lagos Traffic

Bloomberg30-05-2025
The state housing Nigeria's economic hub is engaging the European Union to develop inland waterways as part of an integrated urban-transport system intended to ease gridlock in Lagos, which is also its most populous city.
They are due to break ground on the €410 million ($464 million) project in June, the Lagos state government said in an emailed statement Friday.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US suspends visa processing in Zimbabwe, embassy says
US suspends visa processing in Zimbabwe, embassy says

Yahoo

timea few seconds ago

  • Yahoo

US suspends visa processing in Zimbabwe, embassy says

HARARE (Reuters) -The United States has stopped processing most visas in Zimbabwe until further notice, its embassy in the capital Harare said on Wednesday, citing unspecified concerns with the government. "We have paused routine visa services in Harare while we address concerns with the Government of Zimbabwe," the embassy said in a post on X. It said the move was not a travel ban and that current visas would remain valid. The government of the Southern African country did not immediately reply to a request for comment. The pause took effect on August 7, according to a notice on the U.S. State Department's website, which said it applied to all visa services with the exception of most diplomatic and official visas. U.S. President Donald Trump's administration has restricted travel from a number of African countries, saying it is working to prevent visa overstaying and misuse. Zimbabwe had a visa overstay rate of 10.57% in 2023, according to a U.S. Department of Homeland Security report. Starting this week, the U.S. will require visa applicants from Zambia and Malawi to pay bonds of up to $15,000 for some visitor visas. The Trump administration has also paused visa processing in Niger. Harare resident Angella Chirombo said her 18-year-old son had received a scholarship to do his bachelor's degree at Michigan State University and had been waiting for a visa interview when the pause hit. "He was supposed to be in school already. I paid for everything else and was waiting for the visa so I could buy tickets," she told Reuters. She said other parents were considering booking interviews at other U.S. embassies in Southern Africa, but that she wouldn't be able to afford the travel. "Now they are saying we can go to Zambia and Namibia. I don't even have money right now and I don't know where to get this money. They are so many students that have been affected." Solve the daily Crossword

Trump thinks owning a piece of Intel would be a good deal for the US. Here's what to know
Trump thinks owning a piece of Intel would be a good deal for the US. Here's what to know

Yahoo

timea few seconds ago

  • Yahoo

Trump thinks owning a piece of Intel would be a good deal for the US. Here's what to know

SAN FRANCISCO (AP) — President Donald Trump wants the U.S. government to own a piece of Intel, less than two weeks after demanding the Silicon Valley pioneer dump the CEO that was hired to turn around the slumping chipmaker. If the goal is realized, the investment would deepen the Trump administration's involvement in the computer industry as the president ramps up the pressure for more U.S. companies to manufacture products domestically instead of relying on overseas suppliers. What's happening? The Trump administration is in talks to secure a 10% stake in Intel in exchange for converting government grants that were pledged to Intel under President Joe Biden. If the deal is completed, the U.S. government would become one of Intel's largest shareholders and blur the traditional lines separating the public sector and private sector in a country that remains the world's largest economy. Why would Trump do this? In his second term, Trump has been leveraging his power to reprogram the operations of major computer chip companies. The administration is requiring Nvidia and Advanced Micro Devices, two companies whose chips are helping to power the craze around artificial intelligence, to pay a 15% commission on their sales of chips in China in exchange for export licenses. Trump's interest in Intel is also being driven by his desire to boost chip production in the U.S., which has been a focal point of the trade war that he has been waging throughout the world. By lessening the country's dependence on chips manufactured overseas, the president believes the U.S. will be better positioned to maintain its technological lead on China in the race to create artificial intelligence. Didn't Trump want Intel's CEO to quit? That's what the president said August 7 in an unequivocal post calling for Intel CEO Lip-Bu Tan to resign less than five months after the Santa Clara, California, company hired him. The demand was triggered by reports raising national security concerns about Tan's past investments in Chinese tech companies while he was a venture capitalist. But Trump backed off after Tan professed his allegiance to the U.S. in a public letter to Intel employees and went to the White House to meet with the president, who applauded the Intel CEO for having an 'amazing story.' Why would Intel do a deal? The company isn't commenting about the possibility of the U.S. government becoming a major shareholder, but Intel may have little choice because it is currently dealing from a position of weakness. After enjoying decades of growth while its processors powered the personal computer boom, the company fell into a slump after missing the shift to the mobile computing era unleashed by the iPhone's 2007 debut. Intel has fallen even farther behind in recent years during an artificial intelligence craze that has been a boon for Nvidia and AMD. The company lost nearly $19 billion last year and another $3.7 billion in the first six months of this year, prompting Tan to undertake a cost-cutting spree. By the end of this year, Tan expects Intel to have about 75,000 workers, a 25% reduction from the end of last year. Would this deal be unusual? Although rare, it's not unprecedented for the U.S. government to become a significant shareholder in a prominent company. One of the most notable instances occurred during the Great Recession in 2008 when the government injected nearly $50 billion into General Motors in return for a roughly 60% stake in the automaker at a time it was on the verge of bankruptcy. The government ended up with a roughly $10 billion loss after it sold its stock in GM. Would the government run Intel? U.S. Commerce Secretary Howard Lutnick told CNBC during a Tuesday interview that the government has no intention of meddling in Intel's business, and will have its hands tied by holding non-voting shares in the company. But some analysts wonder if the Trump administration's financial ties to Intel might prod more companies looking to curry favor with the president to increase their orders for the company's chips. What government grants does Intel receive? Intel was among the biggest beneficiaries of the Biden administration's CHIPS and Science Act, but it hasn't been able to revive its fortunes while falling behind on construction projects spawned by the program. The company has received about $2.2 billion of the $7.8 billion pledged under the incentives program — money that Lutnick derided as a 'giveaway' that would better serve U.S. taxpayers if it's turned into Intel stock. 'We think America should get the benefit of the bargain,' Lutnick told CNBC. 'It's obvious that it's the right move to make.' Michael Liedtke, The Associated Press

Easy Environmental Solutions Launches Terreplenish Trials in Tanzania, Opening Door to Multi-Unit Deployment
Easy Environmental Solutions Launches Terreplenish Trials in Tanzania, Opening Door to Multi-Unit Deployment

Yahoo

timea few seconds ago

  • Yahoo

Easy Environmental Solutions Launches Terreplenish Trials in Tanzania, Opening Door to Multi-Unit Deployment

MANKATO, Minn., Aug. 20, 2025 (GLOBE NEWSWIRE) -- Digital Utilities Ventures, Inc. (OTC: DUTV), operating as Easy Environmental Solutions Inc., today announced a strategic collaboration with the Tanzania Fertilizer Regulatory Authority (TFRA) to advance deployment of EasyFEN™ waste-to-fertilizer units across the country. Each EasyFEN™ unit is designed to transform agricultural waste into Terreplenish®, a proprietary organic microbial fertilizer, while supporting local manufacturing, food security, and agricultural independence. The initiative was reinforced during a high-level meeting in Nairobi between Bakry Osman, Director for Africa & the Middle East at Easy Environmental Solutions, and TFRA leadership, including Director Joel Laurent and Northern Zones Director Mr. Rwegoshora. The meeting also marked the launch of Terreplenish® lab and field trials in Tanzania, a milestone following earlier discussions with H.E. Hussein Mohamed Bashy, Tanzania's Minister of Agriculture. Mr. Rwegoshora, Mr. Laurent, Director of TFRA, Director of the Northern Zones at TFRA, Mr. Osman, Director for Africa and the Middle East at EES, and Ms. Kneale. Executive assistant for the Africa office The collaboration focuses on the potential of deployment of multiple EasyFEN™ Units throughout Tanzania to locally produce high-quality, affordable organic fertilizer at scale. By converting agricultural waste into Terreplenish®, EasyFEN™ technology offers farmers a local, sustainable alternative to imported synthetic fertilizers, reducing costs, restoring soil health, and building resilience against drought and climate pressures. Easy Environmental Solutions' engagement in Tanzania is part of a broader pan-African roadmap that includes building partnerships with governments, regulators, and agricultural stakeholders across more than ten countries, including Egypt, Uganda, Rwanda, South Africa, The Gambia, Nigeria, Ghana, Malawi, Botswana, Angola, and Zambia. This September, Easy Environmental Solutions will showcase its portfolio of sustainable agriculture and clean water technologies at the 37th Sahara International Agricultural Exhibition in Cairo, the largest agricultural exposition in the Middle East, engaging directly with policymakers, investors, and industry leaders. 'We are thrilled to be entering the Tanzanian market, which holds immense potential for agricultural transformation,' said Bakry Osman, Director for Africa & the middle east at Easy Environmental Solutions. 'The Ministry of Agriculture and TFRA have demonstrated exceptional vision and forward-thinking collaboration. Our immediate focus is Terreplenish®, enabling Tanzania to strengthen its soils and reduce reliance on imported fertilizer. At the same time, we continue to expand our broader technology portfolio, including innovations like Nano Void for clean water, to deliver lasting value across the continent.'A Tanzanian woman working in her maize field Turning Waste into WealthEach EasyFEN™ Unit processes up to 17,500 tons of organic waste annually, producing over 2.7 million gallons of Terreplenish®. With just two gallons of Terreplenish® per acre, farmers gain 45–60 lbs. of nitrogen and 15–20 lbs. of phosphorus, allowing each unit to treat 1.35 million acres (≈546,000 hectares) of farmland annually. Terreplenish®, validated by more than 100 independent studies and over a decade of field data, not only delivers nutrients but also: Restores soil biology Acts as a natural bio fungicide Reduces irrigation or rainfall needs by up to 20% Cuts dependence on costly synthetic imports By fostering local fertilizer production and embedding technology into self-sustaining community economies, Easy Environmental Solutions moves African nations toward true fertilizer sovereignty. For more information, visit About Digital Utilities Ventures, Inc. Digital Utilities Ventures, Inc. (OTC: DUTV), now doing business as Easy Environmental Solutions Inc., is an innovative company developing modular technologies to solve major world problems. With a strong goal for sustainability and efficiency, DUTV aims to provide solutions for various industries through its unique approach to manufacturing and technology development. Forward-Looking Statements This press release contains discussions that may constitute 'forward-looking' statements. Often these statements contain the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the United States Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. Contact: Mark K. Gaalswyk, CEO - Mark@ Carpenter – ncarpenter@ Osman – bakry@ 952-400-6045Email: info@ Photos accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store