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Consumers Paid More For Food Items In August – NBS

….as S/East, South-South consumers paid highest for beans, bread   The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s statistical system, reported on Saturday, September 24, that consumers paid more for selected food items in August, reflecting the  rising inflation rate in the economy. The Bureau, in its latest ‘Selected Food Prices Watch […]

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Nigeria’s Inflation Hits 20.5% In August, Highest In 17 Yrs

The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s national statistics system, has reported that Nigeria’s Composite Price Index (CPI), which measures inflation rate, surges to 20.5 percent in August this year, representing the highest rate since September 2005. According to the Bureau in its latest ‘Consumer Price Index (CPI) report’ published on […]

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Africa Loses 15% Of GDP To Climate Change – AfDB Chief

The African Development Bank’s (AfDB’s) Acting Chief Economist and Vice President, Prof. Kevin Urama, has said that Africa is losing between five percent to 15 percent of its Gross Domestic Product (GDP) per capita growth to climate change and its negative impacts on the countries in the continent. Urama, was quoted in a statement posted […]

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Agriculture Holds Huge Potential For Nigeria’s Forex Accruals, Growth

The Group Managing Director of the Nigerian Exchange Group Plc (NGX Group), Mr. Oscar Onyema, has said that the agricultural sector holds huge potential for Nigeria in terms of generating the much-needed foreign exchange for sustainable development of the country. Onyema, who made this remark at the 26th Annual Chartered Institute of Stockbrokers’ conference held […]

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Agriculture Key To Achieving Nigeria’s Economic Diversification Goals – Yuguda

The Director General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has described the agricultural sector as key to current efforts by the Nigerian government diversify the nation’s economy in view of the sector’s job creation and other socio-economic benefits. Yuguda made this remark at the 26th Annual Stockbroker’s Conference with the […]

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NIRSAL MFB Issues Final Demand Notice To ABP Loan Defaulters

NIRSAL Microfinance Bank Limited (NMFB) on Tuesday issued a final demand notice to defaulting beneficiaries of the Anchor Borrowers Programme (ABP) loans disbursed by it, warning that failure to offset their outstanding debts will lead to serious consequences. The MfB’s management, in a statement, indicated that the final demand notice was sequel to the Central […]

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EIB President Supports Africa’s Climate Adaptation Projects

European Investment Bank (EIB) has expressed its readiness to collaborate with African governments on accelerating climate adaptation in the continent. The EIB President, Werner Hoyer, made the promise at the Africa Adaptation Summit, the first-ever global summit to focus solely on accelerating climate adaptation in Africa organized by the Global Center on Adaptation (GCA), in […]

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Africa Needs $127Bn Yearly For Climate Change Financing Gap – Adesina

The President of African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has projected that Africa would require between $100 billion to $127 billion yearly between now and  year 2030 to bridge climate change financing gap in the continent. The AfDB President, who gave these figures on Monday in his paper delivered at the Africa Climate […]

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NEPZA, FX Binance Parley On Virtual Free Zone In Nigeria

The Nigeria Export Processing Zones Authority (NEPZA) on Monday disclosed that it had opened discussions with crypto exchange, FX Binance, for the purposes of creating a virtual free zone for blockchain development in the country. The authority’s Managing Director, Prof. Adesoji Adesugba, was quoted as confirming that already preliminary meetings with the cryptocurrency exchange team […]

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Nigeria’s GDP Surges To 3.54% In Q2 2022

The National Bureau of Statistics (NBS), Nigeria’s national statistical system coordinating agency, has reported that the nation’s gross domestic product (GDP) grew by 3.54% year-on-year in real terms in the second quarter of 2022. According to the ‘Nigerian Gross Domestic Product Report Q2 2022’ published by the Bureau on Friday, Q2 growth rate represented an […]