The Federal Executive Council (FEC) has approved an Operation and Management concession for the 360 megawatts Gurara II Multipurpose Dam & Hydro Power Plant and the 40 megawatts Kashimbilla Hydro Power Plant under a Public-Private-Partnership (PPP) model with a projected revenue target of N647.7 billion from the deal. The approval by the FEC was sequel […]
The International Monetary Fund (IMF) has projected that Nigeria and other countries could lose an estimated $10 billion of foreign direct investment and official development assistance inflows to geo-political tensions. The IMF made this projection in its Country Focus on Sub-Saharan Africa (SSA) report published on Monday, indicating that the figure represented about a half […]
The National Bureau of Statistics (NBS) reported on Saturday that Nigeria’s inflation rate rose to 22.04% in March this year, from the 21.91% recorded in February, representing a 0.13% points rise month-on-month. In its just published’ ‘Consumer Price Index (CPI)’ report, the Bureau indicated that on a year-on-year basis, the March 2023 headline inflation rate […]
The Federal Government has set a target of $500 million foreign exchange (FX) earnings from cashew nuts exports from the country in 2023, representing about 50% increase earned from the commodity’s exports in 2022. The Executive Secretary of the Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, who made this projection during an interview with […]
The Federal Government on Tuesday announced that it had approved the Ekiti Knowledge Zone (EKZ) as a Free Trade Zone (FTZ) as part of its current efforts to create more jobs, improve the performance of the non-oil sector of the nation’s economy and by so doing, enhancing the nation’s foreign exchange (FX) earnings. The Special […]
Nigeria Customs Service (NCS) Apapa Area Command on Tuesday disclosed that it raked in N212.592 billion revenue in the first quarter of financial year (FY) 2023. The Apapa Area Controller, Comptroller Auwal Mohammed, disclosed that during the quarter, a total of 110,448 metric tonnes of exports, comprising processed agricultural items such as sesame seeds, ginger, […]
AFOS Foundation, a Germany-based autonomous and charitable foundation developed to support micro and small businesses and the rising middle class in developing and emerging nations, is strengthening the Nigerian agricultural sector by improving the performance of small farmers, agricultural companies, microfinance banks (MfBs), as well as their networking across the sector’s value chains. Speaking on […]
The Nigerian Meteorological Agency (NiMet) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) for the purposes of improving agricultural productivity in food and by implication, ensure food security in the country. The terms of the agreement indicated that farmers would receive weather forecasts through the meteorological agency to guide […]
The African Development Bank (AfDB) has signed a €362,000 grant agreement with Hadejia Jama’are Komadugu Yobe Basin-Trust Fund to prepare additional studies under the second phase of developing a strategic plan for managing water resources in the Komadugu-Yobe Basin in Northern Nigeria. Specifically, the grant will support the preparation of a Resettlement Action Plan (RAP) […]
The Central Bank of Nigeria (CBN) on Tuesday disclosed that disbursements to farmers and beneficiaries in the agricultural value chain under the Anchor Borrowers Programme (ABP) this year stood at N12.65 billion. The apex bank governor, Mr. Godwin Emefiele, made this disclosure when briefing journalists of the decisions taken during the 290th Monetary Policy Committee’s […]