Indications that current hardships of millions of Nigerians associated with the rising costs of foods, transportation and other basic needs may not abate soon were further validated on Wednesday as the Naira depreciated to an all-time record low of N1,100 to the US dollar at the black market. Investigations by our correspondent at some foreign […]
Global Multilateral Development Banks (MDBs) have reported that in 2022, they committed new record of $60.7 billion to climate finance in low-income and middle-income economies, representing an increase of 46% compared to 2019 investments. A new joint report by the MDBs indicated that out of the amount, $38.0 billion, or 63% was committed to climate […]
Africa Finance Corporation (AFC), the continent’s leading infrastructure provider, and the Solid Minerals Development Fund of Nigeria (SMDF), a Nigerian mining-focused development fund, have partnered aimed at de-risking Nigeria’s mining sector and scaling up artisanal mining activities in the country to an industrial level. The strategic collaboration, which was formalized on Tuesday at the sidelines […]
The Vice Chairman of Basic Metal Sector of the Manufacturers Association of Nigeria (MAN), Mr. Lekan Adewoye, has described the new CBN policy directive removing the restriction on foreign exchange (FX) access to 43 items for imports as undesirable for struggling manufacturing industry businesses. The industrialist made this remarks during an interview on TVC Business […]
The newly appointed Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, said on Tuesday that he would align the Commission’s regulatory focus to achieve President Bola Tinubu’s agenda to advance the nation’s digital transformation drive. Maida, who made this pledge during his meeting with the Senior Management team of the […]
…..As World Bank Expresses Support For Initiative The Federal Government has launched the conditional cash transfer programme targeted at 15 million households nationwide, which are to receive N75,000 each within three months. The Secretary to the Government of the Federation, Sen. George Akume, who represented President Bola Tinubu during the launching of the programme on […]
…..Targets $2Bn Carbon Investments The Niger Delta Development Commission (NDDC) on Tuesday unveiled plans to unlock $2 billion carbon investment in the Niger Delta region using solar power as part of the management’s wider strategy to ensure power supply to communities in the region. The commission’s Managing Director, Dr. Samuel Ogbuku, who was quoted in […]
The Alternative Bank, a new entrant to the non-interest banking industry, has announced its plans to empower its customers and foster financial growth through interest free credit. The bank also is offering a revolutionary Free Credit Line programme, which will enable its customers to access up to 10% of their monthly turnover at zero interest […]
The Nigerian Electricity Regulatory Commission (NERC) reported on Tuesday that electricity distribution companies (DisCos) recorded 95.21% market remittance in the second quarter of 2023, representing the highest remittance by them so far. The Commission, in its just published ‘Electricity on Demand; report, indicated that the combined upstream bill that DisCos were expected to pay totalled […]
BudgIT, a civic-tech organization at the forefront of advocacy for fiscal transparency and accountability in Nigeria, has launched the 2023 edition of its annual States of States report with the theme ‘Subnational Healthcare Delivery for Improved Economic Development’. One of the key findings of the report showed that both the national and subnational governments continued […]