The World Bank Group hinted on Tuesday of its plan to commit additional $750 million to improve access to electricity in Nigeria through the Nigeria Electrification Project (NEP). The bank’s Director of Strategy and Operations for Western Central African Region, Ms Elizabeth Huybens, made this disclosure while inspecting the 60 Kilowatts Mini Grid Project being […]
Budgeting
FX Policy: Telecom Operators Parley NCC Over Tariff Hike Plan
Mobile Network Operators (MNOs) in Nigeria have opened discussions with the Nigerian Communication Commission (NCC), the telecommunications sector regulator, for the purposes of reviewing upwards the current tariff rate for their services in view of the current macroeconomic realities in the country. A news report from The Punch quoted the President of the Association of […]
Nigeria’s Currency In Circulation Hits Record High Of N2.5Trn In May
The Central Bank of Nigeria (CBN) has reported that the currency in circulation surged to an all-year-high volume of N2.5 trillion in May 2023, representing 7.4% increase from the N2.3 trillion it reported was in circulation in January this year. The currency in circulation comprises currency outside the banking system and the vault cash of […]
World MSME Day – SMEDAN, Casava Insurance Launch ‘Business Gro’ For MSMEs
As part of its programmes for the World MSMEs Day 2023, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has partnered Casava Insurance, a risk underwriting company with special focus on agribusiness, to facilitate voluntary registration and certification of MSMEs under SMEDAN and provide valuable support services for registered MSMEs in the country. […]
Nigeria Can Leverage New Reforms To Achieve Growth – W/Bank
….says govt could safe N11trn from fuel subsidy removal by 2025 The World Bank Group has said that Nigeria can leverage the new reforms of the President Bola Tinubu-led administration to address her current macroeconomic imbalances. The Washington-based development finance institution made this remark during the launch of the June 2023 edition of the Nigeria […]
New Customs Comptroller-General Promises Sustained Reforms
….lists reform priorities The new Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has promised to continue with the reforms of his predecessor, Col. Hameed Ali (rtd), to further consolidate on the achievements recorded so far and further improve the operations of the Service in line with its statutory mandate, Adewale, made this pledge […]
Global Fossil Fuel Consumption Rises, Despite Green Projects
Despite intensive and sustained investment in the renewable energy by world leaders and commitment by international organizations to green projects, global appetite for fossil fuel is still growing. The latest annual ‘Statistical Review of World Energy Record’ showed that increases in solar and wind installations in 2022 failed to reduce the 82% share of fossil […]
Danbatta Receives Platinum Award For NCC’s Performance
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta at the weekend in Lagos, received the Platinum Award of the Nigeria Academy of Engineering (NAEng.) for his leadership roles in the telecom sector and its improving contributions to the nation’s economic growth. The President of the Academy, Prof. Azikiwe Onwualu, […]
IMF Announces $41Bn For Nigeria, Others’ Green Projects
The International Monetary Fund (IMF) has announced a new $41 billion under its Resilience and Sustainability Trust (RST) to support developing countries in their current drives towards mitigating climate threats through green projects. The IMF Managing Director, Kristalina Georgieva, made this disclosure during one of her presentations at the New Global Financial Pact Summit in […]
Experts Predict Bearish Momentum In NGX Trading Sessions
Analysts at Bancorp Securities Limited, a leading investment research and consulting services firm in Nigeria, have predicted a bearish momentum in the Nigerian equities trading sessions this week as profit- taking actions will predominantly define investors’ options. In the firm’s ‘Weekly Stock Recommendations Jun 26 – Jun 30, 2023’ sourced by BRTNews.ng on Monday, the […]