….As Nigeria tops private equity/ venture capital investment ranking chart The European Investment Bank (EIB) in its latest annual survey of banks in Africa titled ‘Finance in Africa in 2022: Navigating the Financial Landscape in Turbulent Times’, has identified asset quality deterioration amongst the major challenges facing lenders in the continent. The EIB report […]
A new report by PriceWaterhouseCoopers (PwC), a global accountancy and auditing consulting firm, has estimated that Africa will require about $2.6 trillion to drive energy transition and bridge its widening energy gap over the next 30 years. The firm, in its latest ‘Africa Energy Review 2022’, indicated that the continent was not likely to achieve […]
The Board of Directors of the African Development Bank (AfDB) Group has approved an unfunded $75 million trade finance Risk Participation Agreement facility for FirstRand Bank Limited (FRB). The approved facility will enhance FRB’s ability to underwrite trade finance transactions originating from issuing banks in several countries, including transition states and low-income countries across Africa. […]
Lagos State Governor, Mr. Babajide Sanwo-Olu, has unveiled a 30-year development plan for Lagos State, which will be implemented between 2022 and 2052. The governor, who unveiled the plan at the closing ceremony of 9th Edition of Ehingbeti Lagos Economic Summit, also signed the Lagos State Wealth Fund (LSWF) Bill which will be sent to […]
The Lagos Chamber of Commerce and Industry (LCCI) has charged the Federal Government on the need to attract more investments in export infrastructure and other critical areas to sustain the nation’s balance of merchandise trade surplus in the years ahead. The President of the organized private sector (OPS) group, Dr. Michael Olawale-Cole, gave the charge […]
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission, Prof. Umar Danbatta, has said telecom infrastructure remains critical to successful conduct of the 2023 elections and solicited the support of every Nigerian in protecting the telecom assets for the benefit of the country. Danbatta, who made this remark as a special guest at the […]
Nigeria and Ghana’s Securities and Exchange Commissions have signed a renewed Memorandum of Understanding (MoU) in their joint efforts to strengthen market integration and create better opportunities for economic prosperity in the two countries and by extension, the West African subregion. Speaking during the signing ceremony in Accra at the weekend, Director General of the […]
……Proposes N20.51Trn Budget For Fiscal 2023 President Muhammadu Buhari said on Friday that oil subsidy would be discontinued in fiscal 2023 to ensure improved efficiency in public finance and enable the administration to commit savings from the subsidy to other critical sectors with huge potentials to ameliorate the current socio-economic hardships of ordinary citizens […]
The Centre for Promotion of Private Enterprise (CPPE), one of Nigeria’s private sector advocacy groups championing the cause of policy-driven economic policies and initiatives, has canvassed a 10-point strategic agenda needed to strongly position the nation’s economy on the path of sustainable growth in the years ahead. The Centre, in a Note signed by its […]
The Federal Inland Revenue Service (FIRS), the agency responsible for federally collectible revenue administration, has said that when governments deploy tax revenues for the common good of the citizens, there is a concomitant increase in tax compliance by citizens who see the direct benefit of the taxes they pay. The Executive Chairman of the Service, […]