TradeMark East Africa, one of the world’s leading aid for trade organisations, has today rebranded to TradeMark Africa (TMA) and simultaneously officially launched its West Africa operations. Founded in 2010 in Kenya, today marks TradeMark Africa expansion from its previous core operational area of East Africa and the Horn, to also support countries in West […]
After weeks of mounting tension in the public following the Central Bank of Nigeria’s (CBN’s) insistence that its January 31 deadline set for the full withdrawal of old N200, N500 and N1,000 from circulation remains sacrosanct, the apex bank on Sunday disclosed that President Muhammadu Buhari had approved the extension of the deadline to 10 […]
The UK Government has estimated that following the latest downward review of tariffs and extended duty free trade in goods exported from Nigeria to United Kingdom, Nigeria will yearly save over £750 million in export charges. The UK Deputy British High Commissioner to Nigeria, Mr. Ben Llewellyn-Jones, who made this disclosure during the launch of […]
The Naira recovered from the Tuesday’s exchange rate value loss for the US dollar at the black market, trading in the early hours of Wednesday at an average of N750/$1, representing a 0.40% appreciation from the N753/$1 it exchanged at during the previous day’s trading session. Some black market traders attributed the gain by the […]
The African Development Bank (AfDB) has projected that Africa is set to outperform the rest of the world in economic growth over the next two years, with real gross domestic product (GDP) averaging around 4% in 2023 and 2024. The leading development finance institution in Africa gave this forecast in its ‘Africa’s Macroeconomic Performance and […]
The International Monetary Fund (IMF), one of the global multilateral finance institutions, has reported that about 15% of low-income countries (LICs) are trapped in debt distress while 45% of the population faces high risks of indebtedness as rising restrictions continue to constrain global economies. The development finance institution made this projection in a new report […]
Nigerian Breweries Plc, one of Nigeria’s bottled drinks manuacturing companies, has launched its Series 1, 2, and 3 commercial papers under its N100 billion commercial paper programme. The Company Secretary, Barr. Uaboi Agbebaku, stated that the commercial papers were launched on Wednesday, and would last for 91 days, 120 days, and 154 days, respectively. According […]
The Lagos Chamber of Commerce and Industry (LCCI), one of Nigeria’s leading private sector advocacy groups, has set some key fiscal and other policy measures for the Federal Government to adopt in its current efforts to keep the nation’s economy on the path of sustainable growth this year. The group, in its ‘New Year Statement […]
….as Kerosene price rises 145.68% year-on-year The National Bureau of Statistics (NBS) has reported that the average retail price paid by consumers for Premium Motor Spirit (Petrol) for November 2022 was N202.48, indicating a 29.81% increase when compared to the value recorded in November 2021 (N167.60). The Bureau, in its latest ‘Premium Motor Spirit […]
Shareholders of Dangote Cement Plc on Tuesday authorized the company’s board and management to undertake a share buyback of up to 10 percent of its issued shares, effective from the date of the resolution. The company had earlier indicated an interest in undergoing a share buyback programme of up to 10 percent of its issued […]