The Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba and his Oil and Gas Free Zones Authority’s (OGFZA’s) counterpart, Sen. Tijjani Kaura, have reported that the two free zones attracted about $46.6 billion investments into the country since they commenced operations. The FTZs supervisory CEOs made this disclosure at the […]
The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s statistical system, on Wednesday reported that prices of selected food items increased in October as the average price of 1kg onion bulb, increased on a year-on-year basis by 32.56 percent from N306.07 recorded in October 2021 to N405.72 in the month under review. The […]
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has disclosed that the apex bank had paid N81 billion in rebates to Nigerian exporters to support their export-oriented businesses as a monetary policy step towards improving the nation’s foreign exchange earnings. Emefiele made this disclosure on Tuesday in his keynote address at […]
Nigeria’s leading economist and development expert, Prof. Pat Utomi, has charged African governments to prioritize entrepreneurship, especially the Micro, Small and Medium Enterprises (MSMEs), through appropriate policy frameworks and other supportive initiatives in order to explore the opportunities availed by the African Continental Free Trade Area (AfCTA) agreement for sustainable growth of their economies. Utomi, […]
The Centre for the Promotion of Private Enterprise (CPPE), a leading consultancy championing advocacy for improved environment for the nation’s organized private sector (OPS) has charged the Federal Government to adopt policy measures and other initiatives to fix the nation’s economy. The group, in a statement issued by its Chief Executive Officer, Dr. Muda Yusuf, […]
A new report by the African Development Bank (AfDB), the African Union (AU) and the United Nations Industrial Development Organization (UNIDO) has revealed that Nigeria, commonly rated as the ‘Giant of Africa’, did not rank among the fast-growing industrial countries in Africa. The just published Africa Industrialization Index (AII) report indicated that 37 out of […]
Following the success of the MultiChoice Africa Accelerator Programme which debuted in South Africa last year and secured $16 million of funding for six emerging businesses, the promoters of the programme has launched its extension to Nigeria and seven other countries across Africa in 2023. The other countries, whose technology-oriented Micro, Small and Medium Enterprises (MSMEs) […]
The National Bureau of Statistics (NBS) on Thursday reported that Nigeria’s Gross Domestic Product (GDP) grew by 2.25% (year-on-year) in real terms in the third quarter of 2022, representing 1.78% points decrease from the 4.03% growth rate recorded in Q3 2021 The Q3 GDP growth rate reflected a 1.29% points decline relative to 3.54% growth […]
The World Bank Group has rated Nigeria’s fiscal system, in terms of revenue generation and inefficient use of resources, among the lowest globally and canvassed the need for the Nigerian governments to embark on macroeconomic and fiscal reforms to lift Nigeria’s development outcomes. The Washington D. C-based development finance institution’s latest position on the nation’s […]
The Centre for the Promotion of Private Enterprise (CPPE), a leading organized private sector advocacy groups in the country, has advised the Federal Government on sundry areas requiring its intervention in order to frontally tackle the surging inflation rate in the country. The Founder/Director General of the group, Dr. Muda Yusuf, in a statement issued […]