….To Sell 100 Trucks of Rice at Affordable Prices Ogun State has purchased 100 trucks load of rice to be sold at cheaper rates to residents of the state to cushion the effect of the rise in the prices of goods in the country. The state governor, Prince Dapo Abiodun, disclosed this measure on Wednesday […]
Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the fourth quarter of 2023, lower than the 3.52% recorded in the corresponding quarter of 2022, the National Bureau of Statistics (NBS) reported on Thursday. The Bureau, in its ‘Nigeria Gross Domestic Product Q4 2023’ report published on its website, however, stated […]
Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, will on May 14-15 this year speak at the Invest in African Energy (IAE) forum scheduled for France to outline investment opportunities in Nigeria’s gas sector, drawing attention to exploration prospects and infrastructure requirements. The IAE 2024 is an exclusive forum designed to facilitate investment […]
Gallagher Re, a reinsurance broker, anticipates a surge in investments in cyber catastrophe bonds in 2024, following the successful launch of Polestar Re Ltd. (Series 2024-1) in December 2023. PoleStar Re was the first full 144A cyber catastrophe bond for specialty re/insurer Beazley. Gallagher Securities’ served as the sole structuring agent and bookrunner, with support […]
….Initiates Moves On Automation Of BDCs The Association of Bureaux De Change Operators of Nigeria (ABCON) has described the ongoing clampdown on and arrest of illegal foreign exchange (FX) dealers across the country as a welcome development capable of improving the efficiency of the FX operations in the parallel and official markets. The National President […]
The National Palm Produce Association of Nigeria (NPPAN) has hinted of plans by the Federal Government to sign a Memorandum of Understanding (MoU) with the Malaysian Government as part of its sustained efforts marking to develop palm biomass in the country. The President of the association, Ambassador Alphonsus Inyang, was quoted as making this disclosure […]
The Senate on Wednesday appealed to the Executive arm of government to sustain the electricity subsidy regime amid ongoing hardships in the country as a means of averting a further escalation of the sundry micro and macroeconomic whirlwinds in the economy. The Red Chamber’s decision followed the deliberation and endorsement of a motion in a […]
The National Bureau of Statistics (NBS) reported on Wednesday that average retail price per litre of Household Kerosene (HHK) paid by consumers in January was N1,329.53, representing a decline of 2.40% compared to N1,362.27 paid by them in December 2023. The Bureau, in its ‘National Household Kerosene Price Watch (January 2024)’ hoisted on its website, […]
European insurance industry leaders are doubling their digitalisation drive to enhance customer experiences and streamline operations in the face of looming recession threats to their economies. According to a recent survey conducted by Information Services Group (ISG), titled ‘Pulse Check – State of the European Insurance Industry’ conducted in the fourth quarter of 2023, nearly […]
Researchers at the Centre for the Study of the Economies of Africa (CSEA), an economic research think-tank with primary focus on developments in Africa’s economies, have canvassed a three-point strategic policy measures for the Federal Government to implement in order to shore up Nigeria’s foreign reserves. The analysts, in the firm’s ‘Nigeria Economic Update Issue […]