The Central Bank of Nigeria (CBN) governor, Yemi Cardoso, has approved the revised “Service Charter’’ of the apex bank. The service Charter is a requirement of the Business Facilitation Act 2022 for driving the ease of doing business in Nigeria, which mandates the apex bank to fully comply with the directives of SERVICOM on improvement […]
Political Economy
Nigeria Commits Over N1Trn Sukuk Fund To Infrastructure Projects – Yuguda
The Director-General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has listed some of the gains recorded since Nigeria committed to collaborating with the Islamic Financial Services Board (IFSB) as including improved funding of the nation’s infrastructure through Sukuk funds. Yuguda, in his keynote address at the First Annual SEC Nigeria-IFSB International […]
Italy Announces €5Mn Donation To Sustainable Energy Fund For Africa
Italy has made a new commitment of €5 million to Africa’s sustainable energy future through the Sustainable Energy Fund for Africa (SEFA) Special Fund. A news report from African Press Organisation (APO) Group circulated on behalf of African Development Bank Group (AfDB) quoted the Italian Deputy Minister of Environment and Energy Security, Vannia Gava, as announcing […]
NNPC Seals Two Gas Pacts At COP28
The Nigerian National Petroleum Company Limited (NNPCL) has signed two gas deals covering a floating liquefied natural gas deal and a small-scale LNG deal at the ongoing COP28 in Dubai, United Arab Emirate (UAE) According to the company, the deals were both for Domestic, and International Markets. There is an Agreement on 421 Tonnes Per […]
Zelensky Cancels US Senate Briefing Amid Funding Row
Ukrainian President, Volodymyr Zelensky, has called off a high-profile briefing with US lawmakers amid an impasse over future US funding for the country. Already, virtual appearances in the Senate and House had been scheduled for Tuesday, but were cancelled at the last moment after a top Ukrainian official warned they were in danger of losing […]
Inflation: Analysts Chart Surge Moderation Roadmap For FG
As anxieties continue to mount over Nigeria’s rising inflation rate associated largely to spiking food prices, economists at the Centre for the Study of the Economies of Africa (CSEA), a leading Afro-focused economic research and consulting firm, have charged the governments to commit more resources to agricultural programmes and adopt other fiscal measures to reduce […]
Aon Partners AfDB, Amini To Support African Farmers
Aon, a global re/insurance brokerage firm, has announced its partnership with the African Development Bank (AfDB), and Amini, an innovator in space technology and artificial intelligence, to increase crop insurance capacity across Africa, support smallholder farmers’ resilience and accelerate the use of nature positive practices. The partnership is also expected to help in reducing supply […]
Traders Caution On NNPCL’s Proposed Crude Supply Pricing Risks
Apparently worried by the risks of the plans by the Nigerian National Petroleum Company Limited’s (NNPCL’s) to commence pricing crude supplies against dated Brent crude from next year, oil traders have opposed the proposed pricing regime, especially based on the potential negative implications for their investments in the oil industry. The state-owned company had on […]
FG Seeks N35Bn To Revitalize Moribund Ajaokuta Steel Firm
…..Proposes N4.5Bn Allocation To Firm In 2024 Fiscal Year The Minister of Steel Development, Shuaibu Audu, has initiated moves to source N35 billion from financial institutions to revive the moribund Ajaokuta Steel Company. Audu, in a statement on the latest funding move by the government issued by the ministry’s Chief Information Officer, Tine-Iulun Maureen, was […]
NBS, States, LGs To Collaborate On Data Production, Dissemination
The National Bureau of Statistics (NBS), has advocated the need for effective collaboration between it, states and local governments to ensure that data production and dissemination mechanisms are comprehensive and reflective of the diverse programmes and activities at federal and subnational levels. The Statistician-General of the Federation and Chief Executive Officer (CEO) of the statistics […]