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Nigeria’s AFEX Expands Operations To Kenya With $1Mn Loan Package

Nigeria’s commodities exchange, AFEX, has expanded its operations to Kenya, following a successful pilot phase in the East African country. To support the expansion initiative with funding, AFEX Fair Trade Limited (AFTL), has launched a $1 million loan programme that will allow farmers to gain access to seed and fertilizer for their crops and by […]

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Parallel Market’s Exchange Rates Hampering Nigeria’s Trade Balance Efforts – IMF

The International Monetary Fund (IMF) has said that efforts to address Nigeria’s merchandize trade imbalances are not achieving the desired results due to Foreign Exchange (forex) strains relating to exchange rate premiums in the nation’s parallel market. The Fund made this disclosure during its staff meetings with the Nigerian authorities from June 6-10, 2022, to […]

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AfreximBank Canvasses Improved Intra-African Trade, Financing

African Export-Import Bank (Afreximbank), one of Africa’s multilateral finance institution, has advocated the need for increase in intra-African trade and financing based on the continent’s abundant youth and technology resources. The President/Chairman of the Board of Directors of the bank, Prof. Benedict Oramah, gave this charge to African governments in his opening remarks during the […]

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BPE Will Assist Correctional Service On PPP Projects’ Implementation – Okoh

The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, has promised that Bureau would deploy its expertise to assist the Nigerian Correctional Service (NCoS) in its efforts to develop some key projects through Public Private Partnership (PPP) arrangement. Some of the projects include, cattle ranching and dairy processing factories in three […]

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BPE Clarifies FG’s Concession Of Calabar, Kano FTZs

The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh has clarified why Federal Government decided to concession the Calabar and Kano Free Trade Zones (FTZs), saying that the initiative will catalyse businesses in the West African sub-region through strategic production of goods and services in order to optimize the vast potential […]

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BPE Tasks Coal Blocks’ New Investor To Optimize Assets’ Potential

The Bureau of Public Enterprises (BPE) has charged Orbit Exploration and Natural Products Limited (OENPL), the new investor in Ogboyega North and South coal blocks, to justify the Federal Government’s  high expectations to  optimize  the coal blocks. The Director General of the Bureau, Mr. Alex Okoh, gave this charge when the asset title of  the […]

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NEPZA Mulls Free Zones’ Space For Blockchain Tech, Crypto Firms

The Nigerian Export Processing Zones Authority (NEPZA) has hinted on its plans to create free zones space to blockchain tech and crypto currency operations in the country. The NEPZA’s Managing Director, Prof. Adesoji Adesugba, made this disclosure when he hosted delegates of two blockchain companies on visit to his office to make submissions on their […]

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Nigeria’s Merchandize Trade Value Up 11.79% In Q4, 2021

Nigeria’s total merchandise trade value rose to N11,707.20 billion in the fourth quarter (Q4) of 2021, representing 11.79 percent higher than the value recorded in Q3, 2021, totalling N10,472.42 billion. Briefing journalists on the key highlights of the merchandise trade in the quarter under review at the ‘Statistics House’ in Abuja, the Statistician General of […]

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CPPE Urges FG To Suspend Excise Duty On Manufacturers

The Centre for the Promotion of Private Enterprise (CPPE), one of Nigeria’s private sector advocacy groups, has appealed to the fiscal authorities to suspend the proposed excise duty on manufacturers in view of the fiscal and other challenges manufacturers are currently grappling with in the country. The Centre’s Chief Executive Officer, Dr. Muda Yusuf, in […]

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BPE Issues Discharge Certificates To 3 Privatized Firms

The Bureau of Public Enterprises (BPE) has issued discharge certificates to three privatized enterprises which were earlier de-listed from monitoring activities by the Bureau. The companies are, Cement Company of Northern Nigeria (CCNN) located in Sokoto State; Federal Superphosphate Fertilizer (FSFC), Kaduna State and Ikoyi Hotels Ltd. (Southern Sun), Lagos State. Presenting the certificates to […]