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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
The Nigerian National Petroleum Company Limited (NNPCL) has expressed interest in the acquisition of the power plants put up for sale by the Federal Government through the Nigeria Integrated Power Plants (NIPPs). The company’s Managing Director, Mallam Mele Kyari, who disclosed this when he led top management team of the entity on a courtesy visit […]