The Federal Government on Tuesday met with a consortium of financial institutions that had expressed interest in providing funds towards the completion of the 284 +103km Kano-Maradi rail project. Receiving representatives of the Take-Out facilities Lenders for the Kano-Katsina-Jibiya-Maradi (Niger Republic) Single – Track Standard Gauge Railway project in the Ministry of Transportation in Abuja, […]
Tag: Economic Community of West African States (ECOWAS)
Hope Dims On ECOWAS Single Currency, As Assessment Rating Ebbs
Despite sustained efforts by West African governments to introduce a single currency for cross-border transactions in the sub-region, indications have shown that the quest for a single currency regime by them is becoming a herculean task in terms of performance assessment. The West African Monetary Zone (WAMZ) Director- General, Dr. Olorunsola Olowofeso, on Friday expressed […]
Analysts Forecast Bearish Momentum In Nigeria’s Equities Market
As the domestic and foreign policies of the Federal government will characterize investment activities this week, investment researchers at Bancorp Securities Limited, a leading investment research and consulting services firm in Nigeria, has projected a bearish momentum in the nation’s equities market. The analysts, who made this projection in the firm’s ‘Weekly Stock Recommendations: July […]
LCCI Urges Tinubu On Adoption Of Eco Currency, Fiscal Efficiency
The Lagos Chamber of Commerce and Industry (LCCI) has advised President Bola Tinubu to use his leadership of the Economic Community of West African States (ECOWAS) to facilitate the implementation of the proposed common currency – ‘eco’ – for the sub-region. The President of the organized private sector (OPS) group, Dr. Michael Olawale-Cole, in a statement released on Tuesday said the […]
NNPCL, Others Seal MoU On Nigeria-Morocco Gas Pipeline Project
The Nigerian National Petroleum Company Limited (NNPCL) on Friday signed four Memoranda of Understanding (MoU) with Office National des Hydrocarbures et des Mines (ONHYM) and four national oil companies in a strategic move to achieve the Nigeria-Morocco Gas Pipeline project’s objectives for sub-regional countries’ economic benefits The parties to the deal reaffirmed their commitment on […]
World Bank Approves $460Mn To Enhance West/Central Africa’s Statistical Systems
The World Bank Group has approved US$460 million in credits and grants from the International Development Association (IDA) to improve and harmonize data systems in eight countries in Western Africa and three regional organizations. According to the Washington D.C-based development finance institution, the Harmonizing and Improving Statistics in West and Central Africa (HISWACA) Project, Phase […]
Nigeria’s Public Debt Stock Surges To N46.25Trn – DMO
The Debt Management Office (DMO) on Thursday reported that Nigeria’s total public debt stock rose to N46.25 trillion (about $103.11bn) as of December 2022, representing an increase of N6.69 billion when compared to the N29.56 trillion (about $95.77 billion) as of the end of December 2021. The DMO in a statement indicated that the debt […]
TradeMark Africa Extends Operations To Ghana, Others
TradeMark East Africa, one of the world’s leading aid for trade organisations, has today rebranded to TradeMark Africa (TMA) and simultaneously officially launched its West Africa operations. Founded in 2010 in Kenya, today marks TradeMark Africa expansion from its previous core operational area of East Africa and the Horn, to also support countries in West […]
ADF Board Approves $2Mn Grant For ECOWAS’ Electricity Reforms
The Board of Directors of the African Development Fund (ADF) has approved a technical assistance grant of $2 million to fund research that will contribute to electricity reforms in the Economic Community of West African States (ECOWAS). The approved grant, which is the concessional window of the African Development Bank Group (AfDB), will be paid […]
AfDB, ECOWAS Seal $3.56mn Mou To Boost Sub-Regional Pharma Industries
The African Development Bank (AfDB) and the Economic Community of West African States (ECOWAS) have signed a memorandum of understanding (MoU) for $3.56 million in grant funding to support the development of pharmaceutical industries in West Africa. The Managing Director of the Bank for Nigeria, Lamin Barrow, and ECOWAS Commissioner in charge of Industry and […]