The African Development Bank (AfDB) President, Dr. Akinwumi Adesina, has said that Africa is endowed with necessary partnerships and technologies to eradicate hunger and that what is needed is action and adequate funding of the agriculture sector across the continent. Adesina made this remark during the opening session of the 8th Africa Agribusiness and Science Week […]
Nigeria’s total merchandise trade grew to N12,046.92 billion in the first quarter (Q1) this year, with the total exports peaking at N6,487.04 billion while the total imports amounted to N5,559.88 billion. The National Bureau of Statistics (NBS) in its ‘Foreign Trade in Goods Statistics (Q1 2023)’ published on Monday indicated that the country’s merchandise trade […]
The National Bureau of Statistics (NBS) reported on Wednesday that the nation’s Gross Domestic Product (GDP) grew by 2.31% (year-on-year) in real terms in the first quarter of 2023. The Bureau, which is Nigeria’s statistical system coordinating agency, in its just published ‘Nigeria Gross Domestic Product Q1 2023’, disclosed that the Q1 2023 growth rate […]
The Central Bank of Nigeria (CBN) has revoked the licences of 132 Microfinance Banks (MFBs), three four Primary Mortgage Banks (PMBs) and two other finance companies in furtherance of its regulatory roles in the nation’s financial system. The revocation of the licensed MFBs and other financial institutions (OFIs) licences was contained in a gazetted circular […]
The President of African Development Bank (AfDB), Dr. Akinwumi Adesida, has decried the lack of adequate financing for tackling climate change in Africa, saying that paucity of funds is “choking” the continent. Adesina, who made this remark on Monday while addressing journalists at a media lunch organized to kick off the bank’s 2023 Annual Meetings […]
AFOS-NIG INGO, a German non-governmental organisation providing technical supports to Small and Medium Enterprises (SMEs) and agribusiness owners in Nigeria, has charged famers, agribusiness owners and microfinance banks in the country to adopt global best practices as a strategic step towards overcoming their current challenges, improving their earnings, and contributing more to the nation’s Gross […]
AFOS-NIG INGO, a German NGO, has organised a nine-day exposure visit to Germany for its development partner-institutions as well as other stakeholders within the Nigerian agricultural sector. This is contained in a statement issued on Monday by the Foundation’s Chief Executive Officer and Country Representative, Mr. Oladipupo Akoni. AFOS is an NGO providing technical support […]
Nigeria’s headline inflation rate rose to 22.22% in April 2023, representing 0.18% points higher than the 22.04% recorded in the preceding month. According to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS) published on Monday, the inflation rate in April indicates that the CPI has increased for the fourth consecutive […]
The Nigeria Sovereign Investment Authority (NSIA), the manager of Nigeria’s sovereign wealth fund and the National Council on Climate Change (NCCC), signed a Memorandum of Understanding (MoU) in furtherance of the collective efforts to mitigate climate change impacts on the country. The MoU, which was signed by the NSIA’s Managing Director/CEO, Mr. Aminu Umar-Sadiq, and […]
The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, at the weekend charged African governments to remove all trade barriers, especially cost-related ones, in order to optimally explore the opportunities in the African Continental Free Trade Agreement (AfCTA) for national development. The foremost economist noted that the high costs African exporters were experiencing […]