Ogun State Government and Arise Integrated Industrial Platform (AIIP), at the weekend stated that they had opened discussions on the modalities for the establishment of a parking facility for containers and trailers within the premises of the Special Agro Processing Zone (SAPZ). The company’s Vice President and Country Head, Suren Abeywickrema, gave this hint while […]
The United States Agency for International Development (USAID) has committed $3 million to the African Water Facility (AWF) to support the preparation of water and sanitation investment projects in the continent through the provision of grants and technical assistance to African countries and regional economic communities. The African Development Bank (AfDB), which gave this hint […]
The Manufacturers Association of Nigeria (MAN) has said that the latest foreign exchange (FX) policy by the monetary authorities will further increase operational costs for businesses and trigger exchange rate volatility due to uncertainties about future exchange rate trend. The Director-General of the association, Mr. Segun Ajayi-Kadir, who made this remark during a media chat, […]
The Centre for the Promotion of Private Enterprise (CPPE), one of the leading organized private sector (OPS) advocacy groups, has canvassed key fiscal, monetary and policy reform initiatives that the new President Bola Ahmed Tinubu-led administration should prioritize in its reform agenda to ensure improved socioeconomic well-being for the citizenry and sustainable growth of the […]
The Nigerian Communications Commission (NCC)) has reported that the telecommunications and information services sector generated N2.508 trillion as revenue to the federation account in the first quarter 2023, representing 14.13% to the nation’s gross domestic product (GDP) during the quarter. Data released by the National Bureau of Statistics (NBS) showed that the sector recorded a […]
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 […]