78 Initiatives are Prioritized by the FG to Change the Food System.
The Federal Government has identified 78 priority measures that, when completed, will overhaul the entire food system, from farm to…
Month: June 2023
Dollar Trades at A Discount Against Naira in Black Market.
The naira is trading higher on the black market for the first time since 2015, exactly one week after the…
FG and Others Share N2.84 trillion in FAAC.
In the first four months of this year (January to April), the Federal Government (FG), 36 States, and 774 Local…
Food Export Rejection: Nigeria Sets Up Quality Center, Attempts To Reverse N539 Billion Losses
In December 2022, Prof. Benedict Oramah, the chairman of the African Export-Import Bank (Afrixembank), revealed that Nigeria lost an estimated…
Leading Imports Include Wheat, Sugar, and Petroleum Goods.
Despite the limited access to petroleum products that Nigerians had in the first quarter of 2023 (Q1’23), With a total…
FGN Bonds’ Value Decreased by 93.2% to N183 billion.
In comparison to the same period in 2022, the value of listed Federal Government of Nigeria bonds on the Nigerian…
States start the process of establishing utility commissioners under the Electricity Act of 2023.
There are significant signs that the state governments, which are considered to be federating units under the constitution, may have…
Removal of Subsidies: NEITI Investigates Gasoline Usage Data.
Despite the criticism to the action, the Federal Government shouldn’t reverse its decision to end subsidies on Premium Motor Spirit,…
Nigeria’s Exports Increase to N42 trillion as a Result of the Naira’s Depreciation.
After the Central Bank of Nigeria floated the naira, the value of Nigeria’s exports might increase to at least N41.99…
UK to Lower Import Taxes on Nigerian Goods.
The UK has stated that it is prepared to lower tariffs on goods coming from Nigeria and other emerging nations.…
Operators Attribute Airfare Increase to Currency Fluctuations and a Shortage of Aviation Fuel.
The recent increase in airfares was caused by a paucity of foreign currency and aviation fuel, according to the Airline…
Eze, a YC-backed Wholesale Electronics Marketplace, Raises $3.7 million.
Eze, a B2B electronic goods marketplace, raises $3.7 million. Right Side Capital Management headed the investment round, which also included…
Trella’s Logistics Startup is Supported by Avanz Capital Egypt with $3.5 million.
To aid in the expansion of the Egyptian logistics sector, private equity firm Avanz Capital Egypt has invested $3.5 million…
PE Fund with a Focus on Zambia Closes its First Close at $40 million.
In a historic financing for a Zambian private equity firm, Monter Capital Partners in Port Louis successfully closed the first…
French Company Schneider Transfers Kenya Operations.
French energy company Schneider Electric Kenya will discontinue its manufacturing activities there, indicating challenges with local value-addition. Schneider Electric Kenya…
Report: Upcoming Months are Projected to See an Increase in Ghana’s Inflation.
Over the following two months, it is expected that Ghana’s inflation rate will increase. This is mostly caused by the…
Shane Harris is Appointed Chairman/MD of ExxonMobil Nigeria.
In Nigeria, Esso Exploration and Production Nigeria Limited, Mobil Producing Nigeria Unlimited, have appointed Shane Harris as their new chairman…
Airtel’s Network Launch has Increased Access to 5G.
In Nigeria, access to fifth-generation technology (5G) is expanding significantly, especially since Airtel Nigeria inaugurated the network on Monday in…
UK Lowers Tariffs on Goods from Nigeria and Other Countries.
In order to save businesses and consumers millions of pounds annually, the United Kingdom (UK) stated that it has drastically…
As Billing Revenues Reach N842 billion in a Year, Discos’ Collection Efficiency Increases.
According to the most recent data made available by the Nigerian electrical Regulatory Commission (NERC), the collection efficiency of the…
FG Begins Enforcing the Data Privacy Law, Banks, telcos, and others will Face Steep Fines.
Banks, telecommunications corporations, and other organizations might face fines of up to 2% of their annual turnover for data breaches,…
At the Official Market, Naira Drops to 770.38/$.
After ending Monday’s trading in the investor & exporter FX market at 770.38/$, the naira fell even further against the…
Nigerians Protest the 7.5% VAT the FG Imposed on Diesel.
The payment of the 7.5% Value Added Tax on Automotive Gas Oil, also known as diesel, was officially announced by…
Ofori-Atta: The Government will get $6.2 billion from Multilateral Partners.
The government anticipates receiving around $6.2 billion from its multilateral partners between 2023 and 2026, according to Ken Ofori-Atta, minister…
Request for a Sh2.8 billion debt write-off led Equity to sue TransCentury.
TransCentury Plc was placed under administration after Equity Bank Kenya turned down a request to cancel more than Sh2.8 billion…
Shareholders Approve an Additional N1.5 Billion Capital Infusion for TrustBanc
According to a statement from TrustBanc Holdings Limited, the extra N1.5 billion capital injection into TrustBanc Microfinance Bank Limited has…
Capital Market: By Q3 2023, ASEA will Launch AELP Phase II.
The second phase of the African Exchanges Linkage Project (AELP), which was successfully launched in phase one, is expected to…
Nigeria, Morocco, and others Agree on a $30 billion Pipeline.
Four Memorandums of Understanding for the $30 billion Nigeria-Morocco Gas Pipeline Project were signed on Friday at the ECWAS headquarters…
43 Prohibited Products Remain Under our Position – CBN
The Central Bank of Nigeria (CBN) has maintained its position about the 43 prohibited commodities that were presented by its…
FG Obtains a $750 million World Bank Credit for Power Development.
On June 9, 2023, the loan with project ID P174622 received approval, becoming the first World Bank loan to do…