Nigeria begins baby-steps to harness N33trn livestock industry with $2.5bn Brazilian investment commitment
Post AMUGE
February 13, 2025
To transform Obudu Cattle Ranch into livestock, dairy production hub Ben Eguzozie Nigeria is soon to take baby-steps to utilising its livestock industry, with potential worth some N33 trillion, according to latest data from the ministry of livestock development. This move would draw largely from an incoming $2.5 billion investment commitment from some Brazilian investors, […]
Frontier markets set to attract higher capital inflows on global rate cuts
Post AMUGEJanuary 27, 2025
Bamidele Famoofo Frontier markets which include Nigeria, world’s most populous black nation, will reap the fruit of rate cuts in a bid to curb inflation by big economies. Central banks have made substantial progress in the fight against inflation in recent times. In July 2022, the median inflation rate worldwide was 9.4 percent, the highest […]
NDDC, controversial gov’t quango operated without budgets for 3-yrs
Post AMUGEDecember 30, 2024
Approached financial institutions to raise N1trn to fund 2024 budget Ben Eguzozie The Niger Delta Development Commission (NDDC), the scandalous quango established by the Nigerian federal government in October 2000, hardly different from its previous character of opacity, phantom projects and phoney contract payments, recently showed that it is difficult to wean it of controversy. Information […]
Makinde prioritises infrastructure, education in N678bn budget estimate for 2025
Post AMUGENovember 13, 2024
Onome Amuge Oyo State Governor Seyi Makinde has unveiled a budget estimate of N678,086,767,332.18 billion before the State Assembly on Wednesday, with infrastructure and education taking the lion’s share of the allocation for the 2025 fiscal year. Termed, ‘the Budget of Stabilization,’ Governor Makinde emphasised that it aims to boost the economic recovery efforts of […]
Cross River commences $350m 365-km Calabar-Obudu rail project
Post AMUGEAugust 15, 2024
Ben Eguzozie, in Calabar Governor Bassey Otu of Cross River has broken the ground for an ambitious 365-kilometre railway to connect the state’s southern part with the largely agrarian north. The project is a public-private partnership funded initiative driven by Messers Reinhooke LLC in partnership with the state government. The rail line takes off from […]
Report shows grim 5-year outlook for Nigeria’s informal businesses
Post AMUGEJuly 16, 2024
Details stages of struggles to stay afloat Onome Amuge A worrying trend has been exposed in Nigeria’s informal sector, with a new report revealing that most businesses within this sector fail to survive beyond five years, reflecting the harsh reality facing these businesses which contribute over half of Nigeria’s gross domestic product. The 2024 Informal […]
Abia’s N1bn interest-free loan scheme to empower 10,000 local entrepreneurs
Post AMUGEJuly 15, 2024
Business a.m. Governor Alex Otti of Abia State has launched a N1 billion interest-free revolving loan to empower 10,000 nano and small scale business owners across the 184 wards in the 17 local government areas of the state. At the launch in Umuahia, the state capital, the governor explained that the Abia State Cooperative Support […]
Cross River invests N6bn, begins massive cultivation of farm produce
Post AMUGEJune 11, 2024
Clears 12,000 ha for rice, cassava, maize, wheat To engage 4,000 as onboarding out-growers Ben Eguzozie, in Calabar Cross River, a littoral state has flagged off land clearing and development of 12,000 hectares of farmland for onboarding out-growers. The out-growers would cultivate rice, maize, cassava, wheat, coffee and cowpea. Cross River is a major […]
1-yr on, Cross River under Otu sees IGR uptick of N36bn
Post AMUGEJune 3, 2024
Governor says foundation laid for strong economy Ben Eguzozie In just the first year under Governor Bassey Otu, Cross River has seen an uptick in its internally generated revenue (IGR) of N36 billion or 60.6 percent as of May this year up from N22.6 billion in June last year. Additionally, N16.3 billion was recorded between […]
Cross River lines Afreximbank to hunt $3.5bn for Tinapa, Obudu, airport
Post AMUGEMay 20, 2024
Ben Eguzozie Cross River State is beginning the rebuilding of the multi-billion-naira Obudu Cattle Ranch resort, Tinapa Business & Leisure Resort and the Obudu International Airport with a $3.5 billion mandate facility from the African Export-Import Bank (Afreximbank). The three high-impact infrastructure facilities, with market worth of more than N300 billion, in their glory days […]