Nigeria has not flouted ECOWAS pact over border closure – DTBE
Businessam Staff
November 4, 2019
Nigeria has not violated the free movement of people guaranteed under the Economic Community of West African States (ECOWAS) Treaty over its decision to close land borders to reduce crime, especially smuggling. This was part of the resolutions of the Daily Trust Board of Economists’ emergency meeting in Abuja contained in a communiqué signed by […]
Nigeria to keep borders closed until January, 2020
Samson EchenimNovember 3, 2019
The continued lack of activities around the Nigeria borders has resulted in serious economic concerns for the citizens of the country. Imported commodities have surged in values. As well, business owners are finding it hard to bring about profitable trading. The price instability has led some citizens to call for the reopening of the closed […]
AfDB identifies 14 sites for agro-industrial processing zones in Nigeria
Businessam StaffAugust 6, 2019
The African Development Bank (AfDB) African Development Bank (AfDB) says it has identified 14 sites for the proposed special agro-industrial processing zones (SAPZs) in Nigeria. Banji Oyelaran-Oyeyinka, special adviser on Industrialisation to AfDB’s president, Akinwumi Adesina disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday. He said that […]
Nigeria to emerge second largest rice importer in 2019-USDA
Businessam StaffNovember 28, 2018
Nigeria’s rice imports will jump 13 percent next year to 3.4 million metric tons, making Africa’s most populous country the world’s biggest rice importer after China, according to the U.S. Department of Agriculture. “China and Nigeria are projected to remain the largest rice importing countries in 2019, followed by the EU, Cote d’Ivoire, and Iran,” […]
ECA to work with member states on improving social-economic wellbeing of Africa
Businessam StaffJuly 25, 2018
The Economic Commission for Africa (ECA) primary focus is to support member states in their quest for sustainable development that promotes inclusive prosperity, economic opportunity and greater social wellbeing, says Sylvain Boko, principal regional advisor on planning and statistics at the ECA’s capacity development division. Speaking at the beginning of a two-day National Policy Dialogue […]
DHL, MallforAfrica join forces to take African products to global markets
Justice OkamgbaJuly 16, 2018
Global express services provider, DHL, has announced a partnership a trangement with e-commerce giant, MallforAfrica’s new platform, Marketplace Africa, to help online retailers bring African-made products to the US and global market. According to a statement issued Monday by DHL, the partnership is geared at removing the barriers of isolation which African crafts people experience […]
A little inflation will not hurt Nigeria’s economy, investment analyst says
Adesola AfolabiMay 28, 2018
The hawkish monetary policy stance of the Central Bank of Nigeria (CBN) by holding benchmark lending rate constant at high 14 percent for almost two years based on the need to ensure sustained price and foreign exchange stability is having detrimental impact on productivity, according to Lekan Shitta-Bey, an investment banking analyst and managing consultant […]
Rising oil prices sustain Nigeria’s economic growth for the fourth quarter
Businessam StaffMay 21, 2018
Rising oil prices have contributed largely to Nigeria’s economy, which expanded for a fourth straight quarter in the first three months of 2018. According to growth figures released by the Nigerian statistical agency, the National Bureau of Statistics, gross domestic product expanded 1.95 percent in the three months through March, though slowing 0.16 percent quarter […]
World Bank pledges $8.8bn Nigeria investment
Joel EneogweMay 14, 2018
The World Bank has announced a pledge of $8.8 billion (N2.7 trillion) investment strategy to Nigeria for the 2019 fiscal year following the just concluded visit to Nigeria. The investment strategy, made in a statement monitored on Premium Times, would be implemented under the World Bank’s Nigeria Country Partnership Strategy (NCPS) through the International Development […]
Nigeria govt spent N1.5trn on capital projects in 2017, finance minister says
Businessam StaffMay 14, 2018
Kemi Adeosun, Nigeria’s finance minister, said Sunday that the country’s government spent more than N1.5 trillion on capital infrastructure in 2017. The minister stated this via her official Twitter handle, @HMKemiAdeosun, noting that the figure is higher than what was achieved in the 2016 budget. said the Federal Government’s debt management strategy was yielding the […]