Germany, Nigeria trade volume shrinks €3.5bn, effects of economic downturn in Africa nation
Businessam Staff
October 23, 2017
Bernhard Schlagheck, the German Ambassador to Nigeria disclosed Monday in Abuja that the volume of trade between Nigeria and Germany shrank to 3.5 billion Euros in 2016. In an interview with NAN, Schlagheck said that the trade volume dropped by about 2.5 billion Euros from six billion Euros recorded in 2015. The envoy blamed the fall on […]
Nigeria, Pakistan revamp joint commission to strengthen economic, trade relations
Businessam StaffOctober 23, 2017
Nigeria’s President Muhammadu Buhari said the Nigeria-Pakistan joint commission will be revamped as a veritable platform to strengthen economic and trade relations between both countries. Buhari gave the assurance on Saturday in Istanbul at a bilateral meeting with prime Minister Shahidkhakanabbasi, on the margins of the ninth d-8 summit in turkey. The president, who expressed […]
EU-Nigeria trade stands at €19.9bn in 2016, official says
Businessam StaffSeptember 20, 2017
Multilateral trade between Nigeria and European Union (EU) member states stood at 19.9 billion Euros in 2016, Fillippo Amato, the Union’s Head of Trade and Economic Sector, has said. According to Nigeria Agency News (NAN), Amato disclosed this Wednesday at a news conference on the 6th edition of the EU-Nigeria Business Forum, scheduled to hold […]
Nigeria may be getting out of recession in second quarter, NBS says
Businessam StaffAugust 10, 2017
Nigeria’s economy probably expanded in the second quarter as factory and farming output improved, helping it recover from the first annual contraction in 25 years, Yemi Kale, Statistician-General said. According to Bloomberg’s report, Kale, who is also chief executive officer of the National Bureau of Statistics, said in an interview Wednesday at his office in Abuja, […]
Nigeria’s central bank will continue to review policies to ensure best for economy, says Emefiele
Businessam StaffJuly 22, 2017
Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN) said the apex bank will continue to review its policies to ensure that the best is achieved for the country’s economy. Emefiele said this while giving a lecture on “The Dilemma of Monetary Policy and Exchange Rate Management in a Recession: Potential Options for Nigeria,” […]
Craft brewer targets Nigerian palates and big brands
Businessam StaffJuly 20, 2017
From pale ale with tangs of passion fruit and mango to a heady stout with 10 percent alcohol, a pioneering craft brewer in Nigeria is seeking to expand and grab more of a market dominated by Heineken and Diageo. Bature Brewery has faced a slog to launch the first commercial products from its microbrewery tucked […]
Nigeria forex reserve dips slightly in June from a month ago- CBN
Businessam StaffJune 30, 2017
Nigeria’s foreign exchange reserve stood at $30.25 billion by June 28, down 0.36 percent from a month ago, central bank data showed on Friday. The reserves showed a 14.8 percent rise from a year ago, when they stood at $26.34 billion. Nigeria’s dollar reserves have risen slightly this year thanks to the rise in global […]