Economy
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Afreximbank has made lot of difference in Africa, says Okwuoza
The Chief Executive Officer of Oilserv Limited, a leading EPC company in Nigeria, Emeka Okwuoza, in this interview with journalists at the recently concluded Intra-African Trade Fair 2023 in Cairo, Egypt gave kudos to the organisers of the fair, Afreximbank, charging the continental bank to scale up its initiatives to promote intra-African trade. Excerpts: You are a participant in the…
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FG committed to creating enduring structure for mining sector development – Alake
The Minister of Solid Minerals Development, Dele Alake, has affirmed the commitment of the Federal Government to creating an enduring governance structure to herald sustainable development in the mining sector. Speaking on the topic, “Strengthening Policies to promote Sustainable Environment for Mining Host Communities” at the 2023 West African Mining Host Communities INDABA, Alake emphasised that the administration is reviewing…
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BREAKING: At 27.33%, Nigeria’s inflation rate hits highest peak since 2005
Nigeria’s inflation rate hits 27.33 per cent in October 2023, making it the highest record since August 2005 when it was at 28.2 per cent. This is disclosed by the National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) on Wednesday. According to NBS, “In October 2023, the headline inflation rate increased to 27.33per cent relative to the…
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Housing minister unveils N50m mortgage scheme for Nigerians in diaspora
As the 6th edition of Nigeria Diaspora Investment Summit (NDIS), opens in Abuja, the Minister of Housing and Urban Development Architect Ahmed Dangiwa, has launched the Diaspora Housing Schemewith a promise for Diasporas access up to N50 Million loan for mortgage with an interest rate of 6.9%, to be paid over a period of 10 years. The Minister who initiated…
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Maida applauds Project Train 3M on ICT Skills
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida has applauded the proposal by the Hon. Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, to enlist and train three million Nigerians over a period of four years, which will make the country an exporter of digital skills. Maida, who spoke recently in Lagos at…
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Finance minister projects 25% revenue-to-GDP ratio by 2026
Nigeria’s revenue-to-GDP ratio will rise to 25 percent in 2026 from 8 percent in 2023, according to Minister of Finance Wale Edun. He made this projection on Tuesday at the launch of Afrinvest’s 2023 Nigerian banking sector report in Lagos. He said this will be achieved through the successful implementation of the ongoing domestic reforms, which will also increase the…
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Afreximbank unveils EPC platform, commits $2bn to export agriculture for food security initiative
Bolaji Adebiyi in Cairo, Egypt The African Export-Import Bank (Afreximbank) in Cairo, Egypt on Tuesday unveiled an intra-African Engineering, Procurement and Construction (EPC) platform designed to empower African contractors to successfully bid for contracts. The platform, the bank said, would boost the capacity of African companies to bid for EPC contracts within the continent by allowing for the seamless posting…
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Kwara govt closes deal with NEXIM at IATF
By Mosunmola Ayobami,Ilorin Kwara State Government has closed a partnership deal with the Nigerian Export Import Bank (NEXIM) towards facilitating export-related industrialisation and investment promotions around local resources in the state. The signing of the deal occurred on Monday in Cairo, Egypt, on the sidelines of the Intra-African Trade Fair (IATF) following briefings on the various economic projects of the…
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Nigerians in diaspora investors, crucial partners for solid minerals development – Alake
The Minister of Solid Minerals Development, Dr. Dele Alake has declared Nigerians in Diaspora investors as essential partners for unlocking the financing and technical capacity required to transform the mining sector. Speaking to a cross-section of Nigerians in Diaspora investors led to his office Monday evening, by Chairman of the Nigerians In Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, Alake stressed that…
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Saudi investment in Nigeria will create job opportunities, lift millions out Of poverty – Betta Edu
The Federal Government has hailed the Saudi government and its investors’ interest in Nigeria and creating jobs that could help millions of vulnerable Nigerians escape poverty. Nigeria’s Minister for Humanitarian Affairs and Poverty Alleviation, Betta Edu, who stated this on the sidelines of the Saudi-Africa Investment Summit in Riyadh, also described the development as a welcome initiative and a huge…
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