Economy
-
Afreximbank plans US$1bn fund for creative industry
Bolaji Adebiyi in Cairo Egypt Pan African bank, Afreximbank, plans to boost the creative industry in Africa with US$1bn by next year. The fund, according to Kanayo Awani, the bank’s vice president, Intra-African Trade, is targeted at film production to acelerate the growth of the continent’s creative sector. Although, UNESCO says the film, and audiovisual industries in Africa employ five…
Read More » -
PHOTO NEWS: Sanwo-Olu attends Africa Investment Forum in Marrakech, Morocco
Lagos State Governor Babajide Sanwo-Olu was part of the participants at the Africa Investment Forum in Marrakech, Morocco. The forum is a multi-stakeholders platform that advances infrastructure investment and raises capital for city projects
Read More » -
NEITI: NNPC, FIRS revenue contributions drop by 56%, 10%
The Nigeria Extractive Industries Transparency Initiative (NEITI) has published its latest report on the Fiscal Allocation and Statutory Disbursement (FASD) for the period 2020 and 2021. The report shows that the revenue contributions of the Nigerian National Petroleum Company (NNPC) and the Federal Inland Revenue Service (FIRS) to the Federation Account fell by 56 per cent and 10 per cent…
Read More » -
FG signs MoU with Saudi on oil deal
The Kingdom of Saudi Arabian and Nigerian government signed a Memorandum of Understanding (MoU) on Thursday to cooperate in the oil and gas industry. In a statement released on Thursday, Nneamaka Okafor, the special adviser on media and communication to the Minister of State for Petroleum Resources (Oil), stated that the MoU is evidence of both parties’ shared commitment to…
Read More » -
Nigeria’s crude oil affected by Russia-Ukraine conflict, says NNPC Ltd
The ongoing crisis between Russia and Ukraine has had a negative impact on the demand for Nigerian crude oil in the global oil market, especially from the Asian market, which used to be a reliable buyer of Nigerian oil before the war started in the Eastern region. This was revealed by Maryamu Idris, Executive Director, Crude & Condensate, NNPC Trading…
Read More » -
LCCI applauds Dangote Group for poverty reduction, economic development in Nigeria
The Lagos Chamber of Commerce and Industry (LCCI), representing the Organized Private Sector, praised Dangote Industries Limited (DIL) on Wednesday for its role in reducing poverty in Nigeria. The Chamber highlighted the huge employment opportunities that the Dangote Refinery will create for the youth when it becomes fully operational. Dr Micheal Olawale-Cole, President of the Chamber, said that Dangote Group…
Read More » -
Why FG has not approved electricity tariff increase – Adelabu
The Minister of Power, Adebayo Adelabu, has revealed that President Bola Tinubu intervened to prevent a hike in electricity tariff and insisted on subsidising the power consumption across the country. He made this known at a press briefing in Abuja on Wednesday. He also said the federal government would look into the legality of the extension of the licences of…
Read More » -
Tracka uncovers N8.6bn paid to ‘no-show contractors’ in 2022 FG budget
Tracka, BudgIT’s service delivery promotion platform, which allows citizens to collaborate, track, and give feedback on public projects in their communities, has uncovered N8.6 billion payments to twenty-six contractors for 19 projects across nine states that have either been abandoned or not done. Some of these projects include the payment of N542 million to Abu-Halawa International Limited between December 2020…
Read More » -
NASENI, agric ministry agree to partner on agro-industrialization, climate change mitigation, others
The National Agency for Science and Engineering Infrastructure (NASENI) and the Federal Ministry of Agriculture and Food Security have commenced discussions on how to deploy existing technical competencies and other resources by the two institutions to improve agro allied-industries development targets, climate change mitigations and smart solar irrigation aimed at dry-season farming. The trio of the Minister of Agriculture &…
Read More » -
FG working with mining communities to promote development
The Minister of Solid Minerals Development, Dele Alake, has reaffirmed the significance of host communities and traditional rulers to the conducive environment required for socio-economic development of host communities. Alake stated this while playing host to Attah of Igala and President of Kogi State Traditional Rulers Council, HRH Ata Matthew Opaluwa, who paid him a courtesy visit in the office…
Read More »
