Economy
-
Inflation rate to close 2023 at 30.5%, says EIU
Economist Intelligence Unit (EIU) has disclosed that Nigeria’s inflation rate to close 2023 at 30.5 per cent owing to a delayed and insufficient monetary response coupled with fiscal expansionism. EIU in a latest report on Nigeria said the inflation has continued to rise throughout 2023, and the pace has quickened since June owing to market reforms, which are likely to…
Read More » -
Dangote Refinery to start producing petrol with Nigerian crude
Africa’s richest man, Aliko Dangote, said his refinery has obtained a permit to process more than 300,000 barrels of Nigerian crude daily and will soon start producing gasoline. “We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude,” the tycoon said in an interview with Bloomberg on Saturday in Riyadh during the…
Read More » -
BREAKING: LASG seals Daleko, Ojuwoye markets, 3 others in Mushin
The Lagos state government, on Sunday morning, sealed five markets in Mushin and Odi-Olowo local council areas over environmental infractions by the traders. This was disclosed by the Commissioner for Environment and Water Resources, Mr Tokunbo Wahab, on his X handle. Wahab said the markets were sealed for contravention of the provisions of 2017 Environmental Management Protection Law. The sealed…
Read More » -
PHOTO NEWS: Tinubu markets Nigeria to investors at Saudi-Nigeria investment Roundtable in Riyadh
President Bola Tinubu on Saturday met with Saudi Arabia Minister of Commerce, Majid Al Kassabi and Minister of Investment, Khalid Al Falih where he marketed investment opportunities in Nigeria to them. In President Tinubu’s team were Minister of Trade Investment, Doris Uzoka-Anite and Minister of Finance Economy Mr Wale Edun.
Read More » -
Tinubu assures investors funds will come in, go out without hindrance
President Bola Tinubu on Saturday in Riyadh, Saudi Arabia, began his deliberation with the Captains of Saudi Arabian Industry at the Nigeria-Saudi Investment Roundtable by making clear that with his team in place, every negative perception or notion about what Nigeria has represented in the past with respect to the ease of doing business, monetary policy, and trade cooperation is…
Read More » -
MTN Nigeria says airtime debt clearance was a system glitch, not a gift
A technical error caused some MTN subscribers who had borrowed airtime from the company to see their debts wiped out. This was reported earlier, and some customers thought that MTN had forgiven their debts on purpose. They shared their happiness on social media. However, MTN Nigeria explained that it was not a planned action, but a system malfunction that affected…
Read More » -
Shettima commends Access Bank’s N30bn discounted loans for 700,000 MSMEs
Vice President Kashim Shettima has commended Access Bank for offering N30 billion discounted loans to 700,000 Micro Small and Medium Enterprises (MSMEs), in support of the Tinubu administration’s agenda for job creation and the growth of the MSME space. Shettima who disclosed this Friday at a meeting with MSME stakeholders comprising key actors from the public and private sectors, at…
Read More » -
Afreximbank, Anambra seal $200m deal
Bolaji Adebiyi in Cairo, Egypt Afreximbank and Anambra Investment Promotion and Protection Agency have signed financial advisory agreements aimed at helping Anambra State to raise capital for the development of strategic infrastructure projects. The capital raise financial advisory, worth $200 million, was sealed on Friday on the side lines of the bank’s Intra-African Trade Fair 2023 holding in Cairo, Egypt.…
Read More » -
Edun invites Arab investors to tap into Nigeria’s resources
Minister of Finance Coordinating Minister for the Economy, Wale Edun, has urged the Arab investors to consider Nigeria as a potential destination for their funds, citing the country’s abundant resources. Edun made this appeal on Friday at the Saudi Arab-African economic summit in Riyadh, where he highlighted Nigeria’s natural resources and infrastructure as attractive sectors for investment. According to a…
Read More » -
Soyinka cautions against technology-induced illiteracy in Nigeria at IATF 2023
Nobel laureate Professor Wole Soyinka has warned that technology is producing new illiterate generations in Nigerian society. Soyinka was speaking at the 3rd Intra-African Trade Fair, IATF 2023, in Cairo on Friday. The fair was organized by the African Export-Import Bank (Afreximbank), in partnership with the African Union and AfCFTA. Soyinka said, “This is a huge topic, and we can…
Read More »
Follow our WhatsApp Channel