The Central Bank of Nigeria (CBN), has expressed optimism that its monetary policy initiatives are yielding the desired results. The bank’s Director, Corporate Communications Department, Isa AbdulMumin said this in Abuja on Wednesday, while speaking on the latest National Bureau of Statistics (NBS) figures. According to him, the...
BUSINESS
The National Bureau of Statistics (NBS) said Nigeria’s headline inflation rate increased to 27.33 per cent in October 2023. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for October, which was released in Abuja on Wednesday. According to the report, the...
The Managing Director of Shell Nigeria Exploration and Production Company Ltd. (SNEPCo), Mrs Elohor Aiboni, has said that Nigeria needs to diversify its renewable energy portfolio to reduce carbon emissions from fossil fuel production. Aiboni said this the 41st Annual International Conference and Exhibition of the National Association...
The African Export-Import Bank (Afreximbank) has said it is set to inaugurate the African Energy Bank in June 2024 to mitigate the crisis in the African energy sector. The bank disclosed this during a session on “Africa’s Energy Transition and Financing’’, at the ongoing Inter-African Trade Fair...
1. Introduction. There has been clamor by the Bureau De Change (BDC) operators for their readmission into the Investors and Exporters (I&E) window, now known, as the Nigerian Autonomous Foreign Exchange Market (NAFEM). With the re-listing by the new CBN Governor Mr. Cardoso of the 43 items...
Over the years, scholars have advanced the idea that Human Capacity Building feeds the complex web where education, innovation, growth and employment are interlinked. For an interventionist agency such as the Niger Delta Development Commission, NDDC, there is a tendency to focus more on infrastructural development. However, it is...
The inaugural Saudi-Arab-African Economic Conference was held in Riyadh on 9 and 10 November and drew high-level delegates from across the continent, including dozens of heads of state. Over 50 agreements were signed during the conference between Saudi, Arab, and African governments. This notably included financing agreements by the...
The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has said that the ministry is pursuing its goal of generating 20 billion dollars annually. Oyetola also said that his ministry was working toward creating two million jobs on a yearly basis through strategic development within the sector. A...
Chief Executive Officer (CEo), Seplat Energy Plc, Mr Roger Brown, has said Africa should reposition the energy industry for the future and become more efficient with its resources. Brown said this at the 41st Nigerian Association of Petroleum Explorationists (NAPE) International Conference and Exhibition on Tuesday in Lagos....
The Central Bank of Nigeria (CBN) has said the old Naira banknotes will henceforth remain legal “ad infinitum ”. CBN’s Director, Corporate Communications Department, Isa AbdulMumin, said this in a statement on Tuesday in Abuja. It would be recall that the CBN had introduced redesigned N200,...
The Nigeria Customs Service, Seme Area Command, Lagos State, said on Tuesday that it generated a total sum of N3.05 billion in 10 months. The Controller of Customs in the command, Comptroller Timi Bomodi, disclosed this to newsmen at a news conference in Seme, Lagos. Bomodi said the...
By MBAFAN ADE, Abuja – The Nigerian Content Development and Monitoring Board (NCDMB) and SLB, a global technology company on Tuesday in Lagos unveiled the first three products of their joint program, the NCDMB-SLB Technology Enhancement Program (N-STEP), a platform whereby students of higher institutions develop software...
By EZEKIEL OBI, Abuja – The Transmission Company of Nigeria (TCN) has said the national grid is intact and supplying electricity to distribution load centres nationwide. Mrs Ndidi Mbah, TCN’S General Manager Public Affairs, made this known in a statement in Abuja on Tuesday. Mbah said that...
The Chairman of MTN Nigeria, Dr Ernest Ndukwe, says the telecom sector now contributes over 16 per cent to Nigeria’s Gross Domestic Product (GDP). Ndukwe said this in Abuja on Tuesday at a two-day Premier Capital Markets Day Event organised by MTN. According to him, in pursuant...
By MBAFAN ADE, Abuja – The Nigerian National Petroleum Company Limited (NNPC Ltd) has urged media, stakeholders and the general public to maintain uniformity in the use of its brand name and logo. This is contained in a statement issued by its Chief Corporate Communications Officer, Olufemi...
Afreximbank has signed a 150 million dollar trade finance facility agreement with United Bank for Africa (UBA) PLC, under the Ukraine Crisis Adjustment Trade Financing Programme for Africa. The News Agency of Nigeria(NAN) reports that the agreement was signed on the sidelines of the ongoing Intra-African Trade Fair...
At a time it is hunting for a vote for hosting rights of the World Expo in Riyadh, Saudi Arabia has announced that it is preparing a financial portfolio of $10 billion worth of exports and another $5 billion in development financing for African countries as it sought to...
The Nigerian National Petroleum Company Ltd. (NNPCL) has restored production of 275, 000 barrels of oil per day (bpd) following the settlement of lingering rift between oil operators and unions. The NNPC Ltd. on Sunday brokered a peace deal between TotalEnergies management, NNPC/Total JV operator, Petroleum and Natural...
African Development Bank (AfDB) has finalised arrangements to disburse 618 million dollars to Nigeria under the Investment in Digital and Creative Enterprise (i-DICE) programme. AfDB’s Country Director-General for Nigeria, Mr Lamin Barrow told the News Agency of Nigeria (NAN) in Marrakesh, Morocco on Sunday that the Nigerian government...
Introduction Gambling is one of the many pastimes people can engage in. However, it all started as a fun-filled side attraction for most people now entangled in gambling addiction. This addiction often has severe negative impacts on one’s financial decisions, relationships, and social and work life. In the same...