The African Development Bank (AfDB) says the newly launched Agro-Industrial Processing Zones in Nigeria has the potential to solve the country’s poverty, hunger and foreign exchange challenges. In an interview with the News Agency of Nigeria (NAN), Prof. Banji Oyelaran-Oyeyinka, Special Adviser on Industrialisation to the President of the...
Economy
It qualifies as exemplary and a right step taken in the right direction, the recent report by the Director-General of the Fund, Mr Joseph Ari, that the federal government is partnering with the Industrial Training Fund (ITF) to inject N381 trillion into the economy to cushion the growing rate...
South Africa’s economy shrank for the first time in a year in the third quarter as the country was hit by riots and tighter Covid restrictions, official statistics showed Tuesday. After four consecutive quarters of growth, the economy contracted by 1.5 percent between July and September compared to the...
President Muhammadu Buhari says Nigeria remains the most viable and attractive investment destination in Africa. He says also that the country is on the path of becoming the continent’s leading industrial and trading nation. The president made the declarations when he addressed a trade and investments forum at the...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised an alarm over the increasing cost of food and cooking gas in the country. In a statement jointly signed by its President – Festus Osifo, and General Secretary – Lumumba Okugbawa, the union lamented that the...
By MARY RONKE, Ilorin – Kwara State Governor, AbdulRahman AbdulRazaq has said that he would issue an Executive Order for ease on doing business in the state. Governor AbdulRazaq stated this on Tuesday when he formally declared open the 8th Kwara Trade Fair in Ilorin. The trade fair, which...
The Pentecostal Fellowship of Nigeria has told the Federal Government that removing fuel subsidy will worsen the suffering of the majority of Nigerians who are already impoverished. The President of PFN, Bishop Wale Oke, urged the government to shelve the proposed policy in order not to worsen the hardship...
An economist, Dr Abayomi Awujola, has said that cooperative societies contributed over N500 billion to Nigeria’s Gross Domestic Product (GDP) in 2020. Awujola, Head of Department, Economics, Bingham University, Abuja, stated this during a paper presentation at the North East regional meeting of Presidents of the Cooperative Societies of...
President of the African Import Export Bank (Afreximbank), Prof. Benedict Oramah, has said Africa’s creative industry is a potent instrument that could grow the Gross Domestic Product (GDP) of African countries and pull the youths out of poverty. Oramah said this at the two-day Creative Africa Nexus (CANEX), which...
By EZEKIEL OBI, Abuja – The National Agricultural Mechanization Cooperative Society (NAMCS) has resolved to empowered about 15 million Nigerians, particularly women, in poultry farming. Vice President of the cooperative society, Dr Aminu Abdulkadir, stated this on Saturday at a news conference in Abuja. He also inaugurated the FCT...
Vice President Yemi Osinbajo says no fewer than six startups owned by young Nigerians have grown from scratch to billion dollar businesses in recent years. Osinbajo was the Special Guest of Honour at the Graduation Ceremony of Senior Executive Course 43, 2021 of the National Institute for Policy and...
Nigeria’s population growth that is adversely averse with the economic growth has been identified as not just a problem but the cause of poverty. Prof Jibrin Ibrahim, Senior Fellow, Centre for Democracy and Development, Abuja, and the lecturer on the theme: “Population, Rights and Peace, Mitigating Insecurity and Gender-Based...
With population in excess of 200 million and access to market across the continent, Nigeria is the most attractive destination for investment in Africa, economic experts say. The CEOs of First Bank of Nigeria (FBN), Dr Adesola Adeduntan and Bank of Industry (BoI), Mr Olukayode Pitan, stated this respectively...
The Minister of Finance, Budget, and National Planning, Zainab Ahmed, has said smuggling is responsible for the rising cost of rice in the country. Speaking during an interview on Channels TV’s Politics Today, the Minister said smuggling is affecting the market and hurting the citizens. “Unfortunately there is a...