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Nigeria tops South Africa in FDI in 2020 – UN Report

Nigeria, Africa’s largest economy attracted a total FDI of $2.6 billion in 2020 down from the $3.3 billion it attracted a year earlier. Africa recorded a total FDI of $38 billion in 2020 representing a drop of 18% from $46 billion recorded in 2019, data from the United Nations Trade Association shows. Nigeria, Africa’s largest […]

AfDB, EIB Seal Deal to Enhance Africa’s Development

The African Development Bank (AfDB) and the European Investment Bank (EIB) yesterday signed a joint partnership action plan on how to boost public and private sector investment in Africa. The joint action plan enables both institutions to grow a shared pipeline of bankable projects around key complementary themes to which each institution would bring their […]

Debt Servicing, Greatest Risk to Nigeria’s Economy – Adesina

The African Development Bank has projected a growth rate of 1.5 per cent for Nigeria in 2021, and a 2.9 per cent growth in 2022. The President, AfDB, Dr Akinwumi Adesina, disclosed this while delivering a speech at the first national tax dialogue on Thursday. He also said that debt service payments posed the greatest […]

Experts List Ways to Tackle Nigeria’s Economic Woes

Financial experts and other economic stakeholders have stressed the need for the government to create policies and implementation strategies to tackle the challenges posed by the coronavirus pandemic while providing an enabling environment for investments to thrive. These, according to them, would enable Nigeria to snap out of recession and improve the standard of living […]

Market Integration is a Process, says AfCFTA Secretariat Amid Challenges

The Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele Mene, has dismissed talks that the AfCFTA arrangement was being rushed, saying there is no trade agreement where all members were ready at the same time. Indeed, there have been concerns about countries’ readiness for the trade deal; many are yet to address issues […]

UNILORIN Researchers Recommend Pineapple in COVID-19 Management

A team of researchers at the University of Ilorin (UNILORIN) have established the capacity of Bromelain derivable from pineapple fruits in the management of COVID-19 cases. According to the University of Ilorin Bulletin issued on Monday, the discovery is in conjunction with Prof. Bamidele Owoeye, the Head, Department of Physiology, and Mr Ahmed Bakare, a […]

ILECCIMA Celebrates NACCIMA@60 Through Charity Grants For Micro Businesses In Ijesaland

Twenty women-led, micro businesses benefited from the NACCIMA@60   Charity Grants organized by Ilesa Chamber of Commerce, Industry, Mines and Agriculture (ILECCIMA) covering an initial Ilesa East and West Local Government Areas of Osun State. ILECCIMA is a member of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) which was established in the year […]

VFD Eyes Diaspora Remittance with Expansion of Operations in Africa

VFD Group, a financial service focused proprietary investment company, has expressed commitment to expand to more African countries to enhance Nigeria’s Diaspora remittances. The Group Managing Director/Chief Executive Officer, VFD Group Plc, Mr Nonso Okpala, disclosed this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Lagos. Okpala said the company […]

Downstream Infrastructure Rehab: NNPC Harvests Bids From 96 Reputable Firms From Various Jurisdictions For Contract

Buoyed up by the culture of Transparency, Accountability and Performance Excellence (TAPE) of the current NNPC management, no fewer than (96) prominent and reputable companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation’s (NNPC) downstream infrastructure ranging from critical pipelines to depots and terminals through the Build, […]

MSMEs Thrive During COVID-19, LBS Sustainability Conference Reveals

One of the startling revelations from the 2020 International Sustainability Conference, organised by the Lagos Business School (LBS), is that despite the depressed economy, which has seen companies shed staff or even shut down altogether, amid a second wave of recession, the MSME sector remained resilient, and vibrant notwithstanding the many challenges.  This edition of […]

FG to Build International Gemstone Market in Ibadan

The Federal Government has described gemstone as a natural resource that can boost the economies of Oyo State, Southwest region and Nigeria, by shoring up the internally-generated revenue (IGR), expressing readiness to exploit the resource for the benefit of all. To this end, it has commenced the process for the construction of an International Gemstones […]

Manufacturers Tasks SON on Protection of Local Industries Under AfCFTA

Local manufacturers in the North Central state of Kano, have charged the Standards Organisation of Nigeria (SON), on the need to protect local industries from undue imports at the ports of entry in preparation for the African Continental Free Trade Agreement (AfCFTA).    National Vice President of MAN, North West Zone, Ali Madugu, made the […]

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