The African Development Bank (AfDB) Group warns again that Africa is extremely vulnerable to climate hazards. The bank claimed in a statement published on its website on Tuesday that Africa contributed the least to global pollution. It was acknowledged in the declaration that African countries generally were experiencing difficulties in obtaining sufficient funding. “Thus, resources Read More…
If the continent’s numerous shocks are appropriately addressed, the Economic Commission for Africa (ECA) suggests that its economy might grow positively. This is contained in a press release by Mr. Adam Elhiraika, Director of the Macroeconomics and Governance Division of the ECA, during the experts meeting currently taking place in Ethiopia. Elhiraika stated that a Read More…
Nigeria’s overall goods trade, according to the National Bureau of Statistics (NBS), was worth N11,722.44 billion in the fourth quarter of 2022. The NBS Foreign Trade in Goods Statistics Report for Q4 2022, which was released on Friday in Abuja, supports this. According to the NBS, overall exports were N6,359.61 billion while total imports were Read More…
A thorough understanding of Nigeria’s population, according to United Bank for Africa (UBA) Plc Chairman Mr. Tony Elumelu, will aid in accelerating economic growth and development. Elumelu, who is also the Chairman of Heirs Holdings Group and Transnational Corporation (Transcorp) Plc, was speaking on Monday in Abuja during a donor engagement over Nigeria’s 2023 Housing Read More…
An economic agenda for the new administration has been established by the Centre for the Promotion of Private Enterprises (CPPE) with the goal of restoring investor confidence and repositioning the Nigerian economy. In a statement released on Sunday in Lagos, the founder of the CPPE, Dr. Muda Yusuf, said that Nigeria’s current political transition gave Read More…
In order to boost local content and promote economic sustainability in Nigeria, the National Office for Technology Acquisition and Promotion (NOTAP) will work with the Nigerian Academy of Science (NAS). Dr. DanAzumi Ibrahim, the DG NOTAP, spoke Friday in Abuja to a delegation from the academy that was headed by Prof. Ekanem Brande, the academy’s Read More…
The proposed reform of the CBN’s cash withdrawal limit policy for businesses and individuals has the support of financial professionals. In separate interviews with newsmen on Wednesday in Lagos, they expressed this. While the experts were speaking, Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria, indicated that the government would not be stringent Read More…
According to the presidency, between 1999 and 2021, nine oil-producing states will have earned a total of N625.43 billion in 13 percent oil derivation, subsidies, and SURE-P refunds from the Federation Account. The impacted states that received the reimbursements spanning from 1999 to 2021 were Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Read More…
The International Monetary Fund has cut its estimate for Nigeria’s real GDP growth in 2022 from 3.4% to 3%, citing low oil production and the bad effects of recent flooding. Nigeria is trying to stop oil theft and violence in its oil-producing areas, which has cut oil production and the government’s income. Additionally, the nation Read More…
Nigeria’s economic existence will be ensured, according to the Nigerian Export Promotion Council (NEPC). This was said by Dr. Ezra Yakusak, Executive Director/CEO of NEPC, during a news conference announcing the NEPC Export Week, which will take place from November 21 to November 26. Yakusak emphasised that Nigerians must support non-oil exports since they are Read More…
