Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), announced that the Abidjan-Lagos highway corridor has attracted investment interest amounting to $15.5 billion. Adesina made this announcement during the 2023 Africa Investment Forum (AIF) Market Days in Marrakech, Morocco, themed “Unlocking Africa’s Value Chains.” Adesina emphasised the transformative potential of the corridor, stating that Read More…
In a private sector ESG forum in Lagos themed “Is the Private Sector Accountable: A case for sustainable practices?”, Governor Babajide Sanwo-Olu and private sector stakeholders underscored the imperative of collaboration to integrate Environmental, Social, and Governance (ESG) principles into manufacturing operations, thereby driving the circular economy. Represented by his Special Adviser on Sustainable Development Read More…
As the Naira grapples with ongoing volatility, stakeholders are urging a boost in local production of goods and services as a key strategy to fortify the currency. The News Agency of Nigeria (NAN) highlights the recent breach of the N1,000 to the dollar threshold at the parallel market, coupled with significant weakening at the official Read More…
In a strategic move, Leadway Assurance is teaming up with Leytro, a prominent insurtech company, to introduce user-friendly, cost-effective, and incentive-driven insurance policies tailored for fleet managers and drivers. Umashime Oguzor-Doghro, a representative of Leadway Assurance, shared this in a statement released on Tuesday in Lagos, highlighting the significance of this alliance. She stated that Read More…
The Nigerian National Petroleum Corporation (NNPC) Ltd announced on Tuesday the introduction of a new crude grade named Nembe as part of Nigeria’s efforts to increase crude oil production. Africa’s largest oil producer has been grappling with declining output due to issues like crude theft, pipeline attacks in the Niger Delta, and underinvestment, leading to Read More…
Ramnin Toloui, Assistant Secretary for U.S. Economic and Business Affairs, has predicted that Nigeria’s creative industries could generate $100 billion in revenue by 2030. Speaking at the Africa Creative Market Conference in Lagos, Toloui also suggested that the industry, if properly harnessed, could create up to 2.7 million jobs by 2050. The conference, focused on Read More…
The Manufacturers Association of Nigeria (MAN), in collaboration with the Raw Materials Research and Development Council (RMRDC) and other key stakeholders, is gearing up to explore innovation, technology, and sustainability strategies aimed at accelerating the entire manufacturing industry in Africa. Speaking at a press conference in Lagos, Otunba Francis Meshioye, President of MAN, announced the Read More…
In a bid to enhance the competitiveness of the African maritime sector, President Bola Tinubu has emphasised the need for full automation. He made this call during the 43rd Annual Council Meeting and 18th Roundtable of Managing Directors/Exhibition of the Port Management Association of West and Central African (PMAWCA) in Lagos on Monday. The gathering, Read More…
Chandramouli Kern, the Consul General of India in Lagos, has highlighted the significant role of Indian investors in Nigeria, noting that they have emerged as the leading investors in the country with over a cumulative investment of $27 million and a presence of no fewer than 200 Indian companies. He made these remarks while inaugurating Read More…
The Association of Bureau De Change Operators of Nigeria (ABCON) has unveiled the reasons behind the Naira’s resurgence against the US Dollar, highlighting the pivotal role played by the Central Bank of Nigeria (CBN) in bolstering the currency. In a statement released on Sunday in Lagos, ABCON’s President, Alhaji Aminu Gwadabe, pointed out that the Read More…
