The Africa Enterprise Challenge Fund has inaugurated the second round of its household solar competition worth £16m to promote access to solar home systems to rural dwellers in Nigeria and four other African countries. It said the programme, which was done in partnership with the United Kingdom, would provide solar power to not just households…
The Federal Government has pledged to complete the construction of satellite Assembly, Integration and Testing (AIT) centre at the National Space Research and Development Agency. Minister of Science and Technology, Dr. Ogbonnaya Onu, made the pledge while inaugurating some projects at the campus of the satellite agency along Nnamdi Azikiwe Airport Road in Abuja recently.…
Microsoft has hit the trillion-dollar value mark, becoming the third technology giant to reach the symbolic milestone. Shares in Microsoft rallied some five per cent to $130.59 in early Wall Street trade after a robust earnings report recently. That gave Microsoft a market capitalization of just over $1 trillion, before dipping back slightly. At its…
At the end of March 2019, the African Development Bank’s active portfolio in Nigeria rose to 60 operations with total commitments of $4.5bn. The bank said these comprised 28 public sector operations with total commitments of $1.7bn (21 national and seven regional); 34 non-sovereign operations with total commitments of $2.8bn. In a statement, the bank…
A mutilated banknote refers to a poor quality banknote that requires a special examination to determine its value. The note could be partially or permanently damaged by fire, water, dye, insects, rodents or destroyed by natural disasters. In a circular issued by the CBN, it said the initiative was in a bid to enhance the…
The Senate has declared that when passed into law, the Bill on Agriculture, Industry and Modernisation currently before the Senate would transform Nigeria. According to the Senate, the bill when passed into law, will give the required legal framework for mechanised farming in the country, particularly in the area of land to be used for…
The board of the African Development Bank has approved an institutional support grant of $4.8m to the African Union, to accelerate the momentum of the African Continental Free Trade Area Agreement. AfCFTA received its 22nd ratification on April 2, bringing the agreement into force. Nigeria, has however been assessing the impact the AfCFTA would have…
Despite the ratification of the African Continental Free Trade Area (AfCFTA) Agreement by 22 countries, the delay by four countries in depositing their instruments, as well as other trade issues needed to be addressed before the deal becomes operational, may stall the implementation beyond the proposed date of July, 2019. The AfCFTA is expected to…
Edo State Government has acquired a N5bn loan from the Central Bank of Nigeria (CBN) under the Commercial Agric Credit Scheme, to be invested in rice and maize production across the three senatorial districts. The State government seeks to harvest 17,000 tonnes of rice and 11,000 tonnes of maize by cultivating 6,600 hectares of land…
