The Nigerian Export Promotion Council has unveiled its service charter that would raise the expectations and define the standard of service to be provided to customers and members of staff. The move is part of the strategies to stimulate improvements and reforms in the way businesses would be conducted in the export promotion agency The…
The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has secured a total of N4.5bn from four Deposit Money Banks for the cultivation of maize and soybeans in three states. The banks are Stanbic IBTC with the sum of N2bn; Sterling Bank Plc, N1.5bn; and Union Bank Plc, N1bn. The funding is a fallout of…
The Bankers Committee of the Central Bank of Nigeria has said it is set to commence the disbursement of funds under the Creative Industry Financing Initiative. The decision to commence the disbursement of funds under the initiative was made at the end of the committee’s meeting held at the CBN headquarters in Abuja. Present at…
Foreign direct investment in Nigeria, Africa’s top oil producer, plunged by 43 per cent to $2bn, according to a United Nations report. Reuters reported recently that investors were put off by a dispute between the government and South African telecom giant MTN over repatriated profits. Banks HSBC and UBS both closed representative offices there in…
Industrial zones in 10 states of the federation recorded impressive performance and showed strong growth potential in the first quarter of the year, according to data from the Manufacturers Association of Nigeria. The states were listed as Oyo, Ondo, Osun, Ekiti, Rivers, Kwara, Kogi, Lagos, Ogun and Kano. The zones that recorded above average performance…
By virtue of its human and natural resources endowment, Nigeria has the potential to become a major player in the global economy. However, this potential has remained relatively untapped over the years. After a shift from agriculture to crude oil and gas in the late 1960s, Nigeria’s growth had continued to be driven by consumption…
The African Development Bank (AfDB) has so far invested about $1 billion on small businesses and infrastructure in Africa, President of the bank, Dr. Akinwunmi Adesina, has said. Dr. Adesina disclosed this recently in Malabo, Equatorial Guinea, at a press conference to herald the AfDB’s 2019 Annual Meetings, due to open in the central African…
Lagos — Nigeria has been named among countries in the West Africa sub-region to benefit from off grid support programme by the World Bank. The board of the World Bank Group reportedly approved a series of funding for the Regional Off-Grid Electrification Project (ROGEP) for selected countries in West Africa and the Sahel region. The…
The Federal Government has concluded plans to introduce cargo delivery by rail to the Kaduna Inland Dry Port. Mr. Tahir Idris, Director, Special Duties, Nigerian Shippers Council (NSC) said in statement in Abuja recently, that the inauguration was scheduled to hold on May 7, at the facility’s premises in Kakuri, Kaduna State. Idris said in…
In order to encourage more innovations in the payment system, the Central Bank of Nigeria, is putting in place a Collateral Management Regime to regulate the activities of Fintech firms and startups in the country. The Director, Payments System Management Department, Sam Okojere, who represented the Governor of the CBN, Godwin Emefiele, disclosed this in…