Nigeria: Bill On Modernisation of Agriculture Will Transform Nigeria – Senate

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…

Nigeria: Free Trade Agreement Implementation May Drag Till June 2020

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…

U.S.-based medical group plans revamping Nigeria’s healthcare system

A multi-billion-dollar healthcare system in the United States, Montefiore Health System, has expressed readiness to help find a lasting solution to Nigeria’s healthcare problem. President of Montefiore, Prof. Phillip Ozuah, stated this when the Consul General of Nigeria in New York, Mr. Benayaogha Okoyen, visited the hospital to have a firsthand assessment of the facilities.…

AfDB approves $15m infrastructure credit for Nigeria

The Board of the African Development Bank has approved a $15m investment package for Infrastructure Credit Guarantee Company, to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit comprised a subordinated loan of $10m and a risk sharing facility of up to $5m. AfDB stated that the intervention…

Nigeria: USAID Launches $300 Million Agribusiness Investment in Nigeria

Nigerian entrepreneur Fajemi Gognaje, 35 years old, started a new business in 2016, selling agricultural inputs like seed and fertiliser. Under a new contract with Cultivating New Frontiers in Agriculture (CNFA), an international agricultural development organisation, the U.S. Agency for International Development (USAID), recently launched the new Feed the Future Nigeria Agribusiness Investment Activity. This…

No new gas projects will be approved without a zero flare policy – NNPC

The Nigerian National Petroleum Corporation (NNPC) has expressed its commitment to a zero gas flare regime for every new gas project, even as it trains its sights on commercializing existing gas flare projects for the benefits of the host communities and Country at large. Group Managing Director of the NNPC, Dr. Maikanti Baru, stated this…

Creating An Enabling Business Environment For Foreign Direct Investment In Africa

Welcome to the March Edition of our Feature. This feature highlights different traits and recommendations that Africa can adopt to attract and create an enabling business environment for Foreign Direct Investment (FDI). According to the State of African Cities Report, Africa’s share of total world FDI remains small at roughly 5%. This compares poorly to…