ECONOMY

Market Awaits Unemployment Data for Signs of Meaningful Recovery in the US

The USD last Friday enjoyed its strongest rally since November 2013, hitting 1.3508 in response to buoyant retail and consumer data indicating that the US economy is improving. This data has further boosted speculation that the US Federal Reserve will

FG Approves N1.9 Bn for Onitsha-New Haven Power Transmission Project

The Federal Government has approved a sum of N1.9 billion for the supply of a 746-kilometer of aluminum conductor composite core reinforced (ACCR) to be used for the re-conduction of the Onitsha New Haven 33okv transmission line. The approval was

US Non-farm Payrolls Drop Drastically While Non-manufacturing Sector Slows Down

The second week of 2014 included a number of significant economic data releases in the European Union, with the German Consumer Price Index (YoY) for December leading the frontline on January 6th, released at 1.4% as expected and acting as

TEDx Maitama: Overcoming the Fear of Vested Interests – Sanusi Lamido, CBN Governor

Hello everyone and good morning. I’m very happy to be here with you. Just to tell you that I am a rather outdated person. I never really knew what the TEDeX event was, and when my daughter spoke to me

Governor Fashola Signs N489.69 Billion Budget Into Law

Lagos State Governor, Babatunde Fashola, yesterday, signed the state’s budget for 2014 into law. The N489.69 billion budget is aimed at completing current projects in the state. Governor Fashola signed the budget at the State House in Alausa, Ikeja, less

Dangote to Complete 5 Cement Plants Across Africa

Dangote Cement, Africa’s biggest cement manufacturer, has announced it will complete five cement plants spread across the continent this year. The organisation revealed that the plants, currently at different stages of construction, will increase productive output by 13.5 million metric

Lagos to Begin Prosecution of Road Vandals

Mr. Gbenga Akintola, Executive Chairman, Lagos State Public Works Corporation, has announced that people who indulge in activities causing damage to roads in the state will soon be prosecuted. The chairman noted that the Corporation was working earnestly with task

Nigerian Export-Import Bank Plans Partnership with Nigerian Export Promotion Council

The newly appointed Executive Director and Chief Executive of the Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, was on a courtesy visit to the Managing Director and CEO of the Nigerian Export-Import Bank (NEXIM) at the bank’s headquarters in

Nigeria To Become a Global Economic Powerhouse in 2015 – Jim O’Neill

Renowned economist Jim O’Neill has tipped Nigeria as one of the four nations that would lead the global economy in 2015. In an interview with Al Jazeera, O’Neill, who coined the term BRICS (an acronym for Brazil, Russia, India, China,

Tunde Lemo Retires from CBN on January 15

Mr. Tunde Lemo, Deputy Governor, Central Bank of Nigeria (CBN), is scheduled to retire from the apex bank on January 15 after a decade of service, according to reports by Leadership Newspaper. Lemo was appointed deputy governor on January 1,

Lagos to Launch Electronic-based Land Survey Verification Scheme

The Lagos State Government has announced plans to make procurement of property documents more efficient and eliminate fraudulent activities in the housing sector through the introduction of a computer-based land survey verification system. Acting Surveyor-General of the state, Joseph Agbenla,

Lagos Ranks in Top 10 Mega City Migration Destinations

Lagos has been ranked among the top 10 choice destinations for rural-urban migration in the world. According to data collected from social networking site, Facebook, which was published in the United Kingdom’s Daily Mail, Nigeria’s commercial capital, Lagos, is one

Arik Launches Mobile Booking App

Good times are here for Nigerian air travelers as Arik Airlines has launched a mobile and tablet booking app through which passengers can book and make payments for its tickets. According to a statement released by the airline’s spokesperson, Ola

AfDB Approves $187 Million to Stimulate Private Investment in the Nigerian Power Sector

The Board of Directors of the African Development Bank Group (AfDB) approved an African Development Fund (ADF) Partial Risk Guarantee (PRG) program of US $184.2 million , and an ADF loan of US $3.1 million, for capacity building, to support

AfDB Gathers Partners in Tunis to Advance Sustainable Energy for All in Africa

The African Development Bank as host of the Sustainable Energy for All (SE4ALL) Africa Hub organized a two-day workshop in Tunis with representatives of partner institutions. The workshop was organized in collaboration with the Global Facilitation Team headed by

Agribusiness Set to Boom in Africa – DHL

It is no secret that Africa is on the rise and increasingly offering lucrative opportunities to local businesses due to the continent’s steady economic growth, increased disposable income and high consumer confidence. Charles Brewer, Managing Director of DHL Express Sub-Saharan

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