ECONOMY

Royal Jordanian Opens a New Route to Lagos and Accra

The national carrier of Jordan, Royal Jordanian Airlines, launched regular service between Amman and each of Lagos, the economic capital of Nigeria, and Accra, the capital of Ghana – this week. The new additions will raise the number of the

Nigeria To Get $3 Billion Loan from China Next Week

President Goodluck Jonathan will travel to China next week to sign a loan agreement with the Chinese Government for $3 billion. The loan is part of the $7.9 billion external borrowing plan approved by the legislature last year. The Nigerian

A Humble Nigerian Carpenter Rethinks Latrines

Lately, Martin Dewaun Iyo’s humble carpentry business has seen a buzz of activity in what is normally a slow trade in cabinets and doors. Mr. Iyo has invented a new product – a ventilated drop-hole cover for the latrine. It

Ecobank Nigeria Appoints Deputy Managing Director

Ecobank Nigeria has appointed Anthony Okpanachi as its Deputy Managing Director, a statement from Ecobank group has revealed. It says, “Okpanachi was the Chief Executive Officer of Ecobank Kenya and Regional Head for East Africa, comprising Kenya, Uganda, Tanzania, Rwanda

Nigeria’s $1 Billion Bond Four Times Oversubscribed

Nigeria raised $1 billion in the first dollar bond issued by a developing nation since the market went into a tizzy in May. The bond issue was four times oversubscribed, said Nigeria’s Finance Minister Ngozi Okonjo-Iweala in a conference call

NIBSS Adds Heritage Bank To Its Platform

Heritage Bank Nigeria has been added into the Nigeria Interbank Settlement System (NIBSS). This will allow new and existing customers of the bank to make payments and transfer funds through point of Sale (PoS) terminals, ATMs, and other e-payment platforms.

The White House: Fact Sheet of the New U.S. Initiative To Power Africa

Two days ago in Cape Town, South Africa, U.S. President Barack Obama announced Power Africa, a new initiative to double access to power in sub-Saharan Africa. More than two-thirds of the population of sub-Saharan Africa is without electricity, and more

CBN Defers Cashless Policy Charges for States, Till October

The Central Bank of Nigeria has deferred the implementation of Cashless Policy charges on lodgments and withdrawals in Federal Capital Territory (Abuja), Abia, Anambra, Kano, Ogun and Rivers States so as to allow customers adjust to the new policy. The

The 2013 BusinessDay Conference on AgriBusiness and Food Security

Agriculture is the economic mainstay of most households in Nigeria and is a significant sector in Nigeria’s economy. The important benefits of the agricultural sector to Nigeria’s economy, the government/public sector and the private sector, cannot be over-emphasized. Therefore as

FG, In 2013, Has Registered 10 Million Farmers, Agriculture Minister Says

Dr. Akinwumi Adesina, Nigeria’s Minister for Agriculture and Rural Development, has said that 10 million farmers had been registered in 2013 under the Growth Enhancement Support scheme (GES). He made the statement during a courtesy visit to the Governor of

Abraaj Group Acquires Majority Shareholding in Fan Milk International

One of Denmark’s international success stories, Fan Milk International A/S, is seeing a change of ownership. The Emborg family from Aalborg, who are the majority shareholders, have together with the private equity fund Maj Invest Equity and the management, entered

Nigeria Embassy Opens in Qatar

The Nigeria Consular office officially opened in Qatar, this week, after many weeks of expectation from the Nigerians living there. The office will be responsible for a couple of services that include document attestation, electronic passport issuance, police character certificate,

Technova Africa Group to Build $200m Line Pipe Mill in Ologbo, Edo State

After the purchase of 150 acres in Ologbo and a multilevel service-agreement with Original Equipment Manufacturer (OEM), PSL Limited; Technova Africa Group is set to commence the building of a 200,000 metric tonnes per annum (MTPA)-capacity line pipe mill and

The Amnesty Initiative: The Niger Delta’s Struggle for Equality

Pre Amnesty Era The Niger Delta covers 20,000 km² within wetlands of 70,000 km² formed primarily by sediment deposition. Home to 20 million people and 40 different ethnic groups, this floodplain makes up 7.5% of Nigeria’s total land mass. It

FERMA Plans 10 Lanes for Lagos/Ibadan Expressway

The Chairman of the Federal Road Maintenance Agency (FERMA), Jide Adeniji, has revealed government plans to make Lagos/Ibadan Expressway 10 lanes. He said this in Lagos yesterday, “You can see that there has being a tremendous improvement on our roads,

Internet Is Coming To Rural Adamawa, Sure-P Reveals

The Adamawa coordinator of the Subsidy Reinvestment and Empowerment Programme (SURE-P), Alhaji Yunusa Belel, has said that they would provide internet to rural areas in Adamawa. He said they would collaborate with GSM networks, to provide services in rural areas

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