How Kano Became Northern Nigeria’s Commercial Nerve Center
Kano is to Northern Nigeria what Lagos is to the south (and the rest of the country)- a large, cosmopolitan city with commerce that’s big enough to dominate (and drive) the economy of the whole region. Many of the North’s biggest companies are headquartered there. Its industrial sector boasts some of Nigeria’s largest manufacturing facilities. […]
Did You Know? A Roundup of Key Business Facts from 2020
In 2020, Nigeria’s business environment was hit by multiple currents. A global pandemic touched down on our shores, eventually tipping the country into recession. Some businesses struggled; a few thrived. The borders were shut for much of the year, but there was global commerce of a different kind going on via the internet, on smartphones […]
Did You Know? Nigeria is the World’s Third Largest Producer of Sweet Potatoes
Sweet potatoes are starchy tuberous roots that are prized for their pleasant taste. When cooked, they may form part of a broader dish or can be consumed alone. This potato’s sweet taste sets it apart from other root-derived foods. Read more about Business Nigeria produces about 4 million tons of sweet potatoes annually. This makes […]
AfCFTA: Will The Land Border Be Opened By January?
Less than a month to the African Continental Free Trade Agreement (AfCFTA) going into full swing on January 1st, there have been concerns that the Federal Government may still not reopen the land borders which has been closed for 16 months. Read more about Business Even after Nigeria ratified its membership of the African […]
How Rising Food Inflation Will Rouse Nigerians From Their Slumber
In the latest statistics released by the Nigerian Bureau of Statistics (NBS) on November 16, inflation figures for the month of October stood at a whopping 14.23%. This figure is the highest that has been recorded in the last 13 months. All-item inflation was the highest in Sokoto, Edo, and Akwa Ibom while Oyo, Taraba, […]
Did You Know? Nigeria is Africa’s Second Largest Producer of Onions
Onions feature in a wide variety of meals consumed in Nigeria. They are present in stews and soups, grilled meat preparations, and even in snacks. Without them, much of our culinary delights would lack their characteristic taste. Read more about Business Nigeria produces a lot of this vegetable. Each year, about 1.4 million tonnes of […]
Fact Check: Is Nigeria Ceding Its Sovereignty With Chinese Loans?
It is a fact that no China-related loan agreements have been publicly shared by the incumbent government, ever since the Jonathan administration ended in 2015. The opaque nature of these loans and the alleged kickbacks which government officials have once been accused of taking from companies such as China’s EXIM, CCECC and so on […]
Fact Check: The NDDC Quagmire
The tussle between a number of state actors, legislators and government officials over the mismanagement of funds, amongst other drama at the Niger Delta Development Commission (NDDC), has been on for some weeks. Background: The controversy, however, did not heat up until the erstwhile Managing Director of the NDDC, Joy Nunieh, began to hurl […]
Micro, Small, And Medium-Sized Enterprises Day 2020
Every year, the world marks June 27 as its Micro, Small, and Medium Enterprises Day. It was introduced by the United Nations In 2017 when it resolved to recognize MSMEs for powering the global economy. Small businesses are important. They employ up to 70% of the global workforce and contribute half its GDP. Nine out […]
Nigeria is the World’s Fifth Largest Producer of Millet
Millet is widely available across northern Nigeria, where it’s used in a variety of food preparations. The pale yellow-brown cereal is harvested from a grass plant that grows in semi-arid regions. Much like cassava in the South, the crop is so commonly used that most locals don’t think much of its possible importance outside of […]
10 Point Opportunities For Nigeria In Covid-19 (B)
Enhancing the Economic Viability of Nigerian States Following from point 2 in the previous article, Covid-19 has further exposed the non viability of most Nigerian States. A recent report stated that state governments in Nigeria generate less than 25 per cent of their monthly income internally. In fact, there are a few states that depend […]
Critical 10-Point Opportunities For Nigeria In Covid-19
It is no longer in doubt to anyone that the Covid-19 pandemic has caused a grave devastation of many economies, and disrupted the way nations, their citizens, and businesses conduct their affairs. Several media talks, meetings, discussions, seminars, and conferences have been held and are still being held (online and offline) in dimensioning the scope […]
Tomato Jos Gets €3.9 Million to Build Irrigation and Tomato Processing Plant
Tomato Jos, a company that’s helping farmers in northern Nigeria increase their crop yields, has secured funding worth €3.9 million from a group of investors. The company will be deploying the funds to build a large tomato processing plant. Since its founding in 2014, Tomato Jos has worked with local tomato farmers to improve their […]
What Do Negative Oil Prices Mean for Nigeria’s Economy?
On Monday, April 20th, the world watched history unfold with dropped jaws: crude oil sold for below $0. If this doesn’t make sense to you, you’re not alone. Not many people understand how a thing could sell for minus $40, as a barrel of crude did at some point during the day. In practical terms, […]
CBN Adjusts Naira: Dollar Exchange Rate to ₦380 for $1
The Central Bank of Nigeria has revised the Naira-Dollar exchange rate for one of its forex windows. A dollar is now being sold for ₦380 at the Investors and Exporters (I & E) window of the country’s foreign exchange markets. The new regime replaces the previously existing rate of ₦360/$1. Read more about Business In […]
Nigerian In Focus: Ifeoma Ajumobi
The globe in this 21st century is increasingly becoming digitalized and Nigerians have not failed to use the platform presented in the tech industry to earn a living for themselves and promote the Nigerian economy. While many see the global advancement in tech as a medium to earn a living, few have chosen to see […]