Economy Archives — Page 153 of 258

November 12, 2022 No Responses

Global Food Imports To Hit $2tri

Food import costs globally are projected to reach nearly two trillion dollars this year, or higher than previously expected, the UN Food and Agriculture Organisation (FAO) has said. FAO, in a report published on Friday, stated that the new forecast...

November 10, 2022 No Responses

Access Bank Budgets $1b To Boost SMEs In Africa

Access Bank Plc is investing a billion dollars to boost 10 million Small and Medium Enterprises (SMEs) in Africa over the next five years. Mr Seyi Kumapayi, the Executive Director in charge of African subsidiaries said this on the sidelines...

November 10, 2022 No Responses

Investors Gain N9b On NGX

The Nigerian Exchange (NGX) on Wednesday recorded N9 billion gain due to price appreciation in Dangote Cement and some tier-one banking stocks. The primary drivers of the market were Dangote Cement, Guaranty Trust Holding Company (GTCO), Zenith Bank and Unit...

November 9, 2022 No Responses

Agusto Upgrades EDC Nigeria Money Market Fund Rating

Pan- African credit rating agency, Agusto & Co has upgraded the rating of EDC Nigeria Money Market Fund (‘EDC MMF’ or ‘the Fund’) to A(f). Funds rated ‘A(f)’ are deemed to have low to moderate exposure to downside risk, impairment...

November 8, 2022 No Responses

Nigeria, 99 Others Back Agreement Against Illegal, Unregulated Fishing

Global action to fight illegal, unreported and unregulated (IUU) fishing has intensified as Nigeria and 99 other countries have now committed to the UN Food and Agriculture Organisation’s Agreement on Port State Measures (PSMA). The PSMA is the first b...

November 7, 2022 No Responses

AfDB Mobilises $31b Investment Interest

The African Development Bank (AfDB), has drawn 31 billion dollars in investment interest from African and global investors. In a statement issued by the Communication and External Relations unit of the AfDB, President of the bank, Dr Akinwumi Adesina sai...

November 6, 2022 No Responses

FIRS Boss: Dialogue Crucial In Strengthening Tax Administration

Tax dialogue is a tool for engendering tax compliance as well as means of strengthening tax systems, the Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami, has said. Nami said this at the 2022 Kaduna State Tax Dialogue, held...

November 6, 2022 No Responses

COVID-19: Akwa Ibom Disburses N31m Grant To 401 Beneficiaries

The Akwa Ibom Government on Saturday disbursed N31 million to 401 entrepreneurs in Small and Medium Enterprises (SMEs), to support their businesses affected by the COVID-19 pandemic. The News Agency of Nigeria (NAN) reports that the funds which wer...

November 4, 2022 No Responses

Manufacturers Seek End To forex, Energy Crisis

The Manufacturers Association of Nigeria (MAN), on Thursday, tasked the Federal Government and monetary authorities to address the foreign exchange and energy crises responsible for the unfavorable movements in manufacturing indicators. Mr Segun Ajayi-Ka...

November 4, 2022 No Responses

Market Capitalisation Drop By N25b

The equity market extended losses on Thursday as the market capitalisation shed N25 billion or 0.10 per cent to close at N24.094 trillion from the 24.119 trillion on Wednesday. Similarly, the All-Share Index dipped by 46.32 points or 0.10 per...

November 4, 2022 No Responses

Sterling Bank Reaffirms Commitment To Agriculture

Chief Executive Officer (CEO) of Sterling Bank Plc, Mr. Abubakar Suleiman has said the bank is ready and willing to invest more in Nigeria’s agricultural sector, having invested more than N100 billion; a figure that represents about 15 percent of...

November 2, 2022 No Responses

World`s Ten Most Indebted Countries

Covid-19 has pushed many states’ debts above annual income, causing the global government debt to reach new record highs. According to the S&P Global Ratings report, the combined debt of all governments worldwide is expected to climb by 9.5% ...

November 2, 2022 No Responses

NPA Inaugurates Export Processing Terminal In Lagos

The Nigerian Ports Authority (NPA), on Tuesday, inaugurated export processing terminal, Diamond Star Export Processing Terminal in Lagos. The terminal situated at Lilypond in Ijora, would ensure speedy and seamless processing of export cargoes accessing ...

November 2, 2022 No Responses

Blue Economy Takes Centre Stage As NIMASA Organizes Senior Management Strategy Session

As part of efforts to review performance and strategize to achieve its mandate the Management of the Nigerian Maritime Administration and Safety Agency, NIMASA has organized a 3-day Management strategic session. Speaking during the opening of...