Africa strains under heavy debt load as AfDB president, Adesina laments $824bn debt, opaque resource loans
Post AMUGE
3 hrs
Business a.m. Africa’s immense economic potential is shackled by the shadows of non-transparent resource-backed loans, entangling debt resolutions and casting a pall over the trajectory of countries’ future growth, according to Akinwumi Adesina, president of the African Development Bank (AfDB). In a media conversation with journalist Yinka Adegoke at the Semafor Africa Summit on the […]
Gavi, global vaccine alliance, generated $220bn in economic benefits for countries in 23 yrs
Post AMUGE18 hrs
Saves 6 lives every minute Malaria vaccine, latest product, reduces child mortality by 13% Calls on govts to invest in immunization; seeks more global partners, people to join call Launches ‘humanly possible’ campaign on humanity’s vaccines achievements Gavi, the global vaccine alliance, rendering a report on its activities since its establishment in 2000, says it […]
Airtel, major telecom provider, petitioned over corporate business negligence, lack of compassion
Post AMUGEApril 24, 2024
Company rebuffs efforts to care for victims Ben Eguzozie Airtel Networks Ltd, a major telecom service provider in Nigeria, has been petitioned by a human rights lawyer, Olubunmi Odeniyi over an explosion resulting in an inferno at one of its base transceiver stations (BTS) at Abaranje, Ikotun, in the outskirts of Lagos State, which […]
Cross River banks on fresh management team to boost economic development
Post AMUGEApril 24, 2024
Team to analyse workable model before proposing Ben Eguzozie Cross River, a state struggling to wriggle itself out of the worst-performing unemployment states list, has come with an economic management team (EMT) for the first time in more than 20 years. This is as Governor Bassey Out inaugurated a nine-member economic management team, which he […]
Nigeria’s hydrocarbon reserves come alive as NNPC Ltd, Newcross commence 12,000bpd from Awoba Unit Field
Post AMUGEApril 24, 2024
Business a.m. In a bid to fully maximise the value of Nigeria’s rich hydrocarbon assets and boost the nation’s coffers, NNPC Ltd and Newcross Exploration and Production Ltd have collaborated to revive the dormant Awoba field, a once-productive asset that had fallen victim to the effects of crude oil theft and evacuation issues. The strategic […]
Nigeria’s inflation to ease in Q2 ’24, say analysts at Cowry Asset
Post AMUGEApril 23, 2024
ONOME AMUGE & JOY AGWUNOBI IN LAGOS, NIGERIA The first quarter of 2024 will be remembered as a turbulent period in Nigeria’s economic history, as the nation endured the wrath of inflationary turmoil. The headline inflation rate soared to 33.20 percent in March 2024, reaching its highest level since March 1996, a grim milestone that […]
Access Holdings chairman bullish about raising $300m new capital
Post AMUGEApril 23, 2024
Our shareholders have mind set on recapitalisation Has over 800,000 shareholders In 2024 Access Holdings is much older, wiser, stronger, larger Is significantly respected by the capital market PHILLIP ISAKPA IN STOCKPORT, UK Aigboje Aig-Imoukhuede, the newly elected chairman of Access Holdings Plc, who chaired his first meeting of shareholders over the weekend, is […]
ITTF work plan on climate change financing endorsed by members in US
Post AMUGEApril 22, 2024
PHILLIP ISAKPA, STOCKPORT, UK Set to push tax options at COP30 in 2025 $2.4trn funding gap exists Invites nations, experts, stakeholders to join effort Colombia joins as new member at meeting A two-year work plan for the International Tax Task Force to come up with measures to raise additional finance for equitable […]
Nigeria banks on low-interest $2.25bn World Bank loan to boost economic recovery
Post AMUGEApril 22, 2024
Business a.m. The Nigerian government has qualified for processing a loan from the World Bank, totalling $2.25 billion at a low interest rate of one per cent. Wale Edun, minister of finance and coordinating minister of the economy made the disclosure at a joint press conference conducted by the Ministry of Finance and the Central […]
CBN’s FX Interventions top $581m in 2024- FMDQ
Post AMUGEApril 19, 2024
Business a.m. The Central Bank of Nigeria (CBN) has committed $581 million to foreign exchange interventions at the Nigeria Autonomous Foreign Exchange Market (NAFEM) in the first few months of 2024, according to data released by the FMDQ Securities Exchange. Despite the significant FX interventions by the Central Bank of Nigeria in NAFEM, only a […]