British Council, Prince’s Trust offer N2m grant to 8 young entrepreneurs

Onome Amuge The British Council and Prince’s Trust International (PTI) have awarded eight Nigerian entrepreneurs a total of N2 million, as part of the Sustainable Enterprise Challenge Programme (TSECP).  The programme, which kicked off with 60 participants aged between 18 and 35 years, came to an exciting conclusion on March 15, 2024, at the Zone […]

Slice off Nigeria’s FX pressure in Afreximbank $2.25bn to NNPCL

Afreximbank pledges financial succour to Africa’s $250bn climate finance deficit

Onome Amuge Nigeria took a little slice off its foreign exchange pressure following the successful arrangement by the African Export-Import Bank (Afreximbank) of a syndicated $3.3 billion crude oil prepayment facility sponsored by the Nigerian National Petroleum Company Limited (NNPCL) and its disbursement of $2.25 billion of the amount to the national oil company. A […]

Africa’s VC funding slump raises concerns over startup viability

Onome Amuge   Africa’s tech ecosystem has experienced a range of performance outcomes since the start of the year. While venture capital (VC) funding has not reached the record levels seen in 2021 and 2022, regulations and standards have taken center stage in efforts to govern and support the growth of the digital economy across […]

Equities market appreciates 0.4% as investors hunt bargain

Investors at the equities segment of the Nigerian Stock Exchange kick-started the week searching for bargains in fundamentally sound stocks. Buying interest in bellwether stocks such as Nigerian Breweries (+5.3%), Access Bank (+1.6%) and Guaranty Trust Bank (+0.5%) improved the All Share Index by 0.4 percent to 30,745.05 points. Market capitalisation thus rose by N40.5 […]

FG Rakes in $9.5b from over subscribed bonds

Nigeria’s fund drive for project finance received a major boost on Wednesday as the country’s $2.86 billion Eurobond offering to international investors was over subscribed by 327 percent. The over subscribed figure stands at $9.5 billion. Zainab Ahmed, the minister of finance in a thread of tweets Thursday morning, noted that the fund raising was […]

AfDB approves $100m senior loan to Nigeria’s Indorama Fertilizer

The African Development Bank has approved $100 million senior loan to Nigerian firm, Indorama Eleme Fertilizer & Chemicals Limited, to support the company’s plans to double its fertilizer production from 1.4 million tons of urea to 2.8 million tons per annum. The Bank’s intervention follows a previous loan extended to Indorama Fertilizer in 2013 for […]

Election funds, minimum wage review to change inflation curve in Q2

The impending release of election funds, budget passage in May and the minimum wage review are seen feeding into prices, which would change the current inflation curve, according to analysts. They say the demand-pull effect of increased liquidity could exacerbate inflationary pressure despite headline inflation (year-on-year) declining for the 14th consecutive month to 13.34 percent […]