IITA floats five-year plan to raise Nigeria’s cocoa productivity

The International Institute of Tropical Agriculture (IITA), Ibadan on Tuesday launched a five-year “Cocoasoil Project’’ to improve cocoa production in Nigeria. Richard Asare, the project coordinator, said the major objective of the project  is to develop Integrated Soil Fertility Management (ISFM) recommendations that will be integrated into extension messages for cocoa intensification and avoid deforestation. […]

Barkindo says oil prices rising on perceived supply shortages amid OPEC’s revised oil demand forecast

Current oil prices reflect market “perceptions” of a potential supply shortage rather than an actual inability of Organisation of Petroleum Exporting Countries (OPEC) and its key producer allies to pump oil, Mohammad Barkindo, the cartel’s secretary general has said. But despite the belief held by Barkindo that the global oil market remains “well supplied”, the […]

Nigerian stocks rebound on bargain hunting in bellwethers, benchmark index up 0.11%

Nigerian stocks Thursday rebounded on bargain hunting in bellwethers especially STANBIC (+4.8%), NESTLE (+0.7%) and FLOURMILLS (+7.6%), which drove the All Share Index (ASI) up by 0.11 percent to 32,417.82 points. Consequently year-to-date (YTD) loss moderated to -15.2 percent just as market capitalisation increased to N11.8 trillion. Also, activity level strengthened as volume and value […]

AFC gets $300m facility from Chinese export-import bank

Africa Finance Corporation (AFC), an infrastructure development finance institution, has announced its successful acquisition of a $300 million loan facility from the Export-Import Bank of China (CEXIM). The acquisition consists of a $200 million 5-year loan and a $100 million 5-year standby facility for general corporate purpose. The facility from CEXIM marks AFC’s inaugural financing […]

World Bank’s new human capital index says Nigeria is underinvesting in its people as it ranks 152 out of 157 countries

A recent World Bank Human Capital Index (HCI) launched Thursday in Bali, Indonesia has ranked Nigeria at the 152nd position amongst indexed countries of the world. The HCI constructed for 157 countries measures how much countries lose in economic productivity by under-investing in their people. Specifically, it conveys the productivity of the next generation of […]