Experts urge Nigeria to sign AfCTA, say pact indispensable to trade expansion
Chukwuemeka Obioma
May 14, 2018
Nigeria has been advised to reconsider its reluctance to sign the African Continental Free Trade Area (AfCFTA) agreement. According to a wire report, the call was made by some economic analysts in separate interviews in Addis Ababa. The analysts argued that AfCFTA is in the interest of Nigeria and wondered why the country suddenly decided […]
Nigeria’s failure to count, a stall on economic growth
Steve OmanufemeMay 14, 2018
Abba Eban, an Israeli diplomat, and politician, and a scholar of the Arabic and Hebrew languages, is often ascribed an old and popular line: “The Arabs never miss an opportunity to miss an opportunity.” This has rung true in Nigeria’s 58 years as a nation, where both leaders and the led demonstrate a humongous aptitude of […]
Unease at AFC over new CEO after strong ’17 results
Phillip IsakpaMay 14, 2018
An uneasy calm has enveloped the Africa Finance Corporation (AFC), a strong development finance institution conceived by Nigeria, in Africa, and for Africa, and which recently announced positive 2017 financial results across different performance indicators, over the appointment of a replacement for its outgoing president and chief executive, Andrew Alli, whose mandatory two-terms of five […]
Tourism accounts for nearly 10% of greenhouse gas emissions, new study reveals
Businessam StaffMay 13, 2018
Global tourism is a trillion-dollar industry. As the world has become richer and air travel cheaper, it’s little surprise that the industry contributes significantly to greenhouse-gas emissions. So far, however, estimates of the sector’s emissions haven’t been good enough. In 2008, the World Trade Organization (WTO) said the best figure it could find was that […]
Capital flows into Nigeria rise 594.03% to $6.3m in Q1 2018
Businessam StaffMay 11, 2018
Total capital flows into Nigeria rose by 594.03% percent year-on-year to $6,303.63 million in the first quarter of this year, compared to $908.3 million recored in same period of 2017, according to National Bureau of Statistics (NBS) figures released Friday. The is the fourth consecutive quarterly increase since Q2 2017, according to the statistics, following last year’s […]
African agri-tech grows by 110%, gets more than $19m investment in 2 years
Businessam StaffMay 11, 2018
There is a boom in the African agri-tech as the number of startups operating in the market grew 110 percent over the past two years, with over $19 million invested in the sector at the period, according to a recent industry report by Disrupt Africa, The report, Agrinnovating for Africa: Exploring the African, which tracks annual […]
Global oil price may hit $100 per barrel next year on disruptions of production, export in Venezuela, Iran
Businessam StaffMay 11, 2018
The collapsing oil production in Venezuela and potential export disruptions in Iran could push the price of Brent crude as high as $100 per barrel in 2019, analysts at Bank of America Thursday. The analysts said their target price for Brent, the global benchmark, was $90 for the second quarter of next year. But they […]
Nigerian stocks extend bearish run as selloffs pare market cap by N110bn in four days
Adesola AfolabiMay 10, 2018
The bearish run in the Nigerian equities market extended to the fourth trading session Thursday, paring market capitalization by N110 billion in the four trading sessions to close N14.820 trillion from an opening of N14.930 trillion Monday. The sustained profit taking at the Nigerian bourse equally dragged benchmark index, the NSEASI, by 40bps to settle […]
Nigeria to mobilise more revenues to drive growth plan as taxpayers’ base hits 19m
Businessam StaffMay 10, 2018
Kemi Adeosun, Nigeria’s minister of finance said Thursday that the Federal Government is set to mobilise more revenues to drive its growth plan for the economy, revealing that the country’s taxpayers’ base has hit 19 million in 2018. The minister made this known in Abuja at a meeting with a World Bank Mission of 10 […]
Nigeria to achieve 75% electricity access by 2020 as AfDB approves $1.5m for on-grid IPP solar power
Goddey OdinMay 10, 2018
The Nigerian government is on the path of achieving its national goals of reaching 75 percent electricity access by 2020 as it has received a $1.5 million support from the African Development Bank (AfDB) to electrifying unserved and underserved areas, particularly in the northern region where access rates are lowest. Specifically, the AfDB’s board of […]