Aba traders raise alarm over alleged plan to takeover their shops
Godfrey Ofurum
August 30, 2022
By Godfrey Ofurum, in Aba Traders feel scammed by Abia State government Shop owners in the popular Ariaria International Market and Ahia-Ohuru (New Market), Aba, Abia State, whose shops were demolished by the state government for remodelling, have expressed fear that they may not get their shops back when the projects are completed. […]
Nigeria struggling to attain palm oil sufficiency as importation lingers
Onome AmugeAugust 29, 2022
Nigeria has recently recorded a decline in oil palm importation, with trade inflow data showing that importation dropped 46.9 percent to $186.7 million in 2021. The dip, according to industry analysts, is a significant step towards self-sufficiency considering that Nigeria imported $351 million worth of the commodity in 2020. The development has been attributed to […]
Modular refinery strategy back as presidency weighs petrol agony
Maduabuchi EfegadiAugust 29, 2022
BY MADUABUCHI EFEGADI Support for Niger Delta small scale producers Country to post $4bn loss to oil theft by end 2022 Move aimed to mop up artisanal refiners The Nigerian presidency is contemplating a return to supporting the establishment of modular refineries mainly by small-scale operators as an option to solve the […]
Zenith Bank raises gross earnings by 17% to N405bn in H1 2022
Grace AirhuleAugust 24, 2022
BY GRACE AIRHULE Zenith Bank Plc recorded impressive results for the half-year ended 30 June 2022, posting double-digit growth of 17 percent in gross earnings to N405 billion compared to N346 billion recorded in the corresponding period of 2021, according to the bank’s audited half-year financial results presented to the Nigerian Exchange on […]
Imo woos impact investors in employment-led industrial renaissance
Godfrey OfurumAugust 23, 2022
BY GODFREY OFURUM & DIKACHI ELEMBA, IN OWERRI Investors can tackle economic deprivation, poverty Targets digital economy to open state to the world, says Amaeshi Many of the social challenges experienced in the South East zone of Nigeria are mainly driven by economic deprivation and poverty, some stakeholders have observed. And […]
Global sports betting, lottery market size jumps 13% to $194.63bn in 2021
Maduabuchi EfegadiAugust 23, 2022
By Maduabuchi Efegadi As e-sports audience to surpass 530m in 2022 Nigerians spend N730bn annually on sector Sports betting and lottery, the activity of predicting sports results and placing a wager on the outcome, witnessed a global market size jump of 13 percent to $194.63 billion in 2021, up from 2020 figure of $172.89 […]
Nigeria’s aviation capacity deficit stings in airlines’ forex mess
PHILLIP ISAKPA & SADE WILLIAMSAugust 22, 2022
BY PHILLIP ISAKPA & SADE WILLIAMS Experts weigh in with solutions to crisis fallouts CBN urged to act on trapped airlines’ funds Passengers to suffer high fares, poor capacity, limited options Nigeria’s lack of capacity to compete in the international air travel space is responsible for its high outflow of foreign exchange to […]
Emirates to suspend Nigeria flights from September 1 over $85m trapped revenue
Onome AmugeAugust 18, 2022
Emirates Airlines, the flag carrier of the United Arab Emirates (UAE), has announced the suspension of its flight operations to Nigeria, effective September 1, 2022. The Dubai-based airline and subsidiary of the Emirates Group made the disclosure following its inability to repatriate foreign exchange earnings worth $85 million from Nigeria. In a statement issued on Thursday […]
UK’s new trading scheme to benefit Nigeria, other developing countries
Mike OchonmaAugust 18, 2022
BY MIKE OCHONMA United Kingdom’s international trade secretary Anne-Marie Trevelyan has launched the new Developing Countries Trading Scheme (DCTS), which will extend tariff cuts to hundreds of more products exported from developing countries, going further than the European Union’s generalised scheme of preferences. This is on top of the thousands of products which developing countries […]
Eye on Aba’s industrial, commercial rebirth as Geometric Power berths
Maduabuchi EfegadiAugust 16, 2022
BY MADUABUCHI EFEGADI & GODFREY OFURUM, IN ABA Long-touted potential set to be unleashed It will spur industrial growth – ACCIMA We’ll provide access road to plant – Gov Ikpeazu All eyes are now focused on Aba, an effervescent city of over two million people and Nigeria’s signpost for indigenous industrial, manufacturing, fabrication, […]