Amid daunting challenges, PM Truss sings hope for UK economy
Onome Amuge
September 6, 2022
… to tackle lingering energy, other crises …but optimism low among citizens Newly elected UK Prime Minister Liz Truss has assured that the new government would take effective measures towards dealing with the country’s surging energy costs and consequent crisis through a freeze on energy bills and cut on taxes. Truss comes in as UK’s prime […]
IGR drive unsettles Imo’s multi billion naira cash cow hotel industry
Saby ElembaSeptember 6, 2022
By Saby Elemba, in Owerri Hoteliers give 14 days ultimatum Association may head to High Court Rise in unemployment feared Imo State, with the capital Owerri, arguably the Nigeria city with the highest concentration of hotels per square metre, is failing to deepen its strategies on how to turn that into […]
Poor export quality dents Nigeria’s potential in global ginger market
Onome AmugeSeptember 6, 2022
Nigerian ginger is considered one of the best in the world due to its unique aroma, pungency and high content of oleoresin oil which is a highly sought-after ingredient in the global market. Florence Edwards, a former president of the National Ginger Association of Nigeria (NGAN), who attested to the distinctive quality of the country’s […]
Access Bank fostering economic growth through SMEs support
Rosemary IwualaSeptember 6, 2022
By Rosemary Iwuala Small and Medium Enterprises (SMEs) are considered the engine of a country’s economic growth due to their significant contribution to job creation and poverty alleviation. In Nigeria, some 41 million Micro, Small and Medium Enterprises (MSMEs) currently employ about 59 million people (over 25 percent of the country’s total populace), according […]
Ahead COP27: Africa’s climate burden weighs, but financing must avoid debt
Francis KokutseSeptember 5, 2022
BY FRANCIS KOKUTSE, IN LIBREVILLE, GABON In focus at ACW2022 Libreville, Gabon Delay will worsen continent’s situation – UNFCCC official Gabon leads in forests preservation To rake in $2bn from carbon credits Even though it produces historically low carbon emission and contributes the least to the global climate crisis in comparison to more […]
G7 considering Russian oil price cap ‘urgently’ to limit Moscow’s revenues
Habeeb AdamuSeptember 3, 2022
By Habeeb Adamu The G7 industrialised powers on Friday said they would “urgently” move towards the implementation of a price cap on Russian oil imports in order to stop Moscow from raking in huge profits from soaring energy prices, a major source of funding for its war in Ukraine. Finance ministers from the Group of […]
World GDP drops as inflation rises in Q2 2022 – Fitch
Onome AmugeSeptember 1, 2022
The global economy succumbed to falling gross domestic product (GDP), alongside high and rising inflation in the second quarter of 2022 as supply-shocks and lingering pandemic-related disruptions dented the recovery of major economies, according to a recent report by Fitch Ratings. The leading provider of credit ratings and research for global capital markets, which described […]
Nigeria forex scarcity forces Delta Airline to suspend New York-Lagos flights
Sade WilliamsAugust 30, 2022
By Sade Williams/Business a.m. Nigeria’s lingering foreign exchange scarcity that has hit many international carriers with millions of dollars worth of ticket sales money trapped in the country may have got to Delta Airline, which introduced direct flights from New York to Lagos not too long ago, as it has decided it would suspend the […]
Aba traders raise alarm over alleged plan to takeover their shops
Godfrey OfurumAugust 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 […]