Report shows grim 5-year outlook for Nigeria’s informal businesses

Details stages of struggles to stay afloat  Onome Amuge A worrying trend has been exposed in Nigeria’s informal sector, with a new report revealing that most businesses within this sector fail to survive beyond five years, reflecting the harsh reality facing these businesses which contribute over half of Nigeria’s gross domestic product. The 2024 Informal […]

Abia’s N1bn interest-free loan scheme to empower 10,000 local entrepreneurs

Signature, new commercial bank, berths to offer better customer experience 

Business a.m. Governor Alex Otti of Abia State has launched a N1 billion interest-free revolving loan to empower 10,000 nano and small scale business owners across the 184 wards in the 17 local government areas of the state. At the launch in Umuahia, the state capital, the governor explained that the Abia State Cooperative Support […]

Cross River invests N6bn, begins massive cultivation of farm produce

  Clears 12,000 ha for rice, cassava, maize, wheat  To engage 4,000 as onboarding out-growers  Ben Eguzozie, in Calabar Cross River, a littoral state has flagged off land clearing and development of 12,000 hectares of farmland for onboarding out-growers. The out-growers would cultivate rice, maize, cassava, wheat, coffee and cowpea. Cross River is a major […]

1-yr on, Cross River under Otu sees IGR uptick of N36bn

Governor says foundation laid for strong economy Ben Eguzozie   In just the first year under Governor Bassey Otu, Cross River has seen an uptick in its internally generated revenue (IGR) of N36 billion or 60.6 percent as of May this year up from N22.6 billion in June last year. Additionally, N16.3 billion was recorded between […]

Cross River lines Afreximbank to hunt $3.5bn for Tinapa, Obudu, airport  

Ben Eguzozie Cross River State is beginning the rebuilding of the multi-billion-naira Obudu Cattle Ranch resort, Tinapa Business & Leisure Resort and the Obudu International Airport with a $3.5 billion mandate facility from the African Export-Import Bank (Afreximbank). The three high-impact infrastructure facilities, with market worth of more than N300 billion, in their glory days […]

Cross River banks on fresh management team to boost economic development

 Team to analyse workable model before proposing Ben Eguzozie Cross River, a state struggling to wriggle itself out of the worst-performing unemployment states list, has come with an economic management team (EMT) for the first time in more than 20 years. This is as Governor Bassey Out inaugurated a nine-member economic management team, which he […]

Bayelsa to tap $1.5trn global blue economy with new ministry

  Sector generates $300bn for Africa with 49m jobs – AU Ocean resources, next world’s big economic frontier – World Bank, UN, OECD Nigeria, with 850km coastline, yet to harness BE   Ben Eguzozie   Bayelsa, a Nigerian oil producing littoral state, is set to tap into the multi-trillion-dollar global blue economy, with the planned […]

HOPE, creative human resource initiative, taps oil region youths

Ben Eguzozie HOPE, a creative human resource initiative designed to mop up thousands of especially idle and unemployed young people in the oil region, has registered nearly half-a-million people, in a move to open a few frontiers to explore the creative human resource of youths in the oil region. The oil producing states of the […]

Abia aims to commence oil production with modular refinery in 2025

Business a.m The Abia State Government has announced that the modular refinery at the Abia Industrial Innovation Park (AIIP) is scheduled to become operational by 2025.  Okey Kanu, Abia State’s Commissioner for Information and Culture, made the disclosure during a press conference following the state executive council meeting held in Umuahia. He said that the […]

Jigawa targets 2m tonnes of local wheat to boost economy

Business a.m The Jigawa State government says it plans to produce two million tonnes of wheat for export and agricultural self-sufficiency through the National Wheat Development Programme and the state’s wheat programme. Umar Namadi, governor of Nigeria’s largest wheat producing state, expressed confidence that the country possessed the capacity to export wheat under the initiative […]