AfDB identifies 14 sites for agro-industrial processing zones in Nigeria

The African Development Bank (AfDB) African Development Bank (AfDB) says it has identified 14 sites for the proposed special agro-industrial processing zones (SAPZs) in Nigeria. Banji Oyelaran-Oyeyinka, special adviser on Industrialisation to AfDB’s president, Akinwumi Adesina disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday. He said that […]

ECA to work with member states on improving social-economic wellbeing of Africa

Domestic Resources,ECA

The Economic Commission for Africa (ECA) primary focus is to support member states in their quest for sustainable development that promotes inclusive prosperity, economic opportunity and greater social wellbeing, says Sylvain Boko, principal regional advisor on planning and statistics at the ECA’s capacity development division. Speaking at the beginning of a two-day National Policy Dialogue […]

DHL, MallforAfrica join forces to take African products to global markets

DHL

Global express services provider, DHL, has announced a partnership a trangement with e-commerce giant, MallforAfrica’s new platform, Marketplace Africa, to help online retailers bring African-made products to the US and global market. According to a statement issued Monday by DHL, the partnership is geared at removing the barriers of isolation which African crafts people experience […]

A little inflation will not hurt Nigeria’s economy, investment analyst says

The hawkish monetary policy stance of the Central Bank of Nigeria (CBN) by holding benchmark lending rate constant at high 14 percent for almost two years based on the need to ensure sustained price and foreign exchange stability is having detrimental impact on productivity, according to Lekan Shitta-Bey, an investment banking analyst and managing consultant […]

Rising oil prices sustain Nigeria’s economic growth for the fourth quarter

Rising oil prices have contributed largely to Nigeria’s economy, which expanded for a fourth straight quarter in the first three months of 2018. According to growth figures released by the Nigerian statistical agency, the National Bureau of Statistics, gross domestic product expanded 1.95 percent in the three months through March, though slowing 0.16 percent quarter […]

World Bank pledges $8.8bn Nigeria investment

The World Bank has announced a pledge of $8.8 billion (N2.7 trillion) investment strategy to Nigeria for the 2019 fiscal year following the just concluded visit to Nigeria. The investment strategy, made in a statement monitored on Premium Times, would be implemented under the World Bank’s Nigeria Country Partnership Strategy (NCPS) through the International Development […]

Nigeria govt spent N1.5trn on capital projects in 2017, finance minister says

Kemi Adeosun, Nigeria’s finance minister, said Sunday that the country’s government spent more than N1.5 trillion on capital infrastructure in 2017. The minister stated this via her official Twitter handle, @HMKemiAdeosun, noting that the figure is higher than what was achieved in the 2016 budget. said the Federal Government’s debt management strategy was yielding the […]