Border closure leaves Nigeria’s trade sector in recession
As 28.14m people threatened with unemployment Ben Eguzozie
Farmers target $100bn Dubai import market
Farmers cultivating different agricultural crops in Nigeria are hoping to tap into the $100bn annual agricultural import market of Dubai through the exportation of food items to the United Arab Emirates. The farmers said they would explore the export opportunities in the sale of agricultural produce to Dubai. They spoke in Abuja on Saturday at […]
Nigerian naira inches toward N400/$ depreciates 0.12% at investors, exporters window
The Nigerian naira depreciated on Wednesday against the dollar by 0.12 percent to N362.02 in the investors and exporters (IEW)– highest since August 2017— while it strengthened by 0.82 percent to N363 in the parallel market. Total turnover in the IEW fell by 45.11 percent to $176.98 million, consummated within the N359-N363/$ range as against […]
Nigeria’s external reserves growth steady, hit $46 billion
Nigeria’s central bank, CBN, said the country’s external reserves is steadily growing and currently stands at 46 billion dollars. Isaac Okoroafor, the CBN Spokesman, said in a statement Sunday that the reserves grew by about 3.2 billion dollars between February and March 2018, according to News Agency, NAN. He said that the reserves at the […]
African Union mulls 0.2% levy on imports to check foreign donor reliance
The African Union is planning a 0.2 percent levy on all eligible imports that enter a member country from outside the continent. This is to make it financially dependent and stop relying on western donations to fund its budget. The proposal, which would be deliberated at the 29th Summit of the African Union, is […]