Some truly great debates out there will have people bickering over them for centuries to come. Debates like what came first, the chicken or the egg? Is a tomato a fruit or a vegetable? But one of the greatest debates of all concerns coconuts. Are coconuts a fruit or a nut? This question has brought […]
About eight poorest countries including Nigeria face grim economic futures with a median GDP hit of -20% by 2050 and -64% by 2100 under current climate policies. A study published by Christian Aid a few months ago highlights the devastating economic impact climate change will inflict on the African continent, even if the world limits […]
The Nigerian Export Promotion Council (NEPC) has reaffirmed its commitment to collaborate with key stakeholders in developing and promoting the non-oil export sector. The Executive Secretary of NEPC, Dr. Ezra Yakusak, said this at the interactive dinner for Ambassadors/High Commissioners and development partners in Nigeria on Friday in Abuja. According to Yakusak, NEPC cannot effectively […]
Nigeria’s non-oil exports rose by 29 percent, year-on-year, YoY, to $6.56 billion in ten months, reflecting the impact of Federal Government efforts to boost foreign exchange inflow from non-oil sources as well as favorable commodity prices in the international market. The figure was $4.58 billion in the corresponding period of 2021 (10M’21).
Deposit Money Banks borrowed the sum of N21.87tn from the Central Bank of Nigeria via the Standing Lending Facility window and Repurchase Lending platform in 2020, according to the CBN financial data. This represents a 260 percent increase when compared to the N5.744tn recorded via the same windows in 2022. It, however, represents a 19.3 […]
Cabbage farmers in the northern and central parts of Plateau have said the cultivation of cabbage has been very favorable because of the well-drained sandy loam soil and the climate of the areas. Plateau State is the home of exotic vegetables, including cabbage, and stakeholders said due to the cool weather condition, the state produces […]
The Nigeria Customs Service, Area II Command Onne Port, Rivers State Command generated a total sum of Two hundred and Forty-Two Billion, Ninety Million, Six Hundred and Twenty-Nine Thousand, Three Hundred and Nine Naira, twenty-nine kobo (₦242,090,629,309.29) from duty paid on imported goods in 2022. This was made known in a press release on Monday […]
Export Trade: FCMB rallies operators to diversify and stimulate the economy Nigeria’s vast non-oil endowment must be urgently leveraged to diversify and expand its revenue base, reduce the dependence on crude oil for foreign exchange earnings, and stimulate rapid economic growth. Policymakers, financiers, export trade experts, and value chain players insisted on this in Lagos […]
In Togo, the African Development Bank-supported Agro-Food Processing Project hits its stride In the pilot Agropoli of Kara, located some 423 kilometers north of Lomé, the capital city of Togo, there is a constant hum of bulldozers and harrowers. A few meters away from the deafening noise, engineers and agricultural technicians are supervising the work […]
The Federal Government may present a supplementary budget to the National Assembly due to a further depreciation of the naira and galloping inflation that have made the 2023 budget nearly unrealistic. FG plans supplementary budget over rising inflation, depreciation The 2023 budget benchmarks the foreign exchange at N435/dollar and inflation at 17.10 percent but […]
