Abuja Chamber of Commerce hails Minister of Industry, Trade & Investment for establishing Trade Intelligence Unit

The Director General Abuja Chamber of Commerce and Industry, Agabaidu Chukwuemeka Jideani has commended the Minister of Industry, Trade and Investment for setting up the National Trade Intelligence Unit. Speaking to stakeholders in Abuja today, Sir Agabaidu Jideani stated that the Trade Intelligence Unit (TIU) is very vital in enhancing effective decision-making and strategic planning…

March 21, 20240Comments

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How greed, politics and murky dealings nearly killed Aba power project

By Lolade Akinmurele The world was a very different place when Geometric Power first agreed with the federal government in 2005 to generate and distribute power in Eastern Nigeria’s industrial hub of Aba. For instance, Olusegun Obasanjo was Nigeria’s president at the time, a position he would hold for another two years until 2007. Alex Otti, the…

February 27, 20240Comments

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World Bank says NNPCL lack transparency on subsidy, dollar revenues

World Bank has announced that the Nigeria National Petroleum Corporation Limited (NNPCL) is not transparent about the financial gains from fuel subsidy removal. This extends to subsidy arrears that are still being deducted and the impact of subsidy removal on federation revenues, the bank noted. The Washington-based made this call in its Nigeria Development Update,…

December 14, 20230Comments

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Nigeria among 10 African countries with the highest debts to the IMF

By Chinedu Okafor Business Insider Africa in this report lists the top 10 African countries including Nigeria — a giant amongst them all with abundant natural resources but hooked on mismanagement and borrowing —hugely indebted to the International Monetray Fund (IMF). The International Monetary Fund (IMF) is a key player in global finance, offering monetary…

December 10, 20230Comments

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UK Court awards £20m to Nigeria in P&ID case victory

In a major development in the long-running legal battle between Process & Industrial Developments Limited (P&ID) and the Nigerian government, a UK court has awarded Nigeria £20 million in damages and compensation in the long-running $11 billion P & ID case. This ruling follows Nigeria’s historic victory in October 2023, which saw the court quash…

December 10, 20230Comments

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Nigeria and IATF 2023; A post mortem …

By Nik Ogbulie Curtain on the Intra-African Trade Fair 2023 fell just five days ago, after an class rehearsal of the 2018 edition on the same venue in Cairo, Egypt. What has been instructive from the gathering of about 30,000 people is not the error-free delivery of the event better know as the most important…

November 21, 20230Comments

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How CBN colluded with IMF, World Bank to frustrate Nigeria/China currency swap

By Lillian Okenwa As Nigerians battle rising inflation with the naira gasping for breath, there are indications that the Bretton Woods Institutions are helping with tightening the noose. This is because despite the nearly $2.5 billion currency swap deal between Nigeria and China a little over five years ago, the Nigerian business community has been…

November 4, 20230Comments

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Like Kenya, Rwanda announces visa-free entry for African countries

The journey towards ease of travel around Africa is gradually becoming a reality with Rwanda announcing visa-free entry for fellow African states. Data obtained from the United Nations Economic Commission for Africa reveal that President Paul Kagame made the announcement in the capital city of Rwanda, Kigali. There, he promoted Africa's potential as "a unified…

November 3, 20230Comments

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CAC, SMEDAN, SON, 11 others get new CEOs

Nigeria’s Corporate Affairs Commission (CAC), Small & Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Standards Organisation of Nigeria (SON) are among the 11 agencies and parastatals of Federal Ministry of Industry, Trade and Investment that have just welcomed new Chief Executive Officers (CEOs). President Bola Tinubu gave approval for the appointment of CEOs…

October 13, 20230Comments

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Cardoso, Herbert Macaulay’s scion assumes duty as CBN governor

Dr. Olayemi Michael Cardoso, the great grandson of Herbert Macaulay whose photo is on One Naira note on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the Central Bank of Nigeria (CBN), pending his confirmation by the Senate. This followed the resignation of Mr. Godwin Emefiele as Governor…

September 22, 20230Comments

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