Nigeria @61: The Successes, Challenges, and wayforward

By Muda Yusuf OVER  the past six decades, the Nigerian economy has transformed significantly from an agrarian economy to an economy driven largely by services and oil and gas. While the agricultural sector contributed an estimated sixty percent (60%) to the country’s GDP in the sixties, its contribution has reduced to about twenty-three percent (23%) […]

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Nigeria falls behind Egypt in Africa’s top three FDI —AfDB reports

Nigeria has fallen behind Egypt in Foreign Direct Investment, according to the African Development Bank, which released a new report that four African countries accounted for 80 percent of investments coming into the continent. Nigeria was placed among the top three, with South Africa coming third, the new report titled, ‘Entrepreneurship and Free Trade Volume […]

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FG revokes 5,793 mining licences in six years, operators blame insecurity

The Federal Government has revoked at least 5,793 inactive mining licences, investigation by The PUNCH has revealed. Our correspondents learnt that the licences that were revoked included mining, exploration, quarry and small scale mining titles. The PUNCH reported earlier that Federal Government issued more than 7,000 licences since the inception of the Nigerian Mining Cadastre Office. However, in […]

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Cross River industries will not be sold to cronies, Privatization Council assures

The Chairman, Cross River State Privatization Council, John Odo, has disclosed that the 46 state-owned industries will not be sold to cronies. The chairman made this known in his office while receiving the questionnaire sent out by the council to gauge the opinion of the people. According to the chairman, “The enterprises will not be […]

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NEXIM votes N36bn for SMEs’ export business in 36 states

The Nigerian Export-Import Bank has said it has earmarked a minimum of N1bn for every state of the federation to be disbursed to targeted export-oriented projects in the Small and Medium Scale Enterprises sector. The bank said this fund would help crowd-funding investments and promote regional industralisation and economic development. the Managing Director and Chief […]

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Digital currencies will reduce cross-border payment costs –BIS

The Bank for International Settlements has said digital currencies will reduce the cost of cross-border payments. BIS said this in a report titled ‘Inthanon-LionRock to mBridge: Building a multi CBDC platform for international payments’. According to the BIS, CBBCs can reduce the process speed of cross-border payments from three to five working days to only […]

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‘Over 200MT of steel returned to foundries for failing standards’

Following its warnings to manufacturers on the need to ensure that steel rods and reinforcement bars produced in the country adhere to required standards, the Standards Organisation of Nigeria (SON) stated that it forced producers to return over 200 metric tonnes of steel back to the foundry. The Director-General, SON, Mallam Farouk Salim, had warned […]

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LCCI, others urge adoption of Blockchain Technology to drive Business, Regulation

Mrs. Toki Mabogunje, president, Lagos Chamber of Commerce & Industry, (LCCI), has urged Nigerians in private and public sectors to adopt Blockchain innovations to drive business, regulatory and governance processes. Mabogunje gave the advice at a webinar with the theme: “Unlocking the Opportunities of BlockChain Technology” held recently in Lagos. She noted that the webinar […]

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Turning to special economic zones to drive industrialisation

Manufacturers have long been struggling to integrate into the global value chains that generate the goods and services that are demanded by consumers around the globe. Experts, however, say that the use of export-oriented Special Economic Zones (SEZs), which offer a concentration of high-quality infrastructure and mouth-watering fiscal incentives to producers in the zones, are […]

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Vanguard, BJAN Mourn Exit of Princewill Ekwujuru

The Vanguard Newspaper and the Brand Journalists Association of Nigeria (BJAN) have been mourning the exit of Mr. Princewill Oziomachukwu Ekwujuru who died after an accident. Until his death, Mr. Princewill was the paper’s Brands/Marketing Correspondence, and the former chairman of BJAN. In a Facebook post, his colleagues in BJAN held a Night of Tributes […]

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