(AFRICAN EXAMINER) – The Infrastructure Concession Regulatory Commission (ICRC), said the concessioning of three ports by the Federal Executive Council (FEC) would attract an investment 3.7 billion dollars from the private sector. The Director-General, ICRC, Micheal Ohiani said this in a statement signed by Mr Ifeanyi Nwoko, Acting Head, Media and Publicity, ICRC, in Abuja […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) has approved a $15 million subordinated loan to Infrastructure Credit Guarantee Company Limited (InfraCredit) to strengthen its capital base and help close Nigeria’s infrastructure financing gap. InfraCredit is a specialized Nigerian credit guarantee company that mobilizes long-term capital from institutional investors, including pension fund and insurance companies, to […]
(AFRICAN EXAMINER) – The International Monetary Fund has said that weaker currencies in Nigeria and other Sub-Saharan African countries are pushing up public debts. This was disclosed in a blog post published on the IMF’s website on Monday. The fund noted that with an average depreciation of nine per cent since January 2022, sub-Saharan African […]
(AFRICAN EXAMINER) – The Naira depreciated against the dollar on Monday, exchanging for N464 at the investors’ and exporters’ window. The rate represented a decrease of 0.36 per cent when compared to the N462.33 it exchanged at the close of business on May 12. The open indicative rate closed at N463 .50 to the dollar […]
(AFRICAN EXAMINER) – The director-general of the budget office of the federation, Ben Akabueze, has stated that Nigeria’s borrowing space keeps reducing because of the inability to service debt. Akabueze made this known on Wednesday in the induction of newly-elected lawmakers of the 10th national assembly in Abuja. He stated that the ratio of the […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) says the Bank Verification Number (BVN) issued in Nigeria remains for life and has no expiry date, as reported by a national newspaper. Its Acting-Director, Corporate Communications, Alhaji Isa Abdulmumin, said this in a statement on Wednesday. Abdulmumin said that the claim was completely false and […]
(AFRICAN EXAMINER) – Paradigm Initiative (PIN) has expressed concerns over the exclusion of civil society in Nigeria from the proposed Data Protection Commission’s Governing Council. This is coming at a time when the legislature is discussing the country’s Data Protection Bill, which seeks to establish an independent and effective regulatory commission to oversee data protection […]
(AFRICAN EXAMINER) – European Investment Bank (EIB) Group has said that its investments for Africa in the 2022 fiscal year amounted to €4.3 billion. The EIB is a long-term financing institution owned by Member States of the European Union (EU). It finances sound investments contributing to EU policy goals. The EIB Group supports projects in […]
(AFRICAN EXAMINER) – The Nigerian Export Promotion Council (NEPC) on Friday advised farmers to prioritize the production of economic crops and trees to tap from the huge potential of export to the international market. The Executive Director and Chief Executive Officer of the council, Dr Ezra Yakusak, gave the advice while interacting with Southern Kaduna […]
(AFRICAN EXAMINER) – The Enugu Electricity Distribution Company (EEDC) says the current loss of electricity supply in Imo is as a result of an ongoing industrial action by organised labour. The company said that workers, under the organised labour, comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) were on strike over […]
(AFRICAN EXAMINER) – President Muhammadu Buhari on Wednesday in Abuja launched a new long-term national development plan, the Nigeria Agenda 2050 (NA 2050), which aims to ensure that the country attains a Per Capita GDP of $33,328 per annum, placing her among the top middle-income economies in the world by 2050. The President inaugurated NA […]
(AFRICAN EXAMINER) – The African Development Bank (AfDB) Group has flagged off a six-month campaign to sensitize its internal and external stakeholders on its new Whistleblowing Policy. The new Whistleblowing Policy, which was approved by the AfDB’s Boards of Directors in January this year, brings retaliation by contractors, consultants and suppliers under the bank’s sanctions […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has dismissed reports that it is considering the withdrawal of the redesigned N200, N500 and N1,000 notes from circulation. In a statement on Sunday, the apex bank’s Acting Director of Corporate Communications, Isa AbduMumimas described the reports as “unfounded speculation”, noting that there is no plan […]
(AFRICAN EXAMINER) – Zenith Bank Plc has announced its unaudited results for the first quarter ending 31st March 2023, with an exceptional double-digit growth of 41% in Gross Earnings, increasing from ₦191.5 billion in Q1 2022 to ₦270 billion in Q1 2023. The unaudited statement of account submitted to the Nigerian Exchange (NGX) on Friday, […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) has said that to combat climate change and support green growth, African countries need more climate investments to achieve their national targets for emissions reductions and adaptation to the impacts of climate change. Africa, the continent that pollutes the planet the least, is today one of the world’s […]
(AFRICAN EXAMINER) – Amid probe of the alleged loss of over $2.4 billion in revenue from illegal sale of 48 million barrels of crude oil export in 2015 and the call by the Socio-economic Rights and Accountability Project (SERAP) for President Muhammadu Buhari to set up a presidential panel of enquiry to probe allegations that […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has assured Nigerians of safety of their money in banks through operation of the e-naira. taken its e-Naria digital currency policy sensitisation to community comprising students, teaching and non teaching staff. Mr Chika Ugwueze, Assistant Director Payments System Management Department, CBN, Abuja, disclosed this in Nsukka […]
(AFRICAN EXAMINER) – The Debt Management Office (DMO) says Nigeria’s indebtedness to the World Bank, which grew from 6.29 billion dollars in 2015 to 13.46 billion dollars in 2022 is a positive development. According to a statement by the DMO in Abuja on Wednesday, this is contrary to media reports about the nature of World […]
(AFRICAN EXAMINER) – The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,600.57 recorded in February to N4,610.48 in March. This is contained in the Bureau’s “Cooking Gas Price Watch’’ for March 2023 released on Monday in Abuja. The report said the March 2023 price represented a […]
(AFRICAN EXAMINER) – There were 222.5 million telephone subscribers in Nigeria as at end of 2022, the National Bureau of Statistics (NBS) has said. The 2022 figure showed an increase of 27.1 million subscribers over the 195.5 million subscribers recorded at the end of 2021. The NBS stated the figures in its Telecoms Data: Active […]
