In Algeria, actors of the agrofood industry gathered at the first agrofood fair held from August 22 to 26 at the Maison de l’environnement of Bourmerdès, in the Northern part of the country. At the occasion, the investors shed light on some of the administrative challenges they often face, El Watan reported. “There is a number of administrative roadblocks at the customs level. Also, before...

According to latest data from the National Bureau of Statistics (NBS), the total value of capital imported into Nigeria stood at $1.792 billion in the second quarter of 2017. This represents an $884.1 million increase from the figure recorded in Q1 2017. Capital Importation can be divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment and...

The United States has invested over $50 million in clean energy projects across 18 states in Nigeria, according to Brent E. Omdahl, Head of U.S Commercial Service Unit, United States Trade and Development Agency (USTDA). The USTDA head made this known in Lagos at the second Interactive Forum organized by Power Sector Group of Lagos Chamber of Commerce and Industry (LCCI), on...

President and founder of the Dangote Foundation, Aliko Dangote (photo), has earmarked N200 billion ($547.7million) for the establishment of a world-class university in Abuja, Nigeria. This was revealed by the Chief Executive Officer, CEO of the foundation, Zouera Yousouffou. She added that land has been purchased for the project. According to former Executive Secretary of the National...

Nigerian President, Muhammadu Buhari (photo), has signed a number of bilateral agreements with some countries, including the United Arab Emirates (UAE), to intensify the fight against corruption in his country. Signed in Abuja, the agreements include Mutual legal assistance in criminal matters, Mutual legal assistance in commercial matters, Transfer of sentenced persons and an Extradition...

Nigeria raised N56.05 billion ($179 million) through a bond auction on Wednesday, below the amount on offer. This is because domestic pension funds and insurance companies reduced their orders due to low yields, traders told Reuters on Thursday. “Pension funds and insurance firms cut back their demand ... because of expectations of higher yields,” a dealer said, adding that the two sectors,...

The European Union (EU) is collaborating with Nigerian authorities to improve the quality of some products which have been banned for export as they fail to meet European standards. These items include beans and some fish products. According to the Head of Cooperation, EU Delegation to Nigeria & ECOWAS, Kurt Cornelis (photo), although the products were desirable, the EU needed to protect its...

Indigenous fuel distributor, Nipco Plc, has acquired an additional 3.23% stake in fuel retailer, 11 Plc, (formerly Mobil Oil Nigeria), for $16 million. This brings Nipco’s total stake in the latter, to 70%. The current development comes after Nipco launched, last June, the offer for the 3.23% stake it needed to get 70% of 11 Plc. to take over the firm, in accordance with Nigerian...

Mauritius’ tourism earnings should grow by 5.2% this year with a greater number of tourist arrivals, the country’s statistics office revealed on August 24. Tourism revenues this year are expected to reach 58.8 billion rupees ($1.78 billion) against 55.9 billion rupees last year. An expectation which is slightly above an initial forecast of 58 billion rupees. Tourism, it should be...

Land Policy Initiative (LPI), in partnership with the International Fund for Agricultural Development (IFAD) and the European Union (EU), have launched in the Democratic Republic of Congo (DRC) a pilot project to mainstream land governance challenges in agriculture. This took place at a workshop co-organized by LPI and the DRC’s government. “The pilot project will help the country mainstream...