The World Bank will provide Gambia a budgetary support valued at about $56 million to help the country’s new government bridge its deficit and provide basic public services. The West African nation is currently facing an unprecedented economic crisis and despite the numerous promises made by foreign donors, Gambia is still struggling to rebalance its finances. It barely stands below the...

In Côte d’Ivoire, 389,000 tons of cocoa were processed at the end of June, up 13.8% as compared to a year before. According to Reuters which reports GEPEX’s estimates covering 6 out of the country’s 12 processors, from May and June, the volumes of cocoa processed recorded a strong growth, standing at 18% and 34% respectively. Despite having an annual processing capacity of 712,000 tons...

Nigeria’s Acting President, Yemi Osinbajo (photo), has on Wednesday, ordered the immediate release of N1.6bn ($4.6 million) to support states affected by flood in the country, according to Femi Adesina, the Special Adviser to the President on Media and Publicity. The states include Ekiti, Osun, Akwa Ibom, Kebbi, Niger, Kwara, Ebonyi, Enugu, Abia, Oyo, Lagos, Plateau, Sokoto, Edo, and...

The Nigerian National Petroleum Corporation (NNPC), Central Bank of Nigeria (CBN) and 35 other Federal agencies have been given seven days to submit their 2017 budget proposals to the National Assembly for appropriation. The directive was issued to the agencies by the Senate on Wednesday. This decision comes after a motion raised by Senator Ahmed Lawan, claiming that most government agencies...

In Nigeria, the World Bank has said that it is ready to work together with the Lagos Waste Management Authority (LAWMA), to carry out projects that would make the environment in the state cleaner and healthier. The leader of the World Bank team, Joseph Akpokodje, disclosed this during a recent official visit to LAWMA. He said the aim of the visit was to brainstorm ways to combat some of the...

Etihad Airways on Wednesday said it will extend flights to Nigeria later this year to meet rise in demand. Aside Nigeria, the airways also intends to increase flights to Cairo, Egypt. According to the company, a new Saturday flight to Lagos will commence on December 2, 2017. This will add to the airline’s weekend travel option, increase frequency from four to five services each week and...

The Kano State House of Assembly has passed into law the state Health Trust Fund Bill (KHETFUND) which would guarantee sustainable financing of the health sector in the state. Aminu Garba, the Coordinator and Founder of Community Health and Research Initiative (CHR), who disclosed this on Tuesday, said the bill will be funded through a monthly deduction of 5% tax revenues and one percent from...

Chinese multinational company, Shandong Ruyi Technology Group Co., is set to invest $600 million in the textile and garment industry in Kano state, according to Isyaku Umar Tofa, the chairman of the state Investment Promotion Agency. Tofa disclosed this during the presentation of Certificates of Occupancy to two investors, by the state governor in Kano. According to him, talks are...

Dangote Group plans to increase its sugar production to 1.5 million metric tons a year by 2020 from the current 100,000 tons. It also plans to add 1 million tons of rice to current production and have 50,000 cattle producing 500 million liters of milk a year by 2019. To this end, the company will be investing $3.8 billion in sugar and rice and another $800 million in dairy production...

The Nigerian Minister of Finance, Kemi Adeosun (photo), on Tuesday said the country must not borrow more to fund the 2017 budget but should instead raise money by other means. The Finance Minister said this while speaking at a business forum in Abuja. She said: “We cannot borrow anymore, we just have to generate funds domestically enough to fund our budget. Mobilize revenue to fund the...