The Nigerian Stock Exchange (NSE) on Friday, urged the Federal Government to put the country’s four refineries and the Ajaokuta Steel complex up for sale, so as to improve their performances. According to the NSE’s Chief Executive Officer, Oscar Onyema (photo), the sale of these assets became necessary in order to stop them from exhausting the country’s resources. He said the Nigerian...

The Federal Ministry of Finance has said that the $1.3 billion Development Bank of Nigeria (DBN) will soon be launched, as the selection process of the executive management team of the financial institution has been completed. The Ministry in a statement said an operating licence from the Central Bank of Nigeria (CBN) has also been applied for and is expected very soon. DBN is mutually...

China has announced plans to invest up to $40billion in Nigeria with the aim of deepening relations between the two countries. This declared by the Chinese Foreign Affairs Minister, Wang Yi, during a joint briefing with President Muhammadu Buhari in Abuja yesterday. According to the Minister, this investment is in addition to other contributions China had made to Nigeria in order to support...

The World Bank in its January 2017 Global Economic Prospects report confirmed the Federal Government of Nigeria’s predictions that the recession will end in the country this year. According to the report, Nigeria’s economy will grow by one per cent while global economy will rise to 2.7%, this year, The Government and Business Journal reports. “Sub-Saharan African growth is expected to...

The Nigerian House of Representatives have revealed plans to debate a motion seeking safety for outgoing President of Gambia, Yahya Jammeh (photo), in Nigeria where it could be guaranteed. A lawmaker from Jigawa State, Sani Zoro, had moved the motion under matters of urgent public importance. According to Zoro, the motion is part of measures to solve the crisis in the country. He said Jammeh can...

Concerns have been raised by the Nigerian Senate regarding the Federal Government’s ban on the importation of vehicles through land borders. The Senate on Wednesday revised the policy and described it as an anti-people policy that can further affect the citizens. As a matter of fact, the lawmakers strongly rejected the policy and called on the Nigeria Customs Service (NCS) to instantly...

Nigeria’s former President, Olusegun Obasanjo (photo), has inaugurated a Zero Hunger Strategic Initiative to put an end to hunger and poverty in Nigeria by 2030. The ex-president declared this during the launch of the Nigeria’s Zero Hunger Strategic Review 2030 in Abuja. This review is the country’s promise to accomplishing the United Nations sustainable development goal, end hunger,...

Investment fund Moringa which focuses on sustainable agro-forestry project across sub-Saharan Africa and South America, has invested in Tolaro Global, leading firm in cashew processing and export in Benin. The fund made the announcement in a statement released today. The new investment aims to expand the Tolaro’s shelling plant and boost its raw cashew output to 20,000 Mt by 2021. Moreover,...

In DR Congo, the new land affairs minister, DR. Felix Kabange Numbi, proceeded on January 9 to a field visit in the Ngaliema district, West of Kinshasa. The news was reported by the Central Africa News Agency. Offices of fiscal and technical cadaster, surveying, registering and notaries were visited by the official who was followed by the Secretary General, the Keeper of Property Deeds, the...

Africa Finance Corporation (AFC), a multilateral firm which financed various infrastructure projects in Africa, plans to issue its first Sukuk bond next month, Reuters reported on January 11, citing sources with knowledge of the case. “If AFC makes a final decision to go ahead with the proposed debt sale over coming days, the sukuk will be issued in two or three weeks through a private sale,”...