In March, annual inflation slumped to 17.26% from 17.78% in February, data from the National Bureau of Statistics (NBS) shows. According to the statistics office, this is the second consecutive month the figure drops in more 16 months. This results mainly from the central bank's intervention on currency market, the office said on Thursday. Indeed, since February, the Apex bank has been injecting...

The Buhari administration said it will delay the issuance of the green bond it planned for this month, until the 2017 budget has been adopted. This was revealed by the environment ministry, Reuters reports.    The bond which amounts to N20 billion ($65.55 million) should help finance low-emission projects in areas such as agriculture, transport and deforestation, and develop...

Each year, Nigeria loses N9 billion to illegal fish importation and smuggling. Denouncing the practice, the Association of Indigenous Sea Food Stakeholders called unto the government to penalize all those responsible for the practice as they should. According to the national president of the association, Lamina Rasheed, who made the announcement on April 12 in Abuja, illegal fish importation...

Agrofood firm Unilever Nigeria announced on Wednesday that it aims to raise N63 billion ($200 million) via a rights issue. The firm, according to Reuters which reported the news, will seek the approval of its shareholders for the operation. In a statement, the subsidiary of Dutch-British multinational Unilever said it will proceed to a vote for the fundraising at a meeting which will be held...

In 2016, official development assistance for Africa decreased according to data released on April 11 by the Organization for Economic Cooperation and Development (OECD). Public bilateral aid provided by OECD’s development assistance committee (DAC) stood at $27 billion last year, of which 24 billion for sub-Saharan Africa. This represents a 0.5% and 0.7% decrease for Africa and...

Hong-Kong phone manufacturer Infinix hopes to sell 400,000 of its phones in Morocco this year. The brand established itself in the country last December currently sells 30,000 products each month average there. “We aim to sell 400,000 units minimum in 2017, which represents 9% to 10% of the market,” said Iktane Boudchiche, Infinix brand manager in Morocco. This would put the smartphone...

It is the turn of administrative authorities, village chiefs, communities, the civic society and leaders of the youth association and the women of Guiglo in the west of Cote d’Ivoire to benefit from the sensitization campaign on the 1998 law on agricultural land. According to the Agence ivoirienne de Presse (AIP) that reported this, the campaign is carried out by a delegation from the...

Determined to ensure total compliance to the ban on rice imports into the country, the Nigeria Customs Service (NCS) has forbidden the exit of rice from Free Trade Zones in the country. NCS’s Public Relations Officer, Joseph Attah, who recently announced this in Abuja said some Nigerians were leveraging on the FTZ status –as a country within a country– to smuggle rice into the country....

Coming as a new development in the OPL 245 block scandal, Royal Dutch Shell admitted that it knew that part of the payments it made to Nigeria's governement for the rights to the block would be transferred to Malabu Oil and Gas. This was revealed by Shell spokesman, Andy Norman, in an email to Reuters. The representative said the group was aware that the government “would compensate Malabu...

The Federal Government announced that it will inject N3 trillion into the Bank of Agriculture (BoA) in a bid to diversify the economy. The funds will be put at the disposal of farmers at affordable rates. The information was disclosed by the Minister of State for Agriculture, Heineken Lokpobiri, in Ogun State. According to the official, the government’s decision comes as commercial banks in...