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Business and Economy

CBN reports upsurge in Dollar inflow as remittances quadruple; Foreign investors return

ABUJA The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February 2024, with marked increments in remittance payments by Nigerians overseas and purchases of naira assets by foreign portfolio investors. Speaking with newsmen in Abuja,  the Bank’s Acting Director of …

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Afreximbank tops loan market rankings in Bloomberg’s 2023 Capital Markets league tables for Sub-Saharan Africa

CAIRO, Egypt, March 4, 2024 African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has been ranked number one in all three categories in the Bloomberg Capital Markets League Tables Report for African Capital Markets. Afreximbank is ranked as number one Mandated Lead Arranger, Bookrunner, and Administrative Agent for Sub-Saharan Africa Borrower Loans. These rankings recognize the Bank’s leadership …

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 Tinubu welcomes multi-sectoral agreements with Qatar; Set to receive Qatar’s investment team in Abuja

President Bola Ahmed Tinubu, and His Highness, Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, on Sunday in Doha, witnessed the signing of historic agreements between both nations, opening a gateway for leveraging the potential of mutual cooperation in pivotal sectors of education, enterprise development, investment …

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NNPC Ltd advocates collaborative war room to tackle challenges faced by independent producers

The Nigerian National Petroleum Company Limited (NNPC Ltd) has called for deeper collaboration among upstream operators, especially independent producers, to find solutions to the challenges hindering the effective development of divested assets in the nation’s oil and gas industry. The company’s Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, made the …

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Minister inaugurates NCDMB Governing Council, pledges to increase local content achievements

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri on Thursday in Abuja inaugurated the 4th Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB). The NCDMB Governing Council is set up under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and draws membership …

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Nigeria gets 60% Afreximbank energy sector funding – Oramah; Says Africa Energy Bank coming

By Emmanuella Anokam Abuja, Feb. 28, 2024 The African Export-Import Bank (Afreximbank), says  Nigeria is among the largest beneficiaries accounting for about 60 per cent of its US$30 billion funding of the energy sector in Africa. Afreximbank said it has been able to make modest contributions in the oil and …

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NLNG advocates enhanced digitalisation in the Nigerian energy sector

Nigeria LNG Limited (NLNG) on Tuesday in Abuja called on players in the Nigerian energy industry to draw insights from NLNG’s ongoing integration of digital technologies to improve operational efficiency, reduce emissions, increase revenue and remain competitive as it deals with rapid global changes and energy transition. During a panel …

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Monetary policy reforms will check inflationary tide, check foreign exchange distortions – CBN

CBN Governor,  Yemi Cardoso By Kadiri Abdulrahman Abuja, Feb. 27, 2024 The Central Bank of Nigeria (CBN), says its on-going reforms will check rising inflationary trend and address distortions in the foreign exchange market. The CBN Governor, Yemi Cardoso said this on Tuesday in Abuja, while presenting the communique from …

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NLNG, LCCI seek business community’s collaboration to promote respiratory technologies for newborns

  By Abiodun Azi and Funmilola Gboteku Lagos, Feb. 21, 2024 The Nigeria LNG Limited (NLNG) and  Lagos Chamber of Commerce and Industry (LCCI) have called for increased collaboration between the business community and science and research sector in Nigeria. According to them, this will help to close the gaps …

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Abia Govt to build tuition-free schools for skills acquisition; Geometric Power Generating Company to be commissioned Saturday

By Ihechinyere Chigemeri-Uwom Umuahia, Feb. 19,2024 The Abia Government says that plans are under way to set up tuition-free schools for skills acquisition in the three senatorial zones of the state. This is as arrangements are in top gear for the commissioning of the Geometric Power Generating Company on Saturday, …

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