Business & Economy

Business

Enugu State Signs MoUs to Boost Economic Growth, Targets $30 Billion Economy

Leave a Comment / Business & Economy, Interviews and Awareness Creation /

The Enugu State Government has signed two significant Memoranda of Understanding (MoUs) with Fungtai Engineering Ltd and the National Cashew Association of Nigeria (NCAN) to drive agricultural and economic development. The initiatives focus on enhancing cash crop production and establishing a domestic export warehouse in the state. As part of the plan, 7,221 hectares of […]

Spread the love

Enugu State Signs MoUs to Boost Economic Growth, Targets $30 Billion Economy Read More »

Enugu State: The Next Investment Hub?

Leave a Comment / Business & Economy, Interviews and Awareness Creation, Uncategorized /

According to The Guardian, Enugu State Governor, Dr. Peter Mbah, is wooing the Nigerian diaspora community to consider Enugu as their next investment destination. He emphasized that his administration has created a business-friendly environment, facilitating investment processes and ensuring high returns on investment.¹ Mbah highlighted the state’s commitment to the diaspora community, citing policies like

Spread the love

Enugu State: The Next Investment Hub? Read More »

Rising Food Prices Leave Abia and Imo Residents Struggling During Yuletide

Leave a Comment / Business & Economy /

As Christmas approaches, residents of Abia and Imo states are grappling with a sharp rise in food prices, making basic items increasingly unaffordable for many families. A market survey in Umuahia revealed significant price hikes for essential items such as rice, chicken, vegetable oil, onions, and tomatoes. At Isi-gate Market, a 50kg bag of local

Spread the love

Rising Food Prices Leave Abia and Imo Residents Struggling During Yuletide Read More »

Nigeria Pursues Tax Reforms to Unlock $750M World Bank Loan

Leave a Comment / Business & Economy /

The Federal Government of Nigeria is pressing ahead with critical tax reforms aimed at boosting revenue and efficiency, in a bid to access a $750 million loan from the World Bank. The loan is part of a broader $2.25 billion package approved by the World Bank to bolster Nigeria’s economic stability and support its vulnerable

Spread the love

Nigeria Pursues Tax Reforms to Unlock $750M World Bank Loan Read More »

IFC and CBN Partner to Boost Local Currency Financing in Nigeria

Leave a Comment / Business & Economy /

The International Finance Corporation (IFC) and the Central Bank of Nigeria (CBN) have signed an agreement to increase local currency financing in Nigeria. This partnership aims to unlock over $1 billion in investments across key sectors, including agriculture, infrastructure, housing, energy, small and medium enterprises, and the creative and youth industries. The agreement will provide

Spread the love

IFC and CBN Partner to Boost Local Currency Financing in Nigeria Read More »

Nigerian Government Proposes 50% Tax Relief for Companies Increasing Salaries

Leave a Comment / Business & Economy /

The Nigerian government has introduced a bill that proposes a 50% tax relief for companies that increase salaries or offer transportation allowances to low-income workers. This bill aims to reform Nigeria’s tax system and provide income tax exemptions to incentivize salary adjustments. Companies will be allowed an additional 50% deduction in their relevant years of

Spread the love

Nigerian Government Proposes 50% Tax Relief for Companies Increasing Salaries Read More »

Ogun State Government Renews Commitment to Reduce Soaring Food Prices

Leave a Comment / Business & Economy /

The Ogun State Government has reaffirmed its dedication to addressing the challenge of high food prices in the country. During the harvest of fish by Ado-Odo/Ota Fish farmers’ clusters, Commissioner for Agriculture and Food Security, Bolu Owotomo, disclosed that the government has implemented various interventions and support for farmers to boost food production and supply,

Spread the love

Ogun State Government Renews Commitment to Reduce Soaring Food Prices Read More »

Minister of Agriculture and Food Security Reveals 30 Million Hectares of Farmland Lie Unused in Nigeria

Leave a Comment / Business & Economy /

The Minister of State for Agriculture and Food Security, Senator Aliyu Abdullahi, disclosed that approximately 30 million hectares of arable land in Nigeria remain unused. This revelation came during a visit from the President of the National Tomato Growers, Processors, and Marketers Association of Nigeria to Abdullahi’s office in Abuja. Abdullahi highlighted that Nigeria boasts

Spread the love

Minister of Agriculture and Food Security Reveals 30 Million Hectares of Farmland Lie Unused in Nigeria Read More »

Central Bank of Nigeria clarifies validity of old Naira notes

Leave a Comment / Business & Economy, National News /

The Central Bank of Nigeria (CBN) has reaffirmed that the old series of N200, N500, and N1,000 banknotes will remain valid indefinitely, contrary to claims that they would cease to be legal tender by December 31, 2024. This clarification comes after speculation and concern in the media over the validity of old naira notes. The

Spread the love

Central Bank of Nigeria clarifies validity of old Naira notes Read More »

FBN Holdings Appoints Adebowale Oyedeji as New Group Managing Director

Leave a Comment / Business & Economy /

FBN Holdings has announced the appointment of Adebowale Oyedeji as its new Group Managing Director, effective November 13, subject to Central Bank of Nigeria approval and shareholder ratification. Oyedeji will replace Nnamdi Okonkwo, who will retire after completing his term. Femi Otedola, Group Chairman of FBNHoldings, expressed pleasure in welcoming Oyedeji, stating that the board

Spread the love

FBN Holdings Appoints Adebowale Oyedeji as New Group Managing Director Read More »