Size Of AfCFTA Worth $3.3trn – AfDB

The African Development Bank (AfDB), says the size of trade within the African Continental Free Trade Area (AfCFTA) is worth 3.3 trillion dollars.President of AfDB, Dr. Akinwumi Adesina said this at the ongoing Tokyo International Conference of African Development (TICAD) in Japan. Click here for more.

Buhari Rallies Japan, Says Investment Returns Highest in Nigeria

President Muhammadu Buhari Thursday rallied Japan to massively invest in Nigeria, assuring the Asian nation that the country has enormous investment opportunities that guarantee the highest returns. Click here for more.

Elumelu Charges Japan to Commit to Empowering African Entrepreneurs

The Founder of the Tony Elumelu Foundation (TEF) and the Chairman of the United Bank of Africa (UBA) Plc, Mr. Tony Elumelu, has challenged the government of Japan to invest five per cent of its $50 billion commitment to Africa, in empowering African entrepreneurs. Click here for more.

Border closure to save Nigeria $400m – Rice growers

The Rice Processors Association of Nigeria on Thursday backed the Federal Government’s closure of the land border with Benin Republic and other neighbouring countries. Click here for more.

Shippers Council Moves to Enforce FAL Convention Among African Countries

The Executive Secretary of the Nigerian Shippers’ Council (NSC), Hassan Bello, has reiterated the importance of the Status of Convention on Facilitation of International Maritime Traffic (FAL convention) to the Union of African Shippers Council (UASC) members.  Click here for more.

Investors Loses N88.27bn As NSEASI Erases Previous Day Gain; Dips By -0.66%

Equities market closed yesterday on a negative note, as NSEASI depreciated by -0.66% to close at 27,425.57 points as against +0.02% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.74%. Click here for more.

SEC Woos Army, Police Officers To Capital Market

The Securities and Exchange Commission has organised a one-day enlightenment outreach for officers of the Nigerian Armed Forces, the Nigeria Police Force and other para-military agencies on the investment initiatives in the capital market and how to protect their sundry investments. Click here for more.

Full Year-2019: PZ Cussons’ profit declines by 40% 

PZ Cussons Nigeria Plc has released its financial results for the business year ended Friday, May 31, 2019. During the period under review, the company recorded N74.3 billion revenue as against the N80.5 billion recorded in 2018. This represents a 7.7% decline. Profit before tax stood at N1.9 billion for the year as against N2.3 billion recorded last year. This represents a 16% decline. Click here for more.

Airtel overtakes Globacom, mobile subscription peaks at 174.67m

Nigeria’s major telecommunications operators recorded a total of 174.67million subscribers in July, the latest monthly report on subscribers obtained from the Nigerian Communications Commission has shown. In just one month, the industry statistics showed that the telcos gained 919,025 new subscribers as the industry had recorded 173.75 million GSM users in June. Click here for more.

Nigeria’s Surging Food Prices May Rise Even Faster on Dollar Ban

Nigeria’s plan to spend less on food by restricting access to dollars for importers could have the opposite effect by threatening food supplies and pushing up prices. President Muhammadu Buhari ordered the central bank on Aug. 13 to stop dollar supply for food imports, saying food security has been achieved and agricultural production has increased. Click here for more.

Operators identify drawbacks for Fintech, ePayment business adoption

For the electronic payment business, the hydra-headed challenges of persistent network failures, culture norms, insecurity, among others have been identified as limitations confronting its expansion in Nigeria. Click here for more.

Ethiopian Airlines leaves Enugu Airport to begin flight operation in Rivers State

The decision of the Federal Government of Nigeria to shut down the Akanu Ibiam International Airport has affected the flight operations of Ethiopian Airlines. The closure has led to the relocation of the planes of the foreign airline as the Federal Government said the airport would be closed until further notice. Click here for more.