LCCI Announces Venue for ‘Invest Nigeria’ Expo 2024
LCCI said that the expo will be used to introduce 15 Unicorn Companies to the Nigerian Economy, Sign landmark investment agreements
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Junaid Waziri To Establish $1.5bn Cement Factory in Bauchi
Dr Abbas Junaid Waziri, the managing director of Resident Cement Company, has expressed interest to establish a cement factory in the Gwana district of Alkaleri Local Government Area of Bauchi State. The State Governor, Bala Abdulkadir Mohammed, who disclosed this, said that Resident Cement Factory has resolved to invest $1.5 billion in establishing the Gwana…
Afreximbank projects $40bn intra-African trade in 2026
▪︎Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank African Export-Import Bank (Afreximbank) plans to double its financing of intra-African trade from US$20 billion in 2021 to US$40 billion by 2026.Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank, disclosed this in Abuja at the African Caucus Meeting of the World Bank Group…
Manufacturers urge to move Cargoes through Railway
▪︎APM Rail Terminals Kano The Nigerian Shippers Council (NSC) and the Nigerian Railway Corporation (NRC) say that manufacturing companies, importers and exporters should take advantage of rail services for the transportation of cargoes to and from the seaports to Inland Dry Ports (IDPs). The two agencies of the government back up the call with signed…
Manufacturing sector worst hit in unpaid $2.4bn FX backlogs by CBN -MAN
Worse still, the commercial banks have continued to charge dollar account along with other Naira bank charges such as 35% interest rate on the facilities that these companies have with their banks.
Lesotho King Letsie II urges FAO to end hunger
His Majesty King Letsie III of the Kingdom of Lesotho, has urged the Food and Agricultural Organisation (FAO) to intensify efforts to eradicate poverty and end hunger in Lesotho and the rest of Africa.The Monarch also told FAO to pay closer attention to ensuring better nutrition and to mitigating the challenges caused by the impacts…
NACCIMA, CBN differ on payment of outstanding FX to Companies
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), is calling on the Central Bank of Nigeria (CBN) to act quickly to pay the outstanding balance of the 2022 to 2023 foreign exchange forwards to the affected companies. Conversely, CBN Governor, Olayemi Cardoso, maintained that the bank would not pay for FX…
Fubara Tasks Investors to go through State’s Investment Promotion Council
▪︎Governor Fubara signs the Executive Order No. 002 of 2024 for the establishment of the Rivers State Investment Promotion Agency , in Port Harcourt, on Monday. Rivers State governor, Sir Siminalayi Fubara, has called on prospective investors to liaise with the Rivers State Investment Promotion Council for seamless investments in the State. Fubara made the…
Hunger Protests: Businesses Suffer Over N700bn Losses
▪︎People protest against hardship on the street of Lagos, Nigeria, Thursday, Aug. 1, 2024. Thousands of mostly young people poured onto the streets across Nigeria on Thursday as they protested against the country’s worst cost-of-living crisis in a generation. Security forces fired tear gas to disperse some of the protesters in the capital, Abuja. (AP…
Lawson joins Cadbury Nigeria Board as Non-Executive Director
Cadbury Nigeria Plc has announced the appointment of Ms. Bunmi Lawson as a Non-Executive Director on the Board of Directors of the Company Her appointment takes effect from 1st June 2024. The announcement was contained in a statement by Mr. Adedotun Sulaiman, Chairman, Cadbury Nigeria. The statement said Ms. Lawson’s appointment was ratified by shareholders…