The International Monetary Fund (IMF) in its January edition of World Economic Outlook (WEO) slightly lowered its growth projections for the country for 2024 to three percent, from the 3.1 percent earlier projected in its WEO released last October. The IMF growth projection was lower than the 3.76 percent projection in Nigeria’s 2024 budget. The […]
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The Belt and Road initiative is a strategy initiated by China that seeks to connect Asia with Africa and Europe via land and maritime networks, with the aim of improving regional integration, increasing trade and stimulating economic growth. Nigeria and China have expressed the desire to expand trade and economic cooperation, as Nigeria […]
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“Companies, such as Bharti Airtel, Tata, Stallion Motors, Churchgate, and Indorama. I have even noticed that Nigerian-based Indian companies are some of the biggest ambassadors for doing business in our market, this is a testament to the conducive business environment that Nigeria provides for Indian companies to thrive.” The Nigerian government has stated that […]
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I think it is in our interest to trade, to gain mutual benefits from our investments. And for people in areas such as the South-South (region) where livelihoods and jobs are essentially important, it is in our mutual interest to try and enhance our trade and investment partnership generally. In a move to woo […]
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A Saudi government statement on Wednesday said authorities were introducing “a new regulatory framework… to counter the illicit trade of alcohol goods and products received by diplomatic missions”. Saudi Arabia has set out plans to allow the sale of alcohol to non-Muslim diplomats for the first time, two sources familiar with the plan told […]
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The discussion mirrored down to 4 sectors to serve as pilot in the MSME partnership; these include: Diary industry, grains/millets value chain, movie industry and leather industry. This is in addition to the ongoing Knowledge Transfer Programme being implemented by SMEDAN. The Director General of Small and Medium Enterprise Development Agency of Nigeria […]
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The China-Africa Institute (CAI) will host African ambassadors at the Chinese Archeological Museum on Jan. 25 in Beijing, China. An Ni, CAI spokesperson, in a statement on Sunday, said the event was intended to promote China-Africa relations. “CAI is currently organising an event at the Chinese Archaeological Museum in Beijing on Jan. 25. “Ambassadors of […]
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The World Bank estimates that improved internet access has led to a 7% reduction in extreme poverty in Nigeria and Tanzania over three years. This was revealed in a new briefing paper entitled “Digital transformation drives development in Africa”, which notes that exposure has also led to an 8% increase in labor market participation and […]
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The amount on the debit side of the balance of payments includes how much was spent on tickets by passengers (N779.61bn), cargo ($10.22bn), and others (N5.65bn). Foreign airlines have repatriated N795.48bn from Nigeria in six months, data from the Central Bank of Nigeria have shown. Data from the apex bank’s Balance of Payment […]
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While the explosion of debt is throwing a shadow over global economic growth, experts warn that sub-Saharan Africa, where several countries are already in default, is experiencing its worst-ever crisis. The rise in interest rates and over-indebtedness is already crimping the ability of countries to finance their development, as a number of African leaders emphasised […]
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