Author: Olakunle Oke
Page: 6
In a bid to ensure food security, the Niger Delta Development Commission has partnered with the Rice Farmers Association of Nigeria. According to a statement by the NDDC Director of Corporate Affairs, Pius Ughakpoteni, the commission’s Managing Director, Dr Samuel Ogbuku, stated this during a strategic meeting with a delegation of the farmers association, led […]
The Central Bank of Nigeria has handed over N100bn worth of fertilisers to the Federal Ministry of Agriculture and Food Security to boost food production across the country. CBN Governor, Olayemi Cardoso, handed over the 2.15 million bags of fertilisers to the Minister of Agriculture and Food Security, Abubakar Kyari, at the headquarters of the […]
An international business research firm, the Economist Intelligence Unit (EIU), has declared that indigenous oil companies acquiring the assets of divesting international oil companies will not be able to match their investing power. The EIU, in its latest Country Report on Nigeria, observed that the indigenous companies would not have the same financial power to […]
The Federal Government has enlisted the expertise of leading global investment banks, including Citibank NA, JPMorgan Chase & Co, and Goldman Sachs Group Incorporation, to guide its forthcoming Eurobond issuance. It also appointed Standard Chartered Bank and the Lagos-based financial advisory firm Chapel Hill Denham to consult on this venture. The Eurobond issue which would […]
For February, Nigeria’s crude oil production dropped to 1.32 million barrels per day from the 1.42-million-barrel oil daily production- a drop of 104,000 barrels per day. This is according to OPEC’s monthly oil market report (MOMR). The figure for the month was based on direct communication from Nigeria to OPEC’s authorities. However, based on secondary […]
The World Trade Organisation (WTO) says Nigeria has lost its leading position in the agriculture export markets because its agricultural commodities do not meet the sanitary and phytosanitary requirements of the foreign markets. According to WTO, despite the abundance of arable lands and increased investments, the nation has transitioned into a net importer of farm […]
The National Automotive Design and Development Council (NADDC) has announced plans to validate its National Occupational Standards for the conversion and maintenance of electric vehicles and Compressed Natural Gas vehicles. The Director-General of NADDC, Joseph Osanipin disclosed this during the validation workshop exercise for the draft of the national standards for auto gas vehicles in […]
China’s export and import growth in the January-February period beat forecasts, suggesting global trade is turning a corner in an encouraging signal for policy makers as they try to shore up a stuttering economic recovery. China’s improved export data joins those of South Korea, Germany and Taiwan, who all saw their shipments top expectations over […]
The price of garri, a popular staple food in Nigeria has surged by 108 percent in three months, hitting a record high as cassava production shrinks. Survey across major markets shows that the average price of a 50kg bag of yellow garri surged by 108 percent from an average of N18,000 in December 2023 to N37,500 in March 2024. A 4-litre […]
The Federal Government has declared that it would withdraw the operating licences of power distribution companies that were intentionally not supplying electricity to consumers across the country, leading to widespread blackouts in Nigeria. It stated that despite efforts by the Federal Ministry of Power and electricity generating companies, some Discos were not distributing the power […]
