UNIDO, FG to sign $60mn Nigeria’s new Country Programme

The Director General of the United Nations Industrial Development Organisation (UNIDO), Li Yong, arrived Nigeria today on a two-day official visit. Li Yong, who is visiting the country for the second time since his assumption of office in year 2013, will use the occasion of the visit to sign the $60 million UNIDO Nigeria new […]

Saudi’s energy minister seeks 1Mn B/PD cut in producers’ output

Saudi Arabia’s Energy Minister, Khalid al-Falih, on Monday advised oil producing countries to cut output by one million barrels per day to re-balance the market as crude prices continue to sag in the market Falih, who spoke a joint OPEC non-OPEC ministerial monitoring committee meeting in Abu Dhabi, said that “the technical analysis we reviewed […]

Brazil approves tax holiday for Ford, others

TaxTax’s President, Michel Temer, has signed into law hundreds of millions of dollars in incentives for automakers such as General Motors Company and Volkswagen to produce locally and continue developing engines that run on both gasoline and ethanol. The plan, known as Rota 2030, replaces a previous package of tax exemptions known as Innova Auto […]

FG flaws U.S Dept’s report on Nigeria’s rice import figures

The Federal Government on Tuesday flawed the United States Department of Agriculture World Markets and Trade Report on the volume of Nigeria’s rice imports this year and the local production capacity, saying the report lacks all evidential proofs. The Department had reported that Nigeria imported three million metric tonnes of rice in 2018, which is […]

U.S SEC adopts new rules for brokers on investors’ orders

The United States’ Securities and Exchange Commission (SEC) has adopted amendments that require broker-dealers to disclose to investors new and enhanced information about the way they handle investors’ orders. Specifically, the Commission amended Rule 606 of Regulation NMS to require a broker-dealer, upon a request of a customer who places a “not held” order (e.g., […]

Nigeria to resume export of hibiscus to Mexico

The Coordinating Director of the Nigeria Agricultural Quarantine Service (NAQS), Dr. Vincent Isegbe, says Nigeria will soon resume the exportation of hibiscus to Mexico. Isegbe, in a statement signed by the agency’s Head, Media, Communications and Strategy, Dr. C. P. Nwodo, disclosed this when the Mexican Ambassador to Nigeria, Mr. Marco Antonio Garcia Blanco, paid […]

Nigeria slides in global ‘Ease Of Doing Business’ ranking

Nigeria dropped by a spot in the latest World Bank’s Ease of Doing Business ranking, sliding marginally to the 146th position from the 145th it ranked last year. The World Bank Group, in a report titled ‘Doing Business 2019: A Year of Record Reforms, Rising’, published Wednesday, stated that it tracked 314 reforms by 128 […]

DBN becomes member of global SME Finance Forum

The Development Bank of Nigeria (DBN) has become a member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. Established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012, the SME […]

IATA forecasts 50% growth in air passengers’ traffic

The International Air Transport Association (IATA) has projected that present trend in air transport suggests that passengers’ traffic could double to 8.2 billion by 2037. Specifically, the global air transport association’s forecast anticipates a 3.5 per cent compound annual growth rate (CAGR), thereby leading to a doubling in the volume of air travellers from today’s […]

Kim confirms African leaders’ plea for World Bank’s support

With just few days to the kick-off of the Africa Investment Forum 2018 (AIF) in Johannesburg, South Africa, African leaders have reiterated the need for the World Bank to do more to eradicate energy poverty across the continent. The President of the World Bank, Jim Yong Kim, had during his remarks at the IMF/World Bank […]