The Federal Ministry of Agriculture and Food Security, (FMAFR) and the National Identity Management Commission, (NIMC) have introduced digital identity cards with multiple wallets for farmers and other Nigerians to boost food security, and increase Gross Domestic Product (GDP) of the country. According to the government authorities the development was in tandem with the National…
Following the increase in the ex-depot price of premium motor spirit (PMS) or petrol to N950 per litre from the previous N909 per litre by depot owners, there is now a surge in oil marketers seeking to key into the bulk-purchase agreement incentives being offered by the Dangote Petroleum Refinery. The refinery, which has pegged…
Nigeria’s Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured oil and gas players that pump prices of fuel shall continue to be determined by the forces of demand and supply as is the practice is a deregulated market environment. The minister spoke at the Petroleum Industry Stakeholders Forum Meeting in Abuja, which brought…
An international assessment says the African livestock sector requires a reliable data ecosystem to facilitate sustainable policy-making and development. The insights were part of a Baseline Assessment of Pastoral Livestock Marketing Chains conducted in Kenya and Nigeria. The livestock industry in Africa, valued at $51 billion, plays a vital role in the continent’s economic growth,…
The Central Bank of Nigeria (CBN) has unveiled two new digital initiatives—the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution. A statement from the CBN said the initiatives were launched at the CBN Head Office in Abuja on Wednesday, January 15, 2025, and is part of the apex bank’s…
Continental lender, the African Export-Import Bank (Afreximbank), has unveiled plans to provide aircraft financing support to Nigerian carriers as part of measures to improve their capacity. This was announced during a side meeting held with the Afreximbank team at the ongoing Aviation Economic Conference in Dublin, Republic of Ireland. The meeting, facilitated by Boeing’s Senior…
A year after an eyewatering slide against the dollar, the naira is enjoying a rare run of stability, and analysts expect it to last. Nigeria’s battered currency has lost 70per cent against the greenback since foreign exchange controls were relaxed in 2023, including a steep depreciation 12 months ago. But its performance since December tells…
The Nigerian Communications Commission (NCC) acquiesced to the demand of mobile network operators (MNOs) to suspend debtor money deposit banks (DMBs) such as Zenith Bank, UBA, FCMB and six others, after attempts at a peaceful resolution of the conflict over cash to be paid for USSD sessions fell through. USSD or Unstructured Supplementary Service Data…
Global leader in energy management and automation, and recognised sustainability leader, Schneider Electric, will play an active role at the World Economic Forum Annual Meeting 2025 (WEF) advocating for more collaboration to increase uptake of energy technologies and automation solutions. Slated for Davos, the annual meeting gathers global leaders from all sectors to address the…
