Private sector crucial to successful AfCFTA implementation—- Africa Trade Forum delegates agree

The 2018 Africa Trade Forum concluded in Lagos, Nigeria, with delegates agreeing that while governments need to set a conducive environment through collective and coordinated actions for the successful implementation of the African Continental Free Trade Area (AfCFTA), the private sector should be the main driver of the AfCFTA. They also agreed that complementary interventions to boost competitiveness and reduce the high costs of doing business on the African continent would be crucial to ensure win-win gains from the AfCFTA – these will require proactive policies and programmes in the…

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U.S. Advocates Greater Investment in Girl-Child Education, More Female Political Participation

  United States Consul General F. John Bray has called for increased investment in the education of the girl-child and greater political participation by women in Nigeria. Delivering the keynote address on the second day of the 17th Annual Conference of Women in Management, Business and Public Service (WIMBIZ), in Lagos on November 2, Consul General Bray encouraged the women leaders to continue working to promote gender equality in Nigeria. He spoke on the topic “Unstoppable You: Reinvent & Reinvigorate” at the event attended by leading women from both the…

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Where are the BRT Buses commissioned by Buhari?

There are indications that the newly branded buses acquired by the Lagos State Government to ease transportation system in the state may have developed wings.  This has prompted Lagos residents to start murmuring regarding the whereabouts of the well over 100 buses recently commissioned by the President  Muhammadu Buhari. Our source claimed that three weeks ago, the buses seen being moved out of their station at the newly commissioned Lagos Bus Terminal that is still under construction, along Bank Anthony Way, Ikeja. According to sources who reside close to the…

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600 million Africans still lack access to electricity——- ECA Chief…as Nigeria hosts Africa Trade Forum 2018

(ECA), Executive Secretary, Vera Songwe, said in an age of trade wars, Africa is sending a strong message that trade deals and reforms can be approached through consensus-building and cooperation, leaving no one behind. According to ECA studies, Africa is less industrialized today than it was three decades ago. The continent’s manufacturing share of output and exports has steadily declined, and Africa’s exports remain largely concentrated in primary commodities and raw materials. Through AfCFTA, industrialization will help create employment for Africa’s growing youth population, thereby improving livelihoods, access to education…

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Ikeja electric bags award for commitment to safety

For its strict adherence to high safety policy and commitment to safety of life, Ikeja Electric Plc (IE), Nigeria’s leading Electricity Distribution Company has been honoured with the 2018 Concerned Organization of the Year. The award, which was presented by the World Safety Organizations (WSO), an International Association of HSE Professionals, is in recognition of IE’s outstanding dedication and support to ‘Making Safety a way of Life.” In another category, the company’s Head: Quality, Health, Safety & Environment (QHSE), Engineer Jamiu Badmos, also won the prestigious WSO-NG Environmental/Occupational Safety Person…

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Pirates kidnapped 12 crew from Container Ship

No fewer than 12  crew members working on Pomerenia Sky container ship, a Liberia-flagged vessel headed for the Nigerian port to Onne, have been kidnapped by suspected pirates. The crime was allegedly committed on Saturday morning when the attack occurred. The ship manager Midocean (IOM), said those abducted include eight from Poland, two Filipinos and a Ukrainian. It was later gathered that Nine crew members remain on board the vessel and are reportedly unharmed, and the vessel has sailed to safety. The alleged pirates are said to have been operating…

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The Full text of President Buhari’s speech in Rivers State on Thursday during the commissioning of the new International Wing of the Port Harcourt airport.

I am very pleased to formally commission the new International Terminal of the Port Harcourt Airport, Omagwa today. This ceremony represents a significant landmark for International air travelers, particularly from the South-South region, and the entire Country. You will recall that after opening the major airport terminals in the country in the late 70s and early 80s, not much was added to increase the passenger handling capacity of these facilities by successive administrations. Following the large increase in the national population with consequent surge in air passenger traffic, the capacity…

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Minimum Wage: Govt plays hide and seek

The last has not been heard about the minimum wage brouhaha. A new policy by the Federal Government appeared to have force closed expectations by workers that something fantastic would come out of the tripartite committee meeting recommendation on the minimum wage to the Federal Government. Henceforth, striking workers would not be paid for the period of the strike. This was the resolution of the Federal Executive Council (FEC) meeting which met last Wednesday. According to Dr. Chris Ngige, Minister of Labour and Employment, the approval of the “no work,…

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Coca-Cola engenders family sharing moments in new campaign

Brands remain relevant by understanding the attitude and requirements of their customers. This is often followed with products that fill that gap or need. With the ever-busy schedule of most parents today robbing quality moments amongst family members, the time seems ripe for products that will encourage bonding at homes, by encouraging sharing, which is a basic value of family members. Popular soft drink brand, Coca Cola has made a statement in this regard with the introduction of the one-litre pack, fondly called ‘Mama’. Offering a comparative pricing advantage, the…

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USAID increases support for good governance, health in Nigeria

The U.S. Agency for International Development (USAID) recently announced additional development assistance to support achieving the development goals outlined in the bilateral Development Objectives Assistance Agreement between the U.S. and Nigerian governments signed in 2015. Of the new funding, $25 million will strengthen good governance by supporting state governments’ efforts to bolster Nigeria’s Open Government Partnership commitments to improve transparency and fight corruption.  An additional $1.5 million will support a healthier, more educated population in targeted states through the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR), for a total…

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Power Supply: Consumers demand debt rebate months after prepaid meter deployment

Following the deployment of thousands of prepaid meters by Ikeja Electric (IE) to its customers in Shomolu area of Lagos to further close the metering gap, some customers have appealed to the electricity distribution company to offer debt forgiveness on their accumulated outstanding. Hitherto, the customers had lamented the burden of excessive and outrageous billing by the company, hence sought for pre-paid meters. This made IE to deploy over 1,500 prepaid meters to the community recently. However, some communities in Shomolu are yet to migrate from the analogue meters or…

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Funding for Commercial Real Estate on the Rise in Francophone Africa

The bilingual Francoreal Property Investment Summit (www.FRANCOREAL.com ) taking place on 16 & 17 October 2018 in Dakar, Senegal will provide a platform for the region and continent’s premier real estate investors and developers to gauge opportunities in one of the world’s fastest growing zones – known colloquially as Francophone West and Central Africa. Providing macroeconomic and currency stability; through the West African Monetary Union (UEMOA) regional block, this integrated and increasingly developed region has multiple competitive economic advantages according to the Chairman of BHCI, JD Diabira, the region’s first…

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FBNQuest Asset Management highlights investment opportunities for Diaspora Nigerians

FBNQuest Asset Management, a part of the FBN Holdings Plc Group, has called on Nigerians in the Diaspora to take advantage of the numerous investment opportunities available in Nigeria. This call was made at the just-concluded Nigerians in Diaspora Global Development Conference in London. The conference presented a rare opportunity for Nigerians in the diaspora to engage in constructive and interactive sessions, with key decision makers across different industries in Nigeria encouraging stakeholders to partner and collaborate on investment schemes. A major highlight of the event was the unveiling of…

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Ogun Boosts Investment  Drive With Investment Promotion Agency

The Ogun State Government has moved to boost it’s investment drive with the introduction of an investment promotion and facilitation agency, OgunInvest. Expected to replace the One-stop Shop Investment Centre (OSIC), the agency will promote and facilitate investment in the state. The state Commissioner for Information and Strategy, Otunba Adedayo Adeneye, in a statement, said the transition is subsequent upon an Executive Order of Governor Ibikunle Amosun. According to him, “the objective is to further develop and improve the investment climate of the state. The investment promotion and facilitation agency,…

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Paylater, the mobile app providing Nigerian consumers with access to credit, has reached 1 million downloads

 In Nigeria, a country of nearly 200 million people, 61% of the adult population is un- or underbanked. Fintech companies like Paylater represent a tremendous opportunity to get formal banking services in the hands of Nigerian consumers to provide much needed liquidity for entrepreneurial investment, personal development, or unexpected expenses. Consumer credit is nearly non-existent in Nigeria. But, Paylater (www.Paylater.ng) is issuing loans to Nigerians completely digitally, without seeing or speaking to customers. Customers can receive funds in their account in as little as 5 minutes, with no need for…

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Capital floods in for flourishing African fintech and payments sector

Financial transactions made via the internet or a mobile phone are expected to grow from US$200m at the moment to an eyewatering US$3bn by 2020 LONDON, United Kingdom, July 19, 2018/ — Close to US$100m of fundraising has been injected already in 2018 into Africa’s bourgeoning fintech and mobile payments sector, with a significant amount of capital still to be deployed this year, and prospects for the sector looking bullish, according to telecom, media and tech news and events company, TMT Finance (www.TMTFinance.com) Joseph d’Arrast, EMEA Editor at TMT Finance said:…

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Afrimart, First Made in Africa B2B Pan-Continental E-Commerce Platform launched

LAGOS, Nigeria, July 17, 2018/ — Pan-Africa’s pioneer Business to Business (B2B) e-commerce platform for made in Africa products, AFRIMART (www.Afrimart.com), has officially taken off today, offering prospects of catapulting the otherwise less exploited intra-Africa trade to higher heights of growth.   Afrimart is a one-stop-shop for all things African; the first Pan-African B2B-focused marketplace whose central aim is to create an infrastructure that supports rapid growth of seamless trade of goods and services across Africa and the rest of the world.   According to Fredrick Igbinedion, Afrimart’s President and Founder,…

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DHL partners with Mall for Africa on a marketplace site focused exclusively on delivering African-Made products to the World

The world’s leading international express services provider, today announced its partnership with e-commerce giant, MallforAfrica’s new platform, Marketplace Africa, to help online retailers bring African-made products to the US and global market. The site offers items from the continent’s most talented designers and artisans from a variety of categories including fashion, body care, handbags, jewelry and home décor.   Until today, African craftspeople have been isolated from global customers due to distance, fear of not receiving overseas payments, and complex shipping requirements.  Customers who wished to purchase products directly from…

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Trade war unsettles stocks in US, China

Trade war unsettles stocks in US, China

Trade war unsettles stocks in US, China By Newsdesk with agency report The trade war ignited by United States President Donald Trump against China has caused a dip in the stock markets of both countries.. The Dow Jones industrial average dropped more than 700 points as investors worried that trade tensions between the world’s largest economies would escalate, MSN reports on Friday. The planned sanctions include tariffs on $60 billion worth of Chinese imports as well as restrictions on Chinese investments. Trump said he is taking those steps in response to theft…

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CBN injects $210m in FOREX market

CBN injects $210m in FOREX market

CBN injects $210m in FOREX market By Newsdesk with agency report The Central Bank of Nigeria(CBN), on Monday injected 210 million dollars into the inter-bank Foreign Exchange Market, in its bid to sustain liquidity in the foreign exchange market. The Acting Director, Corporate Communications Department, CBN, Isaac Okoroafor, in a statement released on Monday, said that the move would ensure the continuous availability of foreign exchange to customers. Giving a breakdown, Okoroafor said that the bank offered 100 million dollars to authorised dealers in the wholesale segment of the market,…

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