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Foreign Direct Investment

Senator Emma Nwaka, a one-time chairman of the Peoples Democratic Party (PDP) in the state stated this in a chart with newsmen in Umuahia, the capital, describing the development as very encouraging.

Senator Nwaka: Made-in-Aba products now in West African markets

Senator Emma Nwaka, a one-time chairman of the Peoples Democratic Party (PDP) in the state stated this in a chart with newsmen in Umuahia, the capital, describing the development as very encouraging.

SEC: Cryptocurrency market worth $2 trillion, it can’t be ignored

The Head of Department, Registration, Exchanges, Market Infrastructure and Innovation Department of SEC, Timi Agama, disclosed this during a virtual lecture organised by the Association of Capital Market Academics of Nigeria (ACMAN) in Abuja on Sunday.
FILE PHOTO - A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS-Yuriko Nakao-File Photo

Forex: Nigerian manufacturers seek policy review, rates unification

Manufacturers and industrialists on Wednesday appealed to the Federal Government and the Central Bank of Nigeria for a review of the available foreign exchange (FX) policies in the country.
Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, who conveyed the Ministry’s position to the Honourable Minister of Finance, Hajiya Zainab Ahmed, in Abuja, reiterated the commitment of the Honorable Minister of Transportation, Rt. Honourable Rotimi Chibuike Amaechi towards ensuring the growth of maritime in Nigeria.

Official: Belgian investors express interest in Nigeria’s maritime transport policy as an investment vehicle

Executive officers of the Port of Antwerp International have expressed interest in Nigeria’s new National Maritime Transport Policy, under development, for possible windows of investment opportunity for Belgian entities.
FILE PHOTO - A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS-Yuriko Nakao-File Photo

NBS: Capital importation declines by $14.31 billion in 2020

The total value of capital importation in 2020 stood at 9.68 billion dollars compared to 23.99 billion dollars recorded in 2019.
Governor Dapo Abiodun - Ogun Isolation Corornavirus Center 4

[email protected]: Governor Abiodun vows to deepen legacies inherited from past leaders

Ogun State Governor, Prince Dapo Abiodun, has assured all residents of the state that his administration will continue to deepen legacies inherited from past leaders.
FILE PHOTO - A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS-Yuriko Nakao-File Photo

UN: Foreign direct investment inflows to Nigeria dropped by 21.21 percent in 2020

According to the global investment trends monitor report released by the United Nations Conference on Trade and Development (UNCTAD), FDI inflows dropped from $3.3 billion in 2019 to $2.6 billion in 2020.

TUC decries spiraling unemployment rate in Nigeria

The Trade Union Congress of Nigeria (TUC) has decried the nation’s spiraling unemployment rate, citing the population of the unemployed as exceeding the combined population of 35 of Africa’s 54 countries.

NBS: Nigeria’s Q3 capital importation stands at $1.46 billion

The total value of capital importation into Nigeria stood at 1.46 billion dollars in the third quarter of 2020, the National Bureau of Statistics (NBS) says.

PDP accuses President Buhari of plunging Nigeria into recession

The Peoples Democratic Party (PDP) yesterday called on President Muhammadu Buhari and his party, the All Progressives Congress (APC), to accept their failure and allow competent, transparent and honest hands to effectively manage the economy, as that is the only way to save Nigeria from an imminent economic collapse.
The Kayode Fayemi administration in Ekiti State says it has defrayed inherited debts to the tune of 31 billion naira since assumption of office.

NEPZA, Ekiti seal agric zone deal

The Nigeria Export Processing Zones Authority (NEPZA), in partnership with Ekiti State, is set to establish a Knowledge-based and Agricultural Special Economic Zone in the state.
Mr Adeniyi Adebayo, the Minister of Industry, Trade and Investment, says the Federal Government has initiated a process to revive the collapsed industries in Kano State.

Nigerian government to revive collapsed industries in Kano – minister

Mr Otumba Adeniyi, the Minister of Industry, Trade and Investment, says the Federal Government has initiated a process to revive the collapsed industries in Kano State.
Prof. Adesoji Adesugba, Managing Director, Nigeria Export Processing Zones Authority (NEPZA), has described the Dangote Petrochemical Free Trade Zone Enterprise as a ‘one-world project’, capable of fast-tracking the country’s industrialisation process.

NEPZA chief tours project site, applauds Dangote petrochemical enterprise

Prof. Adesoji Adesugba, Managing Director, Nigeria Export Processing Zones Authority (NEPZA), has described the Dangote Petrochemical Free Trade Zone Enterprise as a ‘one-world project’, capable of fast-tracking the country’s industrialisation process.
Shoppers leave the Shoprite store in Daveyton, South Africa May 23, 2018. REUTERS-Siphiwe Sibeko

NIPC: Shoprite move an opportunity for Nigerian investors

The announcement by Shoprite Holdings Limited, the South African supermarket chain operator, of a formal process to consider the potential sale of all or a majority stake in its Retail Supermarkets Nigeria Limited may be an opporunity for Nigerian investors, the Nigerian Investment Promotion Commission (NIPC) has said.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

MAN welcomes CBN’s unification of exchange rates

The Manufacturers Association of Nigeria (MAN) says the unification of the country’s exchange rate is a welcome development that will engender increased investment inflow in the real sector of the economy.
Minister for Foreign Affairs, Geoffrey Onyeama has said that the Nigerian Government would use the Forum of the UN General Assembly (UNGA) to seek global support fighting terrorism and increasing Foreign Direct Investments (FDI).

Minister extols Nigeria’s security as top success story

The Minister of Foreign Affairs, Geoffrey Onyeama, has identified security as a major success so far recorded by the President Muhammadu Buhari led administration since the past five years.
Nigeria’s total value of capital import stood at $5,854.38 million in the First Quarter of the year, according to the National Bureau of Statistics (NBS).

Nigeria’s Q1 capital import hits $5,854.38 million

Nigeria’s total value of capital import stood at $5,854.38 million in the First Quarter of the year, according to the National Bureau of Statistics (NBS).

World Bank forecasts sharp fall in remittances to Nigeria, others

The World Bank said remittances will decline sharply by about 23.1 percent to sub-Nigeria and other Saharan African nations this year, due to the economic crisis induced by the COVID-19 pandemic and shutdown.
South African President Cyril Ramaphosa make a speech at the official funeral service of the later former Zimbabwean president Robert Mugabe on September 14, 2019 at National Sports Stadium in Harare. South Africa’s President Cyril Ramaphosa was jeered and whistled during his speech before he apologised for recent xenophobic attacks in his home country. At least 12 people have been killed this month in a surge in violence and mob attacks against foreign-owned businesses in and around Johannesburg, South Africa’s largest city.TONY KARUMBA / AFP

South Africa’s foreign direct investment dips in 2019

South Africa saw a dip in foreign direct investment in 2019 compared to the previous year, with inflows falling to 66.8 billion rand ($3.78 billion) from 72.1 billion rand, the central bank said on Tuesday.

Database an avenue for foreign direct investment – NITDA chief

As efforts to deepen the penetration of Information Technology (IT) across the country intensifies, the Director-General, National Information Technology Development Agency (NITDA), Kashifu Abdullahi, has said maintaining databases could be an avenue foreign direct investment.
Aiteo Group

Aiteo: How Nigeria can meet its crude oil projections

The Group Managing Director of Aiteo Eastern Exploration and Production Company Limited, Mr. Victor Okoronkwo, yesterday, disclosed that Nigeria can only achieve its goals of three million barrels of crude oil per day and 40 billion barrels crude oil reserves if it ensures a stable operating environment and the establishment of a robust regulatory and fiscal framework.
The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

AfDB: Africa’s economy to rise to 3.9 percent in 2020

The African Development Bank (AfDB) African has projected economic growth to rise from 3.4 per cent in 2019 to 3.9 per cent in 2020 and 4.1 per cent in 2021.

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Wilfred Ndidi and Kelechi Iheanacho were on parade in Leicester City’s 1-0 loss against Norwich City in Friday’s Premier League game.

Leicester boss explains Kelechi Iheanacho substitution in draw vs Burnley

Leicester City forward Kelechi Iheanacho may have produced “fabulous technique” for his goal but it was not enough to keep him on the pitch for 90 minutes in the 1-1 away draw against Burnley on Wednesday night.
The Senate President, Ahmad Lawan, has said that for appreciable development to take place in the country, more women must be regarded and enlisted to take up more spaces in governance.

Senate accuses NNPC of payment of N443 billion as subsidy without appropriation

The Senate Committee on Public Accounts has uncovered how the Nigerian National Petroleum Corporation (NNPC) paid N443 billion without appropriation.

Roadside bomb kills doctor in Afghanistan’s east

A roadside bomb explosion killed a female doctor in the eastern city of Jalalabad, provincial officials said on Thursday, days after three female media workers were shot dead in the same city.
Nigerian table tennis star Aruna Quadri has described his defeat to Ahmed Saleh of Egypt in the final of 2020 ITTF Africa Cup as a painful one.

WTT: Aruna Quadri starts championship with win

Africa’s number one male Table Tennis player, Aruna Quadri started on a bright note at the World Table Tennis [WTT] championship in Doha on Wednesday.
The Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan, issued the threat in a circular marked HCSF-109-S.1-120 with the title, ‘Unauthorised circulation of official documents-information on social media.’

Federal government extends workers’ stay-at-home directive to March 31

The federal government has further extended the work-from-home directive to all public workers on Salary Grade Levels 12 and below until March 31 as a measure to mitigate the spread of COVID-19.

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The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, SAN,

AGF tackles Itse Sagay over comment on new EFCC chief

The Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami (SAN), yesterday condemned the recent statement by the Chairman of the Presidential Advisory Committee Against Corruption (PACAC), Professor Itse Sagay, that the AGF would not allow the newly appointed Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa succeed on account of being a “powerful politician” that will interfere in Bawa’s work.
Nana Addo Dankwa Akufo-Addo is a Ghanaian politician currently the President of Ghana, in office since January 2017.

Ghana’s president: Taking coronavirus vaccine will not alter your DNA

Ghanaian President Nana Akufo-Addo urged citizens of the West African state on Sunday to ignore conspiracy theories surrounding coronavirus vaccines ahead of the launch of its nationwide inoculation campaign against the virus on Tuesday.
1. Manchester United will continue to ease Shola Shoretire into the first-team after he became the club's youngest debutant in Europe.

Shola Shoretire creates record in Manchester United vs Sociedad Europa League game

Shola Shoretire created a new record at Manchester United after making his debut in Europe during Thursday’s Europa League home tie against Real Sociedad.

Fuel queues worsen amidst scarcity in Abuja, environs

“The issue around the retail price has not been resolved at all. It seems the government has jettisoned deregulation. We are being forced to sell at a price that is not profitable. The ground is not level and we are told to sell at the same price with NNPC retail stations, that we shouldn’t increase the price. This is the cause of the scarcity,” the MOMAN official said.
FILE PHOTO - A closer view of an Iraq-Syria border crossing and buildings before airstrikes, seen in this February 3, 2021 handout satellite image provided by Maxar. Satellite image (copyright) 2021 Maxar Technologies-Handout via REUTERS

Iran: U.S. air strikes in Syria encourage terrorism in the region

Friday’s U.S. air strikes against Iran-backed militias in eastern Syria encourage terrorism in the region, Iran’s top security official, Ali Shamkhani, said on Saturday.