The International Monetary Fund (IMF) has approved the disbursement of 10 million dollars to Somalia to boost the country’s economic reforms. IMF in a statement said that the latest funding “brings Somalia’s total disbursement under the current programme, originally approved in Dec. 2023, to 60 million dollars.’’ Bo Li, the IMF’s Deputy Managing Director, said…
Mr Philip Mshelbila, Managing Director of Nigeria Liquefied Natural Gas (LNG) Ltd., says Africa’s energy sector needs over 200 billion dollars in annual investments to meet its energy and climate goals. Mshelbila spoke at the networking session reception, hosted by Nigeria LNG in Berlin, Germany, on Monday. The News Agency of Nigeria (NAN) reports that…
The African Development Bank (AfDB) has provided key insights into how Nigeria and other African nations can address their growing debt burdens and foreign exchange challenges. The Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that strategic borrowing and political stability were critical for growth….
The African Development Bank (AfDB), has called for urgent structural reforms to tackle Africa’s deepening economic challenges that include currency depreciation, rising inflation and an escalating import bill. Its Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that global and local factors contribute to the continent’s…
JBS S.A. a Brazilian multinational company, one of the largest meat processing firm, will visit Kebbi on Dec. 9, to evaluate potential areas of collaboration and investment on livestock enterprise. The Kebbi Commissioner for Animal Health, Husbandry and Fisheries, Alhaji Kabiru Usman-Alaramma, made this known while briefing newsmen in Birnin Kebbi on Sunday. “Today, I…
The Tinubu Media Volunteers (TMV) has hailed the Memorandum of Understanding (MoU) signed between Nigeria and France on mining during President Bola Tinubu’s recent state visit to France. Mr Chukwudi Enekwechi, TMV Chairman in a statement on Wednesday in Abuja, said the agreement would go a long way in making Nigeria’s solid mineral sector more…
President Cyril Ramaphosa has expressed South Africa’s interest in collaborating with Nigeria to harness lithium to drive the green energy transition and support the development of electric vehicles (EV) batteries. Ramaphosa said this on Tuesday in Cape Town, South Africa, at the Nigeria -South Africa Business Roundtable. He proposed leveraging Nigeria’s vast lithium reserves as…
Nigeria and South Africa have operationalised the Joint Ministerial Advisory Council on Industry, Trade, and Investment to enhance economic cooperation between the two leading African economies. President Cyril Ramaphosa said this at the Nigeria -South Africa Business Roundtable on Tuesday in Cape Town, South Africa. At the roundtable, President Bola Tinubu said that Nigeria was…
The Abuja Chamber of Commerce and Industry (ACCI) has congratulated Dr Ngozi Okonjo-Iweala on her reappointment as Director-General of the World Trade Organisation (WTO), for a second term. Dr Emeka Obegolu, ACCI’s President in a statement described the reappointment as a well-deserved recognition of her exceptional leadership, remarkable vision, and unwavering dedication to fostering global…
President Cyril Ramaphosa of South Africa says tourists from Nigeria can now apply for a visa without submitting a passport. Ramaphosa announced this on Tuesday at the opening of the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) in Cape Town, which President Bola Tinubu attended. He said South Africa had simplified its visa…
