Economic inclusion programmes are cost-effective and impactful but are reaching only about one-in-ten people living in extreme poverty, according to a World Bank report released recently. Economic inclusion programmes, which provide cash transfers, skills training, business capital, coaching, and market access build a ladder out of poverty for the poorest and most vulnerable people, particularly…
Nigeria accounts for $28.2bn of the Sub-Saharan Africa (SSA) port project pipeline, driven by large-scale projects such as the $12bn Olokola Deep Sea Port in Ondo, a report by BMI, a Fitch Solutions Company has said. The research firm stated this in a report titled ‘Sub-Saharan African Transport Infrastructure Project Pipeline: Roads And Bridges Set…
The National Bureau of Statistics (NBS) in Abuja said that findings from multi-topic data on household income, assets, health, education, and economic activities have been used to design projects in sectors such as agriculture and food, education, water, social protection and jobs, and governance, valued at $8.9bn. Speaking at the official launch of the 2023/24…
There is no doubt that the federal government is having it tough with the management of the economy. The economic team has been grappling with the ailing economy but it appears that the its effort has not started paying off yet. This is because the inflation keeps rising, and so is the cost of living…
The removal of fuel price subsidies and the unification of official foreign exchange windows into a single rate, among other economic reforms by President Bola Tinubu, have been commended by 42 World Trade Organization (WTO) Member countries. This commendation comes in light of Nigeria’s policy review at the WTO Trade Policy Review exercise in Geneva,…
Vice President Kashim Shettima on Tuesday called for a collective effort to reform the economy, through accelerated diversification, industrialization, digitization, creative arts, manufacturing, and innovation, all of which are targeted toward sustained inclusive economic growth. This is as the vice president vowed to not relent in implementing fiscal reforms on the economic structure of the…
For the Nigeria Customs Service, Area 2 Command, Onne Port in Rivers State, it was a big haul earlier in the week, when you it caught some people with 22 containers loaded with illicit drugs, including Codeine cough syrup, diclofenac, and a large quantity of donkey skin. Comptroller Mohammed Babandede disclosed this information during a…
The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, at the 15th meeting of the African Continental Free Trade Area (AfCFTA), reaffirmed Nigeria’s commitment to upholding the digital trade protocol to boost investment, export, and economic reforms. The AfCFTA Digital Protocol, enacted in February 2024, establishes a legal framework to accelerate tech-driven innovation and…
Amidst the September 2024 inflationary surge, the National Bureau of Statistics (NBS) has said that Sokoto, Gombe and Yobe States led the country as the most expensive states to live in Nigeria. The Consumer Price Index (CPI) report recently released by the Bureau said the September 2024 headline inflation rose to 32.70 per cent. The…
To protect the local supply to its internal market, the military authorities in the Republic of Niger have banned rice, cereal and other food exports to all countries. The food security measures exempts Burkina Faso and Mali, its fellow junta-led government. Recall the Economic Community of West African States (ECOWAS) lifted its bloc on July…
