Less than two months after a major crude oil spill occurred at Bukuma in Degema Local Government Area of Rivers State, another spill has been recorded at Ogale in Eleme Local Government Area of the state. The spills have impacted communities, Rivers and farmlands in four out of the 23 local government areas of the…
The Federal Government of Nigeria has embarked on an ambitious plan to capture the data of 2 million farmers across the country within the next 3 months. This effort is led by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, who signed a Memorandum of Understanding with the National Identity Management Commission (NIMC)…
The Statistician-General of the Federation, Prince Adeyemi Adeniran has said rebasing the country’s Gross Domestic Product (GDP) and Consumer Price Index (CPI) modules of compilation is not targeted to please the president or people within the corridors of power in Nigeria. Adeniran had announced that the GDP rebasing is a vital exercise that ensures economic…
The African Development Bank (AfDB), in partnership with the World Bank Group, pledged $40bn on Tuesday to achieve the “Mission 300” initiative. The Mission 300 initiative, projected for 2030, is a collaborative effort between the AfDB and the World Bank to address the global energy accessibility gap, where nearly 600 million people lack electricity. The…
The Nigeria Export Processing Zones Authority has unveiled its groundbreaking Automated E-Platform for the Free Trade Zone (FTZ) scheme, a development hailed as a significant step towards the digitalization and modernization of Nigeria’s economic zones. The platform is expected to revolutionize how the FTZ scheme operates, ensuring transparency, streamlining processes, and attracting more investments into…
Governor Peter Mbah has signed a Land Use Regulation (2025) Act as well as Executive Order No. 1, 2025, designating some areas in the state as urban areas. Speaking at a brief signing ceremony, he explained the provisions contained in the Executive Order, entitled “Enugu State Designation of Land as Urban Areas.” He disclosed that…
The Chief Executive Officer of the Nigerian Economic Summit Group (NESG), Dr. Tayo Aduloju, on Thursday called for the rebasing of the country’s economy to stimulate new growth that is indispensable for crafting evidence-based policies to strengthen sectoral performance. The is as the National Bureau of Statistics (NBS) has said data emanateing from the rebased…
Special Adviser to the President on Economic Matters, Tope Fasua, has said that the strategy of floating the naira made local goods cheaper and e-commerce lucrative. Fasua made the assertion in an interview on Arise Tv. He said the decision of the Central Bank of Nigeria (CBN) to float the naira was strategic. In June…
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…
