The multiple hurdles on Nigeria’s path to commercial 5G
Multiple hurdles stand in the way of Nigeria’s ambitious plan to deploy the fifth-generation (5G) technology by January 2022. Africa’s largest economy aims to join a global race of countries that include the United States and South Korea in positioning to stay competitive
VAT dispute creates uncertainty for investors eyeing Nigeria
The raging controversy over who should collect Value Added Tax (VAT) between some state governments and the Federal Inland Revenue Service (FIRS) has created uncertainty that could disrupt investors’ plans, some analysts have said
Weak construction sector growth contradicts Buhari’s Independence Day speech
The weak growth of Nigeria’s construction sector as well as the broader economy since 2016 contradicts President Muhammadu Buhari’s claim that infrastructure spending has been impactfu
Packaging industry in Nigeria underexplored despite opportunities
Nigeria’s Packaging Industry despite its resources and reward potential remains one of the most underexplored sectors. This has limited its chances of contributing to economic growth.
Ikeja Electric customers to experience outage from Oct. 11
Ikeja Electric Plc says some areas under its operational network will experience outages for a period of eight weeks to enable the Transmission Company of Nigeria (TCN) to re-conduct its 132KV lines
Access Bank’s second $500m Eurobond oversubscribed by 200%
Access Bank Plc has sold another $500 million Eurobond to raise medium-term funding that will enhance its capacity and support general banking activities. The bank has also said that the Eurobond has been oversubscribed by more than 200 percent
Oil at highest since 2014 as OPEC plots gradual hike in supply
Oil has risen to the highest since 2014 with Brent topping $80.75 a barrel as an OPEC+ panel recommended proceeding with gradual supply hikes amid a rapidly tightening market
Insecurity and Agricultural Productivity in Nigeria
Prior to the discovery of oil in the 1970s, Nigeria was self-sufficient in food production and a major export-er of cash and food crops like yam, maize, cassava, cotton, rubber, cocoa, and palm products. As recently as the 1970s, agriculture was the primary foreign exchange earner and contributed significantly to Nigeria’s GDP.
RMAFC Commences Review Process for New Revenue Formula Monday
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) will Monday commence the process of reviewing the current revenue allocation formula for the three tiers of government in the country.
Manufacturing Cannot Thrive with Cheaper Imports, Says LCCI
The Lagos Chamber of Commerce and Industry has said the growing decline in the non-oil sector productivity of the Nigeria economy makes it vulnerable to global shocks and weak in economic inclusion
Grain Dip Further Amid Increased Supply as Harvest Draws Near
Last week, an increased supply of grains in the open market caused prices to decline across most grains, maintaining a 3-week bearish trend. Farmers remain optimistic of a better harvest this year against last year and are positioned to take advantage of higher prices of commodities.