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Nigeria’s 32m-ton annual solid waste ripe for investments

Nigeria’s failure to formalize its waste recycling sector deprives the country of value from an estimated 32 million tonnes of waste generated yearly and complicates environmental pollution, BusinessDay analysis shows.

Lagos sets pace in turning trash to treasure

From creating local equipment to aid waste disposal to forming partnerships with the private sector, Lagos State is setting up a winning model on how to formalise waste management in Nigeria.

Firms brace for lower profits amid high energy costs

Several Nigerian businesses are bracing for lower-than-expected first-quarter profits over rising energy costs in Africa’s biggest economy.

Why 9.7 million Nigerian children may never return to school – UNICEF

Over 9.7 million children in Nigeria are at risk of never returning to school due to insecurity, and other factors, the United Nations Children Fund (UNICEF) has disclosed. The UN Agency also said about 10.5 million Nigerian children, aged between five and 14, were not in school before the COVID-19 pandemic

Naira depreciates after CBN’s rate hold

Nigeria’s currency on Tuesday depreciated by 0.18 percent to close at N417.00 per dollar, compared to the last close of N416.25 on Monday at the Investors and Exporters (I&E) forex window. This came a day after the Central Bank of Nigeria (CBN) kept its benchmark interest rate known as the Monetary Policy Rate at 11.5%

Russia-Ukraine conflict: Nigeria-Morocco Gas Pipeline project to strengthen Nigeria – experts

Energy experts said the Russia and Ukraine conflict has shown that the conceptualized Nigeria–Morocco Gas Pipeline (NMGP) project could strengthen Nigeria’s economy as many European countries are shying away from Russia’s energy supply.

Europe Divided Over New Oil and Coal Sanctions – OIR 220322

 The international community was swift to react to Russia’s invasion of Ukraine nearly a month ago, but Western economies are now running out of options as they look to increase the Kremlin’s pain. Europe’s next round of sanctions should hit Russian oil and coal exports.  

Oil theft: FG Probes Oil Firms Over Production Output, Others

 The Federal Government has set up a panel of experts to audit the activities of oil companies in the upstream petroleum industry in the last two years so as to ascertain the actual volume of crude oil stolen by vandals.  

Nigeria, Other African Countries Risk Food Riots, Political Crises – AfDB

 The President of the African Development Bank, Akinwumi Adesina, has warned that many African countries may face food riots and political crises due to the war in Ukraine.  

Global Recovery Stopped in Its Tracks by War And Covid In March

 The Global Sales Managers Index, combining data for the three great global growth drivers of economic activity (China, India and the USA) shows sales growth, business confidence and staffing levels all falling in March to levels not seen for over a year.  

We have designated 4 airports-Lagos, Abuja, Kano and PH-as Free Trade Zones,

Customs duty is not applicable; removed VAT on all forms of shared transportation, including air transport; and exempted commercial aircraft and spare parts from VAT payment. Source President Muhammadu Buhari Read More

Investors to Earn Over N780bn from Proposed 2021 Dividends

So far, 16 companies across seven sectors namely; Consumer goods, Financial services, Industrial goods, Oil and Gas, Services, Healthcare and IT, have paid out a total of N782.192 billion as final dividend payout for the year ended December 31, 2021.  

Massive Job Cut Looms as Dollar Hits N590, Forex Scarcity Bites Harder

The lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1, The PUNCH has learnt.  

MultiChoice Increases prices of GOtv, DStv Packages

MultiChoice Nigeria is the Nigerian subsidiary of MultiChoice Africa, owner of DStv and GOtv. “In light of the rising costs of inflation and business operations, we have had to review the price of our packages to keep delighting our customers with great entertainment, anytime and anywhere”, the company said in a statement on Tuesday.  

NERC: We are Working with Stakeholders to Address Current Issues in Power Sector

Sanusi Garba, chairman, Nigerian Electricity Regulatory Commission (NERC), says stakeholders in the power industry are working to address the current challenges in the sector.  

Brent Crude Prices Rise to $114 p/b as EU Mulls Russian Oil Ban

Oil prices jumped by more than $6 yesterday, with Brent crude climbing above $114 a barrel, as European Union (EU) nations considered joining the United States in a Russian oil embargo after a weekend attack on Saudi oil facilities.  

Biden to Unveil New Russia Sanctions, Energy Aid in Brussels

President Joe Biden and allies meeting Thursday in Brussels are expected to announce both new sanctions against Russia over its invasion of Ukraine and fresh measures designed to keep the Kremlin from sidestepping existing economic penalties, the White House said.  

Microsoft Confirms Hacker Group Lapsus$ Breached Its Systems

 Microsoft Corp. said that the hacker group Lapsus$ gained “limited access” to its systems, following a claim by the group that it obtained source code for the Bing search engine and Cortana voice assistant.  

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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