FDI
20 Dec
The Minister of State for Industry, Senator John Owan-Enoh has revealed that the Free Trade Zones (FTZs) attracted $1 billion worth of Foreign Direct Investment (FDI) in 2024. Owan-Enoh disclosed this on Friday morning in a statement he shared on his official X account, after receiving the top management of the Nigeria Export Processing Zones…
3 Dec
The Enugu State Government and WANDE NEXUS, an Austrian firm, have formalised an agreement to implement the Sustainable Last Mile Connectivity and Advanced Metering Infrastructure (AMI) Project in Enugu.
18 Nov
Sir: Industrialisation has long been recognised as a key driver of economic development, and for Nigeria, it represents a critical pathway toward achieving sustainable growth and reducing poverty.
16 Nov
In the first part of this piece I challenged the political leaders in the country to be technically ready too with a blueprint for solution to some of the challenges plaguing the country in a strategic manner a former Governor, Kano State Ganduje had done with the Livestock Sector.
22 Oct
Nigeria must prioritise the mobilisation of domestic capital to address its mounting economic challenges, a development economist, Dr Temitope Laniran has said.
19 Oct
The Chairman/CEO of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, has said that Nigeria can make more money from diaspora home remittances, noting that in 2021, remittances reached $20.00 billion, surpassing foreign direct investment (FDI), which was $4.8 billion. The NIDCOM boss stated this on Saturday at the Ado Ekiti campus of ABUAD when…
9 Oct
Nigeria's Foreign Direct Investment (FDI) has dropped to $29.83 million in the second quarter of 2024, the lowest recorded since 2013, according to the latest data from the National Bureau of Statistics (NBS). The decline represents a 65.33% drop from the $86.03 million registered in the same period in 2023 and a 74.97% decline from…
8 Oct
Foreign investors bypassed 26 Nigerian states as the country’s capital importation reached $2.60 billion in the second quarter (Q2) of 2024, a 152.81% year-on-year increase compared to $1.03 billion in Q2 2023. This was disclosed in the latest capital importation report released by the National Bureau of Statistics (NBS) on Tuesday. The number of states…
18 Sep
A former governor of Edo State, Chief Lucky Igbinedion, on Wednesday, stressed the need for more Foreign Direct Investments (FDI) to boost the business environment and enhance the rapid development of the country. Igbinedion made the call during the commissioning of the Ultra Modern Lifestyle Value Mall in Benin City, Edo State, owned by a…
3 Sep
With a meagre six per cent Foreign Direct Investment (FDI) inflow going to the South-East region in the last four years, the region’s economy may be descending a steep slope faster than its stakeholders want to acknowledge.
30 Aug
Nigeria’s foreign capital Inflow fell to $770 million in April 2024, indicating a drop of 57.22 per cent from the $1.80 billion recorded in March 2024. The April 2024 Monthly Economic Report published by the Central Bank of Nigeria
25 Aug
Former Vice President Atiku Abubakar has criticised President Bola Tinubu over the fuel subsidy scam and human rights abuses under his administration, saying the president is not serious about attrating foreign direct investment (FDI) to the country. In a statement signed by his Special Assistant on Public Communication, Phrank Shaibu, Atiku accused Tinubu's administration of…
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Customs brokers and clearing agents have raised the alarm over what they called exploitative charges levied on a 20ft container by cargo consolidators.
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The Economic and Financial Crimes Commission (EFCC), yesterday, confirmed the release of the Accountant General of Delta State Government, Joy Enwa, who was arrested in connection with the alleged misappropriation of N1.3 trillion linked to the former Governor, Dr Ifeanyi Okowa.
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The Chairman and Chief Executive Officer of the National Hajj Commission of Nigeria (NAHCON), Professor Abdullahi Saleh Usman, has approved appointment of Alhaji Alidu Shutti as Acting Secretary of the Commission with immediate effect.