African Export-Import Bank Increases Share Capital to $25b Shareholders of African Export-Import Bank (Afreximbank) has increased the bank’s authroised capital from $5 billion to $25 billion. At the annual general meeting of the bank, shareholders voted to increase the authorised share capital in recognition of the...

AfDB President Faults Food Import Tax Suspension President of the African Development Bank, AfBD, Mr. Akinwumi Adesina, has said the Federal Government’s decision to suspend duties and taxes on imported food commodities was depressing. Adesina stated this at a retreat organised by the African Primates of...

Nigeria Records 87m Bribery Cases in 2023 - NBS According to the latest report from the National Bureau of Statistics (NBS), Nigeria has witnessed a significant decrease in bribery cases, with approximately 87 million bribes paid in 2023, compared to 117 million in 2019. This...

NNPC No Longer Owns 20% of Dangote Refinery - Dangote The Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote, has revealed that the Nigerian National Petroleum Corporation (NNPC) Limited no longer owns a 20% stake in Dangote Refinery. Dangote disclosed this during a media parley...

Manufactured Goods Imports Surge by 139% to N5.74trn The importation of manufactured goods into Nigeria surged astronomically by 139 per cent, year-on-year (YoY), to N5.4 trillion in the first quarter of 2024 (Q1’24) from N2.40 trillion in the corresponding period of 2023 (Q1’23). Stakeholders have attributed...

Tinubu Appoints New Head for ICRC President Bola Tinubu has approved the appointment of Mr. Jobson Ewalefoh as the new Director-General of the Infrastructure Concession Regulatory Commission (ICRC). Mr. Ewalefoh is a professional with years of experience in government and development organizations, in addition to expertise...