Free Trade Zone tax: Nigeria may lose $200bn FDIs, 600,000 jobs
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has issued a warning regarding the Federal Government's proposed tax reforms targeting Free Trade Zones (FTZs), cautioning that…
Volkswagen revolutionise agriculture in Nigeria with new E-tractors
German automobile manufacturer Volkswagen has announced plans to introduce electric tractors (e-tractors) into Nigeria. This initiative, backed by the German government, aims to enhance agricultural mechanisation, improve productivity, and promote…
Nigeria no longer blacklisted from airplane leasing
The Chief Operating Officer of United Nigeria Airlines, Osita Okonkwo, has confirmed that Nigeria is no longer blacklisted in the global aviation leasing market, paving the way for improved access…
Kuda Group records 49% increase in its revenue
Kuda Group, the holding company of Nigerian neobank Kuda Bank, reported $32.1 million in revenue for 2023, falling short of its projected $40 million target. Despite this shortfall, the bank…
Nigeria records low yields on its latest Treasury bills auction
Nigeria’s latest treasury bills auction on February 19, 2025, attracted significant investor interest, with total subscriptions reaching N2.41 trillion across the three offered tenors. However, this marked a decline from…
Nigeria partners with Germany to strengthen agro-based investment
Nigeria and Germany are strengthening their partnership in agro-based investments through the 10th edition of Agrofood and Plastprintpack Nigeria. The event, organized by Fairtrade Messe, marks a decade of innovation…
CBN retains interest rate at 27.5% in its first MPC meeting
In a significant monetary policy decision, the Central Bank of Nigeria (CBN) has opted to maintain the benchmark interest rate at 27.5%. Other monetary policy decisions were also retained, including…
Interest rate pegged at 1.9% as Botswana targets lower inflation
Botswana's central bank has maintained its monetary policy rate at 1.90% for the third consecutive meeting, as announced on Thursday.In January, inflation in the Southern African nation rose to 2.5%…
Nigeria’s vast lithium reserve now attracting global demand
Nigeria’s vast lithium reserves, estimated to be worth over $34 billion, is attracting global demand.Lithium is a key component in the production of batteries for electric vehicles (EVs) and renewable…
Kenya to phase out diesel power for cleaner energy
Kenya will shut down a diesel power plant in Lodwar, as part of the broader push to eliminate fossil fuels from its electricity grid.President William Ruto announced Wednesday that the…
