NIGERIA'S minister of state for power Goddy Agba has revealed that a sum of $4bn needs to be invested into the sector annually if the country is to access clean and renewable energy in line with global convention.
A signatory to the 2015 Paris climate Change Agreement, Nigeria is committed to reducing greenhouse gases and...
NIGERIA's federal government is planning to borrow an extra N5.6trn ($14.6bn) during the course of this year to help fund the 2021 budget as the economic meltdown precipitated by the coronavirus pandemic has made it impossible to raise the N13.59 ($35.4bn) budgeted.
Faced with an impossible economic situation, Nigeria's...
Ayo Akinfe
(1) I for one am dead scared about Nigeria’s economic prospects in 2021. We are simply not going to sell the quantities of crude oil required at the needed prices for the government to afford any new capital projects
(2) With the African Development Bank pointing out that we have an annual infrastructural deficit of...
WORLD Bank officials have approved another $1.5bn loan for Nigeria as part of a fresh plan to help the country recover from the debilitating effects of the coronavirus pandemic which has hit the Nigerian economy hard.
Being a mono-economy dependent on crude oil exports, Nigeria's federal government generates up to 90% of its...
NIGERIA has been given a brief economic lifeline after crude oil prices recently rallied to over $50 a barrel due to a combination of news that a coronavirus vaccine will be soon be available and a tanker explosion in Saudi Arabia which created supply worries.
Following the outbreak of the global pandemic, industrial...
NIGERIA'S House of Representatives has initiated moves to stop the country from signing what lawmakers have described as obnoxious loan agreements as part of a move to address the ballooning public debt and the growing inability of the government to service these debts.
According to a World Bank report published earlier this...
CONTINENTAL lender the African Development Bank (AfDB) is partnering with several stakeholders to design a pan-African private equity fund for agriculture to be known as the Fund for Agricultural Finance in Africa (Fafina).
Currently Africa’s premier development finance institution, the AfDB comprises of 54 regional and 27...
NIGERIA'S avoided total economic collapse earlier this year at the height of the coronavirus pandemic lockdown in April when crude oil prices collapsed to such a low level that the federal government was begging buyers to make purchases at $9 a barrel.
Being a mono-economy, over 90% of Nigerian government revenue comes from...
Ayo Akinfe
(1) I have studied the recent report just published by the Nigerian Bureau of Statistics and from everything I can see, the economy looks set to shrink by between 9% and 10% during the course of 2020 as a result of the Covid-19 pandemic
(2) Anyone thinking the government can bail the country out is...
CONTINENTAL lender the African Development Bank (AfDB) was been selected as the best issuer in the year in an online poll for coming up with the idea of a $3bn dollar-denominated Covid-19 social bond issued on March 27.
As a result of the global coronavirus pandemic, Africa has been hit hard as most of her countries have...
