(AFRICAN EXAMINER) – African Development Bank (AfDB) has announced that it will be presenting its African Economic Outlook report for the 2022 fiscal year to Asian audiences. The African Economic Outlook is the AfDB’s premier flagship report that serves as a tool for economic intelligence, policy dialogue, and operational effectiveness. The theme for the report, […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Limited (NNPC Ltd) has declared a profit after tax of N674 billion for the financial year ended Dec. 31, 2021. The profit represented a growth of 134.84 per cent when compared with N287 billion profit in 2020 which was recorded under the old Nigerian National Petroleum Corporation […]
The Nigerian National Petroleum Company Limited (NNPC LTD.) has completed the acquisition of OVH Energy Marketing Limited (OVHEM) downstream assets under an Accelerated Network Expansion (ANEX) Initiative. Unveiling the acquisition on Saturday in Abuja, Sen. Margery Okadigbo, NNPC Ltd Board Chairman, said it would strengthen the downstream business portfolio to enhance profitability and guarantee National […]
(AFRICAN EXAMINER) – The dollar hit N735 in the parallel market on Wednesday as political campaign activities began in the country. According to Bureau De Change operators in Lagos and Abuja, dollar price had increased from N718 – N720 to N728-N735 in the last one week. A BDC operator at Amuwo-Odofin in Lagos, Bala Usman, […]
(AFRICAN EXAMINER) – In consideration of the galloping global and local inflationary levels, the Monetary Policy Committee of the Central Bank of Nigeria, on Tuesday, raised the benchmark interest rate from 14 to 15.5 per cent. This represents a 150-basis-point increase from the 14 per cent rate voted during the last MPC meeting in July. […]
(AFRICAN EXAMINER) – The African Development Bank (AfDB) has signed a grant agreement for $400,000 with the Caisse des dépôts et consignations of Côte d’Ivoire (CDC-CI). The funds will support CDC-CI, a State-owned bank that handles official deposits to accelerate its activities to assist Ivorian small and medium-sized enterprises. The agreement was signed in Abidjan. […]
(AFRICAN EXAMINER) – The United Nations Development Programme (UNDP), has said that the annual Sustainable Development Goal (SDG) financing gap in Africa has increased to $353 billion due to unexpected external shocks, such as the COVID-19 pandemic. This was disclosed by the UNDP Deputy Assistant Administrator and Officer-in-Charge, Regional Bureau for Arab States, Sarah Poole. […]
(AFRICAN EXAMINER) – First Bank of Nigeria Ltd., in partnership with Verve International, has inaugurated the third National Consumer promo designed to reward users of FirstBank verve card with gifts and cash prizes. Mr Chuma Ezirim, Group Executive, e-Business and Retail Products, FirstBank, said this in a statement on Thursday in Lagos. He said the […]
(AFRICAN EXAMINER) – A frontline multinational commercial bank, Access Bank PLC, has reiterated its commitment to improving the access of women to healthcare services in Nigeria. Doubling down on efforts to accelerate the achievement of SDG 3, which focuses on good health and well-being, the Bank through its ‘W’ Initiative is set to embark on […]
(AFRICAN EXAMINER) – Average price of 5kg cooking gas increased from N4,397.68 in July to N4,456.56 in August. The assertion was made by the National Bureau of Statistics (NBS), in its Cooking Gas Price Watch issued on Tuesday in Abuja. It noted that the price in August indicated a 1.34 per cent increase on a […]
(AFRICAN EXAMINER) – Small and Medium Enterprises (SMEs) in Africa are at a vantage position to benefit maximally from the newly released series of toolkits by the African Development Bank (AfDB). The toolkits are aimed at assisting SMEs in tapping green investment opportunities contained in countries’ Nationally Determined Contributions (NDCs) under the Paris Agreement. Released […]
(AFRICAN EXAMINER) – President of African Development Bank (AfDB) president Dr. Akinwumi Adesina will join other eminent dignitaries and global leaders for the second edition of the Nigeria International Economic Partnership Forum (NIEPF), holding in New York, United States. The conference which is scheduled for Thursday, on the sidelines of the 77th United Nations General […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) has announced the appointment of Ms. Caroline Kende-Robb as the Director of Strategy and Operational Policies Department of the bank. Ms. Kende-Robb, a British national, brings over 30 years of leadership and management experience in development and humanitarian sectors, coupled with deep knowledge and practical experience in achieving […]
(AFRICAN EXAMINER) – African Development Bank (AfDB), has issued a 200 million South African rand (ZAR), 1-year Green Bond which will be due September 2023. The bond, which pays a coupon of 6.90 percent, was arranged by Daiwa Capital Markets Europe and sold in a Private Placement format to a single Japanese institutional investor, Sony […]
…. Advocates Legal Framework, Stiffer Sanctions For Criminals (AFRICAN EXAMINER) – Nigerian National Petroleum Company Limited (NNPCL) has said that the impact of crude oil theft has been affecting its performance, stressing that it losses 470,000 bpd amounting to $700 million monthly coupling with security challenges that hindered oil production in some terminals. Speaking with […]
(AFRICAN EXAMINER) – A renowned and accomplished female entrepreneur, Ms. Sharifah Hardie has inaugurated a digital platform that is aimed at raising funds amounting to $1.5 billion for African American-owned businesses. Dubbed, “Support My Black Business (SupportMyBlackBusiness.org)”, it is a crowdfunding platform designed solely to assist local Black-owned businesses to generate funding and to help […]
(AFRICAN EXAMINER) – A renowned Information Technology (IT) guru, Ernest Manning has launched a new social media platform that celebrates Black and Brown culture, unity and love. Manning, a retired Air Force Master Sergeant is the founder and Chief Executive Officer (CEO) of WeKinFolk.com, an online space that celebrates Black business achievements while building social […]
(AFRICAN EXAMINER) – The Naira on Friday depreciated against the dollar at the Investors and Exporters window, exchanging at N431.50. The figure represented a decrease of 0.35 per cent, compared with N430 it exchanged for the dollar on Thursday. The open indicative rate closed at N429.10 to the dollar on Friday. An exchange rate of […]
(AFRICAN EXAMINER) – Ms. Tshepidi Moremong, the Chief Operating Officer of Africa50, a Pan-African infrastructure investment platform, has expressed optimism over the availability of a number of bankable projects in Africa. Ms. Moremong made the observation during a webinar organized recently by the African Development Bank (AfDB) and the Japan International Cooperation Agency (JICA). The […]
(AFRICAN EXAMINER) – The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said that the country would stop importing petroleum products by 2023. Kyari disclosed this during a press briefing at the state house in Abuja, on Tuesday. Kyari, who spoke during the weekly Ministerial Briefing, hosted by the […]
