Ecomony articles

African Economic Conference (AEC2018): Moving the Africa Free Trade Area agreement ahead with quick win solutions

African Economic Conference (AEC2018): Moving the Africa Free Trade Area agreement ahead with quick win solutions

A total of 44 African nations signed the landmark African Continental Free Trade agreement earlier this year, with only 12 out of the required 22 countries ratifying the accord, but policy makers say there is time enough – and practical solutions – to move the process ahead. The African Continental Free Trade (AfCFTA) area aims

African countries urged to leverage on their strengths to accelerate drive towards integration

Participants to the 13th African Economic Conference called for African countries to leverage the full range of their strengths and resources to accelerate the region’s drive towards continental integration. Themed “Regional and Continental Integration for Africa’s Development” the 2018 AEC, jointly organized by the United Nations Development Programme, the United Nations Economic Commission for Africa,

FSD Africa and Securities and Exchange Commission collaborate to strengthen the capital market in Nigeria

The Securities and Exchange Commission, Nigeria (SEC Nigeria) has become the first capital market regulator to participate in a flagship pan-African programme designed to strengthen the continent’s capital markets. Over a three-year period, FSD Africa, a UK Aid funded non-profit company, will provide funding to build the capacity of capital market regulators across the continent,

TSA, IPPIS, BVN save Nigeria N20 billion monthly-NITDA boss

By Emmanuel Odihi The Director-General/CEO of the National Information Technology Development Agency, Dr. Isa Pantami has stated that Single Treasury Account (TSA), the Integrated Payroll and Personnel Information System (IPPIS) and the Bank Verification Number (BVN) has saved Nigeria N4 billion and that it saves Nigeria N20billion monthly. He stated this Yesterday May, 22, at

IMF says Nigerians getting poorer, calls for ‘urgent and coherent’ economic policies

The International Monetary Fund (IMF) says Nigerians are getting poorer and that “coherent and comprehensive” economic reforms are urgently needed in the country. The gross domestic product report released by the National Bureau of Statistics (NBS) on Tuesday showed that the economy recorded a growth of 0.83 percent in 2017. The Bretton Wood institution said

Rewane says Buhari scored an own goal, equalised ‘and then took credit for a draw’

Bismark Rewane, renowned Nigerian economist, says President Muhammadu Buhari has only repaired the damage he did to the economy. The Buhari administration has often listed Nigeria’s exit from its worst recession since 1987 as a key achievement. It also celebrated exchange rate stability — after allowing the naira to devalue from N197/$1 to N360/$1 following

REVEALED: Militants not solely responsible for oil production losses

Nigeria struggled to meet its 2017 oil production target of 2.3mbpd and missed revenue projections for the year’s budget but militant attacks are not solely responsible for the cuts, TheCable Petrobarometer can report. Production averaged 2.05mbpd at the end of December 2017 because of a combination of violent attacks by militants and technical challenges. According

38 investors ‘interested’ in building modular refineries in Niger Delta

The presidency says 38 licensed privately financed greenfield and mini-modular refineries investors have shown interest in the establishment of modular refineries in the Niger Delta. Laolu Akande, presidential spokesman, said the proposed investment will re-position the petroleum industry and ensure self-sufficiency of petroleum products. Akande said not less than ten of the 38 interested investors

REVEALED: Nigeria lost $1.45bn worth of crude oil in 2015

Nigeria lost 27.1 million barrels of crude oil produced in 2015 despite huge expenses on industry security, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. Added to the $25 million worth of crude that the Pipelines and Product Management Company (PPMC) reported as lost, the total comes to $1.45 billion for that year alone.