Ghana has announced a sweeping reform of its gold trading system, ordering all foreign players out of the artisanal and small-scale gold market by the end of April. The move is part of a broader effort to curb smuggling, boost government revenues, and stabilize the country’s economy. The directive was issued by GoldBod, a newly…
Nigeria has taken a significant step toward becoming a key player in the global halal market with the signing of a cooperation agreement with Saudi Arabia’s Halal Products Development Company (HPDC). The partnership aims to position Nigeria as a leading hub in the $7.7 trillion halal economy, fostering investment, technical collaboration, and market access across…
On Saturday, the Presidential Compressed Natural Gas Initiative (P-CNGi) launched a key phase of its plan to reduce fuel costs by distributing and installing compressed natural gas (CNG) kits to commercial motorists in Ogun State. This initiative aims to convert petrol-powered vehicles to run on the more affordable and environmentally-friendly CNG. At the launch event…
Foreign Direct Investment (FDI) is a crucial driver for economic growth and development, providing countries with much-needed capital to diversify their economies, create jobs, and boost infrastructure development. According to the latest World Investment Report 2024 by the United Nations Conference on Trade and Development (UNCTAD), African nations are seeing significant inflows of FDI, reflecting…
Abuja, 7th September 2024 – The Nigerian National Petroleum Company Limited (NNPC Ltd) has issued a statement refuting claims by the Muslim Rights Concern (MURIC) that the company is obstructing Dangote Refinery Limited (DRL) from offering lower pump prices for Premium Motor Spirit (PMS) in the Nigerian market. According to NNPC Ltd, these assertions are…
Abdul Samad Rabiu, Chairman of BUA Cement, has revealed that the company’s initial plan to reduce cement prices to ₦3,500 per bag was undermined by greedy middlemen and a lack of cooperation from other industry players. Speaking during BUA Cement’s 8th Annual General Meeting (AGM) on Thursday, Rabiu explained that the company’s price reduction strategy,…
As Nigeria’s economic challenges deepen, many citizens are preparing for difficult months ahead, with plans to rely heavily on borrowing and depleting their savings to meet financial obligations. This trend is highlighted in the Central Bank of Nigeria’s (CBN) July 2024 Household Expectations Survey, which reveals a growing sense of pessimism among Nigerian consumers about…