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Nigeria in 1min: Economic, Business and Financial Headlines - 010822

Aug 01, 2022   •   by   •   Source: Proshare   •   eye-icon 368 views


From Brain Drain to Brain Gain: Focusing on the Second-Best Alternative - The wave of emigration by Nigerian workers in recent time has raised a renewed interest in the brain drain phenomenon. The current spike in human capital export has been attributed to low returns to education in Nigeria, poor economic condition and worsening security situation in the country. Source FDC Ltd Read More

Siemens Power Project: Nigeria to Take Delivery of Mega Transformers September, Says Minister - The federal government says the first batch of mega transformers under the presidential power initiative (PPI) will arrive by September. Source TheCable Read More

Nigerians Must Avoid FX Speculators to Save Naira, Says CBN - The Central Bank of Nigeria (CBN) says Nigerians must avoid dealing with speculators in the foreign exchange (FX) market to save the naira from further decline. Source TheCable Read More



What to Expect from the Markets this Week - 010822 - The Federation Account Allocation Committee (FAAC) distributed a total of N802.41bn to the three arms of government for the month of June. Of this amount, the Federal Government received N321.86 bn. Source Proshare Content Read More

Waste to Wealth: Opportunities for Revenue Diversification Along the Tomato Value Chain - Nigeria is the second largest producer of tomatoes in Africa and the fourteenth largest producer in the world with a total production of 3.69 million tonnes in 2020.⁶ Tomato production in Nigeria has seen tremendous increase from 0.176 million tonnes in 1961 to an all-time high of 4.08 million tonnes in 2014 before slowing to 3.69 million tonnes in 2020. Source FDC Ltd Read More

Emirates Writes Aviation Minister Over Inability to Repatriate Funds, Plans Reduction in Operations to Nigeria - As of July 2022, Emirates has USS 85 million of funds awaiting repatriation from Nigeria. This figure has been rising by more than SUS 10 million every month, as the ongoing operational costs of our 11 weekly flights to Lagos and 5 to Abuja continue to accumulate. Source Emirates Read More


FG May Halt Free Four Million Meters’ Distribution - The Federal Government-funded Phase 1 of the National Mass Metering Programme, NMMP, slated to commence in August appears to have been mired in uncertainty, as The PUNCH learnt that it had been put on hold following allegations of fraud by the Central Bank of Nigeria against some of the Meter Asset Providers, MAPs. Source Punch Read More

DisCos Decry Takeover Of 5 Firms, Despite Federal Govt’s Failed N100bn Subsidy, Other Promises - Electricity distribution companies (DisCos) under the aegis of Association of Nigerian Electricity Distributors (ANED) has kicked against the recent “restructuring” of the five DisCos despite the federal government’s failure to release the promised N100 billion subsidy. Source LeadershipNG Read More

More Foreign Airlines May Cut Flights Over $600m Blocked Funds - Many foreign airlines are considering further drastic steps to mitigate the effects of blocked funds in Nigeria, findings by Daily Trust showed at the weekend. Source Daily Trust Read More



Regulation & Innovation: NITDA DG Highlights Startup Bill as the Game Changer at GAT Summit 2022 - The DG who expressed the belief that the GAT Summit is coming at a time when players in the tech ecosystem are struggling with the realities of the present regulatory framework and contemplating their alternatives, noted that NITDA’s participation underscores the importance the agency attaches to the prevailing regulatory structure and future possibilities. Source TechEconomy Read More



Why Nigeria Needs to Deepen Its Capacity in Halal Standardization and Certification - Nigeria must develop its capacity in the "Standardization and Certification" to benefit immensely from the Global Halal market. Mr. Jude Chime, Executive Director of Trade, Abuja Chamber of Commerce and Industry, ACCI, made this point while providing further insight on "Halal Industry as a Driver of Inclusive Economic Growth in Nigeria." Source Bukola Akinyele-Yisau Read More



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