Business Top Stories

IMF: Central banks should prepare markets for higher interest rates

Global central banks need to make clear to financial markets the probable need for interest rates to remain higher for longer in order to bring inflation sustainably back down to target and avoid a rebound in price pressures, the International Monetary Fund (IMF) said yesterday. “Central banks should communicate the likely need to keep interest […]

Business

Nigeria loses N350bn to foreign yards as floating dock lies dormant

As global shipyard market is predicted to contribute $50.3billion to economies in 2023, plans by Federal Government to earn N350billion ($500million) this year may not be realistic as modular floating dock acquired in June 2018 by Nigerian Maritime Administration and Safety Agency (NIMASA) has not commenced operation despite demand by ship owners. Currently, Nigeria has […]

Business

LCCI tasks govts on early preparations against flooding

With extreme weather condition and ferocity of rainfalls expected, starting from this month, the Lagos Chamber of Commerce and Industry (LCCI) has called on the federal and state governments to commence preventive measures against flooding in 2023. The Director-General of LCCI, Dr. Chinyere Almona, made this known in an interview with New Telegraph, that current […]

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Customs dislodges council, commences pilot tracking of cargoes

The Nigeria Customs Service (NCS), Tin Can Island Command, has commenced the pilot phase of tracking movement of containers and cargoes to bonded terminals or bonded warehouses meant to be implanted by Nigerian Shippers Council(NSC). Prior to this, the council had been mandated by the Federal Government to implement Cargo Tracking Notes (CTN) at the […]

Business

Food Security: Lake Chad Research Institute begins millet revolution

In a bid to fast track action plan towards achieving food security in the country, the Lake Chad Research Institute (LCRI) said it had initiated a special millet production projects. It stated that several high yields millet varieties were recently released by the Institute to meet both farmers and other value chains stakeholders demands. The […]

Business

NGX, MTN to further enhance financial inclusion in Nigeria

Nigerian Exchange Limited (NGX) and MTN Nigeria Communications Plc have both reiterated their commitment to closing the financial literacy gap in Nigeria. This comes on the back of a Memorandum of Understanding signed between both companies in 2022 that has led to the birth of several initiatives contributing to closing the financial inclusion gap in […]

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