Oil prices jumped on Thursday after United States President Donald Trump said he expected Saudi Arabia and Russia would agree to capping oil production, providing much reprieve to countries like Nigeria worst hit by the scramble for bigger market share among producers. Brent, the internationally traded benchmark crude, traded at $33.44, up $8.70 a barrel…
There are four critical steps that Nigerian companies could take to ensure business continuity while the government must prioritise five things amid the ongoing coronavirus-induced economic meltdown, according to global consulting firm, Mckinsey & Company. Mckinsey’s recommendations, published this week, are based on the firm’s discussions with risk and health professionals in more than 200…
The role of infrastructure in economic development cannot be overemphasised. Therefore, many African countries still lag behind in terms of development because of inadequate infrastructure. Impact investors have played key roles in revamping infrastructure. The need and opportunity for private investment in Sub-saharan Africa (SSA) infrastructure are great. But significant barriers to scaling up such…
The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing annual tax returns for employees and self- employed persons by two months from 31 March 2020. Consequently, the new filing deadline for the returns will now be 31 May 2020. Wole Obayomi, tax partner at KPMG, described the extension of filing deadline…
After several days of silence amid a coronavirus outbreak and full-blown oil price war, Nigeria’s fiscal and monetary authorities will announce measures in coming days to deal with the economic fallout that has sent oil prices tumbling. “We will not hesitate to deploy additional measures to shield the Nigerian economy from headwinds,” Central Bank Governor…
Two new developments have taken place since the last briefing in Abuja on the coronavirus situation in Nigeria. The first is that a team of researchers from various institutions in Nigeria, including scientists from the Centre for Human and Zoology Virology in LUTH, African Centre for Genomics of Infectious Diseases in Redeemers University and the…
The number of confirmed coronavirus cases in the UK has now reached 460, after the biggest rise in a single day. It comes as two more people with the virus died in the UK, bringing the total to eight. One was in their 70s and had underlying health conditions in Dudley, while the other, in…
The United Kingdom (UK) Aid via its Department for International Development (DFID) will kick-off a £170m new education programme Partnership for Learning for All in Nigeria this year. These are all part of the process to ensuring Nigeria’s achieves the SDG 4 – inclusive and quality education for all its citizens. DFID Representative, Simmons Field,…
Nigerian Investment Promotion Commission (NIPC) and its partner, the UK Department for International Development (DFID) have published a Nigeria-Investment-Guide-Jan-2020. The Guide was launched at the UK Africa Investment Summit held earlier in January in the UK. It contains useful information on Nigeria as a compelling destination for any investor seeking to participate in the economic…
It’s a pleasure to join you at this special side event organized as part of the UK-Africa Investment Summit. Let me congratulate the organizers, the Department for International Development (DFID) and Her Majesty’s Trade Commissioner for Africa for hosting us today. The DFID is a key strategic partner of the African Development Bank. Since joining…
