In an effort to alleviate the impact of coronavirus pandemic on businesses, houses holds and regulated institutions, The Central Bank of Nigeria has said it is giving a one-year moratorium on all principal repayments for COVID-19 intervention loans through its participating Other Financial Institutions with effect from March 1, 2020. The apex bank said this […]
In advancement of the Federal Government’s economic diversification policy, the Standard Organisation of Nigeria, SON, and the Technical Committee on Fruits and Vegetable Products are now working on an implementation of the draft codes of practices for the tomato value chain from planting, harvesting, processing and transportation to Storage. Director-General, SON, Osita Aboloma, stated in […]
The Interest rates on loans to the Small and Medium Enterprises to cushion the effects of the coronavirus on their operations introduced by the Central Bank of Nigeria will rise to nine per cent from five per cent in March 2021. The CBN disclosed this in its guidelines for the implementation of the N50bn Targeted […]
To lighten the effect of COVID-19, financial experts have advised the Federal Government to go beyond the 3.83 per cent aggregate stimulus response for Nigeria economy. They urged authorities to increase support for the Small and Medium Enterprises (SMEs) that constitute over 70 per cent of the economy to keep them afloat. The experts made […]
During the first quarter of 2020, Nigeria’s Gross Domestic Product (GDP) grew by 1.87%(year-on-year) in real terms. This performance was recorded against the backdrop of significant global disruptions resulting from the COVID-19 public health crisis, a sharp fall in oil prices and restricted international trade. The performance recorded in Q1 2020 represents a drop of […]
The National Agency for Food and Drug Administration and Control, NAFDAC, the weekend rolled out palliatives for the Micro and Small businesses including 80 percent tariff reduction for registration as part of compliance with the Executive Order on the Ease of Doing Business as well as a proactive response to the challenges of COVID-19 pandemic. […]
Outcries have risen from farmers in the poultry and fishery industries as they lament over the continued closure of hotels, drinking joints and other entertainment spots where their products are sold. They say the situation has taken a toll on their business. They are calling on the Federal Government to revive the Growth Enhancement Support […]
A promising Nigerian startup Helium Health sits in a good position during a difficult period, according to its co-founder. The Lagos based healthtech venture is in the black, has batted away acquisition offers, and just raised a $10 million Series A round, CEO Adegoke Olubusi told TechCrunch. The startup offers a product suite that digitizes […]
Disgruntled contractors owed over N17bn by the Federal Ministry of Agriculture and Rural Development are mobilising to stop the FMARD’s minister from gaining entry into his office again on Friday (today). About 50 members of the Concerned Unpaid 2018 Contractors of the FMARD had picketed the ministry’s headquarters in Abuja on Wednesday, blocking the major […]
Industry operators said on Wednesday, that the Nigerian National Petroleum Corporation (NNPC) took the latest decision of marking down the ex-depot price of petrol in a bid to keep it competitive after the state-owned firm lost the monopoly of fuel importation and private oil firms were handed licences to begin to bring in imports. The […]
