Net Foreign Exchange Inflows Rise to $27.6 Billion in H1’24
Net foreign exchange inflows to Nigeria's economy surged by 67.8 percent to $27.6 billion in the first half of 2024 (H1'24), compared to $16.44 billion in the corresponding period of 2023. This growth was driven by a 34.6 percent year-on-year (YoY) increase in net forex inflow through autonomous sources and a substantial 170 percent YoY increase in net forex...
Maritime Tourism Stakeholders Warn of Rising Boat Accidents
Maritime tourism stakeholders have raised concerns about the increasing number of boat accidents in Nigeria's waterways, warning that it could damage the country's reputation and deter visitors from engaging in water-based activities. During a meeting of boat operators and stakeholders organized by the Federation of Tourism Associations of Nigeria (FTAN) in Lagos, stakeholders lamented the lack of adequate infrastructure, such...
Datapro to Host Webinar on Credit Rating and Economic Uncertainties
Technology-driven credit rating agency, datapro, is set to host the 2024 edition of its International Rating Webinar on Today. The virtual event, themed "Navigating Economic Uncertainties: The Role of Credit Rating Agencies," will take place between 2 pm and 4 pm and will be streamed live on LinkedIn and YouTube. A major highlight of the event will be a goodwill...
LCCI Offers Free Entry to 2024 Lagos International Trade Fair
The Lagos Chamber of Commerce and Industry (LCCI) has announced that entry to the 2024 Lagos International Trade Fair (LITF) will be free for all visitors. The 10-day event is scheduled to take place from November 1-10 at the Tafawa Balewa Square (TBS) in Lagos. Meanwhile, United Bank for Africa (UBA) Plc has once again announced its sponsorship of the...
NIGERIA TAKES CENTER STAGE: SILVERBIRD PRESENTS MR WORLD NIGERIA 2024
In a bid to showcase Nigerian talent and culture on the global stage, Silverbird, a renowned events organizer, has announced the launch of Mr World Nigeria 2024. This prestigious pageant aims to uncover the ultimate embodiment of male excellence in Nigeria, embodying integrity, leadership, and social responsibility. The competition promises to be an exciting display of intelligence, talent, and charisma. According...
South Korean Investors to Build Four Refineries in Nigeria
A consortium of investors from South Korea has announced plans to build four 100,000-barrel capacity refineries in various locations across Nigeria. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, made this announcement at the maiden edition of a summit organized by the Crude Oil Refineries Owners Association of Nigeria in Lagos. He stated that the Federal Government is...
NDDC Enrolls 3.2 Million Youths in Project HOPE
The Niger Delta Development Commission (NDDC) has announced the registration of 3.2 million youths for Project HOPE since its first phase was launched on July 4, 2023. The Managing Director of NDDC, Dr Samuel Ogbuku, made this disclosure during the launch of the second phase of Project HOPE at the Rivers State Information and Communication Technology Centre. Ogbuku stated that...
Namibia Offers to Partner with Nigeria on Elephant Conservation
The High Commissioner of the Republic of Namibia to Nigeria, Ambassador Humphrey Gieseb, has expressed his country's interest in partnering with Nigeria to grow the country's elephant population. During a virtual panel discussion on harnessing the potentials of tourism for peacebuilding, conflict resolution, and economic development in the Niger Delta, Ambassador Gieseb shared Namibia's experience in successfully increasing its elephant...
Honda Launches New Motorcycle, ACE 150, for Rural Use
apanese automotive giant Honda has launched a new motorcycle, the ACE 150, specifically designed for rugged rural use, particularly for farmers. The motorcycle was unveiled at the Honda factory on Idiroko Road, Ota, Ogun State, before wholesalers and the public. Honda Senior Manager of Sales, Olabade Badejo, described the ACE 150 as a "kind of motorcyclist," emphasizing that it was not...
Foreign Capital Inflows Surge 152.8% in Q2’24
Foreign capital importation into Nigeria surged by a significant 152.8 percent year-on-year (YoY) to $2.6 billion in the second quarter of 2024 (Q2'24), according to the National Bureau of Statistics (NBS). This represents a substantial increase from the $1.03 billion recorded in the same period of 2023 (Q2'23). However, on a quarter-on-quarter (QoQ) basis, capital importation fell by 22.85 percent...
