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Tag Archives: Nigeria

EU, Nigeria Collaborate to Improve Quality Of Banned Exports


The European Union (EU) has begun collaboration with Nigerian authorities to improve the quality of some exports from the country, which had been banned in Europe due to the products’ deficiency in meeting European specifications. The banned export items included beans and some fish products. The Head of Cooperation, EU …

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IMF declares Nigeria as Africa’s biggest Economy


Nigeria has been affirmed by the International Monetary Fund (IMF) as the biggest economy in Africa — ahead of South Africa and Egypt. In August 2016, Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa, following the recalculation of the country’s gross domestic product …

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CLIMATE CHANGE: Nigeria may lose N69t — FAO

Nigeria may lose the sum of N69 trillion to climate change leading to a reduction in the National GDP by 11percent in 2020 and 30 percent by 2050, the Food and Agricultural Organisation (FAO) has revealed. The Minister of State Agriculture and Rural Development, Senator Heineken Lokpobiri ,who stated this …

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Shell names Peter Costello as new VP for Nigeria


Shell has appointed a new Vice President for Nigeria and Gabon. He is Peter Costello and succeeds Markus Droll who assumes a new role of Executive Vice President, Projects in Shell International based in Rijswijk, The Netherlands. Mr. Costello, an engineer by background has spent over three decades in the …

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Nigeria falls to 127th Place on WEF’s global competitiveness index


Nigeria has dropped three places to the 127th position on the latest World Economic Forum’s (WEF) Global Competitiveness Index (GCI) for 2016-2017, out of 138 countries surveyed. The country was previously ranked 124th on the index. At 127th position, Nigeria only performed better than Madagascar, Yemen, Venezuela, Congo DR, Liberia, …

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Lagos, others top list of most indebted states in Nigeria


Lagos, Kaduna and Edo State are among other states listed most indebted states of the federation with a combined profile of $1.84bn. According to statistics from the Debt Management Office in Abuja on Wednesday, the 36 states of the federation and the Federal Capital Territory owe $3.65bn in foreign debts …

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AfDB set to lend Nigeria $4.1b for agriculture and power

Akinwunmi Adesina

The African Development Bank,(AfDB) is looking to provide a total of $4.1 billion to Nigeria over 2016 and 2017, its president said on Monday, as Africa’s biggest economy seeks to bridge its budget deficit and improve weak infrastructure. The loan would be concessional with an interest rate of 1.2 percent. …

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