Nigerian govt ends undue dominance and monopoly in oil and gas logistics sector

 Integrated Logistics Services Nigeria Limited’s (Intels) dominance of the nation’s oil and gas logistics business at the ports has ended with President Muhammadu Buhari’s approval of a policy review, which guarantees the right of importers to choose terminals or ports of their choice for the discharge of their cargo. The president also approved the Onne […]

Egypt Attracts $3.1 Billion Foreign Investment Since Currency Flotation

 Egypt attracted $3.1 billion of foreign investment in domestic debt instruments since the flotation of the pound in November up until mid-March, Deputy Finance Minister Ahmed Kojak told Reuters on Sunday. Kojak said the funds were invested in treasury bills and bonds. The Central Bank said earlier this month that foreign investment in treasury bills […]

Nigeria’s Central Bank, Finance Ministry And Budget Office To Harmonise Policies For Economic Recovery

 For the first time since the Nigeria’s present administration assumed office, both the monetary and fiscal authorities met over the weekend to find a common ground on a number issues to move the economy forward. The Central Bank of Nigeria, CBN represented the monetary authorities, while the fiscal authorities included the Ministries of Finance, Budget […]

Nigeria, Egypt and South Africa Listed Among World’s Most Powerful Economies by 2050

 Price water house Coopers published rankings of 32 future power economies by 2050.  Nigeria, Egypt and South Africa were forecasted to be in 14th, 15th ,27th most powerful economies in the world respectively. Now the report, takes into account the various nations’ projected gross domestic product by purchasing power parity. The report, titled “The long […]

Egypt’s Agricultural Export Surges On The Back Of Currency Float

 Egypt’s agricultural export is expected to grow by about 15 per cent in 2017 in comparison to 2.2 billion US dollars recorded last year. This growth has been attributed to the states decision to float its currency in November. The move has led to a surge in demand as the fruit and vegetables are now […]

Uganda Negotiating $2.3 Billion Loan With China To Fund Rail Line

 Uganda is negotiating a $2.3 billion loan with China’s Exim Bank to fund an initial 273 km stretch of rail line the east African country is planning to build for faster and cheaper transportation, an official said on Thursday. Landlocked Uganda eventually wants to construct a 1,700 km standard gauge railway network to connect with […]