As Nigeria Grapples With Economic Recession, Kaduna State Sets N3.5 Billion Monthly Revenue Target

Mallam-Nasir-el-Rufai

 The Kaduna State Government is targeting N3.5 billion monthly Internally Generated Revenue, the state Commissioner for Budget and Planning, Muhammad Abdullahi, has said. Abdullahi said that the state generated N1.6 billion in July, which doubled the N700 million and N800 million generated in November and December in 2015. He said, “We think Kaduna State can […]

Mauritius May Be The Ideal Gateway To Africa For Investors

Mauritius

  Mauritius is only 65km long, 45km wide and 2,000 km away from Africa. Yet there are strong indicators that this small island in the Indian Ocean may be the ideal gateway to Africa. In a period of great economic uncertainty right across the world and the collapse of commodity and extractives prices, investors need […]

What Africa Can Learn From Sheffield’s Investment Deal With China

Buhari China

 The British press has been devoting acres of coverage to a £1bn foreign direct investment deal into Sheffield, a former mining town in northern England. Branded as an extension of the “golden era” of relations between Britain and China, the contract between Sheffield and Sichuan Guodong Construction Group has been heralded as a remarkable investment. […]

South Africa Is Africa’s Largest Economy (again). But What Does It Mean?

SA Reserve Bank

 South Africa has toppled Nigeria and reclaimed its status as the largest economy in Africa. This comes two years after Nigeria rebased its GDP calculation and advanced to the top spot. South Africa was also temporarily relegated to the third position early this year after Egypt climbed to claim the second spot. The Conversation Africa’s […]

Nasir El-Rufai: Repositioning the Nigerian Economy for Greatness

Mallam-Nasir-el-Rufai

 State of the Economy That we live in challenging times is an understatement. In the year 2015, the global political economy showed both stresses and promises for our nation. In Eurozone and the USA, economic growth slowed and imports of our crude oil reduced drastically, no thanks to innovations in fracking technology. China’s decades of […]

China To Invest 11 Billion Rand In South Africa’s Automobile Industry

A worker works at a plant of Hyundai Motor in Asan

  A Chinese state-owned car manufacturing company will invest 11 billion rand ($819 million) in a new plant in South Africa, giving a further boost to one of the fastest-growing industries in the continent’s largest economy. Beijing Automotive International Corp. signed the deal with the Coega Development Corporation, the operator of an industrial development zone […]

Libya Seeks To Restart Oil Exportation And Revive Its Ailing Economy

Libya Oil

 s Libya seeks to restart oil exportation and revive its ailing economy, the country’s national oil corporation chief Mustafa Sanalla says the government needs to spend in order to boost the much needed oil revenue. Libya’s Government of National Unity has an ambitious plan to increase oil output by five-fold by the end of this […]

Tough Times Ahead – President Buhari Admits Nigeria Is Broke

President Buhari

  Nigeria’s president Muhammadu Buhari has admitted to UN officials that his country is broke and facing a tough economic situation. He was speaking on Friday during a visit to Abuja by the United Nations Population Fund Executive Director and Under-Secretary General of the United Nations Prof. Babatunde Osotimehin. Buhari says Nigerians are suffering because […]