The African Development Bank (AfDB) has issued a $100 million 7-year “Feed Africa” Theme Bond due September 2029 in a bid to ramp up food production in the continent. The new issuance was arranged by Citigroup Global Markets Limited and sold in a Private Placement format to a single Japanese investor, Norinchukin Bank, a strong supporter of the Agricultural, Fishery and Forestry industries, the bank said in a statement. Through this investment in the African Development Bank’s “Feed Africa” theme bond, the investor aims to support the Bank’s initiatives and contribute to the increase in food production in Africa. The…
Author: Elvis Eromosele
Nasarawa State Emergency Management Agency (NASEMA), says no fewer than 361,000 persons have been displaced by flood following recent heavy rains in the state. Mr Zachary Allumaga, the Executive Secretary, NASEMA, told newsmen in Lafia, last week, that the flood affected about 23 communities in seven local government areas of the state. He said that there is a high probability that more than one million people could be displaced by flood in the state before the end of the rainy season. He said the agency had dispatched a search and rescue team and its officials to the affected areas and…
ThriveAgric, a fast growing technology-driven agricultural company, has unveiled an innovative initiatives tagged the ThriveAgric Marketplace, under its new strategy of ‘Farmer Obsession’. Through ‘Farmer Obsession’ the firm seeks to champion total wellbeing for smallholder farmers, with the end goal of promoting commercial over subsistence farming, and in turn, food security. The ThriveAgric Marketplace is aimed at increasing local food production, boosting aggregation of farm produce in high demand, and enabling access to premium markets through trade and supply to domestic & global offtakers. Beyond the company’s outgrower programme, its marketplace also offers farmers access to quality and affordable farming…
“Mere Anyi Ebere”, an outcry for God’s unfailing mercy has been released by Sister Elizabeth Ndubisi Eromosele. The song is based on the Bible passage that it’s by God’s mercy that we are not consumed, his compassion never fails. The steadfast love of the Lord never ceases. Indeed, his mercies never end. They are new every morning. It encourages us to approach God’s throne of grace with confidence, so that we may receive mercy and find grace to help us in our time of need. This is a time of need. According to Sister Elizabeth, “this song was born in…
The Debt Management Office (DMO) said Nigeria’s total public debt stock, which was N41.60 trillion ($100.07 billion) in March, rose to N42.84 trillion (103.31 billion dollars) by June. According to a statement on its website, the total debt represents the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 State Governments and the Federal Capital Territory (FCT). It said that while the foreign component of the debt remained at the same level of N16.61 trillion (39.96 billion dollars), the local component increased to N26.23 trillion (63.24 billion dollars). The News Agency of Nigeria (NAN) reports that…
The price of cooking gas and kerosine, over the last year rose by 101 per cent and 102.38 per cent respectively. This was revealed in the Cooking Gas Price and Household Kerosene Price Watch released by the National Bureau of Statistics (NBS) this week. The report indicated that the average price of five kilograms of cooking gas increased from N4,397.68 in July to N4,456.56 in August. This, according to the statistics agency, shows that the price in August experienced a 1.34 per cent increase on a month-on-month basis. it stated further that “On a year-on-year basis, the August 2022 price…
The Nigeria Communication Commission (NCC) has said that the Federal Government will generate over N500bn in the 2023 fiscal year through the 5G spectrum. The Executive Vice Chairman of the NCC, Prof.Umar Danbatta, made this known on Monday at an interactive meeting on 2023-2025 MTEF-FSP, organised by the Senate Committee on Finance. Danbatta said the projected revenue would be realised from the auctioning of two 5G spectrums and the bidding process for auctioning of the spectrums in 2023. He also disclosed that NCC had generated N257 billion in the first quarter of 2022, while N195bn was remitted to government coffers.…
The Nigerian Communications Commission (NCC) has deployed 84 assistive Information Technology projects at different locations in Nigeria to support people with special needs while supporting policies that enable disadvantaged members of the society to live a more qualitative life. “The E-Accessibility project seeks to meet the ICT needs of persons living with disabilities in Nigeria by providing ICT tools, assistive technologies, training, and Internet provision in the identified locations. Between 2012 to 2020, the NCC has deployed the E-Accessibility Projects in, at least, 84 locations nationwide.” The Executive Vice Chairman (EVC) of the Commission, Prof. Umar Danbatta, disclosed this during…
The Memorandum of Understanding for the start of the 5,600 km Nigeria-Morocco gas pipeline’s construction was signed last week Thursday by the Nigerian National Petroleum Company Limited and the Office National des Hydrocarbures et des Mines of Morocco. Following the signing of the Memorandum of Understanding (MoU) between the two countries and the Economic Community of West African States in Rabat, Morocco, according to NNPC, the much-anticipated Nigeria-Morocco Gas Pipeline project officially got underway. According to the statement, the two nations and ECOWAS carried out the MoU agreement on the project, which was an important step in achieving the Federal…
The Nigerian National Petroleum Company, NNPC Limited, has announced that the unrelenting crude oil theft and dwindling production caused by insecurity is costing Nigeria about $700 million every month as no less than 470,000 barrels of oil are illegally siphoned off vandalised pipelines every four weeks. The NNPC’s Group General Manager in charge of National Petroleum Investment Management Services, NAPIMS, Bala Wunti, speaking with some journalists during a tour of the facilities of the NNPC, revealed that the oil pipelines around the Bonny terminal cannot be operated due to the activities of criminals. He noted that for this reason, about…