January 2020

31 January 2020
Bloomberg
Thwarting smugglers leave Nigerians counting costs of stony rice
In Adeola Adejare’s market store in Lagos, two teenage boys separate stones from Nigerian rice, preparing it for sale after the government closed land borders and stemmed the flow of cheap, smuggled grains…

29 January 2020
Financial Times
Nigeria makes anti-corruption moves amid criticism over progress
Nigeria is publicly ramping up its efforts to prosecute graft, after what critics charge has been a lacklustre effort by President Muhammadu Buhari’s administration to deliver on its signature campaign promise of fighting corruption…

Guardian Nigeria
Exorcising the demon that is Lagos traffic
The Lagos State Government Monday announced drastic measures in the bid to ease the chaotic gridlock that characterises West Africa’s most populous city. Those measures included the outright ban on the operations of commercial motorcycles and tricycles in six local governments in Lagos city…

Premium Times
How Lagos can solve its traffic problem – Survey
An upgrade of the infrastructure in the water transport sector to encourage commuters to patronise boats and ferries would help end the perennial traffic congestion in Lagos, a new survey has said…

Ventures Africa
Nigeria’s central bank restates commitment to supporting the naira
Nigeria’s central bank governor, Godwin Emefiele, has weighed in on the ongoing debate regarding a likely devaluation of the naira, saying such adjustment to the local currency will not be happening anytime soon…

28 January 2020
Nairametrics
CBN Governor, Godwin Emefiele, reacts to devaluation of naira call
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has reacted to analysts’ projections concerning the devaluation of naira. According to Emefiele’s recent stance, naira devaluation will not be happening anytime soon…

27 January 2020
The Cable
Survey: Lagos loses ₦1,922 daily on every person moving from Ikorodu to Ikeja
The economy of Lagos, Nigeria’s most populated state, is estimated to lose ₦1,922 daily on every person that moves between Ikeja and Ikorodu daily. This is according to a survey carried out by SBM Intelligence…

24 January 2020
Bonds & Loans
Lekoil loan scam could harm attempts to fill gaps left by oil majors
Last week, Lekoil announced that a loan it claimed to have secured from the QIA for the purchase of an offshore oilfield was in fact a “complex façade” perpetrated by individuals claiming to the represent the sovereign investment fund, prompting its share price to plunge and leading the company to request trading be suspended…

22 January 2020
Nairametrics
Experts outline what SMEs must do to attract fund, investors in 2020
One of the challenges Small and Medium Enterprises (SMEs) have continued to face is access to funding. This has been a major concern for many budding entrepreneurs, and in order to bridge the gap between funding and SMEs, business experts at the Nairametrics 2020 Economic Outlook discussed factors discouraging investors and what SMEs need to do to attract funding and investors…

21 January 2020
Nairametrics
Devaluation: Experts highlight trends clouding economy’s growth in 2020
The Central Bank of Nigeria (CBN) may eventually devalue the naira in 2020, as experts highlighted several disturbing trends clouding growth prospects in the Nigerian economy…

18 January 2020
Nairametrics
Nigeria no longer leading oil producer
Economic and financial experts at the on-going 2020 Nairametrics Economic Outlook (#Nairametrics2020EO) have said that Nigeria needs to step up its game to revive the economy, as it has lost its space among the world Top 10 oil producers…

14 January 2020
BusinessDay
West African ‘Eco’ could add more woes to Nigeria’s troubled economy
There are several economic implications that a likely move by Nigeria to adopt a shared currency with other West African countries would have on its economy, and policymakers must take note…

13 January 2020
Financial Times
Nigeria ratifies finance law in boost for small business
Nigerian president Muhammadu Buhari has signed into law a new finance bill that seeks to increase government revenue while bolstering the struggling small business sector in Africa’s largest economy…

11 January 2020
Global Voices
Why is Donald Trump so popular in Nigeria?
United States President Donald Trump has received low ratings across the world for his handling of international affairs — but not in some African countries like Nigeria…

8 January 2020
Guardian Nigeria
Renewed pirates attacks raise fresh concerns on cost of shipping
There are concerns that the cost of doing business in Nigeria and other nations in the Gulf of Guinea might shot up, going by the renewed threat of maritime piracy. A maritime security firm Dryad Global, said the pirate-infested waters of the Gulf of Guinea are now the world’s most dangerous for international shipping, with at least nine vessels attacked and 89 crew hijacked for ransom so far in 2019…

5 January 2020
Bloomberg
Nigeria faces challenges of politicking, mounting debt in 2020
Nigerian President Muhammadu Buhari is due to complete his second and final four-year term in 2023 and the battle over who will succeed him is already heating up, placing further pressure on an already strained economy…

The Nation
Counting gains of border closure
In the past the federal government had closed the land borders, especially around Cotonou a few times. But no one took the government seriously when it closed the land borders across the country last August. When the move was conceived and subsequently perfected, the last thing on people’s mind was that it would be opened in a matter of days…