The two giants have faced a decade of woe but one has a better chance of turning a corner Nigeria and South Africa think of themselves as the giants of Africa. As the two largest economies south of the Sahara with nearly 300mn people between them, relative giants they are. But both have spent at …
Several experts who spoke at the BusinessDay CEO Forum said the recent efforts to stimulate investment in Nigeria need to be sustained, calling for more reforms in other sectors of the economy. Yewande Sadiku, head of international investment banking at Standard Bank Group, said Nigeria used to be termed uninvestable by foreign investors, but now …
Leaders from the private and public sectors who converged on Lagos Thursday to chart a course to growth and development in Nigeria have outlined measures that must be taken for the country to become an economic giant. The 14th edition of the BusinessDay CEO Forum brought together decision-makers in the country’s private and public sectors …
The pressure on the foreign exchange (FX) continued on Thursday as one dollar sells at an average rate of N811 at the parallel segment of the market. This was 0.55 percent lost to the value of naira when compared to N806.50 per dollar quoted on Wednesday at the black market. One of the traders who …
In the wake of fuel subsidy removal, private car owners in Africa’s largest economy are increasingly turning their vehicles to car business services as a means to offset rising fuel costs. Akinolu Akinola, an IT officer who works at Ikeja and lives at Egbeda now charges his neighbors for transporting them to work to and …
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Over the years, successive governments in Nigeria have embarked on several infrastructure projects seen as critical in driving economic growth. However, much still remains to be done. In the eight years of Muhammadu Buhari, for instance, available record shows that about N27.82 trillion was budgeted for infrastructure, which represents a small fraction of the $2.3 …
Sanusi Lamido Sanusi, former governor of the Central Bank of Nigeria, has affirmed that the ruling of the Bankers’ Committee regarding the contentious issue between Ecobank Nigeria Limited and Honeywell Group over an alleged N5 billion debt still stands. Sanusi said the Bankers’ Committee, acting as a consensus-based body, has the authority to make binding …
The commercial real estate, particularly office space, market has once again relapsed into slow motion after a brief interlude of rebound from the crippling impact of COVID-19 pandemic. This segment of the real estate market is passing through a difficult time as many office buildings are now recording increases in vacancy rates as organisations adjust …
More Nigerian banks are creating mobile applications (apps) or internet banking where customers can convert their dollars and other foreign currencies to naira, a development that unsettles black market trading. “This makes a lot of sense, especially for remote workers that are struggling to exchange their foreign earnings. With this, there is no need to …