Nigeria: Africa’s Rising Business Powerhouse Nigeria, often referred to as the “Giant of Africa,” is rapidly emerging as a significant business hub on the global stage.With a burgeoning population, abundant natural resources, and a dynamic economy, the country offers immense potential for businesses seeking to expand their operations into Africa. This article delves into ten compelling …
Abuja, Nigeria – October 25, 2024 – Nigeria has officially become a partner country of the BRICS group, joining a growing alliance of emerging economies. The announcement was made during the 16th BRICS summit held in Kazan, Russia, from October 22 to 24, 2024. The BRICS group, originally comprising Brazil, Russia, India, China, and South …
Abuja, Nigeria – The Nigerian government has officially launched its Naira-for-crude oil sale agreement with Dangote Refinery, marking a significant step towards stabilizing the economy and promoting local currency usage in the oil sector. The announcement was made by the Minister of Finance, Wale Edun, in a statement shared on the Ministry of Finance’s official X …
The World Bank has shown a keen interest in partnering with Nigeria to advance the development of its Marine and Blue Economy sector, with a particular emphasis on sustainable fisheries. During a recent courtesy visit to the Minister of Marine and Blue Economy, Adegboyega Oyetola, Ms. Lia Sieghart, the leader of the World Bank delegation, …
Lagos, Nigeria – October 2, 2024 – Nigeria has solidified its position as a financial powerhouse in Africa, ranking as the sixth-largest country in terms of foreign exchange and gold reserves. According to the esteemed Global Firepower, Nigeria currently holds approximately $37.75 billion in reserves, a testament to its robust economic management and strategic financial policies. …
Abuja, Nigeria – The Federal Government has expressed optimism about the transformative potential of the Nigeria Carbon Market Activation Policy (NCMAP), projecting it could unlock a carbon market worth between $736 million and $2.5 billion by 2030. This ambitious initiative is also expected to create between 600,000 and 2.3 million green jobs for Nigerian youth while …
New York City, NY – Dr. Bosun Tijani, Nigeria’s Minister of Communications, Innovation, and Digital Economy, is optimistic about the country’s future as a net exporter of tech talent. In a recent interview with Rest of World’s founder and publisher, Sophie Schmidt, Tijani highlighted the significant strides Nigeria has made in its tech ecosystem. A seasoned entrepreneur and co-founder of the Co-Creation Hub, Tijani brings …
Kano, Nigeria – In a groundbreaking move to foster innovation and economic growth in Northern Nigeria, the Arewa Tech Fest has unveiled the Arewa Tech Fund, a $50 million initiative aimed at empowering tech startups and entrepreneurs. Spearheaded by former Kaduna State Governor, Mallam Nasir El-Rufai, the fund promises to transform the region’s economic landscape. The Arewa Tech Fund …
Abuja, Nigeria – Tech and telecom experts have emphasized the critical role of enhanced connectivity in driving Nigeria’s e-governance initiatives. During the Nigeria eGovernment Summit 2024, themed “Transforming Governance with Technology for Improved Economy,” industry leaders discussed the challenges and opportunities for digital transformation in the country. Reuben Oshomah, Regional Director at Avanti Satellite, underscored the importance of connectivity as …
Abuja, Nigeria – Nigeria’s foreign reserves have reached a 22-month high, reflecting a surge in foreign inflows to the country’s economy. According to data from the Central Bank of Nigeria (CBN), the reserves stood at $37.31 billion as of September 18, 2024, the highest level since November 4, 2022. This significant increase marks a recovery in Nigeria’s foreign currency position, which has been …
