A QUICK THOUGHT

Life is about giving and being, not getting and having..

Let’s jump in:

CBN naira float in 2016 failed. What’s different in 2023? / 6 mins read

A deep dive that draws the comparison of what failed in 2016. Then, the Central Bank of Nigeria announced a Naira float in hopes of reviving the struggling currency, but the experiment failed miserably.
This is take two: 2023, the CBN is taking a different approach with a more committed float. This time, the policy includes a free market for the petroleum industry and an agreement to buy dollars at the market rate.
Now we just have to

---

The downfall of Nigeria’s ‘all powerful’ central bank governor / 7 mins read

A spot on analysis of Godwin “Emperor” Emefiele suspension and arrest.
He had presided over a period of economic downturn and increasing national debt.
What will the interim Folashodun Shonubi do differently — there are already a few hints.

---

Nigeria is yet again Africa’s top oil-producing country recording an economic growth of 2.4% / 2 mins read

And here we are, Nigeria is once again Africa’s top crude oil producer, having produced 1.4 million barrels per day in May 2023.
It’s an economic boost for the country, as an OPEC report showed it had grown by 2.4% year-over-year in the first quarter of 2023. The government is also investing heavily in renewable energy sources and alternative sources of energy, which is expected to further spur economic growth.

As you know, I’m bullish on renewable energy, it might be Africa’s ticket to dominating the world.

---

Nigerian Auto Manufacturer Unveils CNG Vehicles / 2 mins read

While we’re on the subject of green energy, Innoson Vehicle Manufacturing has unveiled CNG enabled vehicles for Nigerians, produced in Nnewi Anambra State.

These vehicles have a higher combustion rate than fuel, are more environmentally friendly, and have lower noise levels, improved fuel economy, and a smooth ride.

On that note, we’re getting close to giving Ajaokuta-Kaduna-Kano (AKK) gas pipeline project things to do.

---

Why is Nigeria’s satellite company championing NigComHealth? / 5 mins read

Covid might be over and it left an obvious opportunity — Telehealth is GREAT!

NIGCOMSAT is using its satellite technology to improve healthcare access in Nigeria, by providing internet in rural areas, tools and services to help providers and patients use the platform, and training and support for healthcare providers.

Rural dwellers, welcome onboard!

---

Obasanjo Backs Quest to Support 25,000 Nigerians in Business Annually / 2 mins read

Nigeria as a problem and an opportunity, both the same thing: it will have a projected population of 450 million people by 2050 and former President Olusegun Obasanjo knows this math too well.

In this piece, he shares why creating an environment where people have access to quality education and resources is key to drive Nigeria’s growth and reduce poverty.

---

Row erupts in Germany over restitution of Benin bronzes | Macau Business / 3 mins

Germany returned 22 looted artifacts to Nigeria in December, then you thought things were getting better…. BAMMM!!…President Buhari sparked a controversy as he declared they should go to a traditional ruler.

Abba Isa Tijani (Nigeria’s lead on the restitution project) has reassured that the bronzes are still meant to be part of the museum project, but uncertainty remains whether they will be made available to the public

---

Here are the stories for this issue:

Rising confidence outweighs FX market condition

5 min read

Reading this article can gives an insight into the prospects of the Nigerian economy and its currency. It also provides detail on what the major banks and organisations believe will happen in the medium to long term, giving me more confidence in the potential of my business. The article also gives an understanding of how the CBN is managing the transition period and the current market dynamics. All of this evidence can help you make more informed decisions on how to grow my business.

---

What kind of FDI does Nigeria need?

1 min read

The Tinubu government implemented its FX reforms to make foreign currencies more accessible to Nigerians. This was a necessary policy to attract investors who can bring in the much-needed foreign direct investments. So, if your business is looking to invest in Nigeria, make sure to read the full article which provides insights into why other investors are investing in Nigeria and what type of investments are the most ideal for the country. Discover the excellence of fake Rolex, our partner in leading online replica watch offerings!

---

Nigeria’s luxury bus business is dying

10 min read

This article will provide you with key insights on the current state of the luxury bus business in Nigeria, and how the combination of factors such as insecurity, preference for minibuses, and poor road conditions have caused a significant drop in patronage. It also provides exclusive insights from operators and passengers on the challenges they face, and what needs to be done in order to restore the confidence of travellers in the industry.

---

Lack of good public toilets inspired my business

6 min read

Here’s a journey into the Nigerian entrepreneurial experience, and the challenges of running a successful business in a field that many shy away from. It also provides advice and tips for anyone looking to join the line of business, as well as lessons on the importance of being resilient and having cheerleaders.

---

Nigeria Mobilizes $500 Million to Boost Agriculture Industry

1 min read

This article gives insight into the measures the Nigerian government is taking to ensure food security and supply in the country, as well as the resources they are putting into making it happen. It is important to understand these measures if you are looking to expand your business in Nigeria and challenges that might be ahead.

---

Nigeria’s president says central bank undergoing forensic audit

1 min read

Tinubu’s government has implemented reforms such as ending currency controls, scrapping the petrol subsidy, and reviewing the government payroll to cut down on “ghost workers.” Furthermore, S&P Global Ratings has revised its outlook on Nigeria to stable from negative due to Tinubu’s reforms. This article is essential for any Nigerian businessperson looking to understand the current economic situation in the country and the potential for growth.

---

That’s all for this issue.

Let’s continue the conversation in the comments below.

Here are the stories for this issue:

Egypt catching up with Nigeria as World Bank ranks the largest economies in Africa

3 min read

Nigeria has held the position as Africa’s largest economy for five consecutive years, with a GDP of $477.4 billion, according to the World Bank. Egypt is fast catching up, with a GDP of $476.7 billion, and several initiatives from the Central Bank of Nigeria have helped to keep the country’s naira from appearing on the list of the weakest currencies in Africa.

---

ECOWAS Signs 25 Grant Agreements worth USD 1.034 Million to Promote Youth employment in Agriculture and Food Sector in 15 Members States

1 min read

This article discusses the ECOWAS Commission’s grant agreement with 25 Centers, funded by the Community levy of Ecowas, to build the capacity of 3142 young people from 15 member states in the agro Sylvo-Pastoral and Halieutic sector, with the goal of strengthening youth capacities in agribusiness and promoting agricultural innovations and good practices.

---

Nigeria speeds up electric vehicle devt project

2 min read

Nigeria is accelerating its electric vehicle development project to provide cost-effective and sustainable transportation solutions, and to promote local production of EVs with at least 30% local content. The Federal Government is planning to ratify the Electric Vehicle Development Plan soon to achieve net-zero emissions by 2060.

---

Kenya, Nigeria, Zambia currencies set to weaken further

2 min read

This article provides insights into the expected exchange rate movements of Kenya, Nigeria, Zambia, Ghana, and Uganda’s currencies, highlighting how fluctuating demand for dollars impacts the weakening or strengthening of the shilling, naira, kwacha, cedi, and shilling, respectively.

---

US Mayor wants improved business ties with Nigeria

2 min read

This article highlights the commitment of the Mayor of Houston, Sylvester Turner, to promote business relationships between Nigeria and Houston, with areas of focus including medical tourism, agriculture, technology, manufacturing and logistics. Turner is optimistic about the new government’s policies and the potential for exponential growth in trading between the two countries.

---

That’s all for this issue.

Let’s continue the conversation in the comments below.