The BoN

I hope you’ve had a good week so far.

Let’s start with the stories for this issue:

A New Dawn For Nigeria’s Power Sector: Highlights Of The Electricity Act, 2023

6 min read

It’s here: the Electricity Act 2023 is a game-changer. It introduces a comprehensive legal and institutional framework to guide the operation of a privatized, contract and rule-based competitive electricity market, as well as recognizing states’ rights to regulate their own electricity markets, encouraging the development and use of renewable energy sources, and protecting investment in the power sector.

World Bank to boost Nigeria’s electrification with $750 Million

1 min read

This article explores how a 40 percent increase in foreign exchange rates for clearing operations in Nigeria could have a significant impact on the cost of importing vehicles, as well as other imported commodities, and how African leaders have called for reform of the global financial architecture to provide more affordable financing to African countries to reach the Sustainable Development Goals. This might impact your business.

Tinubu to investors: Nigeria is serious with business | Our policy will be consistent

1 min read

There’s always the promises, hopefully it’s real this time — President Bola Ahmed Tinubu has committed to creating a consistent policy environment and improving the business climate to attract investments and spur growth in Nigeria. He has welcomed Shell Petroleum Development Company’s offer for investments in the oil and gas sector, and has reassured investors of his administration’s willingness to address their concerns.

Add your comment

Diaspora remittances lifeline to forex stability – Experts

5 min read

This article explores Nigeria’s foreign exchange stability that can be supported through increased remittances from Nigerians abroad, as well as diversifying the export base and increasing accountability and transparency in governance. It highlights that capital importation has dropped in the fourth quarter of 2022 and that the Federal Government should target the Diaspora for funding of key projects. It just can’t ignore them anymore.

Replace Official Vehicles Of Senators With Electric Cars, Silverbird Group Founder, Ben Bruce Tells Akpabio

3 min read

Here goes Ben Bruce…the former Senator and pro-environment activist is advocating for the ban of combustion engine vehicles in Nigeria by 2035! You can’t argue about his bigger point though: the Nigerian government is encouraging adoption of electric vehicles by phasing out petrol cars and replacing official vehicles with electric vehicles. I agree.

President Tinubu Signs Data Protection Bill In Nigeria Into Law

1 min read

Bola Tinubu’s has assented to the passage of the Nigeria Data Protection Bill, 2023 into a law which establishes the Nigeria Data Protection Commission and the Student Loan Bill, allowing Nigerian students to access loans from the government at interest-free rates. “Beautiful” was my response.

We love to continue the conversation in the comment below.

I hope you’ve had a good week so far.

Let’s start with the stories for this issue:

WTO, World Bank seek better trade deal for Nigeria, others

2 min read

WTO and World Bank are demanding progress in trade negotiations for developing countries, like Nigeria, to benefit from improved trade and investment in services.. They also stresses the need for international cooperation on services trade, as well as increased resources to strengthen developing countries’ capacities to diversify and expand their exports.

Suspension of Finance Act 2023 relief for overburdened businesses

1 min read

President Bola Tinubu’s Executive Orders and suspension of the implementation of the Finance Act 2003 have provided relief from the high taxes and charges imposed on businesses in Nigeria, helping to create a more supportive business environment. Now… we’re talking.

Commentaries On The Electricity Act, 2023

6 min read

The Electricity Act 2023 provides a comprehensive legal and institutional framework for the operation of a fully privatized, cost and service reflective tariff, contract and rule-based competitive electricity market in Nigeria, which is expected to attract private sector investments and improve service delivery in the sector.

Invest More In Nigeria, SGF Urges China

2 min read

This article highlights the commitment of the Government of the Federal Republic of Nigeria to strengthen bilateral relations with the People’s Republic of China to promote development, and emphasizes the various areas of cooperation between both countries, such as infrastructure, ICT, industrialization, investment, security, technology and agriculture.

Modern retail can contribute to national economic recovery, says expert

1 min read

This article discusses the role of modern retail in stimulating economic growth, with a focus on its contribution to GDP, job opportunities, and societal benefits, as well as its resilience in the face of economic challenges.

Chinese govt offers Tinubu development model for Nigeria

2 min read

The Chinese Ambassador to Nigeria, Cui Jianchun, has pledged China’s continued support to the Federal Government of Nigeria in the development of the country, offering tested strategies that will help boost the nation’s economy.

U.S.-based group begins move to revitalise Aba

2 min read

The Aba Reunion Group is an initiative aimed at reconnecting former residents of the commercial town of Aba, Nigeria who left for greener pastures in the 1970s to late 1980s and are now working together to revitalise the town and its commercial status.

I look forward to have us continue the conversation below.