ACIOE Associates’ Midweek Newsletter 060218
This is the Midweek Newsletter from ACIOE Associates.
NIGERIA IN FOCUS
Federal Government To Provide Insurance Cover For 3.8 Million Farmers
The Federal Government is planning to increase insurance coverage for the agricultural sector from the current 500,000 farmers to 3.8 million farmers…
External Reserves Jump By $1.7 Billion In January
Nigeria’s external reserves jumped by $1.7 billion to touch $40.625 billion as at January 30 2018, according to Central Bank of Nigeria (CBN) data.
CBN To Increase Minimum Capital Requirement For Mfbs
The Central Bank of Nigeria, CBN, is set to increase the minimum capital requirement for Microfinance Banks, MfBs with a view to enhancing their performance.
CBN Injects $210 Million Into Foreign Exchange Market
Central Bank of Nigeria (CBN) has injected 210 million dollars into the inter-bank Foreign Exchange Market to ensure availability and meet customers’ requests in various segments of the market.
Nigeria’s Non-Oil Export To Grow To N5 Trillion – NEPC
Nigerian Export Promotion council (NEPC) says the Federal Government has concluded plans to grow Nigeria’s non-oil export earnings from the current N1.5 trillion to N5 trillion between the next three and four years.
Federal Government Rolls Out 5 – Point Action Plan To Tackle Disease Control
In a bid to improve surveillance of disease outbreaks in Nigeria, sub national governments have been urged to reactivate their State Emergency Preparedness and Response (EPR) Committees, and provide logistics support for state epidemiologist/ DSNOs for active surveillance and contact tracing.
Government Plans Nationwide Screening for Cancers
The Minister of Health, Prof. Isaac Adewole, yesterday, said the Federal Government had concluded plans to roll out nationwide screening for most common types of cancers.
USAID Announces Additional $89 Million For Developmental Projects In Nigeria
The U.S. Agency for International Development (USAID) has announced an additional 89 million dollars development assistance to Nigeria.
Federal Government Targets $5 Billion Annual Investment In Power, Rail
Nigeria could invite as much as $5 billion of annual investment to improve its creaking transportation and power networks once regulatory restrictions are removed, a senior government adviser said.
Federal Government, Ogun Partner To Establish 2 Irrigation Dams
Ogun State Commissioner for Agriculture, Mrs. Adepeju Adebajo says the state government is partnering the Federal Ministry of Water Resources on the establishment of two irrigation dams, in a bid to boost agriculture in the state.
Oil, Power and Renewables
World Bank Board Set to Consider Transmission Expansion Plan
The World Bank Group is set to consider its planned expenditure on projects it had identified to fund in the transmission expansion and upgrade plan of the Transmission Company of Nigeria (TCN), the interim head of TCN, Mr. Usman Mohammed has disclosed.
Akwa-Ibom To Establish New Electricity Generating Coy
Akwa Ibom State government has concluded arrangements for the establishment of a new electricity generating company, Qua Iboe Power Plant.
Taxation: Banks Set To Release Customers’ Information To FG
The Deposit Money Banks in the country are about installing appropriate technologies that will enable them to submit the information of wealthy customers and other taxpayers to the Federal Government under the Common Reporting Standard programme, which Nigeria signed up to last August.
Buhari Signs Air Service Agreements With 5 Countries
President Muhammadu Buhari on Monday in Abuja signed the Instruments of Ratification of the Bilateral Air Services Agreements between Nigeria and Algeria; Congo; the People’s Republic of China; Qatar and Singapore.
ERGP: Buhari To Launch Initiatives For Jobs Creation, Investment
A new jobs creation mechanism and Focus Labs expected to make Nigerian economy more competitive will soon come on steam, as President Muhammadu Buhari is expected to launch an initiative to enhance jobs creation and investment strategy, as part of the Economic Recovery and Growth Plan (ERGP) Focus Labs initiative.
Information and Communication Technology
China’s Startimes Reveals $220 Million Investment In Nigeria’s Broadcast Sector
China-based pay television company, Startimes, has announced that its investments in Nigeria to boost entertainment for the past nine years has exceeded $220 million.
Zinox Acquires Konga
Zinox Group, a Nigerian ICT company, has acquired e-market giant, Konga, after months of intense negotiation.
NCC Awards A Further Two Infraco Licences
The Nigerian Communications Commission (NCC) has awarded two of the five remaining regional infrastructure company (InfraCo) licences, which allow for the deployment of metropolitan fibre-optic infrastructure and associated transmission equipment on an open access, non-discriminatory and price-regulated basis.
Telecoms Operators to Begin New Voice Termination Rate March 1
A new termination rate for telephony services for the voice segment of Nigeria’s telecommunication sector is expected to take effect from March 1.
- Zimbabwe: Country Now Free From Avian Flu
- Zimbabwe: Governmentt Secures U.S.$98 Million for Irrigation Equipment
- Rwanda: Rwanda Exported Over Rwf250 Billion Agricultural Products in 2017
- AfDB To Raise Africa’s Overall GDP To $5.6 Trillion By 2025
- AfDB Boosts ALBC Fund Books With R140 Million Loan
- Kenya: Kenya Eyes U.S.$9.6 Billion Pension To Fund Kenyatta’s Big Four Agenda
- Kenya: World’s 3rd Largest Logistics Company Opens Kenya Office
- Kenya: Kenya’s Economy To Grow 5.5 Pct In 2018: Forecast
- Uganda: Uganda Unveils E-Gp Procurement System
- South Africa: Qatar Buys 25% Stake In South Africa Block
- Kenya: Kenya Solar Power Firms To Get Sh7.5 Billion Funding For Plants
- Kenya: Offers for U.S.$350 Million Infrastructure Bond Back on the Table
- South Africa: Telkom, Huawei Trial Massive MIMO Tech
- Zimbabwe: U.S.$1.5 Billion Needed Annually for Infrastructure
- South Africa: Rio Weighs $450 Million Investment in South Africa
- South Africa: $18 Million Investment Boost for Mining Industry