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Is China the Problem with Nigeria’s Substandard Imports?
There is a need for more market surveillance in Nigeria. Markets should be routinely observed to spot and eliminate inferior goods and prevent their entry.
Category
Business
Did GlaxoSmithKline leave Nigeria due to low profits?
Highly renowned for its quality products, including Theraflu, Neosporin, Panadol, Sensodyne, Advair, and Neosporin, the exit of the pharmaceutical company could reduce people’s access to safe and potent medications.
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From notorious energy crisis to high import costs: Why Nigerian factories are shutting down
Rising inflation has driven the monetary policy rate -benchmark interest rate – from 11.5 percent in May 2022 to 18.5 percent in May 2023, hurting manufacturers in need of funding for expansion.
SMEs face cash crunch as banks prioritise large enterprises
In April 2022, Nigeria’s President, Muhammadu Buhari, said that his government had done much to create an enabling environment for micro-, small- and medium-scale enterprises (MSMEs) to thrive.
Among the charred remains
Investigation unveils how a Chinese-run company aided by government officials exports charcoal and timber despite a ban, threatening Nigeria’s forests
#ChartOfTheDay: Top States Where it is Easy to do Business in Nigeria
According to the Subnational Ease of Doing Business survey conducted by the Presidential Enabling Business Environment Council, using a 10-point scale, these are the top states where one can do business in Nigeria.
Nigeria’s trade deficits hit N7.37 trillion in 2020
Nigeria’s trade balance in 2020 closed with the highest deficit in the fourth quarter (Q4). During the year, the country imported goods worth N19.89 trillion and its export closed at N12.52 trillion, thereby incurring a trade deficit of N7.37 trillion for the period.
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Where is the preferred destination for Foreign Direct Investment – Ghana or Nigeria?
The World Bank placed Ghana 13 places over Nigeria in its 2020 international ease of doing business rankings. Nigeria ranks 131st behind Ghana, the 118th in the world. These ratings come at a time when Ghana lost 4 points from its ranking in the previous year 2019 and when Nigeria just gained 15 places from 146th in 2019 to its current 131st worldwide.
CBN, NIRSAL MfB disburse ₦20.18bn to SMEs as COVID-19 loan, conceal beneficiaries’ list
The Central Bank of Nigeria (CBN) says it has released ₦20.18 billion to NIRSAL Microfinance as credit facilities to small businesses to cushion the effect of COVID-19.
Big plans for novel tech startup, MyKab
An indigenous tech outfit, MyKab is fighting back Uber and Bolt for market share.
Accountant General Paid Half A Million To Counter FOI Request, Pushes Blame On MDAs Over N173 Billion Payment Without Proper Records
The Accountant General of the Federation, Mr. Ahmed Idris, spent N520,000 to counter a request for Freedom of Information (FOI) on N173 billion spendings without proper records.
No Loans Barred (2): The widening gap between loan availability and access to MSMEs
In recent years, the amount of loans committed to Micro, Small and Medium Enterprises (MSMEs) has not only been low, but the news is also that it is actually getting lesser by the years. A National Bureau of Statistics (NBS) data revealed that, between the year 2015 and 2017, the number of borrowers that gained access to loans within the various categories of MSMEs declined consistently and considerably (see chart below).