New initiative targets youth unemployment, environmental protection and inclusive economic growth through sustainable electronic waste management By GLEBM News The Governments of Zambia and Japan, in partnership with the International Labour Organization (ILO), have launched a new initiative aimed at transforming electronic waste into a source of employment and economic opportunity for young people while…
NECA has urged the Federal Government to prioritise electricity, infrastructure and regulatory reforms, saying Nigerian businesses continue to struggle with high operating costs despite ongoing economic reforms. By Kikelomo D. The Nigeria Employers’ Consultative Association (NECA) has called on the Federal Government to intensify efforts to address Nigeria’s persistent electricity crisis, regulatory bottlenecks and infrastructure…
By GLEBM News The Federal Government is proposing the establishment of a National Housing Finance Authority as part of broader efforts to improve access to affordable mortgages and stimulate growth in Nigeria’s housing sector. The proposed institution is expected to strengthen housing finance by improving coordination across the mortgage ecosystem, mobilising long-term funding and expanding…
Afreximbank has completed a $5.3 million cross-border fuel transaction through its Africa Trade Gateway, marking the platform’s first energy-sector trade deal in Southern Africa. By GLEBM News The African Export-Import Bank (Afreximbank) has recorded a significant milestone in its drive to digitise intra-African trade, successfully facilitating its first energy-sector transaction in Southern Africa through its…
Nigeria’s new VAT Modification Committee begins work on a revised VAT framework aimed at boosting government revenue while protecting businesses, investment and economic growth.By GLEBM News Nigeria’s newly inaugurated Value Added Tax (VAT) Modification Committee has commenced work on one of the country’s most significant fiscal assignments, with the responsibility of reviewing the nation’s VAT…
African banks, policymakers and the African Union are pushing for a continent-wide single-digit financing facility to boost livestock investment, strengthen pastoral economies and improve food security. By Raymond Akorede African financial institutions, policymakers and development partners are advocating the creation of a continent-wide low-interest financing facility to accelerate investment in the livestock sector, describing affordable…
Nigeria’s manufacturers face rising electricity, financing and logistics costs that are weakening industrial competitiveness, the National Sugar Development Council has warned. By GLEBM News Desk Nigeria’s manufacturing sector is facing mounting pressure from soaring production costs that leave local factories struggling to compete with rivals across Asia, according to the National Sugar Development Council (NSDC)….
FirstBank has advised Nigerian SMEs to strengthen cash flow and maintain proper financial records, saying repayment capacity now carries more weight than collateral in business loan approvals. By Kikelomo D. FirstBank Nigeria has encouraged small and medium-sized enterprises (SMEs) to focus on maintaining strong cash flow and accurate financial records, saying these factors play a…
NECA, MAN, NACCIMA and other employer groups say additional pension burden could slow investment and job creation By GLEBM News Nigeria’s organised private sector has urged the Federal Government to suspend plans to increase mandatory pension contributions, warning that the proposal could place additional financial pressure on businesses already grappling with high operating costs and…
MAN says structural challenges continue to limit productivity despite ongoing economic reforms By GLEBM News The Manufacturers Association of Nigeria (MAN) has renewed calls for comprehensive structural reforms aimed at improving productivity, reducing production costs and strengthening the competitiveness of Nigeria’s manufacturing sector. The association said while recent economic reforms are intended to reposition the…
