Business

Zimbabwe facing 'man-made' starvation, UN expert warns

Zimbabwe is facing "man-made" starvation with 60 percent of the people failing to meet basic food needs, a UN special envoy said Thursday after touring the southern African country.

Hilal Elver, Special Rapporteur on the right to food, ranked Zimbabwe among the four top countries facing severe food shortages outside nations in conflict zones.

"The people of Zimbabwe are slowly getting to a point of suffering a man-made starvation," she told a news conference in Harare, adding that eight million people would be affected by the end of the year.

Nigeria gives UK court $200 mln guarantee for stay on asset seizures in P&ID case

The Nigerian government on Thursday placed a bank guarantee of $200 million with a high court in London to secure a stay on asset seizures of up to $9 billion related to a failed gas project, a spokesman for its attorney general said.

Process & Industrial Developments, a firm based in the British Virgin Islands set up solely to build a gas processing plant in Nigeria, won a $6.6 billion arbitration award after the 2010 deal collapsed. The award has been accruing interest since 2013 and is now worth more than $9 billion.

Don’t embrace GMOs, environmentalist, Bassey, warns Nigeria

By Valentine Amanze

The Director, Health of Mother Earth Foundation (HOMEF), Nnimmo Bassey, and other environmentalists have raised the alarm over the pressure from foreign companies to flood Nigerian market with products of agricultural biotechnology known as GMOs (Genetically Modified Organisms).

They also appealed to the Federal Government, regulatory authorities and the lawmakers not to yield to the pressure to force Nigerians to consume food items that are injurious to their health.

Obi meets ex-president of Ireland (Photo)

The former President of Ireland and Global Chair of Elders for Climate Change, Mary Robinson (right), with Mr. Peter Obi (left), at the United Nations Foundation’s programme at the UN Headquarters, New York, yesterday.

Obaseki to strike $200m deal in China for Benin Enterprise Park

The Edo State Governor, Mr. Godwin Obaseki, is closing in on the $200 million deal for a textile industry to be operated by the anchor tenant at the Benin Enterprise Park (BEP), as part of efforts to industrialise the state.
The governor held meetings in China, during which Edo State's Public Private Partnership (PPP) team and the developers of the BEP, Amaya Capital, visited the Foreign Affairs Office of the Shandong Provincial People's Government for final talks with investors. The meeting targeted at attracting more companies to expand into the BEP.

Rivers govt floats Treasury Single Account

.To boost revenue generation
By Valentine Amanze

Rivers State government has concluded plans to commence the operation of Treasury Single Account to boost its revenue base.
The state Governor, Nyesom Ezenwo Wike, disclosed this in Port Harcourt, the Rivers State capital, on Thursday.
He also charged the Rivers Internal Revenue Service (RIRS) to grow the state's Monthly Internally Generated Revenue to N10 billion.
He spoke during the Flag Off of Informal Sector Tax Drive with vehicles donated by Access Bank Limited at the Government House.

Nigerian Bourse plans to start derivatives trading next year

The Nigerian Stock Exchange, Africa’s second-largest bourse, plans to introduce trading in financial derivatives next year as it seeks to deepen the market.

“We will launch with equity index futures and then grow the list from there,” Chief Executive Officer Oscar Onyema said in an interview in Abu Dhabi Tuesday. The exchange plans to introduce futures and options to enable investors to hedge and manage risks, he said at the Africa Investment Summit organized by the Abu Dhabi Investment Authority.

Ports: 25 ships with petrol, food items expected — NPA

THE Nigerian Ports Authority (NPA), in its daily publication — ‘Shipping Position’ — said on Tuesday that it was expecting 25 ships to bring in petroleum products, food and other goods at Apapa and Tin Can Island Ports,

The document indicated that the vessels were scheduled to come in between Nov. 16 and Dec. 31.

The News Agency of Nigeria (NAN) reports that 17 of the vessels were expected with petroleum products.

Nine ships were bringing in general cargo/vehicles, buckwheat, steel pipes bulk sugar and containers carrying different goods.

Lagos automobile dealers protest sealing of businesses by Customs

AUTOMOBILE dealers under the aegis of Automobile Dealers Friends Association on Monday protested the sealing of their businesses by the Nigerian Customs Service (NCS) as a result of a crackdown on cars suspected to have been smuggled through the land borders.

The News Agency of Nigeria (NAN) reports that over 100 protesting members of the Association had from 10am walked from Awolowo Road Ikeja to the State House of Assembly.

Nigerian startups are beating odds, govt to survive

Entrepreneurs in Nigeria have an oft-repeated saying that is borrowed from New York: “If you can make it here, you can make it anywhere.”

The phrase captures the daily challenges that come with running a business in Africa’s largest economy. And since tech startups exist within the ecosystem, they face their share of difficulties too. A new survey of Nigerian tech firms offers a glimpse into the tough realities of running a tech startup in the country.

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