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AfDB appoints new director-general for Nigeria

The African Development Bank Group has appointed Mr. Lamin Barrow as the director-general of its Nigeria office. According to a statement issued by the bank on Tuesday, before his appointment, Barrow was Acting Senior Director, Nigeria Country Office, in the Regional Development, Integration & Business Development Vice Presidency. Commenting on the appointment, President, AfDB, Dr Akinwumi Adesina, said, “Mr Lamin Barrow is a seasoned professional, with a proven track record in strategic management, country dialogue, portfolio management, negotiations and building partnerships. “The Nigeria Country Office is strategic for the bank as it manages a large country portfolio and operations with State governments and...

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Firm to build Nigerian cars, generators powered by gas

Indigenous energy startup, OMAA, displayed its locally assembled vehicles and generators fuelled with gas at the recently concluded Nigeria International Petroleum Summit. The company’s founder, Chinedu Oguegbu, said at the event that the company would be pioneering energy mobility as it would be producing vehicles and generators powered by Compressed Natural Gas to maximise gas to harness the nation’s economic potential. He was quoted as saying, “Nigeria is in the top ten and this is incidental because so far, there have been very little prospects in terms of gas; its incidental for us trying to get the crude. “What it means is that...

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Terminal operators invested N538bn in port development — STOAN

The Seaport Terminal Operators Association of Nigeria has said private terminal operators at the seaports invested N538bn in port development from 2006 after the concession of the ports to December 2017. The spokesperson for STOAN, Dr Bolaji Akinola, said this in a statement made available to our correspondent while reacting to other issues he said were responsible for the Apapa gridlock. He said, “The major challenges facing port operations in the country are dilapidated port access roads, poor traffic management, and manual examination of cargo by Customs. “Terminal operators, like other business entities in Apapa, are victims of the dysfunctional state and chaos...

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TEF trains 200,000 entrepreneurs

TEF trains 200,000 entrepreneurs

The Tony Elumelu Foundation has trained over 200,000 young African entrepreneurs in core business management skills across 54 African countries as part of its 2021 TEF Entrepreneurship Programme, the Foundation has said. The foundation in a statement by on Wednesday said the TEF entrepreneurship programme would equip entrepreneurs with critical skills required to launch their businesses at the early growth stage. It said the foundation hosted entrepreneurs to weekly information sessions to address relevant concerns and share vital programme updates as well as provide active support from coaches and mentors. The foundation said it hoped to train and empower thousands more across the...

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Experts worry as rice imports increase by 200MT

rice

Agricultural experts have expressed concern over the increase in rice imports into the country despite interventions in the value chain by the Central Bank of Nigeria through its Anchor Borrowers Programme. Speaking at the ongoing 44th National Council on Agriculture and Rural Development in Abuja, industry experts observed that it was becoming tough to guarantee food security in Nigeria following widespread insecurity across the country. Delivering a presentation at the council, a professor of agricultural economics and policy as well as Chair, Infrastructure, Nigeria Zero Hunger Forum, Gbolagade Ayoola, said findings showed that Nigeria imported about 200MT of rice in 2020. He said...

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