Tag: Nigeria
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Nigeria’s local airlines risk collapse as load factor declines
Exactly a week after commercial airlines resumed flight services on Lagos-Abuja route, local airlines are struggling to sustain operations and meet cost as load factor hovers around 40 per cent. The day-one optimism of about 70 per cent traffic across some of the local carriers has waned. Some of the operators complained about traveler apathy,…
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COVID-19: IMF approves $3.4 billion in emergency support for Nigeria
The International Monetary Fund (IMF), has approved a disbursement of US$3.4 billion to Nigeria to support the country’s efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices. “The Executive Board of the International Monetary Fund (IMF) approved Nigeria’s request for emergency financial assistance of SDR 2,454.5…
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Allow Ghanaian traders stuck in Nigeria to move out — GUTA
In relation to the recent extension of the border closure by Nigeria to the end of January 2020, The President of Ghana Union of Traders Association (GUTA) Dr. Joseph Obeng is calling on Nigerian authorities to allow Ghanaian traders stuck inside Nigeria to leave with their products back to Ghana. The extension which was approved…
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Ghanaian goods stuck in Benin after Nigeria border closure — AGI reveals
The Association of Ghana Industries (AGI) has revealed that goods worth millions of cedis belonging to Ghanaian manufacturers are stuck at Benin’s border with Nigeria Nigeria which is Africa’s most populous country partially closed its borders with Benin in August this year in a move to curb the movement of illicit weapons and other smuggled…
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Nigeria border closure: Ghana to leverage on AfCFTA to reduce impact
Nigeria’s decision to close its borders to neighbouring Benin may be a bigger problem than envisaged. This is because other countries including Ghana are feeling the bite of the action, albeit remotely. The development becomes more alarming when the continent is working on a common trade market, the African Continental Free Trade Area (AfCFTA). But…
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Gov’t to make Accra a Financial Services Hub
Finance Minister Ken Ofori-Atta has disclosed that government is planning to make Accra a financial hub to attract major banks in West Africa to site their headquarters in Ghana. Currently, the African Development Bank has its headquarters in Abidjan, Ivory Coast, while Ecobank has its headquarters in Lome, Togo. Speaking at a ceremony to showcase…
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Article: Boosting energy access, security in West Africa through regional cooperation
The developed part of the globe have found reliable and affordable energy as an enabler to goods and services that has enriched and extended lives. And for developing countries, the need for consistent supply of affordable energy is more vital to modernizing agriculture, increasing trade, empowering women, saving lives, improving transportation, expanding industries, and powering…
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IMF cuts global economic growth target to 3.7%
The International Monetary Fund (IMF) has cut global growth projection to 3.7 per cent for this year [2018] and 2019. The Fund says the global economy’s growth target has dropped by 2 percent from the initial 3.9 percent. The Economic Counsellor and Director of Research Department at the IMF, Maurice Obstfeld disclosed the Fund’s new…
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Dr. Mahamudu Bawumia opens Ghangeria Rising Conference
Vice President, Dr. Mahamudu Bawumia will be opening this year’s edition of the Ghangeria Rising Conference in Accra. The conference is scheduled for Thursday, 10th May, 2018 at the Kempinski Hotel Gold Coast City, Accra. It will assemble key investors, businessmen and women, policy makers and regulators to discuss trade, business and investment opportunities between Ghana and…
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Ghana is safe from kerosene shortage – Energy Institute
The Institute for Energy Security (IES) has downplayed fears of a likely shortage of Kerosene following scarcity of the product in Nigeria. According to the Institute, Ghana has about 20 million litres of domestic kerosene and seven thousand liters of aviation kerosene available and will not be experiencing a shortage any time soon. “Ghanaians need…