Author: Vardiafrica

Multilateral Bank African Export-Import Bank (Afreximbank) has officially commissioned its first Afreximbank African Trade Centre (AATC) today in Abuja, Nigeria, ushering in a transformative era for trade and investment in Africa. During the grand commissioning ceremony, speakers, including Hon. Dr. George Akume, Secretary to the Government of Federation, Nigeria representing H.E. Bola Ahmed Tinubu, President of The Federal Republic of Nigeria, highlighted the AATC’s strategic importance, its pivotal role in shaping Africa’s economic future and the significant impact it is poised to make on Africa’s trade and investment landscape. Speaking at the Ceremony, Dr. Akume stated, “Afreximbank African Trade Centre (AATC) is a…

The Nigeria Liquefied Natural Gas (NLNG), in partnership with Bank of Industry (BOI), has unveiled a N1 Billion expanded Micro, Small, and Medium Enterprises (MSME) Scheme to provide financial support and capacity-building for local vendors and businesses within its host communities and Gas Transmission System (GTS) areas. The initiative it was learnt was designed to alleviate poverty, stimulate economic growth, and enhance sustainability by offering accessible loans at competitive interest rates. Under the partnership model, NLNG provides a seed fund, which BOI matches, creating a robust funding pool to support small-scale enterprises. The loans will target community entrepreneurs and vendors…

ECONEC has played a significant role in improving the electoral landscape in West Africa by promoting best practices and encouraging mutual support among EMBs, which has helped to build trust in electoral systems across the region. Photo: INEC The Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, is seeking stronger cooperation and deeper collaboration among Election Management Bodies (EMBs) within the West African sub-region. Professor Yakubu made the appeal in Banjul, the capital of the Republic of The Gambia, while attending the Extraordinary General Assembly of the ECOWAS Network of Electoral Commissions (ECONEC). In his remarks, Professor…

The Federal Government has predicted heavy rains and floods in 30 states and the Federal Capital Territory (FCT), Abuja. The high-flood risk states are: Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross-River, Delta, Ebonyi, Edo, Gombe, Imo, Jigawa, Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Rivers, Sokoto, Taraba, Yobe, Zamfara and the Federal Capital Territory. The Minister of Water Resources and Sanitation, Joseph Utsev, on Thursday, said coastal and riverine flooding would be experienced in some parts of the South-South geopolitical zone of the country due to a rise in sea level. Among these states…

The Nigerian Electricity Regulatory Commission (NERC) has sanctioned eight power distribution companies (DisCos) for noncompliance with the capping of estimated bills for unmetered customers. According to a statement on Thursday, the affected DisCos are Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola. NERC said the companies overbilled customers in violation of energy caps set by the regulator for the third quarter of 2024 (July to September). The commission said the sanctions were issued pursuant to Section 34(1)(d) of the Electricity Act of 2023. “The public may recall that in 2020, the Commission issued the Order on Capping of Estimated…

The Dangote Petroleum Refinery has reduced the price of petrol at its gantry to N865 per litre. According to sources, the refinery reduced the price of the product sold to oil marketers by N15 — from the N880 per litre sold by the facility on Wednesday. Anthony Chiejina, group chief of corporate communications, Dangote refinery, confirmed the reduction to TheCable but did not confirm the new price. However, Billy Gillis-Harris, president of Products Retail Outlet Owners Association of Nigeria (PETROAN), told TheCable that the “refinery reduced the price to N865 per litre”. The development comes a day after the federal…

The federal government has announced the signing of a major engineering, procurement, construction and financing (EPC&F) contract with China Machinery Engineering Company (CMEC) group worth US$328,818,916.99 to boost power supply across Nigeria. Minister of Power Chief Adebayo Adelabu, while speaking, Wednesday, at the signing ceremony in Abuja, said the project will ensure the rehabilitation and extensive construction of 330 kV and 132 kV transmissions. Adebayo stated that the project with a load capacity of 7,140 megawatts will act as the arteries that carry the increased power generated through Nigeria’s midstream transmission projects directly to the homes, businesses, and industries, adding that the…

U.S. immigration authorities have announced that they will review social media accounts and deny visas or residence permits to individuals who post content deemed anti-Semitic by the Trump administration. This includes social media activity supporting militant groups classified by the United States as terrorist organizations, such as Hamas, Hezbollah, and the Huthi insurgents. The policy follows the Trump administration’s controversial decision to cancel visas for certain students already in the U.S., despite the First Amendment’s guarantee of freedom of speech. Homeland Security Secretary Kristi Noem made it clear that individuals advocating anti-Semitic violence or terrorism would not be welcomed into…

Former President Muhammadu Buhari has stated that he left office with the same physical assets he had when he assumed the presidency on May 29, 2015. In a statement on Wednesday, Buhari’s media aide, Garba Shehu, revealed that the former president made the remark during a meeting with members of the Progressive Governors’ Forum (PGF) at his residence in Kaduna. According to Shehu, Buhari advised the members of the Progressive Governors Forum to adopt a citizen-centric approach, saying that “leadership presents both a challenge and opportunity, and that balancing the two would significantly advance national progress.” He added that the…

The Federal Government is stepping up its border security efforts with the introduction of automated landing and exit cards for foreign travellers. In a joint media briefing in Abuja, Ministers of Aviation and Aerospace Development, Festus Keyamo, and Interior, Dr. Olubunmi Tunji-Ojo, announced that the initiative is part of Nigeria’s broader e-Visa solutions aimed at eliminating travel bottlenecks and enhancing national security. According to the ministers, the new system developed in collaboration with the Nigeria Immigration Service, Federal Airports Authority of Nigeria, and the Nigeria Civil Aviation Authority will take effect from May 1, 2025. Mr. Keyamo said the initiative…