Ngozi Okonjo-Iweala, director general of the World Trade Organisation. Photo by Fabrice Coffrini/AFP via Getty Images Dorrit Posel, University of the Witwatersrand In a recent study South Africa was identified as ranking first of 164 countries in the World Bank’s global poverty database. Underlying this inequality is its very high rates of unemployment. Professor Dori Posel spoke to World Trade ...

The National Petroleum Investment Management Services (NAPIMS) has described the deep-water operations of Shell Nigeria Exploration and Production Company Limited (SNEPCo) as best in class. The Group General Manager of NAPIMS, the investment arm of the Nigerian National Petroleum Corporation Limited (NNPC), Mr. Bala Wunti, gave this commendation when he led his leadership team on an inspection of the SNEPCo-operated ...

A rise in fraud continues to plague the insurance, banking, retail, telco and gaming sectors, with so-called “shallowfakes” now being highlighted as a growing threat alongside more sophisticated “deepfakes”. While deepfakes require AI to create realistic but synthetic still or video images or voice recordings, shallowfakes can be created easily and quickly using regular software, such as PhotoShop. “The accessibility ...

Waste pickers at the Olusosan landfill work in a hazardous environment. Lionel Healing/AFP Olanrewaju Dada, Olabisi Onabanjo University Lagos, Nigeria’s economic hub, with a population of more than 15 million, generates an estimated 12,000 metric tonnes of waste daily, which comes to about 4.3 million tonnes of waste annually. This ends up on the streets and in the city’s four ...

…to employ 30,000 youths in Nasarawa Management of Dangote Sugar Refinery Plc has resolved to significantly reduce the importation of sugar into the country by 40 percent, thus paving the way for the employment of over 30,000 youths. President of Dangote Group, Aliko Dangote, explained recently in a chat with newsmen that it was embarking on Phase II of its ...

The Minister of Finance and National Planning, Zainab Ahmed, has said the federal government will borrow over N11 trillion and sell national assets to finance the budget deficit in 2023. She also said the government’s budget deficit is expected to exceed N12.42 trillion if it should keep petroleum subsidy for the entire 2023 fiscal cycle. Mrs Ahmed disclosed this on Monday ...

New train services like this, in Lagos, are designed to boost economic activities and ease movement of passengers. Pius Utomi Ekpei/AFP via Getty Images Stephen Onyeiwu, Allegheny College Nigeria is preparing to elect its next president in February 2023. That person will have a daunting task fixing a near comatose economy. The next president and his administration will encounter monumental ...

Central Bank of Nigeria, Ibadan zonal office. Wikimedia Commons Lilac Nachum, City University of New York and Chris Ogbechie, Pan Atlantic University Privately owned Nigerian banks hold 94% of Nigerian banking assets. Only one other country in the world – Israel – has a higher share of ownership by local banks. The share of banking assets is the most reliable ...

Nigeria’s leading domestic gas distribution company, the Shell Nigeria Gas Limited (SNG), has commissioned a far-reaching gas market survey in 33% of the states in Nigeria to gain deeper market insights for entry and to accelerate the achievement of Nigeria’s Decade of Gas objectives. SNG has engaged notable indigenous consulting firm, Philips Consulting Limited, for this project which has the ...

Africa’s increasing energy gaps require collaboration to take ownership of the continent’s transition pathways and the action should be decisive and urgent, according to Vice President Yemi Osinbajo, SAN. Prof. Osinbajo stated this in his remarks delivered at the global virtual launch of Nigeria’s Energy Transition Plan, a roadmap to tackle the dual crises of energy poverty and climate change. ...