Dangote Sugar Plc eyes end to sugar importation in 2028

Dangote Sugar Plc eyes end to sugar importation in 2028

The Chairman of Dangote Sugar Plc, Alhaji Aliko Dangote, says the company plans to end the importation of sugar in the next four years going by efforts in its backward integration policy.   He stated this during the company’s 18th Annual General Meeting held in Lagos where the company’s shareholders approved the appointment of some Board members…

Here is a list of coal-dependent countries as of 2022

Here is a list of coal-dependent countries as of 2022

According to the BPE, applicants are expected to be domestic/international investors or groups with proven track records in ownership, financial capability, and technical competence in the exploration and/or mining industry. President-elect is in support of coal use While running his presidential campaign, President-elect Bola Ahmed Tinubu said he would encourage the use of coal in…

Gold prices hit an all-time high amid high geopolitical uncertainty

Gold prices hit an all-time high amid high geopolitical uncertainty

The price of the precious metal settled at an all-time high on Monday, supported by continuing geopolitical tensions and bets on a Fed rate cut. Gold futures expiring in April increased by 1.4 percent to $2,125.65 an ounce, while spot gold increased by 0.5 percent to settle at a record of $2,126.30. Some weak U.S….

Cocoa prices drop by 26% in two days amid uptick in rainfall, boost in Nigeria’s output

Cocoa prices drop by 26% in two days amid uptick in rainfall, boost in Nigeria’s output

Cocoa prices moderated past its two and a half-week low on Tuesday amid a boost in supplies from Nigeria and an uptick in rainfall. Nigeria, the world’s fifth largest cocoa producer, reported that its March cocoa exports rose +19% y/y to 22,199 metric tons. Cocoa active contracts dropped more than a fifth of their value…

Top 10 sectors that got highest forex from CBN in 2023

Top 10 sectors that got highest forex from CBN in 2023

The Nigerian economy’s heavy reliance on oil revenues has made it particularly vulnerable to international market dynamics, leading to currency depreciation and a disparity between official and parallel market exchange rates. These conditions have exerted strain on businesses and dampened investor confidence. However, under Governor Yemi Cardoso’s leadership, the Central Bank of Nigeria (CBN) has…

Government palliative purchases driving food inflation in Nigeria – Cardoso

Government palliative purchases driving food inflation in Nigeria – Cardoso

Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has said that government purchases of palliatives are a contributing factor to rising food prices in Nigeria. During the latest Monetary Policy Committee (MPC) meeting held between March 25 and 26, 2024, Cardoso noted that new inflation drivers are emerging beyond the usual monetary factors….

Africa’s top 10 richest cities with highest millionaire population

Africa’s top 10 richest cities with highest millionaire population

Africa stands as a hub of growing cities and untapped potential, showcasing a wealth narrative driven by aspiration. With 135,200 millionaires, 342 centi-millionaires, and 21 billionaires collectively holding investable wealth totaling $2.5 trillion, the continent paints a picture of economic dynamism. However, recent data from a report by Henley and Partners reveals a migration trend…