Tag Archives: Nigeria
Nigerian Economic Recovery through Industrialization and Diversification by Public and Private Sector Synergy
The current economic crisis and recession in Nigeria has brought to the fore what is already known: that the existent Nigerian national economy is not organized for internal self-propulsion and autonomous economic and business activities. The Nigerian economy, since independence, has been operated by the maintenance of the neo-colonial system of development incapacitation, primary commodity export, dependency and poverty generation. Its basic and long-standing focus has been on the expanded production and export of primary commodities, such as agricultural products like palm oil, groundnut, cotton, cocoa, rubber in the 1960s and 1970s and subsequently crude oil since the 1970s. But as raw material export depends on external demand, it does not activate autonomous and secure economic activity. Therefore, the Nigerian economy has no internal capacity for mass production and self-propulsion. It is a large, unfree, dependent and unviable economy.
Visitor registration is now open for Propak West Africa 2017 as the show is set to make history as the largest edition to date.
Compelling Mozilla-backed research (www.Mozilla.org), carried out by Research ICT Africa, finds that significant barriers to internet access remains in four African countries – Rwanda, Kenya, Nigeria and South Africa. The research aims to understand, from a comparative perspective, how the citizens use the internet when data is subsidised and when it is not.
Ghana hosted the 2nd edition of the African Clean Up Conference through the Green Africa Youth Organization. The event was held at Hans Cottage Botel in Cape Coast, Ghana during the weekend. This was to match up with the action the desires of the convener of the conference, African Clean Up Initiative, a non-governmental organization in Nigeria and also the convener of the Clean Up Nigeria Project for Africans to begin to take responsibility in solving their environmental challenges in both indigenous and creative ways.
ASKY, a pan African airline formed by key players in Africa such as Bank for Investment and Development (EBID), the West African Development Bank (BOAD) and the ECOBANK Group, as part of its mission to connect West Africa and central Africa more easily with the focus of making business and leisure travel easily as well as reducing the flying time for travelling between the two regions of Africa, has inaugurate daily flights in Accra, Lagos and Abuja which started on July 3, 2017.
Commercial quality mineral resources abound in Nigeria but that’s not the issue here. While it’s true Nigeria has been blessed with grand quantities of gold, diamonds, iron ore, a variety of gemstones and lead, among others, find the technical expertise and financial savvy to take advantage of the resources has long plagued the region.
In a world first, Nigeria is pioneering a new solar electricity service and it is already transforming lives.
South Africa’s hospitality sector is poised for further growth in the next five years bolstered by inbound travelers amid a difficult and volatile economic climate.
The Dangote Group (www.Dangote.com) shone at the just concluded 2017 Gateway Trade fair which was held in Abeokuta, emerging as the second most patronised exhibitor, just as the Group disclosed that it was investing N10 billion dollars in rice cultivation in five states to boost food self-sufficiency.
African art presents some of the most fascinating and attractive works. However, the growth of the art industry in Africa has been fluctuating for some time now. Up to 28 August, Fondation Louis Vuitton in Paris is showing a selection of the biggest collection of African art in the world, put together by the Frenchman, Jean Pigozzi. The show is an expression of how African art is still of interest but for some reasons refuse to grow (within and outside the African continent). This lack of growth can be clearly attributed to the lack of institutional support for African art. Many known mega galleries and museums have no defined African art sections. This has limited the knowledge of African arts and as well diminishing its growth.
At the annual Nigerian jamboree to the Offshore Technology Conference (OTC) in Houston, Texas, Dr. IbeKachikwu, the minister of state for petroleum resources, told a “world press conference” on May 5, 2017 that Nigeria’s refineries would soon have new investors. He said 26 investors had indicated interest in the epileptic refineries. “By September, we will unveil the investors for the refineries,” the minister said smoothly, typically. “When we came onboard, the refineries were not working but as we speak, we have sizeable investment portfolio for them to an extent that we don’t know who to partner with for the investment.”
A new analysis from AfrAsia has it that Mauritius is fast rising and has the highest increasing number of millionaires in Africa although South Africa remains the lead country for highest number of millionaires. According to the report, the country experienced an exponential rise in per capita wealth – estimated at around 20 per cent and had the highest wealth per capita in Africa for the year 2016. The estimated value per capita for Mauritius was $25,700 followed by South Africa at an estimated $11,300.
SWIFT Innotribe which launched in 2009 as an innovation hub to connect people, ideas, and networks, has 10 startups to compete in the 3rd edition of the Startup Challenge for Africa.
It has emerged that financial services within Nigeria’s digital economy could add US$88 billion and create over 3 million new jobs over the next 10 years.