Category: Uncategorized

Nigerian FMCG Companies’ Finance Costs Surge 133% to N1.07 Trillion Amid FX Losses

Nigerian FMCG Companies’ Finance Costs Surge 133% to N1.07 Trillion Amid FX Losses Source– Nairametrics Finance costs among major fast-moving consumer goods (FMCG) companies in Nigeria surged by 133.3% year-on-year, reaching approximately N1.074 trillion in the first nine months of 2024, up from N460.22 billion recorded during the same period in 2023. The sharp increase […]

Nigeria Customs Clarifies CBN Sets Exchange Rates for Cargo Clearance

Nigeria Customs Clarifies CBN Sets Exchange Rates for Cargo Clearance Source– Nairametrics The Nigeria Customs Service (NCS) has clarified that it does not determine exchange rates used for cargo clearance, stating that the Central Bank of Nigeria (CBN) is solely responsible for setting rates applied in import and export valuation. The clarification was contained in […]

Renewable Energy Can Boost Year-Round Farming and Cut Post-Harvest Losses — Agric Sector Skills Council Boss

Renewable Energy Can Boost Year-Round Farming and Cut Post-Harvest Losses — Agric Sector Skills Council Boss Source– Nairametrics Renewable energy has the potential to transform Nigeria’s agricultural sector by reducing post-harvest losses, lowering energy costs, and enabling year-round farming, according to Newton Ovie, Executive Secretary of the Sector Skills Council for Agriculture (SSC4A). Speaking in […]

Nigeria Installs 73MW of Solar in 2024 as Africa’s Renewable Energy Market Surges

Nigeria Installs 73MW of Solar in 2024 as Africa’s Renewable Energy Market Surges Source– Nairametrics Nigeria added approximately 73 megawatts (MW) of solar power capacity in 2024, marking steady progress in the country’s adoption of renewable energy and contributing to a broader solar energy expansion across Africa. The development was highlighted in a recent report […]