SPVA Media Group

Niger State Governor, Abubakar Bello, and the Managing Director of FrieslandCampina WAMCO, Mr Ben Langat, stand while President Muhammadu Buhari and Netherlands Prime Minister, Mark Rutte, clap with top government officials after the signing of a Memorandum of Understanding (MoU) on dairy chain development in Abuja on November 26, 2019. The Nigerian Government is stepping up in its commitment to reducing the rate of milk importation while encouraging local production in the country. This comes as the Niger State government signed a Memorandum of Understanding (MoU) on dairy chain development with Royal FrieslandCampina WAMCO Plc on Tuesday in Abuja. Governor Abubakar Sani Bello signed the MoU on behalf of the state government while the Managing Director of the company, Mr Ben Langat, signed for FrieslandCampina WAMCO. President Muhammadu Buhari and Netherlands Prime Minister, Mark Rutte, witnessed the signing after the bilateral consultations between delegations of both co...

CBN Governor, Mr Godwin Emefiele. The Central Bank of Nigeria (CBN) says Nigeria imports cassava derivatives valued at about S600 million annually. CBN Governor Godwin Emefiele disclosed this on Tuesday at a meeting with governors of cassava-producing states in Abuja, the nation’s capital. At the event, the apex bank signed a Memorandum of Understanding with the Nigeria Cassava Growers Association and Large Scale Cassava Processors. Emefiele explained that the country was blessed with several varieties of cassava that could be explored to optimum potential. He, however, said there was a need to adopt improved varieties and practices that would guarantee better yield, better processing efficiency, increased profit and improved standard of living for the farmers. In achieving this goal, the CBN governor revealed that consultations were ongoing with the International Institute for Tropical Agriculture, Ibadan, and the National Root Crops Research Institute, Umudike. Acco...

Adamawa State Governor, Umaru Fintiri. Adamawa State Governor, Umaru Fintiri, has presented a budget proposal of N183.3 billion for the 2020 fiscal year tagged ‘Budget of Rebirth’. The governor presented the proposal to members of the State House of Assembly on Wednesday at the legislative chamber of the House in Yola, the state capital. He was accompanied by the newly sworn-in members of the State Executive Council and other top government officials. In his presentation, Governor Fintiri explained that education, health, human capital, agriculture, water supply, rural infrastructure, and community development would be given top priority. He informed the lawmakers that N85.935 billion representing 47 per cent of the total budget was earmarked for recurrent expenditure while the balance of N97.424 billion representing 53 per cent was for capital development programmes. The governor promised to complete all abandoned projects and initiative new ones with a view to impactin...

Nigeria ranked as the fourth country with the cheapest mobile internet data around the world. The world they say is a computerized world and the amount of money spent by people to access the internet has been statistically recorded, ranking Nations according to how low the cost of data is such country.

Nigeria became the largest of buyer of gasoline from China with 51,000 mt of gasoline imported from the Asian country in January 2019. While it is the first such export to any African country, latest data from General Administration showed that the first to receive gas export from China was Togo, with 50,000 mt of gasoline in April 2018. General Administration is the China Customs border agency supervising inbound and outbound activities. It is a full-ministerial-level government agency that directly reports to the State Council of the People’s Republic of China and oversees all the regional customs across the country. Quoting records from the General Administration, S&P Global Platts, a leading global independent provider of information, benchmark prices and analytics for the energy and commodities markets, said that Nigeria was the fourth-largest buyer of Chinese gasoline in January, and also the only buyer outside Asia last month.

The Nigerian Stock Exchange took a drastic decrease in investment ass election results are being announced by the Independent National Electoral Commission. Below are th result of the Stock Exchange Markets as released by the Nigeria Stock Exchange. The market capitalisation of listed equities on Tuesday shed N85 billion in six hours of trading to what traders attributed to profit taking as a result of the presidential poll. Specifically, the market capitalisation, which opened at N12.194 trillion, shed N85 billion or 0.69 per cent to close at N12.109 trillion.

Securities and Exchange Commission (SEC), the institution in charge of regulating the Nigerian Capital Market has approved the book build in respect of the proposed Green Bond, issued by Access Bank Plc. Following the approval, the book build commenced on Thursday, February 21, 2019and will be concluded in exactly one week, after which the funding of commitment will begin on Friday, March 1, 2019. The Bond, a 5-year Fixed Rate Senior Unsecured Green Bond of up to N15 Billion is the first ever Climate Bonds Standard Certified Corporate Green Bond to be issued in Africa. It has been awarded a B2 rating by Moody’s and verified by PWC (UK) following certification by the Climate Bond Initiative as having met the Climate Bond Standards. The Bank’s management had in anticipation of the approval, launched the Nigerian Green Bond Market Development Program in June 2018, in partnership with FMDQ OTC Securities Exchange and the Securities Exchange Commissi...

African countries are ranked for their part in the development of Africa through businesses. South Africa had been ranked first for the third time in a row since 2015. However, 2019 five thousand mile ranking has seen Nigeria top the charts amongst the countries in Africa conducting businesses.

  The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has charged the Corporation Downstream company, NNPC Retail, to increase its current 14 per cent market share to 30 per cent by 2020.