Africa Business News

Several African leaders are in Italy's capital, Rome, for the Italy-Africa summit, which is aimed at boosting relations between Africa and the European nation. Italian Prime Minister Giorgia Meloni says during the summit Italy is expected to launch a new approach for cooperating with African countries, which is not predatory, not paternalistic, but not charitable either. The targeted areas for collaboration include energy, economic and infrastructure development, culture, food security education and vocational training. Several other countries have organised similar summits to strengthen ties with African countries, including Germany, Russia and China.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The military regimes in Burkina Faso, Mali and Niger announced their immediate withdrawal from the West African bloc ECOWAS, saying it has become a threat to member states. The leaders of the three Sahel nations issued a statement saying it was a sovereign decision to leave the Economic Community of West African States without delay. All three were suspended from ECOWAS with Niger and Mali facing heavy sanctions as the bloc tried to push for the early return of civilian governments with elections. The three nations have hardened their positions in recent months and joined forces in an Alliance of Sahel States.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The military regimes in Burkina Faso, Mali and Niger announced their immediate withdrawal from the West African bloc ECOWAS, saying it has become a threat to member states. The leaders of the three Sahel nations issued a statement saying it was a sovereign decision to leave the Economic Community of West African States without delay. All three were suspended from ECOWAS with Niger and Mali facing heavy sanctions as the bloc tried to push for the early return of civilian governments with elections. The three nations have hardened their positions in recent months and joined forces in an Alliance of Sahel States.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Chief Financial Officer, of NNPCL, Umar Ajiya, says the Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on petrol. Ajiya says fuel subsidy stopped the revenue-generating firm from remitting taxes and royalties to the Federation Account, as well as halted the company from making a profit. The NNPCL stated that this enabled the oil firm to grow its profit from N674.1bn in 2021 to N2.54tn by the third quarter of 2022.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Chief Financial Officer, of NNPCL, Umar Ajiya, says the Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on petrol. Ajiya says fuel subsidy stopped the revenue-generating firm from remitting taxes and royalties to the Federation Account, as well as halted the company from making a profit. The NNPCL stated that this enabled the oil firm to grow its profit from N674.1bn in 2021 to N2.54tn by the third quarter of 2022.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Circular Exchange 2023 Event, themed "Reflect, Learn, and Build," is set to be held 1st of February 2024 at Four Points by Sheraton, Lagos and will feature a series of engaging discussions, interactive workshops, and networking opportunities. The Exchange event will gather thought leaders, experts, and stakeholders to address the critical issue of circular procurement in Nigeria. The Circular Exchange is an annual event focused on building opportunities for circular business and investment in Lagos. The Circular Exchange Event is open to participants from government bodies, corporate organisations, businesses, non-governmental organisations, academia, and individuals interested in driving positive change.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Circular Exchange 2023 Event, themed "Reflect, Learn, and Build," is set to be held 1st of February 2024 at Four Points by Sheraton, Lagos and will feature a series of engaging discussions, interactive workshops, and networking opportunities. The Exchange event will gather thought leaders, experts, and stakeholders to address the critical issue of circular procurement in Nigeria. The Circular Exchange is an annual event focused on building opportunities for circular business and investment in Lagos. The Circular Exchange Event is open to participants from government bodies, corporate organisations, businesses, non-governmental organisations, academia, and individuals interested in driving positive change.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Federal Government is set to inaugurate a 37-man Tripartite Committee on National Minimum Wage with a mandate to recommend a new National Minimum Wage for the Country. The Secretary to the Government of the Federation. Segun Imohiosen, says the planned inauguration of the Committee is sequel to the approval of President Bola Tinubu.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Federal Government is set to inaugurate a 37-man Tripartite Committee on National Minimum Wage with a mandate to recommend a new National Minimum Wage for the Country. The Secretary to the Government of the Federation. Segun Imohiosen, says the planned inauguration of the Committee is sequel to the approval of President Bola Tinubu.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Federal Government says the relocation of the headquarters of the Federal Airports Authority of Nigeria, and some departments of the Central Bank of Nigeria to Lagos will increase operational efficiency and reduce operating costs. The Minister of Information and National Orientation, Mohammed Idris, dismissed claims that the relocation of some departments in the two agencies are political move to marginalise a section of the country. Senator Ali Ndume says It is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria, and of certain departments of the Central Bank of Nigeria are political moves aimed at marginalizing a section of the country.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.