[Nigeria Business Week] Ensuring co-operation and diligence in trade
There is no shortage of opinions with regards to what needs to be done to improve economies of Africa. Experts from diverse fields advocate for different solutions, some tailored to fit their field interests, others seeming to stem from a place of general betterment. Investment insurance has been identified as one of the areas lacking in the Nigerian (and other) economy, as pointed out by the Africa Trade Insurance Agency.
Diversification of industry and free trade has been fingered as another achievable goal to reaching development, hence the increased pressure on Nigeria to join the African Continental Free Trade Agreement (AfCFTA) movement.
The banking industry recorded an international recognition, with Zenith Bank being selected to be strategic partner to the Commonwealth Enterprise and Investment Council.
Diamond Bank also appointed a new Chairman, Board of Directors, while ICT giant MainOne opted for an Ivorien General Manager in an effort to drive expansion in Francophone Africa.
More on ICT, Buhari’s administration has come out in full support of Google's Next Billion Users plan, a moved geared towards higher digital access in the country. On the local front, awards were handed out by the Nigeria Internet Registration Association, with TFHost bagging the best local hosting company in the country.
The national petroleum corporation, NNPC, has recorded new developments – launching gas projects for national power generation, countrywide audits of delisted trucks and most recently in collaboration with other oil giants like Shell, Total and Eni, has signed an Engineering-Design contract of the Nigeria Liquefied Natural Gas.
Agribusiness saw some action, with multinational Olam International committing to the growth of poultry production in Nigeria, in agreement with veterinary health research company, Santé Animale.
On the telecom front, MTN is set to be listed on the Nigeria Stock Exchange. MTN's IPO is planned for the month of August.