The Federal Government has signed a Memorandum of Understanding (MoU) with Tyazhpromexport, the builders of the Ajaokuta Steel Plant, for the rehabilitation, completion, and operation of the facility, along with the National Iron Ore Mining Company (NIOMCO). Shuaibu Audu, the Minister of Steel Development, signed the agreement on behalf of the government in Moscow, Russia, … Read more
Over 600,000 Nigerian households received direct cash transfers as the federal government resumed its payment scheme to improve social welfare and economic recovery. EKO HOT BLOG reports that Nigeria’s finance minister, Wale Edun, announced that over 600,000 households have received direct cash transfers from the federal government as part of the resumed payment scheme. Edun spoke … Read more
Presidency Denounces New York Times’ Report, Says Tinubu Inherited Dead Economy. The government defends recent policy measures, such as ending the fuel subsidy and unifying exchange rates, as necessary steps to stabilize the economy and restore confidence. The Presidency highlights positive developments like trade surplus, foreign investment, and efforts to control inflation, particularly food prices, … Read more
“Choose France” event secures $16 billion in foreign investments Record-breaking outcome surpasses previous year’s figures Reflects France’s appeal as an attractive destination for international investors Eko hot blog reports that France celebrates a significant boost in foreign investment as the annual “Choose France” summit concludes, announcing a staggering 15 billion euros ($16.2 billion) in foreign … Read more
What FG Must Do To Reduce The Price Of Cement – Block Moulders Association Reveals President of NABMON, Adesegun Banjoko, emphasizes that current cement prices remain high despite government’s threats to open borders for increased supply. Banjoko highlights the need for more cement factories in Nigeria and encourages research for alternative, locally-sourced materials to reduce … Read more
EKO HOT BLOG reports that according to a recent survey, cement prices in some northern states have seen a decline. As reported by Legit, major cement manufacturers like Dangote, Lafarge, and BUA are selling the product at nearly identical prices. Despite efforts by the Nigerian government to alleviate the rising costs of construction materials, cement remains … Read more
Nigeria faces a multitude of crises, a suffocating blend of economic hardship and escalating insecurity. This dangerous mix is evident in the recent kidnapping of over 280 pupils and teachers from schools in Kaduna state. While the safe return of these victims remains the most pressing concern, this horrific event compels us to analyze the … Read more
Tinubu has made economic reforms, including removing fuel subsidies and fixing the foreign exchange. US Assistant Secretary of State for Energy Geoffrey Pyatt has praised these reforms, saying they could unlock new foreign investors prospects for Nigeria. Nigeria is looking to attract more foreign investment to stimulate economic growth. EKO HOT BLOG reports that U.S. … Read more
Ngozi Okonjo-Iweala, Director-General of the WTO, says a lot of trust has been broken following the 2023 general elections in Nigeria. Okonjo-Iweala emphasized that nation-building requires trust and a sense of common purpose, which cannot be achieved without citizens trusting their political leaders. She urges elected governors to rebuild trust through their policies and programs … Read more
Ogun Government has sort foreign investment for Adire production EKO HOT BLOG reports that the Ogun State government has called on foreign investors to partner with the state to improve and increase production of the Adire fabric. Olusegun Olaotan, the Permanent Secretary in the state’s Ministry of Tourism, Arts and Culture, made the … Read more
South Africa is once again at the top of the index due to its extensive capital and foreign exchange markets. Nigeria continues to make efforts in establishing an enabling investment climate for international investors….. Ekohotblog gathered that according to the Absa Africa Financial Markets Index, as the global economy struggles to recover from the worst … Read more