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Category: Economy

  • Registration: CAC Ambassador urges business owners to beat July 7 deadline

    Registration

    By Rukayat Moisemhe

    Lagos, June 21, 2024 (NAN) Michael Nwabufo (aka Mike Premium), the Ambassador for the Corporate Affairs Commission (CAC), on Friday urged business owners to beat the July 7 deadline for registration.

    Nwabufo, a talent and brand manager, made the appeal while speaking with newsmen in Lagos.

    He said the CAC business registration could be completed within 24 hours through the new Special Registration Portal (SRP).

    According to him, the CAC has made a lot of significant advancement recently through SRP to ease registration of businesses in line with the new government directives.

    On the mandatory business registration, the CAC and the Central Bank of Nigeria, Nwabufo said the portal had enabled businesses to be registered and receive documentation in a day.

    “There is a crucial deadline for agents and fintech companies to register their businesses.

    “Compliance is mandatory under new regulations aimed at enhancing transparency and accountability within the financial sector. The deadline ends on July 07.

    “To facilitate this, the CAC has introduced a Special Registration Portal, a new system enabling businesses to complete their registration directly through their mobile banking apps.

    “This innovation streamlines the process, making it quicker and more convenient for agents to comply with the regulatory requirements,” Nwabufo said.

    He urged business owners to take advantage of the SRP immediately to ensure timely registration and avoid any potential penalties for non-compliance.

    Nwabufo urged business owners to arm themselves with further information and access to the portal by visiting the official CAC website or consult your banking app.

    Emphasising the importance of business registration in Nigeria, Nwabufo said that it would foster uniqueness and trust among entrepreneurs.

    According to him, there is a partnership between the Practitioners of Content Creating, Skit-Making, and Influencers Guild of Nigeria and the CAC.

    He said that the partnership was aimed at registering over five million new businesses nationwide within a year.

    Nwabufo thanked the Registrar-General, Hussaini Magaji SAN, for his continuous efforts in making sure the Nigerian business space was safe and secure.

    He also commended Magaji for his unwavering support for Small Medium Enterprises.

    “The CAC has been one of the top performing government parastatals in the past one year scoring 53.36 per cent in the Efficiency Compliance Ranking, 65.12 per cent in Overall BFA Performance and highest score on the ReportGov.NG platform with 67.86 per cent, indicating full compliance,” he said.

    He also mentioned the possibility of the Federal Government grants for content creators who register their businesses through this new process.

    The News Agency of Nigeria (NAN) reports that Nwabufo was appointed CAC ambassador on April 26.  (NAN) (www.nannews.ng)
    ARM/GOM/JNC
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    Edited by Gregory Mmaduakolam/Chinyere Joel-Nwokeoma

  • Regional forum will boost sustainable development in W/Africa – ECA

    Development

    By Lucy Ogalue

    Abuja, June 21, 2024 (NAN)  The Economic Commission for Africa says the Regional Forum of Intergovernmental Organisations (IGOs) of West Africa will strengthen partnership for sustainable development in the region.

     ECA, in a statement on its website, said its Sub-Regional Office for West Africa (UNECA-SRO-WA), in partnership with the Ministry of Economy, Planning and Development of Côte d’Ivoire organised the event.

    The theme of the meeting is “Strengthening the synergy of actions to accelerate regional integration and sustainable development in West Africa in a context of multiple challenge”.

    “The objective of this Regional Forum is primarily to strengthen the partnership for sustainable development between the entities of the United Nations system represented by the ECA.

    “And the Office of the Resident Coordinator of the Ivory Coast on the one hand, and West African IGOs on the other,’’ ECA said.

    Mr Phillipe Lasmel, Director-General, Development Cooperation, Ministry of Economy, Planning and Development, expressed concern that countries in the sub-region may not meet the 2030 Sustainable Development Goals (SDGs targets.

    He said this was in spite of the economic progress made by these countries.

    “It is therefore urgent to mobilise around all the levers capable of reversing this trend. In this regard, regional integration constitutes.

    “An essential lever for achieving the objectives of sustainable development and better responding to the aspirations for well-being of African populations,”Lasmel said.

    Representing the Director of ECA Sub-Regional Office for West Africa, Amadou Diouf, he said the sub-region needed concerted efforts from all stakeholders to achieve complete integration and sustainable development, as well as Agenda 2063.

    According to Diouf, it is necessary to adopt an approach that allows for strengthening the synergy of interventions around four axes of convergence.

    “These include development of rivers and basins for water management and access to energy; and information and data generation.

    “Others are financing facilities, promotion of a single currency, integrated payment systems, and strengthening of the macroeconomic framework; and  multisectoral and community interventions,’’ Diouf said.

    The Government of Côte d’Ivoire, through the Ministry of Economy, Planning and Development, inaugurated the annual meeting of the Regional Forum of Intergovernmental Organisations (IGOs) of West Africa in Abidjan.(NAN)(www.nannews.ng)

    LCN/BRM

    ==============

    Edited by Bashir Rabe Mani

  • Nigeria’s debt stock hits N121trn – DMO

    Nigeria’s debt stock hits N121trn – DMO

    Director-General of the DMO, Patience Oniha

     

     

     

    Debt

    By Kadiri Abdulrahman

    Abuja, June 21, 2024 (NAN) The Debt Management Office (DMO) says Nigeria’s total public debt stock hit N121.67 trillion (91.46 billion dollars) in March.

    The Director-General of the DMO, Patience Oniha, made this known in a statement on Friday in Abuja.

    Oniha said that the debt stock comprised the total external and domestic debts of the Federal Government, the 36 state governments, and the Federal Capital Territory (FCT).

    According to her, the total domestic debt, as at March, was N65.65 trillion (46.29 dollars), while the total external debt was N56.02 trillion (42.12 billion dollars).

    She said that the comparative figure of the total debt stock for December 2023 was N97.34 trillion (108.23 billion dollars).

    She said that the increase in the total debt stock was informed by growth in the domestic component of the debt to bridge deficit in the 2024 budget, and instability in the foreign exchange market during the first quarter.

    “Excluding Naira exchange rate movements in the first quarter of 2024, only the domestic debt component of the total debt stock grew from N59.12 trillion on Dec. 31, 2023 to N65.75 trillion on March 31.

    “The increase was from new borrowing to part-finance the 2024 budget deficit and securitisation of a portion of the N7 3 trillion Ways and Means advances at the Central Bank of Nigeria (CBN),” she said.

    She said that improvement in government revenue would go a long way in ensuring debt sustainability, while borrowing, as provided in the 2024 budget would continue.(NAN)(www.nannews.ng)
    KAE/SH

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    edited by Sadiya Hamza

     

  • Capital Raise: Fidelity Bank shares drop N14.4bn in market value

    By Rukayat Adeyemi

    Lagos, June 20, 2024 (NAN) The share market value of Fidelity Bank Plc on the Nigerian Exchange Ltd. (NGX) dropped by N14.4 billion on Thursday, amid the opening of N127.1 billion rights issue and public offer.

     

    At the close of trading, the bank’s stock, which opened at N10.85, lost 45k or 4.15 per cent to close at N10.40 per share, following sell pressure from investors.

     

    The News Agency of Nigeria (NAN) reports that Fidelity Bank earlier opened its shares offer for a rights issue and public offer by way of combined subscription, worth N127.1 billion, to meet the Central Bank of Nigeria’s (CBN) recapitalisation directive.

     

    The acceptance and application lists for the rights issue and public offer, which opened on June 20, will close on July 29.

     

    Under the rights issue, 3.2 billion ordinary shares of 50 kobo each were offered in the ratio of one new ordinary share for every 10 ordinary shares held as of Jan. 5, 2024, at N9.25 per share, totaling N29.6 billion.

     

    For the Public Offer, 10 billion ordinary shares of 50 kobo each were offered to the general investing public at N9.75 per share, to a total of N97.5 billion.

     

    However, Fidelity Bank sold 162.1 million shares worth N1.73 billion, compared to 1.1 billion shares valued at N11.3 billion traded in the previous session, making its total market capitalisation on the Exchange to stand at N332.93 billion.

     

    Meanwhile, on the overall trading, the NGX stock market closed flat, as the market capitalisation, which opened at N56.478 trillion, gained 0.002 per cent or one billion Naira to close at N56.479 trillion.

     

    The All-Share Index also advanced slightly by 0.002 per cent or two points to settle at 99,842.94, compared to 99,840.95 recorded on Wednesday.

     

    As a result, the Year-To-Date (YTD) return rose to 33.53 per cent.

     

    Gains in Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), Unilever Nigeria, Guinness, Julius Berger, Transnational Corporation, and other advanced equities dragged the market performance up.

     

    Market breadth also closed positive with 35 gainers and 17 losers.

     

    On the gainers’ table, Champion Breweries led 34 other advanced equities with a 9.88 per cent increase to close at N3.56 per share.

     

    Transcorp Hotel led 16 other declined equities on the losers’ table with a 10 per cent decrease to close at N90 per share.

     

    Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 53.64 per cent.

     

    A total of 1.3 million shares valued at N25.33 billion were exchanged in 8,364 deals, compared to 1.38 billion shares valued at N16.48 billion traded in 9,899 deals posted previously.

     

    FBN Holdings led the activity table in volume and value with 871.08 million shares worth N19.12 billion. (NAN)(www.nannews.ng)

    RUKY/ AWA

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    Edited by Olawunmi Ashafa

  • Afreximbank commits $2bn facility to support Africa’s health product manufacturing

    Afreximbank commits $2bn facility to support Africa’s health product manufacturing

    Facility
    By Okeoghene Akubuike
    Abuja, June 20, 2024(NAN) African Export-Import Bank (Afreximbank) has committed a two billion dollar facility to the “Africa Health Security Investment Plan” to support the health product manufacturing ambition of the continent.

    The commitment was made under a renewed partnership between Afreximbank and the Africa Centers for Diseases Control and Prevention (Africa CDC) on Thursday.

    A statement issued by Vincent Musumba, Manager, Communications and Events, Afreximbank, said the cooperation agreement was announced on the sidelines of the Global Forum for Vaccine Sovereignty and Innovation in Paris, France.

    Musumba said the initiative would focus on the African Pooled Procurement Mechanism (APPM) and the Platform for Harmonised African Health Products Manufacturing (PHAHM).

    He said the initiative was pivotal in addressing Africa’s health investment challenges, promoting economic development, and strengthening health security across the continent.

    “ It also intends to complement GAVI’s innovative financing mechanism, the African Vaccine Manufacturing Accelerator (AVMA).

    “Which is set to provide up to two billion dollars in financing to African manufacturers of health and pharmaceutical products over the next 10 years.”

    He said African pharmaceutical companies faced severe impacts of global health, security and economic challenges, yet they were the drivers of investments and technology advancements that the health sector needs.

    “Low investor confidence, lack of appropriate infrastructure, trade-related barriers, and regulatory challenges are some of the constraints to investment in Africa’s health sector.

    “While funds might be available, many potential investments do not materialise due to financial and non-financial obstacles.

    “Coordinated efforts at the continental level are essential to reverse this trend and align with the New Public Health Order.”

    He said closing the investment gap would be crucial to achieving the African Union’s ambition of manufacturing 60 per cent of vaccines needed locally by the year 2040.

    “As well as implementing all other countermeasures necessary to ensure self-reliance, especially during crises such as pandemics and outbreaks.”

    Musumba quoted Prof. Benedict Oramah, President and Chairman, Board of Directors, Afreximbank as saying:

    “We are pleased to be part of yet another momentous event that will change the course of health security in Africa.

    “This facility will help strengthen the manufacturing of health and pharmaceutical products in Africa through our comprehensive and existing interventions such as Project Preparation funding, Project and Trade Finance as well as Guarantees.

    “Furthermore, we intend to put our full weight behind this facility with equity investments through our subsidiary FEDA – the Fund for Export Development into Africa.”

    He quoted Dr Jean Kaseya, Director General, Africa CDC, as saying, “Today is a big day for African vaccine manufacturing as well as health products manufacturing in general.

    “This is as we welcome these major investment announcements that will change the face of health products manufacturing in Africa for years to come.

    “Protecting our future means investing in our ability to achieve self-reliance on all health countermeasures; vital to accomplish our mission of safeguarding Africa’s health.”

    Musumba said the ‘Africa Health Security Investment Plan’ was built on three key pillars which include Technical Assistance and Advisory Services, Investment Project Pipeline and Regulatory and Normative Support.

    He said the Africa Health Security Investment aimed to tackle Africa’s health investment challenges, promote economic growth, and enhance health security across the continent. (NAN)(www.nannews.ng)

    OKE/VIV

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    Edited by Vivian Ihechu

  • FirstBank hosts cybersecurity webinar to enhance payment technology safety


    Mr Olusegun Alebiosu, Managing Director/Chief Executive Officer, FirstBank

    Cybersecurity

    By Grace Alegba

    Lagos, June 20, 2024 (NAN) FirstBank has educated businesses and customers on the latest advancements in payment technologies to protect them from loosing their funds to hackers.

     

    Mr Harrison Nnaji, Chief Information Security Officer of the FirstBank, at a cybersecurity webinar, on Thursday, said that it was imperative to keep the bank’s customers knowledgeably equipped with essential strategies to safeguard themselves from cyber threats.

     

    The webinar which has the theme: “Unlocking Secure Convenience: Exploring the Future of Payments Technologies”.

     

    Nnaji  said that customers would be protected from cyber threats if they practiced five to 10 per cent of measures from the quarterly webinar.

     

    Speaking on the topic, “Banking on Safety: Innovative Security Features on FirstBank Digital Products”, he appealed to participants to become ambassadors who would utilise the information and pass the knowledge to their communities.

     

    He highlighted the vulnerabilities of customer data to both internal and external threats and advocated for robust firewalls and enhanced privacy measures.

     

    He said that breakdown of global cybercrime damage costs predicted by Cybersecurity Ventures for 2024 indicated that 302,000 dollars would be lost to hackers per second, 18 million dollars per minute, 26 billion dollars daily and 9.5 trillion dollars a year.

     

    He outlined best practices for secure digital banking and detailed FirstBank’s commitment to cyber threat prevention through multi-factor authentication, end-to-end encryption, and real-time fraud detection.

     

    “Our dedication to maintaining the highest standards of security and privacy extends to every interaction and transaction.

     

    “It underscores FirstBank’s pledge to be the bank customers can always rely on for the utmost protection of their financial safety and personal privacy,” he added.

     

    Nnaji also stressed the shared responsibility between the bank and its customers in preventing financial losses. “Our goal is to ensure your hard-earned money remains secure,” he said.

     

    Mr Mayowa Adewumi, Cyber and Intelligence Regional Manager, Mastercard, discussed the evolution of the payment ecosystem and the associated risk factors due to technological advancements.

     

    He noted that it was imperative to prioritise over convenience, to prevent unauthorised access to funds.

     

    “As a customer, you play a crucial role in maintaining security by adopting best practices and staying informed and vigilant as payment technologies evolve,” Adewumi advised.

     

    Mr Peter Ehizogie, Regional Manager Product Sales, Cyber and Intelligence Solutions (West Africa) at Mastercard, explained backend security measures that require active customer participation.

     

    He highlighted the importance of choosing the best authentication options tailored to individual needs, such as password authentication with Multi-Factor Authentication instead of biometric options.

     

    Mr Emmanuel Okoroji, Head of Threat Intelligence & Risk Management, FirstBank, moderated the webinar, which provided valuable insights into the future of payment technologies, focusing on achieving secure and convenient transactions for businesses and consumers. (NAN)(www.nannews.ng)

    GA/AWA

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    Edited by Olawunmi Ashafa

     

  • Katsina gets committee to review books on investment opportunities 

    Books
    By Zubairu Idris
    Katsina, June 20, 2024 (NAN) The Katsina  Government has inaugurated a 12-member committee to review three books that highlighted the state’s investment opportunities.
    Gov Dikko Radda, at the inauguration on Thursday in Katsina, said that the committee was mandated to review the three books.
    Radda, who was represented by the Secretary to the State Government, Abdullahi Garba-Faskari, said the committee would also examine the texts, images and overall presentation of the books.
    He said the other terms of reference included evaluating the books accuracy, quality and relevance to Katsina in history, culture and tradition.
    Others were to identify any error, inaccuracies or misleading information that might be contained in the books.
    The governor further said the committee would provide constructive feedback and recommendations for improvement, and requested for additional information or clarification from the  authors or publishers, if necessary.
    He said the committee has two weeks to submit its reports.
    The News Agency of Nigeria (NAN) reports that the books are: Katsina Unveiled, Katsina ICONS and Katsina Traditions.
    Responding on behalf of the committee, its  Vice Chairman, Mr Muttaqa Rabe-Darma, thanked the government for finding them worthy of the job.
    He said the books would sell Katsina to the outside world.
    “They will help to attract people to come to the state and invest.
    “As long as people realise that there are things they want in Katsina, they will come,” Rabe-Darma  said.
    He assured that the committee members would work tirelessly to justify the confidence reposed in them.
    Prof. Sani Abubakar-Lugga would serve as Chairman, Commissioners for Information, Commerce and Trade, would serve as members, among others, while the Director,  Press SSG’s Office, Mr Abdullahi Aliyu-Yar’adua, would serve as Secretary.
    ZI/CHOM/BRM
    ================
    Edited by Chioma Ugboma/Bashir Rabe Mani

  • Fidelity Bank opens N127.1bn combined rights, public offer 

    Capital
    By Rukayat Adeyemi
    Board/Management team of Fidelity Bank and NGX at the Bank’s Facts Behind The Combined Offers presented to capital market stakeholders on Tuesday in Lagos.
    Lagos, June 20,2024 (NAN) Fidelity Bank Plc, on Thursday, opened application list for its rights issue and public offer by way of combined subscription, totaling N127.1 billion, to meet the Central Bank of Nigeria’s (CBN’s) recapilisation directive.
    Dr Nneka Onyeali-Ikpe, rhe Managing Director of Fidelity Bank, announced this at the Bank’s Facts Behind The Combined Offers, presented to capital market stakeholders on Tuesday in Lagos.
    Onyeali-Ikpe said that the acceptance and application lists for the rights issue and public offer, which opened on June 20, would close on July 29.
    She explained that under the rights issue, 3.2 billion ordinary shares of 50 kobo each was offered in the ratio of one new ordinary share for every 10 ordinary shares held as of Jan. 5, 2024, at N9.25 per share, totalling N29.6 billion.
    For the public offer, the managing director stated that 10 billion ordinary shares of 50 kobo each was offered to the general investing public at N9.75 per share, totalling N97.5 billion.
    “Fidelity is the first to launch this offer out of the many, following the recapitalisation announcement by the CBN in march.
    “The bank has already started the process of raising additional capital ahead of the CBN’s directive, requiring banks to raise minimum capital base of N200 billion for national banks.
    “Also, N500 billion for banks with international operation like ours, amongst other capital requirements.
    “This did not come as a surprise to us. Our capital raising process was practically initiated after obtaining approval from our shareholders in August 2023.
    “The exercise is part of our strategic growth plan to raise additional capital to meet our growth needs,” she added.
    The managing director lauded the CBN recapitalisation directive, adding that it presented a significant opportunity for a stronger and more resilient banking industry.
    Onyeali-Ikpe said that the proceeds from the capital raise would be instrumental in achieving the bank’s strategic growth plan.
    According to her, the proceed will  expand the bank’s s footprints within and outside Nigeria to serve as a product customer base and  unlock new market opportunities.
    She said that the financial institution was also committed to leveraging proprietary technology to improve operational efficiency and deliver exceptional customer service.
    By investing in IT infrastructure and product distribution channels, Onyeali-Ikpe said that the bank aims to diversify its earnings base through digitalisation and business expansion.
    “The offer will increase our capacity to support our customers and their businesses.
    “In summary, this capital raise will help our customers to grow their businesses to thrive, and the economy to prosper.
    “We appreciate the NGX for their continued support and for providing us a platform to raise capital to achieve our goals,” she said.
    Commenting, Mr Ahonsi Unuigbe, Chairman, NGX, lauded the bank’s board and management on the capital raise initiative, saying it underscores its dedication in enhancing its operational efficiency and market presence.
    Unuigbe said that the combined offer was a testament to Fidelity Bank’s unwavering commitment to strengthening its own capital base and ensuring sustainable growth.
    He added that NGX, as a business enabler, is committed to providing platform that supports issuers and market participants in achieving their business objectives.
    In his address, Mr Jude Chiemeka, Acting Chief Executive Officer, NGX, commended the bank for choosing the platform to communicate its financial performance, operational developments and strategic plans to undertake the capital raise.
    Chiemeka stated that such accurate, accessible and timely information was essential to stimulate market activity and underscored the bank’s dedication to providing relevant information to the market.(NAN)(www.nannews.ng)
    RUKY/AWA
    ============
    Edited by Olawunmi Ashafa
    ===

  • 4 vessels to discharge products at Lekki Deep Sea Port

    4 vessels to discharge products at Lekki Deep Sea Port

    Vessel

    By Aisha Cole

    Lagos, June 20, 2024 (NAN) The Nigerian Ports Authority (NPA) said no fewer than four vessels will discharge various products at Lekki Deep Sea Port in Lagos.

    The News Agency of Nigeria (NAN) reports that NPA made the disclosure in its Shipping Position, a daily publication of the the organisation, in Lagos on Thursday.

    NAN also reports that the four vessels will discharge crude oil, bulk urea and fuel oil.

    NPA said that another six vessels were expected to berth at various ports in Lagos.

    It also said that two of the expected vessels would berth with containers of different goods.

    “The remaining expected vessels will berth with diesel, bulk gas, fuel oil, and cargo.

    “Two vessels are waiting to berth with wet cargo and general cargo at two ports in Lagos,” the report said. (NAN)

    AIC/CEO/IFY

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    Edited by Chidi Opara/Ifeyinwa Omowole

     

  • NEITI, stakeholders meet to review 2023 Nigeria extractive industries report

    Coordinating Director of the Executive Secretary’s Department, Mrs Jane Onwumere who represented the Executive Secretary of NEITI at the event.

     

    Report
    By Lucy
    Abuja, June 20, 2024 (NAN) The Nigeria Extractive Industries Transparency Initiative (NEITI), is engaging with stakeholders to review and validate the 2023 Annual Progress Report (APR) of Nigeria’s extractive industries.

    Dr Orji Ogbonnaya Orji, the Executive Secretary of NEITI, said this at a Stakeholder’s Consultation/Validation Meeting on Thursday in Abuja.

    The News Agency of Nigeria (NAN) reports that the meeting was centred on the 2023 Annual Progress Report (APR) of the Nigeria Extractive Industries, which covers the oil, gas, and mining sectors.

    Orji, represented by a Director in NEITI, Mrs Jane Onwumere, said that  stakeholders engagement in the Extractive Industries Transparency Initiative (EITI) process was important.

    “The global EITI requirement of 1.5 under its 2023 standard mandates all implementing countries, including Nigeria, to document their review of the impacts and outcomes of the EITI implementation in an APR.

    “This can also be done through other means as may be agreed by Multi-Stakeholders Group (MSG).

    “It requires that all stakeholders, companies, government and civil society involved in the EITI process, including those not on the MSG, should participate in reviewing the impact of EITI implementation.

    “They are required to also provide feedback and have their views reflected in the annual progress report.”

    Orji said the programme, therefore, aimed to reflect the stakeholders’ views in the 2023 APR of the NEI in line with the requirements of the global EITI.

    He said the event served as an opportunity to evaluate and celebrate the progress, milestones, and achievements recorded in Nigeria’s extractive sectors in the year under review.

    Orji called on stakeholders to share their contributions to the sector to enable NEITI to report and celebrate them through the instrumentality of the global EITI.

    According to him, the APR is not solely the business of the NEITI Secretariat but a collective effort by all parties working towards achieving EITI objectives in Nigeria.

    “While we acknowledge that there are still many issues to be addressed in the sectors, we must document, report, and celebrate our efforts and progress.

    “Addressing those issues will build trust, earn citizens/investors’ confidence, and attract the desired investment into our extractive sectors and economy.”

    Also speaking, a former member of the EITI International Board, Mrs Faith Nwadishi, decried the regular dissolution of the board by successive governments.

    Nwadishi said,” the fact that each time a new government comes into office, it dissolves the EITI Board in the country is a concern.

    “This is because it can lead to the country’s suspension from the international body, but we are lucky that the Board was eventually put together.

    “I am sure that if the NEITI Board had not been put together, the EITI International Board meeting happening right now in Geneva would have been a serious concern.

    “We had a similar issue in 2016. Therefore, we must understand the role of the Board.”

    Nwadishi, while commenting on the draft report, also observed that not many Civil Society reports had been captured in the APR.

    She urged them to send their reports, saying it was why it is a country work plan comprising inputs of all stakeholders, civil societies, government, and companies.

    NAN reports that the meeting brought together a diverse group of stakeholders, including representatives from companies, government agencies, civil society organisations, and other entities involved in the EITI process.

    The participants contributed and expressed their concerns, which the NEITI pledged to address accordingly. (NAN) (www.nannews.ng)
    LCN/EEE

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    Edited by Ese E. Eniola Williams