Prime Business AfricaHere are the top stories in Prime Business Africa on business and economy, politics, health insights and entertainment.
2023 Jefferson Fellowships: Facts To Know About Mbamalu, 10 Other Prestigious Fellows
The 2023 Jefferson Fellowships kicked off in Hawaiʻi, United States on the 8th of October, 2023 with 11 seasoned journalists drawn from around the world as participants of the scholarship which will stretch until the 30th of October.
Among them is the Publisher and Editor-in-Chief of Prime Business Africa, Dr. Marcel Mbamalu, who is the only African selected to participate in this year’s edition of the highly-coveted Fellowships.
2023 Jefferson Fellowships: Facts To Know About Mbamalu, 10 Other Prestigious Fellows
PBA Editorial: Nigerian States Must Stop Borrowing To Pay Salaries
At a time when there is a N540 billion increase in the amount shared between the Federal Government, states, and Local Government Areas, it is confounding for state governors to go a-borrowing to the tune of N46.17 billion just to pay salaries between January and June 2023. The sub-national governments secured the facilities from Access Bank, Fidelity Bank and Zenith Bank Group as revealed in the half-year 2023 financial statements of the financial institutions.
This is happening at a time when 28 states of the federation failed to attract any foreign investment. It is hard to see how there can be capital importation to such states considering where they spend the lifeline which borrowing is to them. Read more
PBA Editorial: Nigerian States Must Stop Borrowing To Pay Salaries
Beyond Smoking And Drinking: These Other Factors May Harm Your Kidneys
The health of your kidneys is crucial, as these vital organs are responsible for filtering waste and excess fluids from your blood.
To ensure your kidneys function optimally, it’s essential to cultivate healthy habits and make lifestyle adjustments. Let’s explore some key practices that can significantly impact the health of your kidneys. Read more
Beyond Smoking And Drinking: These Other Factors May Harm Your Kidneys
Artificial Intelligence And The Future Of Music Industry
Music is one of the most artistic and important aspects of the entertainment industry. It has for years been part of human existence and is highly recognized across all cultures in the world.
The industry has undergone periodic changes ranging from the type of lyrics to instrumentation used in production, mode of operation, duration, and dissemination to the public. Read more
Nigeria @63: Power Sector Woes Continue To Stagnate Industrial Growth
As Nigeria, the most populous country in Africa celebrates its 63rd independence anniversary, failure to fix power sector problems has undoubtedly remained a major albatross to industrial growth in the country.
In what seems like a stubborn ailment as some analysts have described it in the past, the scourge has seemingly defied medications as successive governments for over six decades have failed to fix it, constantly plunging Nigerians into darkness, taking a heavy toll on businesses that reel under the burden of high energy costs. Read more
Nigeria @63: Power Sector Woes Continue To Stagnate Industrial Growth
REVEALED: Why More Nigerians Are Still On 2G Networks, Not 5G
he difficulty in laying fibre cable across many communities in Nigeria, which is not being allowed in several communities without extortions and ‘settlements’ has been identified as the bane of broadband penetration in Nigeria. This is even as various communities of entitled people demand gratifications before they can allow operators to install telecom towers in their localities. Read more
REVEALED: Why More Nigerians Are Still On 2G Networks, Not 5G
South Africa’s Investment In Nigeria Drops By 81% In 4 Years
South African investment in Nigeria has dropped by 81% over the last four years, marking a shift in the dynamics of Africa’s economic powerhouse. Directly addressing the issue, financial experts and business leaders have voiced their concerns. Read more
South Africa’s Investment In Nigeria Drops By 81% In 4 Years
Working Anywhere
Given the ongoing evolution in the digital technology realm, it is now unmistakably clear that the upcoming significant frontier, reshaping employee convenience and enhancing workplace productivity, can’t be confined to the traditional office space anymore. A workspace can literally exist anywhere. And this will not necessarily alter the way you communicate and engage with your teams, provided you are well-prepared with the right tools (and mindset). Read more
Israel-Gaza Shame: A Festering Cancer To Global Peace
ithin the past week, serious tensions flared up again between Israel and Palestine, after Hamas, the leading militant group in Gaza, staged a terrorist attack on Israel.
The attackers killed nearly 1,000 Israelis in the most brutal fashion, with at least 150 taken hostage. Read more
CBN And Policy Priorities
The Central Bank of Nigeria (CBN) was established by the CBN Act of 1958 and commenced operation in 1959. The current legal framework within which the CBN operates is the CBN Act of 2007 which repealed the CBN Act of 1991 and all its amendments.
The Act provides, among other things, that the CBN should be a fully autonomous body in the discharge of its functions under the Act and the Bank and Other Financial Institutions Act, with the objective of promoting stability and continuity in economic management. Read more
My Street Is Drained – Pat Utomi
had looked forward to Chief Chris Ogunbanjo’s centenary birthday with relish. And history had much to do with that. I was so privileged, in 1983 to represent the then Vice-President Dr. Alex Ekwueme at the 60th birthday celebration of the legal luminary, boardroom Icon, and Business leader, when the VP had to travel in place of President Shehu Shagari. But less than two months to the 40th anniversary of that event this role model’s role model was called to join the ages. Our world is much diminished by this passing. Read more
Building To Last: Nurturing Excellence And Crafting Future African Leaders At UBA
Some moments resonate as profoundly remarkable in life, where dreams are born from humble beginnings and transformed into extraordinary realities.
As I stood before 700 UBA graduate trainees, drawn from across Africa, I thought of the long journey that brought me to where I am today. A journey that began with the same vigour, dedication, and hope that I saw in these young Lions and Lionesses. Read more
Building To Last: Nurturing Excellence And Crafting Future African Leaders At UBA
UN: Over 400,000 Displaced, 23 Aid Workers Tragically Killed In Gaza
In the wake of the ongoing crisis, the United Nations(UN)’ humanitarian office (OCHA) has revealed that since the commencement of Israeli retaliatory strikes following Hamas attack on Saturday, more than 400,000 people have been forced to flee their homes.
This mass displacement is a testament to the severity of the conflict, which has taken a heavy toll on the lives of those caught in its crossfire. Read more
UN: Over 400,000 Displaced, 23 Aid Workers Tragically Killed In Gaza
Japa: Rent Hike Relocates Residents To Streets, Cemetery As Canada Considers Sealing Student Visas
Weeks after the Canadian Housing Minister, Sean Fraiser, disclosed that Canada is currently faced with the increasing cost of accommodation, it has emerged that several people are now homeless in the North American country as housing prices and rents have increased in local real estate markets. Read more
Japa: Rent Hike Relocates Residents To Streets, Cemetery As Canada Considers Sealing Student Visas
Manufacturing Sector Witnesses Soaring Capital Inflow In H1
The manufacturing sector has seen an increase in capital inflow during the first half of 2023, surging to $861.16 million, marking 88.16% rise when compared to the $457.67 million recorded during the same period in 2022, according to data from the National Bureau of Statistics (NBS).
Speaking on this development to The Guardian, Dr. Chinyere Almona, the Director-General of the Lagos Chamber of Commerce and Industry (LCCI) pointed out that much of the capital imported into the manufacturing sector in H1 2023 has been in the form of loans and bonds. Read more
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