Fuel consumption in Kenya has dropped to its lowest levels in over five years, excluding the Covid-19 pandemic period, as the high pump prices have deterred motorists and kept vehicles off the road. Official data reveals a sharp decline in the consumption of super petrol, dropping by five percent to 1.01 billion liters from 1.074 […]
Nigeria Grapples with Currency Volatility as US Deputy Secretary calls for Economic Reforms
Nigeria, a nation at the crossroads of economic challenges, faces a dual struggle with exchange rate volatility and the imperative to attract foreign investments. These developments have garnered attention on the global stage, with experts and officials weighing in on the country’s economic future. Naira-Dollar Rate Volatility The exchange rate between the Nigerian naira and […]
In Need of Quick Loans? Ensure You Avoid these 37 delisted loan apps by FG
Taking a resolute step to protect consumers, the Federal Government has cracked down on illegal loan apps, delisting a total of 37 of these unscrupulous platforms. This development signifies the government’s commitment to safeguard its citizens on the significant increase in the number of fully approved loan apps, which has now grown to 164 from […]
Nigeria secures $14bn investment at the Nigeria-India Presidential Round Table and Conference
Following the current realities in the country with fuel subsidy removal and inflation figures at 24.08%, although projected to still rise significantly by the end of 2023, the Nigerian government in a series of current global partnerships is in a race to attract more foreign direct investments into the country. On a visit to India […]
LIDA Network’s Twitter Space: “Market Forces Responsible for Citizens Hardships in Nigeria and Africa at Large.”
LIDA Network is glad to invite you all for LIDA NETWORKs Twitter Space happening today, 28th July 2023 at 4:00pm WAT and 6:00pm EAT respectively as we help you understand the current economic situation in Nigeria and Africa at large. Implication of new policies by the current administration (In Nigeria), its short, medium and long […]
CBN Reduces Number of BDC operators from 5689 TO 2991
LIDA Network had conducted an investigation regarding how Bureau De Change operators in Nigeria had formed a cartel under the watch of the Central Bank of Nigeria. LIDA Network can now confirm that a previously inexistent link on the homepage of CBN’s website now shows that the CBN has taken the necessary action in cleaning […]
LEKKI DEEP SEA PORT PROMOTES AFCFTA GAINS BUT LOCAL COMMUNITY SEEK SHARED PROSPERITY AND ENVIRONMENTAL PROTECTION
The Lekki Deep Sea Port holds the promise to position Nigeria for the big gains of the AFCFTA, competitive transshipment, and status upgrade as the maritime hub of West Africa, but the neighboring local communities also want a share of this prosperity and protection against any adverse sustainability and human rights issues following the development. […]
New Markets Emerge as Drug Production and Consumption Reach Record Highs- UN Report shows
According to a UN report released on Sunday, the worldwide demand for cocaine and the trafficking of methamphetamine are witnessing an unprecedented surge. The report, presented in the annual World Drug Report by the UN Office on Drugs and Crime (UNODC), In 2021, the most recent year for which data is available, coca bush cultivation […]
Women’s Empowerment in Agriculture: Driving Agri-Business Success
Women are spearheading a transformative movement in the agricultural sector, reshaping farming practices and revitalizing agri-businesses around the globe. Their growing participation is driving economic growth and empowerment within the agricultural industry. In the past, farming was often seen as a male-dominated domain, primarily associated with rural areas abundant in fertile land. However, recent economic […]
NIGERIA’S GROWING FX CARTEL UNDER CBN’S WATCH
Musa, a Bureau De Change (BDC) operator, bailed out his elder brother after operatives of the Economic and Financial Crimes Commission (EFCC) raided a popular BDC hub in Zone 4, Abuja. He says BDC’s are filling the foreign exchange demand of citizens which CBN has failed to process fast enough. During my conversation with Musa, […]