Artificial intelligence (AI) could allow developing countries to do in a decade what might otherwise take a century—provided that governments act swiftly to close the gaps in power, connectivity, skills, and institutional quality that threaten to leave them behind,
The World Bank Group says it is closely monitoring global market developments, and is in direct contact with the most affected client countries to understand what they are facing on the ground. Shipping route disruptions are increasing costs, and supply
Global commodity prices are projected to fall to their lowest level in six years in 2026, marking the fourth consecutive year of decline, according to the World Bank Group’s latest Commodity Markets Outlook. Prices are forecast to drop by 7% in
The Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has disclosed that by formalising Commodities and Warehouse receipts the capital market can unlock $500 billion in dormant agricultural and mineral assets. Agama who stated this at a national workshop
The Federal Government  says it has successfully initiated the sale of crude to local refineries as well as corresponding purchase of petroleum products in Naira in a bid to reduce pressure on the local currency, eliminate unnecessary transaction costs, and improve availability of petroleum products. Minister
Nigeria’s headline inflation increased year-on-year (YoY) by 0.98 percent to 29.9 percent in January 2024 from 28.92 percent in December 2023. The National Bureau of Statistics NBS in its latest data release disclosed that food inflation also increased to 35.41 percent in January
President Bola Tinubu says his administration is evolving home-grown solutions to address the nation’s food security challenges by setting up schemes to support local production and discourage all forms of rent-seeking that are associated with food importation. The President made
An escalation of the latest conflict in the Middle East—which comes on top of disruptions caused by the Russian invasion of Ukraine—could push global commodity markets into uncharted waters, although the global economy is in a much better position than
Selected food prices have this week recorded declines in markets across the country; these are mostly produce that are being harvested. However, Abuja markets are relatively stable w-o-w. While beans got as high as 80,000 Naira in Donga market Taraba
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