The National Bureau of Statistics (NBS) has disclosed that the country’s agric sector contributed about $205.5 million (N78.1 billion) in export of produce in the second quarter of 2020. The NBS indicated that the total trade in agricultural goods during the second quarter of this year stood at N493.7 billion. The NBS report on Nigeria’s agric export was enlisted on ‘Foreign trade in goods statistics’ for the second quarter of 2020. Countries in the continent of Asia, Europe and America were among those that received the bulk of Nigeria’s agricultural products.
 
A breakdown of the statistics showed that most agricultural goods were exported at N43.6 billion (Asia), N26.4 billion (Europe), and N6.6 billion (America). Raw cocoa beans, sesame seeds, cashew nuts, fermented cocoa beans and other produce were spotted as key drivers of the country’s agricultural product exports in the quarter under review. The report cited The Netherlands (N9.3 billion), Indonesia (N3.7 billion) and United States (N2.4 billion) as main consumers of superior quality cocoa…
 
More details through:
https://www.newtelegraphng.com/q220-agric-export-boosts-gdp-by-n78-1bn/
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Nigeria imported manufactured goods worth $7.32bn (N2.78tn) while the total export component was N254.2bn between April and June.
 
According to figures obtained from the National Bureau of Statistics on foreign trade statistics for the second quarter, this amounted to a difference of N2.52tn in the period under review. According to the NBS, N757.99bn, N885.98bn and N1.14tn manufactured goods were imported in April, May and June respectively. It also revealed that N137.06bn, N82.07bn and N35.03bn were exported in April, May and June respectively…
 
More details through:
https://punchng.com/nigeria-imported-n2-78tn-manufactured-goods-in-three-months-nbs/

The Transmission Company of Nigeria on Thursday announced that the nation’s power industry attained another all-time national peak electricity generation of 5,459.5 megawatts.
 
It said this quantum of electricity was efficiently transmitted through the nations transmission grid at a frequency of 50.26Hz by 8.15pm on October 28.
 
“This milestone in generation is higher than any peak ever recorded in the nation’s power industry as at date,” the General Manager, Public Affairs, TCN, Ndidi Mbah, said in a statement issued in Abuja…
 
More details through:
https://punchng.com/power-generation-hits-all-time-peak-of-5459mw-tcn/
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Barely one year after it took control of Kenya’s foremost incubator and accelerator iHub, Nigerian-based Co-Creation Hub (CcHUB) has again moved on to another tech company in the East African country, eLimu. The acquisition of eLimu, a digital educational content provider in the East Africa region, interestingly, was perfected by iHub on behalf of CcHUB….
 
More details through:
https://businessday.ng/lead-story/article/nigerias-cchub-acquires-another-kenyan-startup-elimu/
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The World Bank has expressed willingness to give each state of the federation a grant of two million dollars to enable them to update their property records.
 
This, however, is based on the condition that benefiting states capture at least 50 per cent of properties in urban areas that have electricity connection before June 30, 2021.
 
This was contained in a statement titled, ‘NGF holds SFTAS Peer Learning Events on GIS Deployment to Strengthen Land Administration and IGR at State Level…States that accomplish this task before June 2021 to get $2m’, signed by the Head, Media and Public Affairs of the Nigeria Governors’ Forum, Abdulrazaque Bello-Barkindo, in Abuja, on Wednesday…
 
More details through:
https://punchng.com/wbank-pledges-72m-for-states-land-administration-records/
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The Federal Government through the Nigerian Shippers’ Council (NSC), Nigerian Ports Authority (NPA) and Nigerian Maritime Administration and Safety Agency (NIMASA) is working on giving tax incentives and 98 per cent independent power supply for terminal operators.
 
The Executive Secretary, NSC, Mr Hassan Bello who stated this when he visited some port terminals at the Lagos ports, urged shipping companies and terminal operators on the need to adopt the Nigerian Export Proceeds (NXP) number.
 
He added that the NXP number was produced to smoothen export transaction and the Central Bank of Nigeria (CBN) gave 90-days transaction period and so operators should take that opportunity…
 
More details through:
https://www.sunnewsonline.com/fg-to-grant-tax-incentives-98-ipp-supply-to-terminals/
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International customers – Niger, Benin, Togo – who purchase power from Nigeria remitted a total of $5.37m (N2.04bn) in the first quarter of this year as their outstanding electricity bill to the Market Operator of the sector in Nigeria.
 
But special customers, Ajaokuta Steel Co. Ltd and its environs, did not make any payment in respect of the N0.27bn and N0.05bn invoices issued them by the Nigerian Bulk Electricity Trading Plc and the MO respectively, during the period of review. The Nigerian Electricity Regulatory Commission disclosed this in its report for the first quarter of 2020.
 
It said a total of N4.05bn ($13.22m) invoices were issued by the MO to international customers including Societe Nigerienne d’electricite or NIGELEC; Societe Beninoise d’Energie Electrique or SBEE; and Compagnie Energie Electrique du Togo or CEET…
 
More details through:
https://punchng.com/niger-benin-togo-pay-nigeria-n2-04bn-electricity-bill/

The October Purchasing Managers’ Index (PMI) for the manufacturing sector stood at 49.4 index points, indicating a reversal of five consecutive months of contraction which started in May.
 
This is according to the result of PMI survey released by the Statistics Department of Central Bank of Nigeria (CBN) on Tuesday. The News Agency of Nigeria (NAN) reports that the manufacturing PMI for the month of September was 46.9 index points. The survey revealed that of the 14 subsectors surveyed, six recorded expansion above 50 per cent threshold…
 
More details through:
https://www.sunnewsonline.com/pmi-nigerias-manufacturing-sector-records-growth-says-cbn/

Air Peace has said that it would soon be commencing regular commercial flight operations from its Lagos hub into the city of Johannesburg, South Africa, in keeping with its vision to provide seamless connectivity across cities.
 
The airline says it has made progress in meeting the stipulated requirements of the aviation authorities in both South Africa and Nigeria to enable it launch flight operations into the country before the year runs out.
 
In a statement by its spokesperson, Stanley Olisa, the airline said that South Africa is one of the destinations which the Federal Government had designated Air Peace to operate into, adding that Lagos-Johannesburg-Lagos would be operated thrice a week…
 
More details through:
https://www.sunnewsonline.com/air-peace-set-to-begin-commercial-flights-to-johannesburg/
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Broadband internet penetration in Nigeria has increased from 33.72 percent in August 2019 to 43.3 percent in August 2020.
 
The minister in charge of the Ministry of Communication and Digital Economy, Isa Pantami, said this at the World Information Development Day in Abuja on Saturday.
 
“When I assumed office on the 21st of August 2019, the official broadband penetration figures stood at 33.72%. It increased with the subsequent monthly figures from end of August 2019 to end of August 2020, where it stood at 43.3%,” he added…
 
More details through:
https://www.premiumtimesng.com/business/business-interviews/423150-nigeria-has-achieved-43-broadband-penetration-minister.html