‘Nigeria is bullish on recovery, long-term prospects’
Recently, CDC Group, a leading United Kingdom development finance institution, signed a Memorandum of Understanding, (MoU) with the Nigerian Sovereign Investment Authority (NSIA), marking the beginning of high-impact participation in strategic sectors of the economy through capital mobilisation. In this interview with MARCEL MBAMALU, the company’s Head of Office and Country Director for Nigeria, Benson Adenuga, speaks on the MoU, management model of NSIA, Nigeria’s economic recovery prospects, dynamics of development funding and sundry issues.
The expected Africa’s decade of rising seems to have been truncated. Is there hope for the continent in the nearest future?
In the midst of the disruptive global economy caused by COVID-19 pandemic and economic downturn, the prospects of funding future businesses in the African continent hang in the balance, Kassim Sumaina writes on initiatives by stakeholders to chart a new course for future funding
With increasing economic challenges brought about by COVID-19, funding businesses within the African continent has taken a negative turn. And at a time, innovation and creativity ought to be a driving force in Africaâs economic growth, funding businesses becomes a key component of achieving that objective. But in the ensuing economic crisis, COVID-19 pandemic, recession in Nigeria, South Africa and other African economies, lack of funding for businesses has rather compounded the crisis. The question, therefore remains, what are the best mechanisms in funding Africaâs future businesses?
Boss-Mustapha
In the last few years, two federal agencies–the Bureau of Public Enterprises (BPE) and Infrastructure Concession Regulatory Commission (ICRC) were enmeshed in controversy over who calls the shots on public-private partnership (PPPs) projects. But the recent circular by the federal government has finally cleared the fog, writes Ndubuisi Francis
Analysts have argued that despite a number of laws regulating PPPs, Nigeria is yet to enjoy the influx of foreign direct investments to develop its infrastructure. This is attributable to the existence of a multitude and conflicting web of laws regulating PPPs in the country. There are also a host of institutions trying to regulate the same transactions culminating in constant conflicts between these agencies.