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  • Updated: 7 hours ago

Business news roundup from June 17- June 22, 2024

Business news roundup from June 17- June 22, 2024

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Illegal trade hindering economic growth, promoting corruption- WTO

Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO) The World Trade Organisation has disclosed that illicit trade damages societies and hinders economic growth and development, adding that it promotes corruption and deprives governments of essential tax revenue needed for societal investments.

It stated that the WTO Secretariat, under the leadership of Director-General Ngozi Okonjo-Iweala, had been examining how WTO rules help members address some of the challenges posed by such trade. Read more here.

WFP partners Nigeria to commence food assistance program

The United Nations World Food Program, WFP, has revealed its partnership with the government of Nigeria and other countries in West and Central Africa to begin this year’s food assistance program for the lean season beginning in June to August.  

This was revealed in a statement by the organisation, stating that it targets to reach 7.5 million people in the region despite the near-record number of people in need of food assistance. Read more here.

Electricity tariff increase: KEDCO drags MAN to court

The Manufacturers Association of Nigeria, MAN, has been dragged to court by Kano Electricity Distribution Company, KEDCO, to the High Court of Federal Capital Territory, Abuja, over unlawful interference with its business, causing N5.3 billion monthly loss.

The DisCo made this known in a statement on Friday by its, Head of Corporate Communications, Sani Bala Sani. Read more here.

NECA urges FG to adopt policies to grow private sector

Adewale Oyerinde, the Director-General of the Nigeria Employers’ Consultative Association, has urged the Federal Government to adopt alternative policies to foster growth and development in the private sector

Oyerinde said this during a press conference on the upcoming Nigeria Employers’ Summit, themed ‘Economic Renaissance: Harnessing Government Reforms and Private Sector Agility’, scheduled to be held on June 25-26, 2024, in Abuja. Read more here.

FG approves N21bn to provide free meters

N21bn has been approved by the Federal Government under the Presidential Metering Initiative to close the country’s metering gap by providing meters to unmetered power users at no cost.

The announcement was made in an order by the Nigerian Electricity Regulatory Commission on Friday with the number – NERC/2024/072, titled “Order on the Operationalisation of ‘Tranche A’ of the Meter Acquisition Fund”. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.

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