Major International Business Headlines Brief ::: 18 August 2025

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com
<mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish
Thoughts        <http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp
<mailto:bulls at bullszimbabwe.com?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief :::  18 August   2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Nigeria: Dangote Refinery's Direct Petrol Distribution Yet to Begin

ü  Nigeria: Kaduna Updates Tax Laws to Meet Global Standards

ü  Nigeria: Many Traders Feared Dead in Sokoto Boat Mishap

ü  Nigeria: 109 Senators' Pay Enough for 4,708 Professors' Salaries

ü  Nigeria: In New Regulatory Guidelines, ICRC Decentralises Project
Approvals to MDAs to Fastrack Delivery

ü  Nigeria: UN Ranks Nigeria 8th On African Industrialisation Index, 98th
Globally

ü  Africa: Nigeria Tops As Singapore's West Africa Trade Surges 85% to
$7.47bn

ü  Nigeria: NLC, NUEE Reject Planned Electricity Subsidy Removal

ü  Nigeria: How GDP Rebasing Spotlights Growing Non-Oil Sector

ü  Tunisia: More Than 804,800 Tunisians Have Obtained a Loan From
Microfinance Institutions

ü  East Africa: Govt to Push Private Sector Agenda Ahead of Key EAC Trade
Summits

ü  Somalia Launches Danabeysan Digital Payment System to Boost Transparency
and Efficiency

ü  Nigeria: 3rd Mainland Bridge Contract Not Yet Awarded - Govt

 


 <mailto:info at bulls.co.zw> 

 


Nigeria: Dangote Refinery's Direct Petrol Distribution Yet to Begin

Despite the much-anticipated rollout of Dangote Refinery's direct
distribution of petrol and diesel, the initiative has not commenced as
scheduled.

 

This is as key petroleum products marketers are poised for an emergency
meeting amid mounting uncertainty over the commencement of Dangote
Refinery's much-anticipated direct distribution of fuel products.

 

Recall that Dangote Refinery had announced that from 15 August, the
refinery's would begin the direct delivery of petrol and diesel to filling
stations, industrial facilities, and other high-volume consumers. According
to a statement from the refinery, it aims to meet Nigeria's daily
consumption of 65 million litres of refined petroleum products.

 

However, checks by LEADERSHIP shows the exercise may not commenced as
scheduled.

 

Efforts by our correspondent to get confirmation of the situation from
Anthony Chiejina, spokesperson of the Dangote Industry Limited (DIL) did not
yield results.

 

Chiejina, however, after persuasion called our correspondent to deny report
of any meeting with marketers where it was discussed that the refinery will
push products in bulk to the Nigerian Oil and Gas Suppliers Association
(NOGASA).

 

He said the marketers were promoting false claims as the refinery is
properly positioned to promote efficiency in the system.

 

He however kept mum on whether the exercise has actually commenced.

 

Some reports claimed that a meeting was held between Dangote and industry
stakeholders to address potential disruptions and job displacement and that
an agreement was reached where Dangote's refinery will sell products in bulk
to established distributors like NOGASA.

 

When contacted, the national public relations officer of the association,
Chief Chinedu Ukadike, denied any meeting with marketers where Dangote
agreed to deploy products to the association.

 

"Well as I speak with you, I cannot confirm that any meeting held and I have
not taken note of any of our members receiving product under the
circumstances where Dangote has distributed products from the direct
distribution initiative as earlier announced.".

 

However, he said that a stakeholder emergency meeting is being planned for
today (Sunday) or Monday to consider the next line of action.

 

LEADERSHIP reports that many marketers and tanker drivers earlier raised
concerned that the refinery's projected bypass of established distribution
methods would result in massive job losses and disrupt the national fuel
supply chain.

 

To address these issues, the Dangote Group recently held a high-level
meeting with major industry players, including the National Association of
Road Transport Owners (NARTO) and the Natural Oil and Gas Suppliers
Association of Nigeria, some reports claimed that.

 

Meanwhile, the Executive Secretary of the Major Energy Marketers Association
of Nigeria (MEMAN) told our correspondent that he would not be in any
position to confirm if the direct product distribution has started.

 

"I was not in the office yesterday and until Monday before I could confirm
whether it has started or any of our members has taken delivery under the
arrangement ".

 

LEADERSHIP reports that the refinery's plan to deploy 4,000 new Compressed
Natural Gas (CNG)-powered tankers is expected to not only address the
country's long-standing distribution inefficiencies but also reduce the
influence of intermediaries and contribute to environmental sustainability.

 

Dr Abimbola Oyarinu, a university lecturer and public affairs analyst,
stated that if successfully implemented, the policy could significantly
reduce the power held by middlemen within the oil and gas distribution
chain. He observed that these intermediaries, including tanker drivers, have
historically held the sector, and sometimes even the state, to ransom.

 

"This initiative has the potential to dismantle the dominance of powerful
middlemen, who have in the past stalled progress and held entities like the
NNPCL hostage," said Oyarinu. "However, Nigerians will judge it by its
impact on fuel prices. If it leads to cheaper petrol at the pump, it will
ease inflation considering fuel costs and exchange rates are key
inflationary drivers in Nigeria."

 

Ibukun Phillips, an energy analyst, described the move as "revolutionary",
stating that it could reshape Nigeria's energy landscape by improving
accessibility and affordability, especially in rural areas.

 

"Logistics currently account for between 10% and 30% of fuel prices," she
explained. "Eliminating this cost will naturally reduce pump prices. Rural
dwellers often pay more for fuel than those in urban areas, despite earning
less. This initiative could revive disused filling stations and ensure more
equitable distribution."

 

Phillips added that the scheme will also generate employment, with at least
8,000 drivers expected to be hired to kickstart the operation.

 

Speaking on a national television programme, energy expert and co-founder of
Dairy Hills, Kelvin Emmanuel, said Dangote's move to cover logistics costs
marks a critical shift that could allow Nigerians to finally benefit from
domestic refining. He argued that concerns about the refinery becoming a
monopoly are misplaced, pointing instead to systemic inefficiencies that
have plagued the sector for decades.

 

"People have valid concerns," Emmanuel acknowledged. "But let's be clear:
the real business marketers have been involved in isn't selling PMS with
margins of N5 to N15. Their real gains have come from exploiting arbitrage
opportunities, often with substandard imports that don't meet the sulphur
specifications outlined in the Petroleum Industry Act (PIA)."

 

He highlighted how logistical and regulatory failings have hampered fuel
distribution.

 

"For instance, I can confirm that the Nigerian Midstream and Downstream
Petroleum Regulatory Authority (NMDPRA) currently owes independent marketers
N1.8 billion in outstanding bridging claims. Whether these claims are valid
is another matter--an independent forensic audit would be required to
determine that."

 

According to Emmanuel, the Dangote Refinery is stepping in to address
long-standing gaps in Nigeria's fuel distribution system. He emphasised that
fuel supply across the country remains inconsistent, with only Lagos, a few
states in the southwest, and Abuja enjoying relatively stable and fair pump
prices

 

"Dangote is taking on the burden of transportation, storage, and bridging
costs that should have been streamlined long ago. This is in response to the
resistance from vested interests who have tried to frustrate fair and
efficient distribution," he said.

 

He further explained that the refinery's current reliance on road transport
is a strategic move to bypass infrastructural and bureaucratic bottlenecks.

 

"The immediate fix is the deployment of CNG-powered trucks to ensure
last-mile delivery while avoiding delays caused by existing structural
inefficiencies," Emmanuel added.

 

Read the original article on Leadership.

 

 

 

 

 

Nigeria: Kaduna Updates Tax Laws to Meet Global Standards

The chairman of the Kaduna State Internal Revenue Service (KADIRS), Jerry
Adams, has said the administration of Governor Uba Sani has, for the first
time, modernised tax laws to meet global standards.

 

Speaking with journalists during the Kaduna by-elections held at the
weekend, Adams said the tax reforms were designed to strengthen internally
generated revenue (IGR) and fund critical sectors such as education,
healthcare, and roads.

 

Adams said, "For the first time, our tax laws are being modernised. Though
reforms come with challenges, the long-term effects will be positive. Every
nation depends on IGR to drive development," he noted.

 

KADIRS' boss commended Governor Sani for investing in rural infrastructure
and agriculture, noting the distribution of free fertilisers to farmers.

 

Commenting on the just-concluded Kaduna By-elections, Adams said Governor
Sani's inclusiveness and peace model have boosted the All Progressives
Congress's acceptance in the Chikun/Kajuru House of Representatives
by-election.

 

Adams further attributed peaceful coexistence, workers' welfare, and
infrastructural projects championed by Governor Sani to the All Progressives
Congress (APC) 's landslide victory in the polls.

 

Read the original article on Leadership.

 

 

 

 

Nigeria: Many Traders Feared Dead in Sokoto Boat Mishap

At least 30 traders, including women, are feared dead following a tragic
boat accident that occurred on Sunday in Kojiyo village, Goronyo Local
Government Area of Sokoto State.

 

The victims were reportedly on their way to the weekly Goronyo market when
their boat, carrying both passengers and goods, capsized around 1.30pm.

 

Eyewitness said the boat was overloaded, also transporting motorcycles
alongside the traders.

 

According to local sources, the traders hailed from communities in both
Goronyo and neighbouring Gada local government areas.

 

Confirming the incident, the Chairman of Goronyo LGA, Hon. Zubairu Yari,
said four people were rescued alive.

 

He said the exact number of passengers onboard could not be confirmed, but
acknowledged that the boat was overcrowded.

 

"The traders came from different communities, including Gada LGA, to attend
the Sunday market.

 

"Rescue efforts are ongoing, but the situation is challenging due to heavy
water flow from Goronyo Dam, which is being released to prevent overflow,"
he said.

 

He added that appeals have been sent to nearby communities to assist in
locating the bodies of the victims, expressing hope that some would be
recovered today.

 

The chairman attributed the incident to overloading and poor road
accessibility, which forces many residents to rely on water transport.

 

He, however, said the state government is currently constructing roads and
bridges to improve access in the area.

 

In response to the tragedy, Yari said he had directed that no boat should be
overloaded going forward.

 

He also emphasised the need for a proper passenger manifest to be maintained
for all canoe operations within the communities.

 

Search and recovery operations are ongoing at the time of filing this report
last night.

 

Lawmaker seeks halt to water release to aid recovery operation

 

The member representing Gada-Goronyo Federal Constituency, Hon. Bashir Usman
Gorau, has called on the management of the Sokoto Rima River Basin
Development Authority to temporarily suspend the release of water from the
Goronyo Dam to allow for the recovery of bodies following the tragic
incident.

 

The lawmaker, visibly distressed by the incident, emphasised the urgent need
to support ongoing rescue and recovery efforts by creating a safer
environment for responders.

 

"I urge the authorities to consider a temporary halt in the water discharge
for a few hours. This will greatly assist our brave rescue teams in
recovering the remains of those who lost their lives in this unfortunate
tragedy," he said.

 

Boat mishaps claim over 90 lives in 3 years

 

Sokoto State has witnessed several tragic boat mishaps in recent years,
especially in Shagari Local Government Area, around rivers and dams in
communities such as Gidan-Magana, Dandeji, and Rinaye.

 

In April 2022, a boat carrying 34 passengers, mostly women and children,
capsized after hitting a submerged tree. Twenty-eight people died, while six
others were rescued. The incident occurred in Gidan-Magana village of
Shagari LGA.

 

The village head, Mohammed Auwalu, explained that the victims were crossing
the water to a nearby village, Badiyawa, when the boat struck a log beneath
the surface and overturned.

 

In October 2022, another accident happened in the same local government
area. A boat carrying 25 passengers capsized in the evening, resulting in
the deaths of 15 people.

 

The Chairman of Shagari LGA, Aliyu Dantani Shagari, who confirmed the
fatalities, said the passengers were on their way to a Maulud celebration
before the mishap occurred.

 

In May 2023, at least 17 teenagers lost their lives when a boat capsized in
the Dandeji River, also in Shagari LGA. According to the council chairman,
Aliyu Dantani, about 40 boys and girls were on board, heading to a nearby
bush to fetch firewood when the incident happened.

 

In June 2025, tragedy struck again in Rinaye village of Shagari LGA when a
boat carrying nine passengers capsized.

 

Seven people, four minors and three mothers, died in the incident, leaving
only the captain and one passenger as survivors.

 

The latest boat accident, which occurred on Sunday in Kojiyo village,
Goronyo LGA, has pushed the death toll from boat mishaps in Sokoto State to
over 90 in the last three years.

 

Flood ravages farmlands, homes, market in Bodinga, Shagari LGAs

 

Meanwhile, a devastating flood has wreaked havoc across communities in
Bodinga and Shagari Local Government Areas (LGAs) of Sokoto State,
submerging thousands of farmlands, destroying homes, and crippling the local
economy.

 

The incident happened last week, but state and federal officials visited the
affected villages for on-the-spot assessment on Sunday.

 

Hardest hit were Badau village in Darhela ward and Butuku in Toma Ward of
Bodinga LGA, where more than 3,000 farmlands and 75 farmlands respectively
were reported destroyed.

 

In Shagari LGA, the flood ravaged several homes and the popular Dandin-Mahe
market, leaving residents in shock and despair.

 

In response, the Sokoto State Emergency Management Agency (SEMA) and the
National Emergency Management Agency (NEMA), Sokoto Operations Office,
carried out a joint on-site assessment of the affected areas on August 16.

 

The delegation, led by Malam Mustapha Umar, SEMA's Director of Relief and
Rehabilitation, and Tukur Abubakar, NEMA's Planning Officer, visited
impacted communities to evaluate the scale of destruction.

 

Prior to the assessment tour, the team paid a courtesy visit to Alhaji
Ibrahim Buda, Sarkin Yamman Badau, who joined them in inspecting the
submerged farmlands and damaged infrastructure.

 

Describing the situation as "devastating," Sarkin Yamman Badau appealed to
both state and federal governments for urgent relief to support displaced
families and affected farmers.

 

SEMA's Mustapha Umar acknowledged the extent of the destruction but noted
that the ongoing road construction in the area helped mitigate the potential
damage. In Shagari LGA, a residential building collapsed during the flood,
killing a seven-year-old boy, Jafar Sani, and injuring his siblings, Ummu
Ayman and Dawuda Abubakar.

 

The children are currently receiving treatment.

 

The team visited flood-affected areas in the Dandin-Mahe community,
including Shiyar Taba and the local market, where homes and farms were
visibly damaged. Councilor Sanusi Barade Dandin-Mahe and Hon. Shehu Umar
Karoga, Councilor for Social Development, led the team through the
devastated areas.

 

Read the original article on Daily Trust.

 

 

 

 

 

Nigeria: 109 Senators' Pay Enough for 4,708 Professors' Salaries

About N2.354 billion in pay cheques, comprising the monthly salaries of the
109 senators and the cost of running their offices, is enough to pay monthly
wages of 4,708 professors at universities across the country, Daily Trust
can report.

 

Debates have continued over the perceived imbalance in the remunerations of
political office holders and academics.

 

Recently, the social media was awash with reports of Professor Nasir
Hassan-Wagini of Umaru Musa Yar'adua University, Katsina, who was seen
selling vegetables he produced at a market in Batsari as well as several
other lecturers doing "side hustles".

 

Daily Trust reports that depending on the years of professorship, a don
receives an average of N500,000 as monthly net pay, as against the sum of
N21.6 million pay cheque a serving senator receives.

 

On August 14, 2024, Senator Kawu Sumaila (Kano South) told the BBC Hausa
Service that he got N21.6 million in salary and running costs every month.
The amount is enough to pay the salary of about 43 senior professors.

 

"The amount of salary received per month is less than N1 million. If there
are cuts, it comes back to about N600,000. In the senate, each senator is
given N21 million every month as the cost of running his office," he had
said.

 

The senator spoke a day after the Revenue Mobilisation, Allocation and
Fiscal Commission (RMAFC) had claimed that each of the 109 senators in the
National Assembly received a total of N1.06 million in salary and allowances
per month.

 

Speaking to Daily Trust, the national president of the Congress of
University Academics (CONUA), Dr Niyi Sunmonu, who is an associate professor
at Obafemi Awolowo University, Ile-Ife, said academics were on the same
salary scale since 2009 until last year when the federal government
implemented a 35 percent pay raise for professors and 25 percent for
non-professors.

 

He said, "Currently, the gross salary of a professor is about N700,000.
After tax and other deductions, it comes down to around N500,000."

 

He said it is difficult for professors to replace their faulty vehicles as
their salary cannot afford them a N10 million/N15 million loan with a
repayment plan of 24 months/30 months at cooperative societies on the
campus.

 

He recalled that in the 1960s, after the Prime Minister and the Supreme
Court judges, professors were the third-highest paid public servants in
Nigeria, who, like politicians, received running costs as they were expected
to have a driver, a house helper and at least an office clerk.

 

"So, in those years of yore that the academics were motivated by the
take-home, there was motivation, which was then reflected in the quality of
the graduates. These days that salaries have remained virtually stagnant for
over 16 years, you see academics and professors who could not come to the
office five times a week because the salary is not even enough to sustain
their transportation to and fro.

 

"Some of them come around maybe once a week to attend to their classes, and
you see it written all over them that these are not happy people. Unlike
when I was an undergraduate, professors don't come around to motivate and
mentor students anymore. The remuneration is so poor that no one is
motivated," he said.

 

Sumonu urged the government to improve academics' salaries and restore
motivation.

 

"The current renegotiation the government is talking about is a little too
late, but it is better late than never. Where we are today is top-heavy and
bottom-low. The university that we see in this country today is a shadow of
its old self. In the next five or 10 years, if something drastic is not done
and all these professors retire, most universities in Nigeria will be
buried," he warned.

 

What we're doing to survive -Academics

 

In a recent viral video of the interview he granted in Hausa, Prof. Balarabe
Abdullahi of Ahmadu Bello University, Zaria (ABU), said his salary was not
enough to enroll his child in a standard school in Abuja.

 

According to him, only few young people now aspire to become lecturers,
warning that if the authorities fail to urgently reform the system, the
nation risks an intellectual drought.

 

He said more people go into politics because it offers dignity, a higher
income and stability that academia cannot provide.

 

He said: "Our salaries are 'chicken change' (meagre). Professors, who are
meant to be the custodians of knowledge and the drivers of national
progress, are now living in near-poverty. I have colleagues who have
confided in me, weeping, because they have gone three days without being
able to cook a proper meal for their families.

 

"Imagine a professor at a Nigerian university resorting to selling groceries
to make ends meet. It sounds absurd until you realise it is the daily
reality for many of us. We have children. We have dependents. And yet, no
professor in Nigeria earns enough to comfortably get through the month
without hustling. That is why many of us are constantly on the move,
desperately chasing extra income through visiting lecturing jobs.

 

"Even with a small family, we are often forced to settle for staff schools
because we simply cannot afford the fees of decent private schools. If I
were to show you my pay slip, you might be moved to tears. This is why
Nigerian lecturers are migrating in droves to countries where their
intellect and expertise are valued and rewarded. Many of us who choose to
stay do so out of a sense of duty, cultural attachment, and hope for a
better future for our country. But even that hope is wearing thin."

 

Dean, Faculty of Humanities, Abia State University, Uturu, Professor Samuel
Agu, said he and some of his colleagues were exploring other means to
augment their "meagre" pay.

 

"You have to do adjunctship in different universities or have some
businesses to sustain yourself and your family and other social and communal
obligations. I have been a professor for over eight years now. My salary
used to be around N460,000. The state government introduced some taxes and
it came down to about N390,000. With the so-called minimum wage, it is now
around N490,000," he said.

 

Asked if he gets other allowances, he said, "That is the total package. I
don't get any extra allowance."

 

A former dean at the School of Management, Federal University of Technology,
Owerri, Imo State, Prof. Chukwudi Ibe, said: "Our remuneration is not taking
us home. It stops us midway. Inflation has especially whittled it down. It's
pathetic. These are the light of society, but Nigeria does not see us as
such. Our salary is within the range of N500,000 and we don't get any
allowances."

 

Workload taking toll on our health -Lecturers

 

Lecturers said the departure of many of their colleagues for greener
pastures abroad was making them battle with a heavy workload that was taking
a toll on their mental health.

 

This, according to the Academic Staff Union of Universities (ASUU), is
further compounded by the economic hardship in the country, with several
lecturers falling ill and even dying.

 

In February 2024, ASUU said it lost 46 members in its Abuja zone owing to
economic hardship worsened by poor remuneration and unfavourable working
conditions. The Abuja Zone comprises the University of Abuja; the Federal
University of Technology, Minna, the Federal University, Lafia; the Nasarawa
State University, Nasarawa and the Ibrahim Babangida University, Lapai.

 

"In the last decade, more Nigerian academics are leaving the country in
droves in search of greener pastures, thereby overworking the patriotic ones
that remain in the system whose level of patriotism is dwindling on a daily
basis due to poor remuneration and working conditions.

 

"It is also worthy of note that the union has lost several members during
the period under review due to herculean working conditions, psychological
and emotional stress, and diseases related to these conditions. For
instance, universities in the Abuja zone have lost 46 members.

 

"In fact, just two days back, the union lost an eminent Professor of
Fisheries, Johnson Oyero of the Federal University of Technology, Minna, due
to the inability to afford quality medical facilities," the zonal
coordinator, ASUU, Abuja zone, Salahu Muhammed, had revealed.

 

Recently, crowdfunding of N13 million was launched for for the medical bill
of Professor Abubakar Roko from the Department of Computer Science at Usman
Danfodiyo University, Sokoto (UDUS), He eventually died after the donations,
including a sum of N5m from Kano State Governor Abba Kabir Yusuf.

 

Reflecting on the plight of academics in a Facebook post, a Nigerian scholar
based in Germany, Dr Mushin Ibrahim, blamed the situation on a dysfunctional
system that gives less priority to academics and the education sector at
large.

 

He wrote: "It has become monotonous to lament about the plight of Nigerian
academics on social media. We had this same conversation a few weeks ago,
shortly after the tragic story of Professor Abubakar Roko surfaced. May
Allah forgive his shortcomings and look after his family, amin.

 

"Now, no one doubts the existence of the problem. Some people may argue that
professors should do this or that to earn more than their salaries. But why
can't they get a decent payment? Isn't that what every worker deserves?

 

"Politicians are awash with money. Their welfare, as well as that of their
aides and others close to them, is non-negotiable. They not only earn
substantial salaries but also receive allowances and other benefits during
their tenure and even afterwards."

 

It's illogical paying politicians more than academics - Education rights
group

 

Hassan Soweto, the national coordinator of the Education Rights Campaign,
said it is "illogical" that politicians earn more than academics,
particularly professors, describing it as a lopsided arrangement that would
send a wrong signal to upcoming young scholars.

 

He said: "The poor remuneration of university professors and academics
across Nigeria is the first reality that any university undergraduate or
prospective scholar encounters. When a person enters the university and sees
that the living standard of his lecturers, whom he is meant to look up to,
is so poor, it immediately produces a psychological reaction. It gives a
very clear idea of how that person is likely going to end up if he chooses
academia.

 

"Unlike what used to be the case in the post-colonial era, the current poor
wage of university professors actually tells a different story. That is why
it is not surprising that among the new generation now--a subculture that
has become quite prominent-- education is seen as just a means of satisfying
the wishes of parents, while success is seen as something that is only
possible through hustle, whether legitimate or otherwise.

 

"It is completely illogical that a senator earns more than a professor. In
fact, for a society that wishes to excel and thrive, its politicians should
not even earn more than a teacher, let alone a university professor, because
politics is not a job. It ought not to be in the first instance. Politics
ought to be something that people do to offer their service selflessly to
their community, to their constituency, or to the nation."

 

Soweto said for Nigeria to recalibrate its national development objective,
"this anomaly" should be corrected, insisting that it is the only way the
dignity of education can be restored.

 

"That is when young people can be proud of going to school, recognising that
education is the only pathway to success. But right now, that is not the
case, and that is because other engagements like politics, which is not
supposed to be a profession, appear to be more profitable," he added.

 

What obtains in other African countries

 

Nigeria is one of the five biggest economies, otherwise known as the "Big
Five," in Africa alongside South Africa, Egypt, Morocco, and Kenya. Checks
by our correspondent showed that except in Nigeria, academics get very
decent pay in other countries.

 

According to SalaryExpert, the average annual gross salary for a university
professor in South Africa is R818,907 (N71.4 million), in addition to an
average bonus of R28,089 (N2.4 million). While an entry-level university
professor (1-3 years of experience) earns an average salary of R578,940
(N50.5 million) yearly, a senior-level university professor (8+ years of
experience) earns an average salary of R1,025,119 (N89.4 million).

 

In Morocco, the average annual gross salary of a university professor is
about MAD 300,290 (N50.8 million) aside from an average bonus of MAD 10,300
(N17.4m). An entry-level professor is paid an average salary of MAD 211,288
(N35.7m) yearly, while a senior-level professor earns an average salary of
MAD 374,125 (63.3m).

 

The average gross monthly salary of a professor in Kenyan universities is
estimated at 241,875 KES (N2.8 million). The lowest salary is said to be
125,866 KES (N1.4 million), while the highest monthly pay is 370,866 KES
(4.3 million).

 

The average salary of a lecture in Niger Republic, according to World
Salaries, a database of international average salaries, is 5,771,600 XOF per
year (equivalent to N15,747,986). The lowest annual salary is put at
2,773,700 XOF (N7,568,124); while the highest pay per annum is estimated at
9,060,600 XOF (N24,722,122). It is, however, not stated whether the salary
is gross or net.

 

The website also showed that a university professor in Cameroon earns an
average of 8,590,400 XAF (N23,602,723) per year. This can range from the
lowest average salary of about 4,129,300 XAF (N11,345,539) to the highest
average salary of 13,441,600 XAF (N36,931,733).

 

It stated that a lecturer working in Gambia will earn around 265,000 GMD
(N5,602,622) per year, and this can range from the lowest average salary of
about 143,200 GMD (N3,027,530) to the highest average salary of 399,900 GMD
(N8,454,674).

 

Honeymoon with gov't over, says ASUU

 

ASUU President Prof. Chris Piwuna decried the failure of the federal
government to honour most parts of the 2009 agreement it reached with the
union. The agreement seeks university autonomy, adequate funding, payment of
earned allowance, which was just recently paid, and improved staff welfare,
among others.

 

"But since the agreement was signed, what was supposed to have been
implemented progressively upon expected constant renegotiation has been left
to gather dust," Piwuna told DevReporting, an online newspaper.

 

"What we have in terms of remuneration, instead of reviewed salaries, is a
wage award. Even with the wage awards of 25-35 percent, our members are owed
more than 12 months now. And when they talk about the new minimum wage, what
we receive is a N40,000 increment," he added.

 

He said following the 25/35 percent increment, graduate assistants in public
universities who used to earn between N90,000 and N95,000 now receive
between N135,000 and N160,000, while a professor receives less than
N500,000.

 

"So, I can tell you that our members are getting agitated; they are getting
restless. If you look at our chat groups and all the universities, that is
what our members are talking about, because it is becoming very unbearable
for them to go to work, feed, pay school fees, and take care of their
families. So, it has reached the point where we think that the honeymoon
with the government is over. I repeat, the honeymoon with the government is
over. This renegotiation is over," he added.

 

A former Secretary General of the Committee of Vice-Chancellors of Nigerian
Universities (CVCNU), Professor Yakubu Ochefu, called for a national
conference for holistic discussions on the nation's higher education with a
view to finding lasting solutions to critical problems bedevilling the
sector.

 

"We need to look at it from a holistic perspective, talking about the salary
from entry points and the general funding environment of the tertiary
institutions, which is grossly inadequate. When you compare somebody who is
coming in as a graduate assistant or an assistant lecturer with somebody who
is joining the CBN and all other top government parastatals, you begin to
see the gaps," he stated.

 

Meanwhile, the Chief Press Secretary, National Salaries, Incomes and Wages
Commission, Emma Njoku, declined comment when asked on the telephone if the
academics' salaries were being reviewed.

 

He referred our correspondent to the chairman of the commission, Ekpo Nta.
Subsequent calls to his mobile telephone line to know if his boss was around
on the day our correspondent wanted to visit the commission's office were
unanswered. Also, calls to the chairman's mobile telephone line was not
answered and he had yet to respond to a text message sent to him as of the
time of filing this report.

 

Read the original article on Daily Trust.

 

 

 

 

Nigeria: In New Regulatory Guidelines, ICRC Decentralises Project Approvals
to MDAs to Fastrack Delivery

The Infrastructure Concession Regulatory Commission (ICRC) has issued new
guidelines to govern the development and implementation of all Public
-Private Partnerships (PPPs) projects in the country.

 

The new framework, was released under the statutory powers conferred on the
Commission by the ICRC Act, 2005, and in compliance with a recent
presidential directive.

 

The move seeks to overhaul the country's infrastructure delivery processes
through (PPPs), decentralise project approvals to MDAs for faster delivery
while safeguarding the ICRC's role as regulator of PPPs in the country.

 

Director General, ICRC, Dr. Jobson Oseodion Ewalefoh, disclosed the
development during a high-level stakeholders' engagement with
representatives from all Ministries, Departments, and Agencies (MDAs)
directly involved in PPPs.

 

He said the fresh regulation are in response to President Bola Tinubu's
vision to liberalise the economy and in line with the president's charge to
the ICRC to seek innovative ways to attract private sector finance to build
infrastructure through PPPs.

 

The ICRC boss said, "These rules establish a definitive framework for the
conception, development, and execution of PPP projects in Nigeria. They
decentralise project approvals to empower MDAs for faster delivery while
safeguarding the ICRC's role as regulator of PPPs in Nigeria.

 

"Every PPP project -- regardless of sector, scale, or origin -- must
strictly comply with these provisions. Every project shall be subjected to
our due diligence and compliance requirements."

 

He re-emphasised the role of the commission as a regulator of PPPs and not
an operator or grantor of projects, adding that it would continually
facilitate and coordinate negotiations between MDAs and private proponents
to ensure that the terms and conditions of agreements are fair to parties
and implementable.

 

Ewalefoh, stressed that the presidency's decision to delegate greater
approval authority to MDAs, with ICRC regulating the process, also comes
with heightened accountability and zero tolerance for non-compliance.

 

The ICRC, however, reaffirmed its commitment to collaborate with MDAs,
private investors, financiers, and development partners to reposition
Nigeria as the continent's leading destination for bankable and
transformative PPP projects.

 

Essentially, ICRC has a mandate to superintend and regulate PPPs for the
construction and maintenance of federal infrastructure.

 

Its functions include providing guidelines for project development,
tendering, and contract execution, building capacity within government
agencies, and monitoring contract compliance to address Nigeria's physical
infrastructure deficit and foster economic development.

 

Read the original article on This Day.

 

 

 

 

 

Nigeria: UN Ranks Nigeria 8th On African Industrialisation Index, 98th
Globally

The United Nations has ranked Nigeria as 8th on the African
Industrialisation Index and 98th in the world.

 

Thematic Lead for Oil and Gas at the Nigerian Economic Summit Group (NESG),
.

 

Kelvin Emmanuel, stated this in his presentation at a high-level pre-Summit
dialogue held in Abuja with the theme, "Unlocking Industrial Growth Series:
The Evolving Oil and Gas Ecosystem".

 

He lamented that Nigeria still lags behind in global ranking for competitive
industries performance adding that there is a need to make industries more
competitive especially in the oil and gas sector.

 

"Nigeria still lags behind other African countries in industrial
development.

 

"The country is ranked 8th on the African Industrialisation Index and 98th
in the world on the UN's Competitive Industrial Performance Index.

 

"Nigeria's manufacturing value per person is just $216, compared to $645 in
South Africa and $524 in Egypt," he declared.

 

Emmanuel explained that instead of helping the country grow its industries,
Nigeria's oil wealth has mostly supported a system where crude oil is
extracted and exported without much local processing.

 

He said that the trend needs to change and called for proper implementation
of the Petroleum Industry Act (PIA) and better alignment with Africa's
Agenda 2063.

 

In her contribution, a legal expert and Co-Lead on Mining at the NESG
Industrial Policy Commission, Ms. Laura Ani, said Nigeria is at a turning
point, and urged the government to stop seeing oil and gas only as a source
of government revenue.

 

Also speaking, Engr. Mansur Ahmed, who serves as the Private Sector co-Chair
of the NESG Industrial Policy Commission, said the ongoing reforms in
Nigeria provide a chance to rethink how the oil and gas industry can support
long-term development and help the country move closer to building a strong
industrial base.

 

Read the original article on Vanguard.

 

 

 

 

 

Africa: Nigeria Tops As Singapore's West Africa Trade Surges 85% to $7.47bn

Nigeria has emerged as the leader in economic expansion and employment
opportunities in Singapore's deepening trade relationship with West Africa,
which has seen an 85 percent rise to $7.47 billion from 2020 to 2024.

 

A review of the growing collaboration between Singapore and West Africa
shows Nigeria emerging as a key contributor.

 

Analysis of data from the United Nations Trade and Development (UNCTAD)
revealed that as of the end of 2023, Singapore's overall economic presence
in Africa comprises more than $20 billion in foreign direct investment. And
Nigeria currently stands as one of the leading 10 investment economies in
Africa.

 

Additionally, the Asian nation's involvement in Nigeria represents an
approach that contrasts significantly with conventional foreign investment
methods in the region.

 

Besides just trading goods, Singaporean companies emphasize generating local
value and promoting sustainable development.

 

Enterprise Singapore has greatly assisted Singaporean firms like Tolaram
Group and Valency in their operations within the Lagos Free Trade Zone.
These firms have set up local factories and processing facilities,
especially in Nigeria's agri-commodities sector, a decision that enhances
local industrial capability while promoting jobs and domestic economic
strength.

 

In contrast to traditional investors who typically extract resources for
overseas processing, Singaporean backed initiatives are establishing a
foundation for inclusive development by ensuring a larger portion of the
production value chain stays within Nigeria.

 

This approach aims to create sustainable jobs, cultivate local skill sets,
and enhance domestic markets.

 

>From 2020 to 2024, the exchange of goods between Singapore and Nigeria saw
significant variations. It started at $727.2 million in 2020, increased
notably to $1,277.3 million in 2021, and then fell to $712.1 million in
2022. The decrease persisted in 2023 with trade dropping to $410.8 million,
but bounced back in 2024 to attain $679.1 million.

 

These numbers indicate the changing character of trade relationships and the
developing investment environment between the two nations.

 

Even with variations in trade volume, Singapore's dedication to Nigerian
markets, especially in areas that promote sustainable development, indicates
a long-term strategic outlook. Industry experts indicate that Nigeria's
pivotal position in West Africa's economy renders it a desirable
collaborator for investment strategies aimed at growth.

 

Singapore's strategy in Nigeria could establish a standard for how global
collaborations can address the host nation's developmental needs while
maintaining profitability.

 

Read the original article on Vanguard.

 

 

 

 

Nigeria: NLC, NUEE Reject Planned Electricity Subsidy Removal

Organised labour in the country has voiced strong opposition to the federal
government's plan to remove the electricity subsidy, citing fears that it
will exacerbate the already severe economic hardships faced by Nigerians.

 

The Nigerian Labour Congress (NLC) and National Union of Electricity
Employees of Nigeria (NUEE) strongly opposed the planned complete removal of
electricity subsidy.

 

Recall that the federal government last week said it had accelerated plans
to clear the outstanding N4 trillion electricity debt and end the
long-standing power subsidy due to the constrained fiscal environment
triggered by significant revenue shortfalls.

 

This move, the Minister of Finance and Coordinating Minister of the Economy,
Wale Edun, had announced, underscored the government's commitment to fiscal
discipline and prioritisation of critical sectors amid tough budget choices.

 

"Going forward, that programme has been built as well, looking at ways of
making sure that collections increase, making sure that there's more of a
pay-as-you-go approach that doesn't leave government with a bill to pay," Mr
Edun stated at a media conference.

 

The aim is to avoid the type of power purchase agreements that have left the
government with a huge burden to pay. "The idea is to replace them with
somebody who invests in power and sells it. "So you don't invest in power
generation to hang it on the government to pay you no matter what happens at
the other end," he'd said.

 

LEADERSHIP reports that the removal of the subsidy would see the average
tariff for all electricity consumers in the country rising to N209 per
kilowatt-hour (kWh), the current Band A tariff, from N66/kWh.

 

As of June 2025, the federal government's electricity subsidy obligation
reached N1.186 trillion, which is yet to be cash-backed.

 

As of April 2024, the federal government raised the tariff for Band A
consumers to N225 kWh, much higher than for other bands, which hover around
N66 per kWh. Currently at N209/kWh, the Band A tariff increase, which only
covers 15 per cent of electricity consumers, has done little.

 

The high level of subsidy required to bridge the gap between actual
electricity costs and consumer tariffs further strains government finances.

 

In 2025 alone, the federal government may spend approximately N2.3 trillion
on electricity subsidy, mainly to shield low-income consumers from tariff
shocks.

 

In a chat with LEADERSHIP, NLC's deputy General Secretary, Comrade Chris
Onyeka said, "

 

"How can the federal government come out with such a deceptive statement,
and you journalists are believing in their statements? You journalists are
not helping matters or the poor at all, as you make Nigerians believe in
oppressive and capitalist policies, such as the poor are getting poorer and
the rich are getting richer.

 

By saying they want to remove the subsidy, they indirectly announce their
plan to hike the cost of the electricity tariff. Such an increment will
further impoverish the poor. They milked Nigerians without an efficient
electricity supply and want to hike the tariff again. If electricity is
working, why did they invest billions of our money in using a solar system
in Aso Rock? Isn't it a thing of concern that we exceeded 5000mgt? Rather
than improving on the current level, they want Nigerians to be paying for
darkness and what they are not enjoying. It is the right time for Nigerians
to cry against their anti-people policies that send Nigerians into hardship.

 

"It is right time Nigerians should think of accountability. They are looking
for a way to enrich few hands among them at the detriment of the masses by
trying to hike electricity tariff and are indirectly saying they want to
remove subsidy, they should make Nigerians to know the truth."

 

On his part, the Acting General Secretary of National Union of Electricity
Employees of Nigeria (NUEE) has expressed sadness over the government's
planned removal of electricity subsidy.

 

In a chat with LEADERSHIP, the Acting General Secretary, Comrade Dominic
Igwebike, the union is against it because it is putting more load on the
masses that have been

 

"They are only interested in taking from the people which is against good
governance which required that government should provide the basic needs for
its people. What is government giving back the people. And what is
government planning to use such fund for? The plan is not in any way
accepted by us".

 

Speaking to LEADERSHIP, the acting general secretary of the National Union
of Electricity Employees (NUEE), Comrade Dominic Igwebike, condemned the
move as a burden on the masses. He questioned what benefits the government
intends to return to the people in exchange for the removal of financial
support for power costs. He emphasised that it amounts to "taking from the
people" and runs contrary to the principles of good governance, which
require governments to prioritise the basic needs of their citizens.

 

Igwebike's stance comes amid broader concerns about rising costs and ongoing
struggles in Nigeria's power sector, which has been plagued by erratic
supply and financial instability. The subsidy removal has sparked fears of
higher electricity tariffs that could further strain Nigerian households and
businesses already facing inflationary pressures and economic downturns.

 

Read the original article on Leadership.

 

 

 

Nigeria: How GDP Rebasing Spotlights Growing Non-Oil Sector

The rebasing of Nigeria's Gross Domestic Product (GDP) has brought to the
fore the neglected but growing non-oil sector that is playing a huge role in
the economy.

 

While this has shown that the oil sector has been relegated from being the
major activity shaping the country's economic activity, it indicates that
efforts to wean off the economy are taking a good shape.

 

Recall that the headwind in the global economy in 2016 had hit the oil
sector which greatly affected Nigeria's economy, pushing it into recession.

 

This prompted the previous administration of President Muhammadu Buhari to
implement several measures to promote non-oil exports to safeguard the
country from global shock that affects the stability of oil prices.

 

However, the gains of the success were hidden within the old basket used for
computing the GDP.

 

After the National Bureau of Statistics (NBS) updated the item in the GDP
basket using 2019 as the new base year, the size of the economy swelled to
N372.82trn in 2024, up from N314.02trn in 2023. The change incorporates more
informal and emerging sectors, from digital technology to the creative
industries, offering a clearer picture of Nigeria's economic reality.

 

Statistician General of the Federation, Adeyemi Adeniran, explained that the
rebasing exercise, which now covers data from 2019 to 2023, better reflects
the country's current economic structure.

 

"In nominal terms, Nigeria's economy was estimated at N205.09trn in 2019, up
from the previous base year value by over 41 per cent," Adeniran said.

 

He revealed that total output steadily rose post-2019, reaching N372.82
trillion in 2024. Real GDP growth also rebounded strongly after the
pandemic, rising from -6.96 per cent in 2020 to 4.32 per cent in 2022 and
3.38 per cent in 2024.

 

For the first time, real estate has overtaken oil and gas to become the
third-largest contributor to GDP, behind crop production and trade and
accounts for 10.78 percent of output, compared to oil's 5.85 percent,
according to the report by NBS.

 

The CEO of the Centre for the Promotion of Private Enterprise (CPPE), Muda
Yusuf, said real estate's rise is not just a statistical quirk but reflects
the growing demand for housing, urban infrastructure, and commercial spaces
in a country with one of the world's fastest-growing populations. Government
policy needs to catch up with that reality."

 

Creating a new economic balance

 

The rebased figures show a country steadily moving beyond petroleum
dependence. The oil sector's GDP share has dropped to just 3.97 percent,
while the non-oil economy commands over 96 percent Yet, experts warn, the
dominance of non-oil sectors has not translated into proportionate
government revenue, exposing a structural weakness.

 

In the first quarter of 2025, 37 sectors recorded growth, with standouts
including metal ores (25 percent), financial services (15.3 percent),
transportation (14.1 percent), and ICT (7.4 percent). Oil refining also
expanded by 11.5 percent following new domestic capacity.

 

On the downside, nine sectors contracted, including coal mining
(-22.3percent), livestock (-16.7percent), and textiles (-1.63percent). Three
sectors; air transport, textiles, and coal mining remained in recession.

 

New frontiers

 

Agriculture's GDP share improved from 22.1 percent to 25.8 percent
post-rebasing, while services rose from 50.2 percent to 53.1 percent, driven
by finance, ICT, and trade. But sector growth rates remain uneven:
agriculture grew just 0.7 percent in Q1 2025, and manufacturing only 1.7
percent as the analysis showed.

 

"There's room for optimism in ICT, real estate, and finance," said Chioma
Agwuegbo, a Lagos-based policy analyst who added, "But agriculture and
manufacturing are lagging. If these sectors remain underperforming, the
growth we're celebrating will be uneven and fragile."

 

Finance Minister Wale Edun welcomed the figures as a sign of resilience and
reform progress, saying the new data "provides a better tool for targeted
policymaking" and highlights the contribution of sectors that previously
went undercounted.

 

On his part, Economist, Michael Famoroti pointed out that the rebasing makes
Nigeria's GDP about 30 percent larger than previously estimated and lowers
its debt-to-GDP ratio from 52 percent to about 40 percent While that
strengthens the country's fiscal profile, he warns it could also breed
complacency if structural challenges remain unaddressed.

 

For now, the rebased GDP reshapes Nigeria's standing in Africa, potentially
reclaiming the top spot from South Africa and Egypt in nominal terms. But
for most Nigerians, the headline figures matter little without better jobs,
infrastructure, and living standards.

 

"The rebase tells us our economy is more dynamic than we thought. The
question is whether our policies and politics are dynamic enough to match
it,"Agwuegbo said.

 

Read the original article on Daily Trust.

 

 

 

 

Tunisia: More Than 804,800 Tunisians Have Obtained a Loan From Microfinance
Institutions

Tunis, August 17 — Indicators and available data confirm that the
microfinance sector in Tunisia has gained significant ground among a large
segment of Tunisians, given the difficulty of accessing bank loans,
especially consumer loans. Evidence of this is that more than 804,000
Tunisians have obtained a loan from these institutions.

 

In the first three months of this year, microfinance institutions granted
113,583 loans. Resorting to this type of financing has become a compensatory
mechanism to access credit, which has given microfinance institutions in the
country a broader space to position themselves in the national financial
landscape.

 

Financial analyst Bassam Ennaifer stated in this regard that, in light of
the noticeable decline in non-professional bank loans in Tunisia, "attention
must be paid to the growing demand for microfinance, which now provides
financing for a significant share of Tunisians."

 

He explained that during the first quarter of 2025, the outstanding loan
portfolio of microfinance increased by 33.7 million dinars, noting that part
of the decline in bank loans has been absorbed by the microfinance sector,
even though its interest rates are high.

 

However, it is easier to obtain and comes without the administrative
complications of bank financing.

 

The analyst revealed that more than 804,800 Tunisians have obtained loans
from microfinance institutions, with a total loan portfolio in the sector
valued at 2,596 million dinars.

 

He continued his analysis by noting that the value of loans granted by
microfinance institutions during the first quarter of this year reached
564.9 million dinars, compared to 511.7 million dinars in the first quarter
of 2024.

 

This reflects Tunisians' increasing demand for financing, as banks remain
reluctant to grant loans, particularly consumer loans, he pointed out.

 

He added that in the first three months of this year, microfinance
institutions granted 113,583 loans.

 

The average loan obtained from microfinance institutions reached 4,974
dinars at the end of March 2025, compared to 4,646 dinars in the same period
of the previous year, which, according to the analyst, shows Tunisians'
growing financial needs.

 

Emphasising the role of microfinance as an important mechanism for Tunisians
to access credit, Ennaifer indicated that around 110,000 individuals
obtained a loan during the first quarter of 2025.

 

He revealed that about 13.3% of these individuals received microfinance for
the first time, highlighting the extent to which Tunisians are turning to
microfinance institutions.

 

The analyst stressed that the significant decline in non-professional bank
loans in Tunisia, particularly consumer loans, has largely been absorbed by
microfinance institutions, thanks to the easier access they provide.

 

He concluded by saying that the growth of consumption in Tunisia is mainly
driven by the role of microfinance institutions rather than the banking
sector.

 

Read the original article on Tunis Afrique Presse.

 

 

 

 

East Africa: Govt to Push Private Sector Agenda Ahead of Key EAC Trade
Summits

The Ministry of Foreign Affairs and International Cooperation has endorsed
over 10 policy priorities to be considered during two upcoming regional
meetings.

 

The summits include the Meeting of the Council of Ministers, scheduled from
August 25 to 29 in Arusha, and the East African Business and Investment
Summit and Expo 2025, set to take place from October 16 to 17 2025 in
Nairobi, Kenya.

 

ALSO READ: EABC advocates for harmonized trade negotiations with third
parties

 

Clementine Mukeka, the Permanent Secretary in the Ministry of Foreign
Affairs, stated that the East African Community (EAC) is the most united
trading bloc in Africa stressing that the government is committed to working
with the private sector to boost trade among EAC member countries and
improve citizens' livelihoods.

 

"Last year, intra-EAC trade reached 13%. That is not insignificant--but
still, only 15% of our trade is happening within the region. Just 15%. And
that's only half of what we've set out to achieve. But halfway isn't good
enough--not for our businesses, not for our citizens, and not for the future
we all keep talking about," she said.

 

The EAC is undertaking comprehensive steps to deepen regional integration
and stimulate economic growth through a range of strategic trade and
industrial priorities.

 

Chief among these is the uniform application of the EAC Common External
Tariff (CET) 2022 version and the elimination of non-tariff barriers (NTBs),
both of which aim to streamline cross-border trade.

 

ALSO READ: EABC's Adrian Raphael Njau advocates for stronger EAC market

 

The review of the EAC Rules of Origin (ROO) and the operationalisation of
the EAC Trade Remedies Mechanism are also underway to ensure fair trade
practices.

 

The review should aim at stimulating industrial growth through the promotion
of regional value addition and make the EAC ROO more flexible and simpler to
comply with by producers and manufacturers of the region.

 

EABC has urged Partner States to provide a clear timeline for the
ratification of the Amendment of Article 24(2) of the CU Protocol, including
Article 24 (2) (a), to enable the establishment and operationalization of
the Committee on Trade Remedies.

 

The mechanism will make it easy and cost-effective to address trade-related
disputes such as NTBs related to Rules of Origin, taxes, and administration
restrictions.

 

Further efforts include harmonising domestic tax regimes and standards
across member states, liberalising trade in services, and combating illicit
trade.

 

The EAC also prioritises the free movement of workers and enhanced
engagement with third parties on trade and investment agreements.

 

The implementation of the COMESA-EAC-SADC Tripartite Free Trade Area (TFTA)
Agreement also marks a crucial step towards broader regional economic
integration.

 

ALSO READ: EABC pushes for 35 per cent common external tariff rate

 

Special emphasis is being placed on empowering SMEs, youth, and women in
business, while advancing sustainable trade and economic resilience in
response to climate change through Environmental, Social, and Governance
(ESG) measures.

 

The formulation and execution of a robust industrialisation policy and
strategy remain central to the EAC's long-term vision for inclusive and
sustainable growth.

 

EABC urges Partner States to expedite harmonization of domestic taxes
(excise duties, VAT, Income Taxes & Export taxes).

 

"Partner States should finalize consultations on the minimum and maximum
excise duty rates for non-alcoholic beverages, tobacco & other nicotine
products, and fossil fuels.

 

As they expedite the harmonization of domestic taxes, Partner States should
immediately eliminate all discriminatory fiscal measures, taxes, fees,
levies, and other charges of equivalent effect on EAC-originating goods."

 

The statement added: "Importantly, Partner States should align the
interpretation in National Legislations on "imports and exports with EAC
Community Legal interpretation to avoid treating goods transfer from other
EAC Partner States less favorably than similar or like domestic goods.

 

Imports and exports should mean out of EAC Customs and EAC originating goods
traded with the Region should be considered as transfer."

 

ALSO READ: EABC roots for common approach in regional integration process

 

Dennis Karera, Vice Chairperson of the East African Business Council (EABC),
noted that regional countries must approve reforms to establish a special
committee dedicated to addressing trade disputes promptly. This Committee on
Trade Remedies is expected to help reduce trade barriers and facilitate
smoother trade across the region.

 

Charles Omusana, the EAC Principal Economist, remarked that the EAC's
Customs Union and Common Market are crucial mechanisms for improving the
lives of East Africans by creating better trade and business opportunities.

 

Adrian Raphael Njau, Acting Executive Director of the EABC, commended the
Government of Rwanda for its support of the private sector and its role in
hosting significant trade discussions. He recalled that a previous meeting
in Kigali resulted in a declaration outlining several challenges, including
high export taxes, unfair milk trade regulations, and costly road fees. Some
of these issues have already been addressed, such as the removal of the tax
on hides and skins.

 

He also called upon all EAC member states to fully adopt the Single Customs
Territory system and apply uniform import tax rates throughout the region.

 

Didace Mparirwa, a representative of the agriculture and livestock sector
within Rwanda's Private Sector Federation, said that the meeting would help
identify ways to strengthen Rwanda's trade relations with neighbouring EAC
countries.

 

The two-day ministerial meeting brought together 55 participants from both
government and the private sector to explore strategies for eliminating
trade barriers. Discussions covered topics such as harmonising domestic
taxes (e.g. VAT and income tax), removing unfair charges on regionally
produced goods, ceasing the treatment of intra-regional products as foreign
imports, and updating laws to eliminate non-tariff barriers (NTBs).

 

Dennis Karera further stated that this year's Summit will focus on
strategies to increase trade and investment within East Africa and beyond.
The Summit is regarded as East Africa's premier platform where business
leaders, policymakers, investors, and development partners convene to
discuss trade, investment, and regional cooperation.

 

The 2025 edition will evaluate progress since the 2023 Summit held in
Uganda, address current trade and investment challenges, present new
business opportunities in an evolving global context, and shape regional
policy through formal recommendations.

 

Key global and regional issues will be discussed, including the African
Continental Free Trade Area (AfCFTA), digital transformation and artificial
intelligence (AI), climate change, the removal of intra-EAC trade barriers,
support for small and medium-sized enterprises (SMEs), and efforts to make
cross-border trade simpler and more affordable.

 

Read the original article on New Times.

 

 

 

 

Somalia Launches Danabeysan Digital Payment System to Boost Transparency and
Efficiency

Somalia's Minister of Finance, Biihi Imaan Ige, officially launched the
Danabeysan digital signature system for government payments at a major
ceremony in Mogadishu, signaling a significant modernization of the
country's public financial management.

 

The event brought together senior officials from various ministries and
government agencies, highlighting the importance of the initiative for
Somalia's evolving administrative landscape. The system introduces digital
authorization of payments, reducing reliance on paper-based processes and
increasing operational efficiency across federal institutions.

 

Minister Biihi emphasized that digital signatures will improve both
transparency and accountability, while expediting government payment
procedures.

 

"This system represents a milestone in Somalia's public finance sector. It
ensures secure, fast, and fully auditable transactions," Biihi said during
the launch.

 

Experts say the Danabeysan system will not only simplify financial workflows
but also strengthen institutional integrity, enhance citizen trust in
government operations, and lay the groundwork for future e-governance
initiatives. Officials and stakeholders expect the new platform to become a
central pillar of Somalia's financial modernization efforts.

 

Read the original article on Radio Dalsan.

 

 

 

 

Nigeria: 3rd Mainland Bridge Contract Not Yet Awarded - Govt

Mr Umahi said defects on the 3rd Mainland Bridge and the Carter Bridge were
not new.

 

The federal government says the contract for the reconstruction of the 3rd
Mainland Bridge in Lagos, estimated by Julius Berger to cost N6.3 trillion,
has not been awarded.

 

The Minister of Works, David Umahi, stated this when the Minister of
Information and National Orientation, Mohammed Idris, paid him a courtesy
visit on Saturday in Abakaliki.

 

Mr Umahi said defects on the 3rd Mainland Bridge and the Carter Bridge were
not new, noting that he had been engaging stakeholders on the matter.

 

He explained that the 3rd Mainland Bridge, which is over 50 years old, was
assessed in 2013 and 2019, and that deliberations were held with experts on
how to address identified issues.

 

The minister added that while the Carter Bridge also required
rehabilitation, works on the Eko Bridge were ongoing.

 

"From our findings, to rehabilitate the Carter Bridge could cost us N386
billion, but to do a brand new bridge would be at about N359 billion.

 

"And for the 3rd Mainland Bridge, to repair it will cost us N3.86 trillion,
but to construct a new 3rd Mainland Bridge will cost us N3.6 trillion.

 

"Now, that is the findings we took to the Federal Executive Council (FEC)
Meeting. We did not take it there for contract to be awarded, we only
brought estimated findings as done by Julius Berger Ltd.

 

"Therefore, no contract has been awarded for the reconstruction of 3rd
Mainland Bridge and Carter Bridge. Any information aside this is not
correct.

 

"And we believe strongly that if we expose these findings to more industry
experts or players, they may come with a better solution and a better cost
too.

 

"But the important thing is for FEC to note that we have a problem with the
two bridges; so, nobody has awarded any contract in that regard," Mr Umahi
stressed.

 

He disclosed that the federal government had closed the 3rd Mainland Bridge
to heavy trucks and would also close the Carter Bridge to heavy trucks by
September.

 

According to him, the only bridge now open for the movement of heavy-duty
vehicles from Lagos Island to the Mainland is the Independence Bridge, which
he said had been rectified.

 

Mr Umahi recalled that the Eko Bridge was once completely damaged, but that
rehabilitation works on it were currently ongoing.

 

"Now, for the way forward, FEC approved that there should be an
advertisement for experts in bridge construction to bid with a quotation to
do comprehensive rehabilitation of the two bridges.

 

"We want them to do the investigation, the design, costing, and submit, or
tell us the cost of constructing new ones.

 

"Another option is that we are also opening it to public-private partnership
for the private sector to come and get involved, do the bridges, toll it and
recover their money.

 

"So nobody has awarded contract for the reconstruction of 3rd Mainland
Bridge for N3.6 trillion or contract for the Carter Bridge," Mr Umahi
reiterated.

 

The News Agency of Nigeria (NAN) reports that the three major bridges
connecting Lagos Island to the Mainland are the Carter Bridge, built in
1901; the 3rd Mainland Bridge, whose first phase was commissioned in 1980 by
President Shehu Shagari and completed in 1990 by General Ibrahim Babangida.

 

The third is the Eko Bridge, which was constructed in phases between 1965
and 1975.

 

Read the original article on Premium Times.

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

Cellphone:         +263 71 944 1674 | +27 79 993 5557 

Email:                <mailto:bulls at bullszimbabwe.com>
bulls at bullszimbabwe.com

Website:             <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:                  <http://www.bullszimbabwe.com/blog>
www.bullszimbabwe.com/blog

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

Facebook:           <http://www.facebook.com/BullsBearsZimbabwe>
www.facebook.com/BullsBearsZimbabwe



 

 

 


 

INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


 (c) 2025 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:
<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
5557 | +263 71 944 1674

 


 

 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250818/1e8b2b52/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250818/1e8b2b52/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250818/1e8b2b52/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65552 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250818/1e8b2b52/attachment-0001.obj>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image007.jpg
Type: image/jpeg
Size: 29359 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250818/1e8b2b52/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image008.jpg
Type: image/jpeg
Size: 29321 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250818/1e8b2b52/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image009.jpg
Type: image/jpeg
Size: 29361 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250818/1e8b2b52/attachment-0005.jpg>