Reinventing the ancient Benin economy | The Guardian Nigeria News

Edo modular refinery

The Bight of Benin is metaphorical of the economic exploit of the ancient empire before the greed of Europe vanquished the empire. Their visit and subsequent attack blighted the unequalled economic adventure of the ancient kingdom.

Notwithstanding the European invasion and the epic battle for the economic soul of the empire, the modern Benin City, and, indeed, the entire Edo State, is synonymous with artistic ingenuity.

The creative works in the forms of sculptures, paintings, bronzes and many others are as rich as the history of civilisation, earning it “the Great City of Benin” as far back

Read more

Big Announcements at the 13th U.S-Africa Business Summit | The Guardian Nigeria News

Corporate Council on Africa (CCA)

From July 27 – 29, 2021, the Corporate Council on Africa (CCA) ( hosted the 13th U.S.-Africa Business Summit ( The Summit is CCA’s flagship event viewed as essential by those doing business in Africa. The 2021 Summit featured a stellar line up of African and U.S. government and private sector leaders as part of the program. CCA was delighted to provide more than 1200 participants with the access, connections, and insights on critical issues and policies impacting the U.S.-Africa economic partnership – the Summit theme.

The Summit – held virtually – included 5 plenaries

Read more

Cargo insurance premiums spike over untidy road access, seaport operations | The Guardian Nigeria News

Trucks parked on the road side waiting to get access into Tincan port in Apapa, Lagos. (Photo by Benson Ibeabuchi / AFP)

• Insurers groan under huge claims obligation
Beyond additional costs incurred by Nigerian importers and exporters due to safety concerns in the Gulf of Guinea (GoG), operational and infrastructural challenges at the nation’s ports and access roads have continued to push insurance firms underwriting cargoes to the edge.

These have made them adjust clauses, and in many cases, spike the cost of cargo insurance by the average number of days delays occur.

The sum insured for specific transit

Read more

Choose a top 20 UK University in 2022 for your Business education (Guardian Rankings 2021/22)

Prof Bill Russell, an Economist and Associate Dean for International in the School of Business, at the University of Dundee, Scotland UK, shares his view of business education and explains why starting your education in January 2022 might be the right thing to do.

“Businesses of all sizes and in all industries have been affected in some way during 2020 and 2021 as a direct result of the Covid-19 pandemic. When we move into 2022, and beyond, the way businesses operate internationally, will change, possibly in some ways forever.

“Although this will prove challenging for many, it will also offer

Read more

Analysts worry about transparency in reserves’ management | The Guardian Nigeria News

Financial analysts at EFG Hermes Holdings have said the reason behind Nigeria’s falling reserves is still not straightforward considering limited transparency of reserves and balance of payments numbers.

Indeed, the analysts highlighted four main factors that dictate the disappointing movement of reserves. In its latest report, titled ‘More pressure on NGN; adjustment edging closer’, EFG Hermes Holdings noted that Nigeria has been exporting less oil in the past year given its commitment to OPEC+ production cuts.

The report stated that crude oil export volumes are down by 20 per cent on average in the year to June, reducing the upside

Read more

Absa and SAP have joined forces on a Pan African Finance Transformation | The Guardian Nigeria News

NAIROBI, Kenya, August 10, 2021 -/African Media Agency(AMA)/- Absa Group has joined forces with SAP for a core finance transformation. A multi country digitisation journey has started with the Absa Groups’ Kenyan subsidiary S/4 HANA implementation being the first country to go live with SAP S/4 HANA

The Kenyan implementation of S/4 HANA was launched on Amazon Web Service Hyperscaler, an African first for SAP and a Tier 1 bank in the African banking industry.

“Using best of breed technology and cloud, we are transforming our Finance business with highly integrated systems, automation and consolidation of our financial data and

Read more