The Non-Interest Financial Institution of Nigeria (NIFIAN) recently hosted its 3rd webinar with the theme "Transformational Development through Non-Interest Finance". Non-interest finance aims to align with economic development and social welfare across the globe. Non-interest finance in Nigeria has improved social welfare and financial inclusion.
In the first 10 months of 2021, a plethora of foreign and local investors have invested a combined sum of N412 billion (bn) ($992 million) across 35 Nigerian startups. Similarly, Google has pledged to invest $1bn in Africa over the next five years aimed at promoting digital transformation and innovation across the continent.
OPEC and its allies kept to their current output expansion plan, despite demand concerns following the emergence of the new Covid-19 variant (Omicron). The current plan involves ramping up output by 400,000bpd each month from August through 2022 until pre-pandemic pumping levels are attained as the alliance attempts to gradually reverse last year's record supply cuts of roughly 10 million barrels per day.