Economy Archives — City Business News

January 31, 2023 No Responses

INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA

INEOS Automotive has named Coscharis Motors as its official retail partner in Nigeria. A statement sent to City Business News explained that Nigeria is now the sixth market in Sub-Sahara Africa to join the INEOS Automotive brand, following South Africa, Kenya,...

January 30, 2023 No Responses

Reps Minority Caucus Lauds CBN For Extending Deadline On Old Notes

The House of Representatives Minority Caucus has commended the Central Bank of Nigeria (CBN) for extending the deadline for swapping of the old naira notes.A statement issued by Rep. Ndudi Elumelu (PDP-Delta), the House Minority Leader on Sunday described the....

January 25, 2023 No Responses

Maersk, MSC Terminate Alliance

Container shipping giants, MSC Mediterranean Shipping Company (MSC) and Maersk A/S, an entity under A.P. Moller – Maersk, have agreed to terminate the 2M alliance, effective in January 2025. 2M is a container shipping line vessel sharing agr...

January 25, 2023 No Responses

NIMASA Photo News

January 25, 2023 No Responses

Union Bank Save & Win Palli Promo Grand finale Holds Jan 27

Following a six-month successful run, the second edition of Union Bank’s Save & Win Palli Promo is finally coming to an exciting conclusion.A statement sent to City Business News explained that the grand finale event, which is set to hold...

January 24, 2023 No Responses

CBN Raises Interest Rate To 17.5%

Against projections by some experts, the Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) has increased the monetary policy rate by 100 basis points to 17.5 per cent. This is contained in a communiqué issued at the end...

January 24, 2023 No Responses

PTML Customs Command Generates N229.5b In 2022

Between January and December, 2022, the Nigeria Customs Service (NCS), Ports and Terminal Multiservice Ltd. (PTML) Command generated N229.5 billion. The Customs Area Controller PTML Command, Suleiman Bomai said this at a media conference on Tuesday in La...

January 24, 2023 No Responses

Edo Refinery Begins Production

Edo State Government-backed Edo Modular Refinery has commenced production at its 6,000bpd plant in Ologbo, Ikpoba Okha Local Government Area. A statement sent to City Business News on Tuesday explained that the facility with its feedstock can produce 50 ...

January 24, 2023 No Responses

Edo, Port of Antwerp, Seal Benin River Port Partnership

The Edo State Government has concluded plans with the Port of Antwerp from Belgium as part of measures to finalize the Benin River Ports project. This was gathered from a meeting of the Benin River Port (BRP) Project Committee with...

January 24, 2023 No Responses

Emefiele: Stamp Duty Revenue Is N370b Not N89trillion

The total revenue collected as stamp duty in six years between 2016 and 2022 is N370,686 billion, the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, disclosed on Tuesday. A House of Representatives member, Alhaji Muhammed Kazaure, ...

January 24, 2023 No Responses

Stockbrokers Project Nigeria’s Economic Growth In 2023

Stockbrokers have assured the investing public that the economy has strong potential to bounce back this year. They said this at an event organised by Chartered Institute of Stockbrokers (CIS) on “The Nigerian Economic Review of 2022 and Outlook ...

January 24, 2023 No Responses

Photo News

January 19, 2023 No Responses

FirstBank To Hold 2023 Economic Outlook Webinar

First Bank of Nigeria is to hold its 2023 Nigeria Economic Outlook webinar to deliberate on national and global trends that will shape economic landscape in the new fiscal year. The Group Head, Marketing and Corporate Communications of FirstBank, Mrs...

January 18, 2023 No Responses

FG, States, Local Councils Share N990.189b For Dec 2022

The Federation Account Allocation Committee (FAAC) has shared N990.189 billion to the three tiers of government for the month of December 2022. This is contained in a statement issued by Mr Phil Abiamuwe-Mowete, Director (Information/Press), Ministry of...