Category: Economy

FG rejects Naira devaluation
October 30, 2015 No Responses

FG rejects Naira devaluation

The Vice President, Prof Yemi Osinbajo has  ruled out the possibility of devaluing the naira, explaining that it was not an appropriate option in the current economic realities. Osinbajo reiterated the government’s position while receiving the Italian Ambassador in Nigeria,...
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NLC faults Sanusi over calls for naira’s devaluation
October 29, 2015 No Responses

NLC faults Sanusi over calls for naira’s devaluation

The National Headquarters of  Nigeria Labour Congress (NLC) has criticized  Emir of Kano, Mallam Sanusi Lamido  Sanusi for his calls for  naira devaluation and fuel subsidy.In a statement yesterday, the central labour body described the calls as “anti-pe...
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Dangote Cement declares N365.5b turnover in Q3
October 28, 2015 No Responses

Dangote Cement declares N365.5b turnover in Q3

FOR the nine month ended September 30, 2015, Dangote  Cement Plc has declared 17.81 per cent growth in turnover to 365.54 billion. Also, sales from Nigeria contributed 39 per cent in the third quarter turnover, which, according to Chief Executive...
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Dangote Cement to Generate Jobs in Cameroon
September 4, 2015 No Responses

Dangote Cement to Generate Jobs in Cameroon

The Managing Director of Dangote Group, Onne Vander Weijde, has declared the preparedness of the company to create  about 150 to 300 jobs in Cameroon. In an interview with CNBC, he said: “Thousands of jobs are being created [indirectly] through...
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FG reveals Buhari, Osinbajo assets
September 4, 2015 No Responses

FG reveals Buhari, Osinbajo assets

The Federal Government has disclosed details of  the assets of President Muhammadu Buhari and Vice President Yemi Osinbajo, as declared to the Code of Conduct Bureau. A statement issued by Senior Special Assistant to the President (Media and Publicity), Garba...
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Dangote cement targets 100 tonnes by 2020
August 31, 2015 No Responses

Dangote cement targets 100 tonnes by 2020

THE President of Dangote Group, Aliko Dangote has  announced plans to increase his cement plants’ capacity to 100 million tonnes by 2020. Dangote explained that  Africa needs to deliberately improve its per capita consumption of cement in order to aid...
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FG puts food imports under scrutiny
August 31, 2015 No Responses

FG puts food imports under scrutiny

IMPORT policy of staple food such as rice, wheat and fish is to be reviewed by the Federal Government as part of measure to ensure self-sufficiency in food production. The Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Mr....
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‘$18.5 b Centenary City Project to create 250,000 jobs’
August 29, 2015 No Responses

‘$18.5 b Centenary City Project to create 250,000 jobs’

CITING skill acquisition, job creation and economic development, President Muhammadu Buhari has backed the $18.5 billion Centenary City Project. Recently, Buhari summoned the Governing Board of the Project, chaired by the former Head of State, Gen. Abdulsalami...
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FIRS pledges to boosts tax revenue
August 26, 2015 No Responses

FIRS pledges to boosts tax revenue

THE Federal Inland Revenue Service (FIRS) has pledged to raise the nation’s tax revenue. Speaking in Abuja on assumption of office, the Acting Chairman, Mr  Babatunde Fowler said the agency would work with all relevant stakeholders. A statement issued by...
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Flour Mills to merge subsidiaries
August 14, 2015 No Responses

Flour Mills to merge subsidiaries

THE management of Flour Mills of Nigeria Plc (FMN) has announced plan to conduct a restructuring by merging five of its subsidiaries with its holding company under a scheme of External Restructuring. According to the Group Managing Director, Flour Mills,...
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At NSE, Berger paints pledges to lift shareholders returns
August 12, 2015 No Responses

At NSE, Berger paints pledges to lift shareholders returns

THE Managing Director and Chief Executive Officer of the Berger Paints Nigeria Plc, Mr. Peter Folikwe has pledged to lift shareholders returns.Speaking while addressing the management of the Nigerian Stock Exchange (NSE) during a courtesy visit, he said the co...
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Ministry under scrutiny over alleged diversion of N119b railway fund
August 11, 2015 No Responses

Ministry under scrutiny over alleged diversion of N119b railway fund

President Muhammadu Buhari has queried the Ministry of Finance over alleged diversion of N119billion  foreign loans secured to expand and develop rail projects. The loans were secured by the former administration of  President Goodluck Jonathan. Buhari wan...
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Buhari orders reduction of expenditure
August 4, 2015 No Responses

Buhari orders reduction of expenditure

President Muhammadu Buhari Monday in Abuja ordered the National Planning Commission (NPC) to go back to the drawing board and produce the framework for a 2016 national budget that will reduce recurrent expenditure and prioritize developmental projects. Preside...
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Dangote Cement declares N121.8b in six months
August 3, 2015 No Responses

Dangote Cement declares N121.8b in six months

DANGOTE Cement Plc has declared Profit After Tax (PAT) of N121.808 billion in the six-month period ended June 30, 2015, amounting to a 21.65 per cent increase over the N95.440 billion recorded in the same period in 2014. Detail of...
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