Category: Economy

Lagos targets N30b monthly revenue
July 25, 2016 No Responses

Lagos targets N30b monthly revenue

 (NAN) The Lagos State Government on Sunday said it will reduce dependence on federal allocation by increasing its Internally Generated Revenue (IGR) to a monthly target of N30 billion in 2017. It also said that it would increase the IGR...
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LCCI partners German counterpart on trade, investment
July 24, 2016 No Responses

LCCI partners German counterpart on trade, investment

By Moses Ebosele –  The Lagos Chamber of Commerce and Industry (LCCI) has signed a Memorandum of Understanding (MOU) with Delegation of German Industry and Commerce in Nigeria (DGIC) as part of measures to boost trade, investment and knowledge transfer....
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Nigeria in recession, minister admits
July 22, 2016 No Responses

Nigeria in recession, minister admits

The Minister of Finance, Mrs Kemi Adeosun, has admitted that Nigeria’s economy is going through a recession. Speaking during plenary session at the Senate, the minister explained that the Federal Government is aware of the sufferings the recession may have.....
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Lafarge records N28billion loss in Q2
July 21, 2016 No Responses

Lafarge records N28billion loss in Q2

By Moses Ebosele –     For the second quarter ended June 2016, Lafarge Africa Plc has recorded a pre-tax loss of N28billion.  In its report to the Nigerian Stock Exchange (NSE) yesterday, the company attributed the loss to dwindling foreign...
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NSE partners Dangote Cement on price information scheme
July 21, 2016 No Responses

NSE partners Dangote Cement on price information scheme

By Moses Ebosele –    The Nigerian Stock Exchange (NSE) has entered into a contract to provide Dangote Cement Plc its Issuers Share Price Information service.  The Issuers Share Price Information is an offering that enables companies listed on the...
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Expert cautions against mass retrenchment
July 20, 2016 No Responses

Expert cautions against mass retrenchment

By Moses Ebosele –    AN economist, Matthew R. Otoide has challenged the Federal Government to ‘do everything within its power’ to stop ongoing retrenchment across the country.  In a chat with City BusinessNews, Otoide explained that the developme...
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Anxiety as inflation hits 16.5 per cent
July 19, 2016 No Responses

Anxiety as inflation hits 16.5 per cent

By Moses Ebosele –    Economic challenges confronting Nigeria assumes more disturbing dimensions as the Consumer Price Index (CPI) increased to its highest point of 16.5 per cent since 2005. The report released by the National Bureau of Statistics (NBS...
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Presidency pledges full complince with fiscal responsibility act
July 19, 2016 No Responses

Presidency pledges full complince with fiscal responsibility act

The Federal Government has reiterated its resolve to fully comply with the provisions of the Fiscal Responsibility Act and other extant laws as they relate to the submission of budget proposals to the National Assembly.   Presidential spokesman, Garba Shehu.....
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Aisha Buhari, Osinbajo, Awolowo, Elumelu, seek support for women entrepreneur
July 18, 2016 No Responses

Aisha Buhari, Osinbajo, Awolowo, Elumelu, seek support for women entrepreneur

Leading African businessman and philanthropist, Tony O. Elumelu CON joined recently joined the First Lady of Nigeria, Mrs. Aisha Buhari, wife of the Vice President, Mrs. Dolapo Osinbajo, Nigerian Export Promotion Council (NEPC) Chief Executive Officer, Segun A...
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Nigeria’s economy may shrink this year, says IMF
July 12, 2016 No Responses

Nigeria’s economy may shrink this year, says IMF

The International Monetary Fund (IMF) has predicted that Nigeria’s economy will most likely contract this year as energy shortages and the delayed budget weigh on output.   The IMF Country Representative in Nigeria, Gene Leon, said:“I think there is a...
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Customs Zone ‘C’ command impounds 90 vehicles, 2,758 bags of rice, others
July 11, 2016 No Responses

Customs Zone ‘C’ command impounds 90 vehicles, 2,758 bags of rice, others

By Moses Ebosele   Between January and June, this year, the Federal Operations Unit (FOU) of Nigeria Customs Service (NCS), Zone ‘C’, Owerri, impounded 169 contrabands worth N1.3billion. Among the items include 90 vehicles; 2,758 bags of  rice; 4,160 pie...
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LCCI proposes dialogue session on economic integration in West Africa
July 9, 2016 No Responses

LCCI proposes dialogue session on economic integration in West Africa

The Lagos Chamber of Commerce and Industry (LCCI) has concluded plans to  hold a dialogue session on challenges of economic integration in West Africa. According to LCCI, the proposed event is aimed at examining the current status of the sub-region’s...
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Reps insist on compulsory listing of telecomms, oil & gas firms
July 8, 2016 No Responses

Reps insist on compulsory listing of telecomms, oil & gas firms

The Speaker, House of Representatives, Mr Yakubu Dogara  has reiterated the  commitment of lawmakers to pass laws to compel multinational oil and gas companies as well as telecommunication firms doing business in Nigeria to list their shares on the floor...
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Govt insists on use of technology for development
December 3, 2015 No Responses

Govt insists on use of technology for development

President Muhammadu Buhari’s administration is interested in using technology to fast track the country’s growth and development,  Vice President Yemi Osinbajo has said Speaking while signing a Memorandum of Understanding (MoU) between the Federal Governm...
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