Category: Economy

Senate approves N574.5b supplementary budget
December 2, 2015 No Responses

Senate approves N574.5b supplementary budget

The Senate on Tuesday   passed N574,532,726,857 billion as the 2015 supplementary budget. Under the arrangement, it is N108,895,800,000 billion higher than the N465,636,926,857 billion proposed by President Muhammadu Buhari to the National Assembly for approval two weeks ago. ‎ According...
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Dangote Flour changes name
November 20, 2015 No Responses

Dangote Flour changes name

The management of Dangote Flour plc has notified the Nigerian Stock Exchange (NSE) of the company’s change of name. Company Secretary and Legal Adviser of Dangote Flour Plc, Aisha Ladi Isa explained that company’s new name is Tiger Branded Consumer...
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FG approves disbursement of $150m NNLG fund
November 20, 2015 No Responses

FG approves disbursement of $150m NNLG fund

The National Economic Council (NEC) has approved the sharing of $150 million among the three tiers of government.  According to the council, the money is part of the $400 million dividends paid by the Nigerian Liquefied Natural Gas. Vice President...
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Buhari seeks extra N466b for subsidy, others
November 19, 2015 No Responses

Buhari seeks extra N466b for subsidy, others

PRESIDENT Muhammadu Buhari  has sent a letter to the National Assembly seeking approval for N465.64 billion as supplementary budget for the 2015 fiscal year to among others, pay petroleum subsidy claims amounting to N413, 363, 134, 505. In the letter...
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Buhari faults N1tr food import
November 18, 2015 No Responses

Buhari faults N1tr food import

President Muhammadu Buhari has described unsustainable the huge amount of resources spent annually on food imports. According to Buhari, who spoke at Birnin Kebbi, Kebbi State during the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Programme and the t...
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NCC task consumers on poor service delivery
November 2, 2015 No Responses

NCC task consumers on poor service delivery

THE Nigerian Communications Commission (NCC) has challenged consumers to report poor quality of service to the commission. NCC Director in charge of Consumers Affairs Bureau, Abuja,  Alhaji Abdullah Maikano made the appeal in Offa, the headquarters of Offa lo...
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NCC explains MTN sanction
October 30, 2015 No Responses

NCC explains MTN sanction

 The National Communications Commission (NCC) has described as untrue reports in some quarters that it singled out MTN Nigeria for penalty over non-compliance with the deadline to deactivate all subscribers’ unregistered SIM cards on its network. The commi...
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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 Ambas...
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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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