Category: Economy

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 development if...
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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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FG to raise N50b in 2020, 2024 bonds
December 3, 2015 No Responses

FG to raise N50b in 2020, 2024 bonds

The Federal Government has concluded  plans to raise N50 billion in local currency denominated bonds maturing in February 2020 and March 2024 at its last debt auction of the year on Dec. 9. According to the  Debt Management Office (DMO),...
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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 appro...
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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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