Economy – Page 142 – City Business News

March 5, 2024 No Responses

NADDC Boss Harps On CNG Benefits, Agenda

Compressed Natural Gas (CNG) will create more jobs and wealth for Nigerians, Director-General, National Automotive Design and Development Council (NADDC), My Joseph Osanipin, reiterated on Monday. The NADDC DG stated this at the Critique/Validation Workshop for the recently developed National Occupational...

March 5, 2024 No Responses

Obaseki Faults CBN’s New Monetary Policy

The Governor of Edo State, Godwin Obaseki, has faulted the Central Bank of Nigeria for raising the Monetary Policy Rate by 22.75 per cent. Obaseki contended that the decision is not the answer to the ongoing economic challenges in the...

March 4, 2024 No Responses

Nigeria Signs Multi-Sectoral Agreements With Qatar

President Bola Tinubu on Sunday witnessed the signing of agreements between Nigeria and Qatar in various sectors of the economy. Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, in a statement, said the signing, which...

March 4, 2024 No Responses

AfDB Supports Nigeria With $134 Million To Cultivate Rice, Maize, Cassava, Soyabeans

The African Development Bank (AfDB) is supporting Nigeria in the cultivation of rice, maize, cassava and soyabeans to boost food production. The bank is providing $134 million to achieve this, it president, Dr Akinwunmi Adesina, said on Saturday after visiting...

March 3, 2024 No Responses

Experts Propose Advancing AfCFTA Implementation As Theme Of Next Conference Of Ministers

The next Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development (COM2025) will be held in Ethiopia in March 2025. A statement issued on Sunday explained that at the closing of the Experts Segment of...

March 3, 2024 No Responses

FG Approves 90-Day Window For Payment Of Duty On Improperly Imported Vehicles

To enhance compliance and streamline import processes, the Nigeria Customs Service (NCS), under the directive of the Minister of Finance and Coordinating Minister of the Economy, has announced a 90-day window for regularizing import duties on specific ca...

March 3, 2024 No Responses

FG Pledges Mineral Data To Aid Qattari Businessmen

Comprehensive data on the pattern and quantity of energy mineral Lithium are available at the Nigerian Geological Survey Agency for businesses interested in establishing lithium companies in Nigeria.Solid Minerals Development Minister Dr. Oladele Alake made th...

March 3, 2024 No Responses

Port Harcourt-Aba Train Services Begin Operation In March

The train services on Port Harcourt to Aba route will start operation by the end of March, 2024. The Port Harcourt-Aba rail project is part of the larger Port Harcourt-Maiduguri railroad project initiated by President Muhammadu Buhari’s administration. Mr Fi...

March 2, 2024 No Responses

NLNG Harps On Critical Role Of Gas To Africa’s Industrialisation

There is real demand for clean energy such as gas in Africa to trigger a massive take-off for industrialization with a growing young population, abundant natural resources, and emerging internal markets, the Managing Director and Chief Executive Officer, Niger...

March 2, 2024 No Responses

MTN Nigeria Records N740b Forex Losses

MTN Nigeria Plc has reported a loss before tax of N177.8 billion compared to a pre-tax profit of N518.8 billion in 2023. The company attributed the losses to a massive foreign currency loss of N740 billion up from N81 billion reported...

March 2, 2024 No Responses

Reps Invites NNPCL, NPA, NIMASA, FAAN, Others Over Concessions

The House of Representatives has invited Chief Executive Officers of the Nigerian National Petroleum Company (NNPC) Ltd and the Nigerian Port Authority (NPA) to discuss the oversight of Public-Private Partnerships (PPPs) and concessions dating back to 1999.&nb...

March 2, 2024 No Responses

NLNG Seeks Increased LPG Awareness, Explains 493,000 Metric Tons For Nigerian market

Nigeria LNG Limited (NLNG) has called for increased consumer awareness, especially in rural areas, on the use of Liquified Petroleum Gas (LPG) to drive up utilisation and reduce associated risks from using biomass for cooking. Speaking at the 7th Nigeria...

March 1, 2024 No Responses

CBN Revokes Operational Licenses Of 4,173 BDCs

The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bankand Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised OperationalGuidelines for Bureaux De Change 2015, has revoked the licenses of...

March 1, 2024 No Responses

Owerri Customs Impounds N5.35b Contrabands In 2023

Between January and December, 2023, the Nigerian Customs Service (NCS), Federal Operations Unit (FOU), Zone C, Owerri, recovered N5.5billion from smugglers and fraudulent importers. A statement on Friday explained that the unit intercepted contraband from smug...