Economy Archives — Page 53 of 185

August 18, 2023 No Responses

FG Approves 5b Palliative For Each State, FCT

The Federal Government has approved N5billion for each state and the Federal Capital Territory (FCT) to procure food items for distribution to the poor in their respective states. Governor Babagana Zulum of Borno State disclosed this at the Presidential Villa,...

August 18, 2023 No Responses

Transcorp Acquires 60% Stake In Abuja Disco

As part of measures to further consolidates its position and investments in the Nigerian power sector, Tony Elumelu-led Nigerian conglomerate, Transcorp Group, has successfully acquired a 60-per cent stake in the Abuja Electricity Distribution Company (AEDC), ...

August 18, 2023 No Responses

GOCOP To Hold 2023 Annual Conference In Abuja

The Guild of Corporate Online Publishers (GOCOP) has announced that its 2023 Annual Conference will be held in Abuja, Nigeria’s Federal Capital Territory. According to a press statement signed by Danlami Nmodu, mni and Olumide Iyanda, Chairman and Secret...

August 18, 2023 No Responses

Stakeholders To Brainstorm On Digital Infrastructure At FICAN Conference

In view of the challenges that emerged from the electronic payment system in the first quarter of 2023, stakeholders are set to provide solutions in line with Nigeria’s Payment System Vision (PSV) 2025.The Central Bank of Nigeria (CBN) in December...

August 17, 2023 No Responses

Tinubu’s Ministers, Portfolios

President Bola Tinubu, on Wednesday, assigned portfolios to 46 Ministers designate cleared recently by the Senate. The list, released in a statement included former Rivers State governor Nyesom Wike as Minister of Federal Capital Territory (FCT) and Festu...

August 16, 2023 No Responses

Nigeria Denies fresh Agenda To Reintroduce Fuel Subsidy

President Bola Tinubu has no plans to reintroduce any form of fuel subsidy or reverse the deregulation policy, the Federal Government declared on Tuesday. The clarification is contained in a tweet issued by the Senior Special Assistant to the President.....

August 15, 2023 No Responses

Firm Unveils Ultra-Modern Showroom

Carloha Nigeria, provider of luxury automobiles has announced the opening of its new ultra-modern showroom at The Palms in Lekki, Lagos State. A statement sent to City Business News explained that “the state-of-the-art facility will serve as a showcase for.....

August 15, 2023 No Responses

NGX, CIS, ASHON Partner MOFI On Market Development, Listings

Nigerian Exchange Limited (NGX), Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria (ASHON), have demonstrated their willingness to collaborate with the Federal Government through the Ministry of Finance Incorporate...

August 15, 2023 No Responses

CBN: New FX Policy Will Lead To Losses For Speculators

The acting Governor of the Central Bank of Nigeria (CBN) Fola Shonubi, on Monday warned speculators of potential losses as they implement a new policy to stabilize the exchange rate regime. Shonubi explained that the CBN has come up with...

August 15, 2023 No Responses

Shell Resumes Exports At Forcados Terminal

Nigeria’s crude oil export is set to rise as Shell Petroleum Development Company (SPDC) has announced that exports of Nigeria’s Forcados grade of crude oil have resumed. Shell spokesperson told Reuters on Monday that the loading had resumed roughly a...

August 14, 2023 No Responses

Oil Prices Drop Amid Concerns Over China’s Economy

Oil prices eased on Monday as concerns about China’s faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. Reuters report that Brent crude futures fell 73 cents, or 0.84%,...

August 14, 2023 No Responses

NCAA Threatens Sanction Over Inappropriate Insurance Cover

The Nigeria Civil Aviation Authority (NCAA) has threatened to sanction airlines and allied aviation services that violate the Nigerian Civil Aviation Regulations (Nig. CARs) 2022 on insurance cover for their equipment. A statement issued on Sunday by the...

August 13, 2023 No Responses

HMM Orders Four Multi-Purpose Heavy-Lift Ships

South Korea’s flagship carrier HMM has signed a new shipbuilding order with China State Shipbuilding Corporation’s subsidiary Huangpu Wenchong for four 38,000-ton multi-purpose heavy-lift ships. Designed by the Shanghai Merchant Ship Design and Research In...

August 13, 2023 No Responses

Obaseki Reiterates Support For Edo Youth

The Edo State Governor, Mr Godwin Obaseki, has pledged to continue to work closely with the youths in the State for its development, growth and progress. Obaseki gave the assurance when he and his wife, Betsy, were conferred as grand...