Economy – Page 74 – City Business News

January 30, 2025 No Responses

Nigeria Secures $1.1b AfDB Loan

The Nigerian Government has secured a $1.1 billion loan from the African Development Bank (AfDB) for the provision of electricity for 5 million people by the end of 2026. According to Bayo Onanuga, Special Adviser to the President, (Information & Strategy), ...

January 30, 2025 No Responses

EFCC, NGX RegCo To Strengthen Partnership

NGX Regulation Limited (NGX RegCo), the independent regulation subsidiary of Nigerian Exchange Group, and the Economic and Financial Crimes Commission (EFCC) have called for enhanced partnership to enhance market surveillance and combat financial crimes in Nig...

January 29, 2025 No Responses

IGR: Edo Inland Revenue Service Lauds NNPC

The Executive Chairman, Edo State Internal Revenue Service (EIRS,) Hon. Oladele Bankole-Balogun has commended the leadership of the Nigerian National Petroleum Corporation (NNPC) E&P Limited for their contributions to the Internally Generated Revenue (IGR)...

January 29, 2025 No Responses

FG Generates ₦2.4b From Marriage Contracts In 2024

The Federal Government generated about N2.4 billion from marriage contracts via its marriage registry in 2024. The Minister of Interior, Olubunmi Tunji-Ojo, who disclosed this on Tuesday explained that the Federal Government planned to further strengthen...

January 29, 2025 No Responses

CBN To Commence Payment Of Forex Backlog

The Governor of the Central Bank, Olayemi Cardoso has disclosed that the forensic verification to clear all pending foreign exchange backlogs is now completed and payments will commence soon. Speaking during the launch of the foreign exchange code, Cardoso lam...

January 29, 2025 No Responses

DMO: Tinubu Inherited N87.38tri Debt

President Bola Tinubu’s administration inherited a total of N87.38 trillion debt upon assumption of office on May 29, 2023, the Debt Management Office (DMO) has disclosed. The DMO revealed the above in a bid to clarify recent media reports claimi...

January 29, 2025 No Responses

Nigeria Pledges 50% Renewable Energy

President Bola Tinubu has reiterated Nigeria’s commitment to achieving universal energy access by 2030, emphasizing the government’s target of increasing renewable energy to constitute 50% of the national energy mix. The President disclosed this during his...

January 28, 2025 No Responses

FG Targets 25% Port Operations Cost Reduction with National Single Window

The Federal Government has announced plans to implement the National Single Window (NSW) in its bid to reduce the cost of doing business in Nigerian ports by at least 25 per cent.Indeed, as highlighted by the World Bank, the cost...

January 28, 2025 No Responses

Lanre Shittu Motors Expands CNG Market Share

Lanre Shittu Motors has unveiled plans to add more value to the auto commercial segment with its newly unveiled LSM brand .Managing Director of thecompany, Mr Taiwo Shittu, says the auto firm is pushing its LSM brand hard to dominate...

January 28, 2025 No Responses

Kano Targets 63,360 Garment Industry Jobs

The Governor of Kano State, Alhaji Abba Kabir Yusuf, has announced plans to create 63,360 jobs for youths in the garment industry annually, starting from 2025. Director General of Media and Publicity, Kano Government House, Sanusi Bature Dawakin Tofa, explaine...

January 27, 2025 No Responses

Tin-Can Customs Reiterates Seamless Cargo Clearance

Ahead of the commencement of the Unified Customs Management System (UCMS), otherwise known as B’Odogwu, Tin-Can Customs Command of the Nigeria Customs Service (NCS) has reiterated commitment to seamless operations.Speaking on Monday during the World Customs ...

January 27, 2025 No Responses

Do Not Invest In Risevest, Stecs Cooperative Societies, SEC Warns

The Securities and Exchange Commission (SEC) has issued a warning to the public, advising against engaging in any investment-related transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Limited and Stecs (Alausa) Multipurpose Cooperati...

January 27, 2025 No Responses

Dana Motors Unveils More EVs,CNG Vehicles

As part of its commitment to reducing carbon emissions and mitigating the impact of climate change, Dana Motors Limited has introduced more electric vehicles (EVs) and compressed natural gas (CNG) cars and buses to the Nigerian market. “We are proud...

January 25, 2025 No Responses

Edo Election Petitions Tribunal Relocates To Abuja

The Edo State Governorship Election Petitions Tribunal has relocated from Benin City to the Federal capital, Abuja.In a notice dated January 24, 2025, and signed by the Tribunal Secretary, Mu’azu Ibrahim Bagudu, parties to the case were informed of the...