Data from the National Bureau of Statistics (NBS), has shown that households in Nigeria spent a total of N2.02tn on fuel and electricity in 2019. The NBS said in a new report on consumption expenditure pattern that household expenditure on fuel/light accounted for 11.57 per cent of the total non-food consumption expenditure in 2019. Households […]
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The governor of Cross River state, Ben Ayade, has asked President Muhammadu Buhari to lift the ban on domestic flights. According to the governor, lifting the ban is necessary as the economic loss being incurred is be too much for the country to bear. On May 6, the federal government imposed an additional four-week ban […]
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Dr. Kingsley obiora has taken over as the Chairman of the Board of Directors of the Nigerian Export-Import Bank (NEXIM). Obiora replaces Dr. Joseph Nnanna, who retired from NEXIM Board in February, 2020. With this appointment, Dr. Obiora will provide leadership to a multidisciplinary team of professionals that constitute the Board of NEXIM, towards ensuring […]
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The novel pandemic has shook countries to their very base. Claiming lives and means of livelihood, crashing economies and bringing businesses to slow screeching halts. Governments of countries have frantically employed scatter-gun approach in a divine bid to push back, salvage its existence and economy from cosmic moribund and annihilation. Africa as a continent was […]
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Pan African Financial institution, United Bank for Africa (UBA) Plc has again given its loyal customers reason to cheer as it rewarded 100 loyal customers with N100,000 each in the UBA Bumper account draw. The draw, which took place at the UBA Head office on Tuesday, was held via the Facebook platform in strict compliance with […]
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President Muhammadu Buhari of Nigeria has approved waiver import duty for medical equipment and supplies in order to “strengthen health infrastructure” in response to the #COVID19 pandemic. The waiver was announced in a tweet on Tuesday by Tolu Ogunlesi, special assistant to the president on digital and new media. This joins the list of fiscal […]
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The United States Treasury has announced that its borrowing will reach a record 3 trillion dollars in the current quarter, as the coronavirus battered the economy and government spending increased, including through massive stimulus programmes. Treasury also noted a change in tax revenue, in part because it is offering deferrals. Last year, the department borrowed […]
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The Central Bank of Nigeria (CBN) has ordered all banks not to retrench any of its workers. A statement from the apex bank signed by Mr. Isaac Okorafor Director, Corporate Communications said the CBN, Bankers’ Committee both decided to suspend lay-offs in banks. Access Bank has been trending in the media after an alleged video […]
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Shareholders of Transnational Corporation of Nigeria Plc (Transcorp) have congratulated the Board and management for the resilient performance achieved in 2019, despite the challenging environment. They welcomed the diversified earnings provided by the Group, Nigeria’s leading listed conglomerate, the largest power generator in Nigeria, operator of sub-Saharan Africa’s largest hotel and a growing natural resources […]
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President Muhammadu Buhari has again assured that his administration will ensure that no employer would retrench or lay off workers due to effects of Coronavirus (COVID-19) without going through due process of social dialogue. Mr Femi Adesina, the President’s spokesman in a statement in Abuja on Friday, said Buhari gave the assurance in a message […]
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