NIGERIA – Acting President Yemi Osinbajo has advised foreign investors to take advantage of the opportunities in the Nigerian economy now or risk blaming themselves in 10 years time. Osinbajo made made this declaration when he spoke at the Presidential villa in Abuja during a meeting of delegates from the Nigerian Initiative for Economic Development […]
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First Bank of Nigeria (FBN) has posited that the Nigerian Banks who took over 9mobile — formerly known as Etisalat Nigeria — are in the process of stabilising the telecommunication company before looking for new investors to buy into the company. Quoting First Bank, Reuters said the country’s fourth largest telecoms group will keep stability […]
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The Senate has ordered the arrest of the chief executive officers of 30 companies for allegedly failing to appear before it. The companies are alleged to have been involved in the N30 trillion-revenue believed to have been lost by the country in its maritime sector. The companies include mobile giant Globacom, Crown Flour Mills, British […]
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The federal government is at the final stage of its plan to tax first class and business class air tickets alongside other luxury goods in the country. This minister of finance, Kemi Adeosun, made this disclosure while responding to questions from Nigerians on Thursday morning via Facebook. Addressing the question, the finance minister, “I think yes.” “We’ve […]
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The International Monetary Fund (IMF) staff team, which visited Nigeria from July 20 to July 31, says non-performing loans across Nigerian banks have 6 percent in 2015, to 15 percent in 2017. The team led by Amine Mati, senior resident representative and mission chief for Nigeria at the IMF, discussed recent economic and financial developments, updated […]
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The Federal Executive Council on Wednesday approved 27 new industries and products to enter into the pioneer status to give tax holidays to them for three years, to enable them grow and expand investments. The list was last reviewed in 2006 and the approval was to bring the industrial policy of the country to global […]
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Mr Nicolas Terraz, Managing Director/Chief Executive Officer Total upstream companies in Nigeria, on Wednesday said that the firm would boost the country’s daily oil production by 200,000 barrels from 2018. Terraz, who was represented by Mr Biodun Afolabi, Executive Director, Corporate Affairs and Services, said that the additional barrels would come from the company’s multi-billion […]
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Nigeria’s Acting President Yemi Osinbajo has directed the Federal Ministry of Power, Works and Housing to intervene and ensure that the Ariaria International Market in Aba, Abia States, enjoys 24 hours supply of electric power. The city of Aba is noted for its huge commercial activities, while the Ariaria Market is one of the most […]
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Ibe Kachikwu, minister of state for petroleum resources, has urged Aliko Dangote, president of Dangote group, to make sure he completes his refinery before December 2019. He made the call when he visited the Dangote oil refinery site at Lekki free trade zone, Lagos state, on Monday. Kachikwu said there would be more chances of […]
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Oil prices hit a two-month high on Monday as a result of the tightening of US crude market and the threat of sanctions against OPEC-member, Venezuela. Brent crude futures traded at $52.90 per barrel, its highest since May 25, while West Texas Intermediate (WTI) rose by 16 cents to trade at $49.87 per barrel. Oil […]
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