Category: Business
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Kwara Governor’s Aide, Fafoluyi Honoured As UNILORIN Advocate
Stephen Olufemi Oni, Ilorin The management of the University of Ilorin has designated the senior special assistant on New Media to Governor AbdulRahman AbdulRazaq of Kwara State, Okayinka Fafoluyi as the institutions’s advocate. The management said Fafoluyi was honoured for his exemplary contributions to media and public relations. At a colourful event held at the…
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LGBT LOAN: We ‘ L Reject It With Our Last Blood, Kenya Will Be Small to the Out Come- Gololo
From Lateef TaiwoAn All progressive Congress ( APC), Chieftain, Dr. Haruna Garus Gololo, has warned the Federal Government to suspend any plan to signed the LGBT Loan, saying that the North will resist it with the last drop of their blood. ” We are Moslems and Christians in Nigeria, these are the two recognised religions…
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Expert seeks annual budgetary allocations for food security
Stephen Olufemi Oni, Ilorin A call has gone to the federal and state governments to make substantial annual budgetary allocations for food security towards ensuring food sufficiency in the country. A Veterinarian and Food Security Advocate, Dr Hameed Nuru of the UN World Food Programme (WFP) made the call while delivering the University of Ilorin’s…
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PZ Cussons Nigeria reports N96.4 billion losses in FY 2024, shareholders’ funds wiped out
From Lateef Taiwo Consumer goods company, PZ Cussons Nigeria reported a net loss of N96.4 billion for the fiscal year ending May 31, 2024, according to information contained in its latest unaudited financial statements. The losses led the company to post a negative equity of N47.2 billion at the end of the fiscal year. PZ…
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Uncertainty Surrounds Cause of Abuja Market Fire
The Federal Capital Territory Emergency Management Department (FEMD) emphasized the crucial role of accessibility in firefighting, noting the cause of the recent fire at the old Karu Market remains unknown. Acting Director General, Mrs. Florence Wenegieme, made this statement at the market scene, where a fire broke out yesterday evening. A combined effort by the…
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PwC: Central Bank Efforts Will Steady the Naira
By Milcah Tanimu Professional services firm PwC has expressed confidence that interventions by the Central Bank of Nigeria (CBN) will stabilize the naira in the long term. This insight was shared in its latest Nigeria economic outlook report, “Navigating Economic Reforms.” PwC stated, “Interventions by CBN may cause the naira to stabilize in the long-term.…
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Nigeria Boosts Foreign Reserves By $5m From Gold
From Lateef Taiwo The first commercial transaction under her National Gold Purchase Programme, NGPP, has added US$5 million to Nigeria’s foreign reserves and boosted local economy by about N6 billion. Minister of Solid Minerals Development, Dr Dele Alake made this known while presenting the latest gold bar sourced from artisanal and small gold miners and…
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Naira Depreciation Ranks Lagos, Abuja Among Cheapest Cities for Expats
By Milcah Tanimu Lagos and Abuja, Nigeria’s commercial hub and capital, have been ranked among the world’s cheapest cities for expatriates, according to the 2024 Mercer cost of living survey. Naija News reports that this affordability is due to the significant depreciation of the naira, which began after President Bola Tinubu implemented economic reforms removing…
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FG Adds 17 New Oil Blocks to 2024 Bidding
By Milcah Tanimu The Federal Government has announced the addition of 17 deep offshore oil blocks to the 2024 Licensing Round for oil fields in Nigeria. This announcement comes after previously offering deep offshore blocks in the 2022/23 mini-bid round, and includes additional blocks across onshore, continental shelf, and deep offshore terrains for the 2024…
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NERC Approves 450MW Deal to Keep Zungeru Power Plant Operational
The Nigerian Electricity Regulatory Commission (NERC) has sanctioned a deal to procure 450 megawatts of electricity from the Zungeru Hydro Electricity Generation Company Limited. This move aims to stabilize the grid and prevent the shutdown of the newly completed Zungeru hydropower plant while it awaits contracts with off-takers. The directive, part of the Commission’s Order…