Category: Economy
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FG to double airports by 2023 – Sirika
The Federal Government says it will double the number of airports in the country before the end of 2023 to enhance air connectivity and boost the nation’s economy. The Minister of Aviation, Mr Hadi Sirika said this while responding to questions during the Public Presentation of the 2021 Budget Proposal on Tuesday in Abuja. The…
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FG not considering accessing the World Bank DSSI debt relief loan – Minister
The Minister of Finance, Mrs Zainab Ahmed says the Federal Government is not considering accessing the Debt Service Suspension Initiative (DSSI) loan due to the high risks the offer comes with. Ahmed made this known on Tuesday in Abuja at the public presentation of the 2021 budget proposal. Ahmed said that the Federal Government had…
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Tank Farms in high density areas may relocate- NASS C’ttee
Mr Sergius Ogun, Chairman, National Assembly ad hoc committee on relocation of tank farms, said tank farms sited in high density areas may be relocated for safety of lives and properties. Ogun made the remark on Wednesday in Port Harcourt during a three days tour of tank farms in Port Harcourt zone of the Department…
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Expert says forex responsible for hike in petrol price
Mr Ronke Onadeko, an expert in oil and gas, says high exchange rate of Naira to the dollar is responsible for increase in price of Premium Motor Spirit (PMS), also called petrol, in the country. Onadeko disclosed this on Wednesday in Lagos at a policy dialogue on reporting the oil and gas sector. According to…
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NSE market capitalisation crosses N15trn mark, amid bullish trading
The key market indices of the Nigerian Stock Exchange (NSE) on Tuesday rallied to the all-time high, appreciating by 4.92 per cent. Specifically, the market capitalisation which opened at N14.402 trillion rose by N949 billion to close at N15.110 trillion. Also, the All Share Index rose by 1,354.88 or 4.92 per cent to close at…
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Zamfara, CBN enter into N5bn gold deal
Gov. Bello Matawalle of Zamfara says that his administration has entered into a N5 billion gold supply deal with the Central Bank of Nigeria (CBN). The governor made the disclosure on Tuesday in Gusau, at a press conference to present the 31-kilogramme Zamfara processed gold. He said that the state government would, at an agreed…
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Deregulation will boost investment in refining — Kyari
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, says the deregulation of the downstream sector of the oil and gas industry in Nigeria will increase investment in the refining business. Kyari made this known in a statement signed by the Group General Manager, Group Public Affairs Division, Dr Kennie Obateru,…
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2021 budget: Expert tasks FG on monitoring, evaluation for enhanced performance
A financial expert, Dr Glenn Prince-Abbi, on Monday urged the Federal Government to map out strategies for proper monitoring and evaluation of national budget to ensure enhanced performance. Prince-Abbi, the Chief Executive Officer (CEO) of Espera Global Corporation, said this in an interview with the News Agency of Nigeria (NAN) in Lagos, while reacting to…
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Oil prices rebound 2% on Trump’s health, Norway strike escalation
Oil prices rose more than two per cent on Monday, lifted by comments from doctors for U.S. President Donald Trump, suggesting he could be discharged from hospital as soon as Monday. This is just a few days after his positive coronavirus test sparked widespread alarm. Trump’s health update eased political uncertainty in global markets, pushing…
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NIMASA issues 3-month ultimatum for Cabotage registration
The Nigerian Maritime Administration and Safety Agency (NIMASA), has issued a three-month ultimatum to companies engaged in Cabotage services in Nigeria, to register all vessels used in coastal and inland waters for such operations. Mr Philip Kyanet, Head, Corporate Communications, NIMASA, issued the ultimatum in a statement on Sunday in Lagos. Kyanet said that in…