Category: Economy
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FG Commends Dangote Cement for Vital Roles in Economic Diversification
From Lateef Taiwo The Federal Government has commended the leading roles being played by the Dangote Group to complement government’s efforts to diversify the nation’s economy and the company’s dedication to promotion of best practices in all its operations. The commendation came even as the Ogun State government said the Dangote Cement is a key…
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U.S. Secretary of State Blinken Affirms Continued Business Interest in Nigeria
U.S. Secretary of State Anthony Blinken has reiterated the United States’ commitment to investing in Nigeria’s economy. Speaking at a news briefing after meeting with President Bola Tinubu at the Presidential Villa in Abuja during his African nations tour, Blinken expressed the eagerness of American entrepreneurs and companies to collaborate and invest in Nigeria,…
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IMF Initiates Capacity Development Training for Fiscal Responsibility Commission
By Milcah Tanimu The Fiscal Responsibility Commission (FRC) inaugurated a two-week capacity development training support organized by the International Monetary Fund (IMF) in Abuja. The training aims to enhance the FRC’s capabilities in supporting the management of the economy, particularly under the leadership of President Bola Tinubu. Victor Muruako, the Chairman of the Fiscal Responsibility…
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Peter Obi Criticizes Tinubu and NASS for Alleged Illegal Securitization of N7.3tn CBN Debt
BY Milcah Tanimu Peter Obi, the Presidential Candidate of the Labour Party (LP) in the 2023 general elections, has condemned President Bola Tinubu for the purported securitization of the N7.3 trillion ‘ways and means’ facility from the Central Bank of Nigeria (CBN). Obi deemed this action illegal and expressed concern over the National Assembly’s approval…
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Illegal Water Connections: Kwara raises Committee
Stephen Olufemi Oni, Ilorin Kwara State Commissioner for Water Resources, Hon. Usman Yunusa Lade, has inaugurated a Nine-Man Committee to investigate the alleged illegal water connections and also review the revenue generation in the State Water Corporation. Inaugurating the committee at the Conference Room of the Ministry, the Commissioner charged the committee members to discharge…
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“APO Group Advocates Increased Investment Flows to Boost African Economies”
By Milcah Tanimu APO Group, a Pan-African communications company founded by Franco-Gabonese entrepreneur Nicolas Pompigne-Mognard, is urging for enhanced investment flows to Africa to support the continent’s businesses and economies. Pompigne-Mognard, in a media interview during his visit to Nigeria, reiterated the company’s commitment to redefining the media and communications industry in Africa and leveraging…
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LPG stakeholders to NCS: implement FG’s directive on VAT exemption
Stephen Olufemi Oni, Ilorin Stakeholders in the Liquefied Petroleum Gas (LPG) industry in Nigeria have lamented the non implementation of the over one week federal government’s directive exempting the LPG and accessories imports from Value Added Tax (VAT) by the Nigeria Customs Service (NCS). Worried by this development, the stakeholders, who rose from an emergency…
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Government Spends N375.8bn on Electricity Subsidy; Consumers Pay N782.6bn
By Milcah Tanimu Recent data from the Nigerian Electricity Regulatory Commission (NERC) reveals that the Federal Government spent N375.8 billion on electricity subsidy between January and September of this year. Over the same period, power consumers paid a total of N782.6 billion for electricity. The figures indicate ongoing government subsidies during the first, second, and…
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Kwara budgets N296.4bn for 2024 fiscal year
• CAPEX takes 61% of budget, recurrent 39% Stephen Olufemi Oni, Ilorin Kwara state Government has proposed the sum of N296.4bn for the 2024 fiscal year, with the capital expenditure gulping a whopping 61 percent of the proposed spending, while recurrent keeps the balance of 39 percent. Governor AbdulRahman AbdulRazaq disclosed this on Thursday in…
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2024 budget: N15bn for VP residence more useful to fuel police vehicles, increase allowances – Peter Obi
By Lateef Taiwo The 2023 Labour Party, LP, presidential candidate, Mr. Peter Obi, on Friday, said the N15 billion budgeted for the new residence of the Vice President could be deployed to fuel police operational vehicles. Obi said the money could be used to increase police officers’ allowances from N5,000 to N15,000 per day. Posting…