Economy
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Excellent quality of service non-negotiable in telecom industry – Maida
The Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission (NCC), Dr. Aminu Maida has said that quality of service in the telecommunications sector is non-negotiable as he called for industry collaboration to make this a reality. Maida, who spoke in Lagos at an interactive session with chief executive officers in the industry on Thursday, assured of collaborations within…
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Abiodun woos foreign investors, says Ogun is investment friendly
By Kolawole Olayinka, Abeokuta Ogun State Governor, Prince Dapo Abiodun, has called on foreign businesses to make the state destination of choice for investment in Nigeria. Abiodun, while speaking as guest on CNBC Africa at the weekend on the sidelines of the Intra-African Trade Fair, put together by Afreximbank, in Cairo, Egypt, said Ogun State has put everything in place…
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Subsidy removal, FX unification could fuel Nigeria’s economic growth, says Morgan Stanley
Morgan Stanley has revealed that President Bola Tinubu’s policies that put an end to fuel subsidies and the unification of the naira’s exchange rate, could fuel economic growth for Nigeria. This declaration is contained in a recently published article titled, “Investment Outlook: Nigeria’s New Dawn” on the website of the American multinational investment banking firm. According to the report by…
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Ogun, three other states benefit from N500bn Afreximbank support fund
By Kolawole Olayinka, Abeokuta Ogun State is to benefit from a N500 billion financial support being packaged by the African Export-Import Bank (Afreximbank) in conjunction with Access Bank. The Gateway state is to benefit from the fund along with three other states in the country. This was disclosed in Cairo, Egypt by Governor Dapo Abiodun, while speaking at the end…
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Tinubu’s reforms will yield positive outcome, says Sanwo-Olu
Lagos State Governor Babajide Sanwo-Olu has assured the global investment community that positive results will come out of the economic reforms implemented by President Bola Tinubu. Sanwo-Olu said the decision by the Tinubu administration to remove fuel subsidy was courageous, aadding that it was neccessary to save Nigeria’s economy from the edge of catastrophe. He said although the policy led…
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ARCON warns against using Army uniforms for adverts without approvals
The Advertising Regulatory Council of Nigeria (ARCON) has warned against advertising agencies using the uniform of the Nigerian Army or any of the other security agencies for an advertisement without formal approval from the concerned authority. The ARCON Director-General, Olalekan Fadolapo, said this in a statement he personally signed on Wednesday. “This is to reiterate that it is illegal to…
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Nigeria drops $1.1bn lawsuit against Eni over OPL 245 oil block
Nigeria has dropped its $1.1 billion lawsuit against Eni over the disputed OPL 245 oil block, Bloomberg reported, citing a letter from the justice ministry. The letter, dated November 15, said Nigeria will withdraw the case from Italy’s highest court and give up any further legal action against Eni, its subsidiaries, and its current and former executives in relation to…
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Nigeria cannot rely on borrowing to fund budget, says Edun
The minister of finance and coordinating minister for the economy, Wale Edun, has warned that Nigeria cannot afford to borrow more money to finance its budget, as it is already facing a high debt burden and a challenging economic environment. Edun made this statement on Thursday at a senate joint committee meeting on the 2024-2026 medium-term expenditure framework (MTEF) and…
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Energy Commission, UNEP collaborate on training standard regulators on new air-conditioning standards
As part of its mandate of promoting sustainable energy development in the country, the Energy Commission of Nigeria (ECN) has held a one-day training workshop on Air Conditioners Monitoring, Verification and Enforcement (AC-MVE). The training which was in collaboration with the UN Environment Programmme (UNEP) was designed to build the capacity of relevant government institutions to effectively enforce energy efficiency…
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Mining sector reforms: FG launches revised guidelines for community development agreement
The Federal Government, through the Ministry of Solid Minerals Development (MSMD) on Thursday, launched the revised guidelines for Community Development Agreement (CDA) in the mining sector. Giving the keynote address at the event, the Minister of Solid Minerals Development, Dr. Dele Alake emphasised that the essence of the revised guidelines is to ensure host communities derive maximum benefits from the…
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