Economy
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FG working with mining communities to promote development
The Minister of Solid Minerals Development, Dele Alake, has reaffirmed the significance of host communities and traditional rulers to the conducive environment required for socio-economic development of host communities. Alake stated this while playing host to Attah of Igala and President of Kogi State Traditional Rulers Council, HRH Ata Matthew Opaluwa, who paid him a courtesy visit in the office…
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NiDCOM boss, Dabiri-Erewa, seeks partnership with CBN on diaspora remittances
The Chairman, Nigerians in Diaspora Commission, Abike Dabiri-Erewa on Tuesday sought partnership with the Central Bank of Nigeria and financial institutions to improve remittance channels. Dabiri-Erewa made the request when she paid a courtesy visit to the CBN governor, Olayemi Cardoso, at the CBN’s headquarters in Abuja. The NiDCOM boss also requested a policy on reducing the cost of sending…
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China’s investments in Lekki, Ogun-Guangdong free trade zones exceed $1billion- Yuging
The Consul General of People’s Republic of China in Lagos, Ms Yan Yuging, has disclosed that the country’s investments in the Lekki Free Trade Zone and the Ogun-Guangdong Free Trade Zone exceeded $1 billion. Yuging asserted that the bilateral trade volume between China and Nigeria reached $23.9 billion in 2022, adding that imports to Nigeria was $22.3 billion and exports…
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NAFEM: Naira depreciates by 4.1 % to close at N809.02/Dollar
The naira on Monday depreciated by 4.1per cent to N809.02 against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM). At the money market, the overnight lending rate expanded by 19basis points to 16.9per cent, in the absence of any significant funding pressure on the system. The Nigerian Treasury bills secondary market traded on a bearish note, as the…
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Technology to play crucial role in sanitising mining sector – Alake
The Minister of Solid Minerals Development, Dele Alake, has emphasised the significance of technology in sanitising and repositioning the mining sector for greater productivity to achieve a substantial contribution to Nigeria’s Gross Domestic Product (GDP) in line with the Renewed Hope Agenda of the Tinubu administration. Speaking while playing host to the Minister of Science, Technology and Innovation, Uche Nnaji,…
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Minister says NNPC will be accountable for refineries rehabilitation
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said that the Nigerian National Petroleum Company (NNPC) Limited will be accountable for the successful rehabilitation of Nigeria’s refineries. He made this remark while speaking with journalists at the end of a three-day ministerial retreat in Abuja. He said he had inspected all the refineries and was following up on…
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I’ll fire you for non performance, before Tinubu sacks me, Keyamo warns aviation MDA administrators
Minister of Aviation and Aerospace, Festus Keyamo, have warned some chief executives of aviation agencies to perform or face dismissal. He said this on Saturday while reading out the riot act to some heads of the aviation agencies in Lagos. He made the remarks in response to the recent signing of performance commitments, he and other ministers are required to…
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BUA recounts over 30 years running battle with Dangote in fight for market control
BUA Group, one of Nigeria’s leading conglomerates, has responded to the claims and allegations made by Dangote Group, its rival in the cement and sugar sectors, in a recent editorial. BUA described the editorial as a “cheap attempt at blackmail” and a “sponsored campaign of calumny” against it. In a press statement signed by its management, BUA narrated its history…
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Nigeria signs $116m deal with French government to fund digital and creative economy
Nigeria on Friday, signed a $116 million worth deal with the French Government to fund digital and creative economy in the country. The signing took place at the Tafawa Balewa House, headquarters of the Ministry of Foreign Affairs. Minister of Communications and Digital Economy, Bosun Tijani, who represented Vice President Kashim Shettima signed on behalf of Nigeria while the French…
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Nigeria’s GDP worth around $600bn – Chapel Hill CEO
The Chief Executive Officer (CEO) of Chapel Hill Denham, Mr. Bolaji Balogun has said that the Nigerian economy is worth around $600 to $650 billion. Balogun said this while delivering the keynote address at the Annual Enterprise table and the 5th-anniversary celebration of Deal HQ Partners with the theme Economic Reset: Rethinking the Role of Nigeria’s Private Sector. He said,…
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