Economy
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NRC to launch e-ticketing platform for train services
A new electronic ticketing platform for the Lagos-Ibadan and Itakpe-Warri train services will be available to the public before the end of October, the Nigerian Railway Corporation (NRC) has announced. The platform will enable passengers to buy their tickets online from their homes, up to 48 hours before their journey, and avoid physical contact with NRC staff. The announcement comes…
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FG signs MOU with UK based tech company to develop Technology park in Nigeria
The Federal Ministry of Innovation, Science and Technology has signed a Memorandum of Understanding for the development of science and technology park with Across Atlantic Development, a United Kingdom based company, through the Private Public Partnership in Abuja the nation’s capital. The Minister of Innovation, Science and Technology, Uche Nnaji, disclosed this during a courtesy visit by the leadership of…
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Tinubu appoints new CEOs for inland waterways authority, shippers council
President Bola Tinubu has approved the appointment of two new Chief Executive Officers in Parastatals and Agencies under the Federal Ministry of Marine and Blue Economy in line with the recommendations of the Honourable Minister, H.E. Adegboyega Oyetola: Managing Director / CEO, National Inland Waterways Authority (NIWA) — Alhaji Munirudeen Bola Oyebamiji Executive Secretary / CEO, Nigerian Shippers’ Council (NSC)…
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Tinubu approves Oyedele-led tax reforms committee ‘quick-win report’
President Bola Tinubu on Tuesday in Abuja approved the report on fiscal policy and tax reforms from the Committee tasked with improving the nation’s revenue profile and business environment. The report titled ‘Quick Win Report’ was revived by the president at the State House after a meeting with Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and…
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ADVAN sues ARCON, Tinubu, Akpabio, others over advertising reforms
* We won’t now to sustained media attacks – Fadolepo The Advertisers Association of Nigeria (ADVAN), the umbrella body of corporate advertisers in the country, has filed a suit against the Advertising Regulatory Council of Nigeria (ARCON) over the ongoing advertising industry reforms. Also added as defendants in the suit are President Bola Tinubu, Senate President Godswill Akpabio, the Attorney-General…
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New DG Energy Commission assumes office, vows seemless implementation of Tinubu’s energy agenda
Newly appointed Director General of the Energy Commission of Nigeria (ECN) Dr Mustapha Abdullahi has assumed office with a promise to vigorously drive President Bola Tinubu’s energy transition plan. Speaking at the commission’s Head office on Tuesday in Abuja, Abdullahi also expressed a readiness to look into welfare issues with a view to boosting staff morale. The energy expert described…
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Reps summon CBN governor over new forex policy
The house of representatives has asked Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN), to explain why he lifted the forex ban on 43 items that were previously restricted from accessing foreign exchange. The items, which include rice, cement, poultry products and others, were banned in 2015 to encourage local production and save foreign reserves. However, the…
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Crude Oil: If we don’t diversify, Nigeria would find itself in dire straits, says Alake
The Minister of Solid Minerals Development Dele Alake says Nigeria would face severe economic difficulties if it does not diversify its revenue sources away from its unduly reliant oil supply. Alake said this in Abuja while speaking to State House correspondents at the end of the council meeting chaired by President Bola Tinubu. Before the discovery of oil in the…
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We’ll honour legitimate foreign exchange obligations, restore market confidence – Tinubu
President Bola Tinubu has allayed the concerns of the business community, assuring them that crucial plans are underway to improve foreign exchange liquidity. The President said his administration will honour every legitimate contract with respect to the nation’s foreign exchange obligations. Speaking at the 29th Nigerian Economic Summit (NES) in Abuja, on Monday, President Tinubu said he is confident that…
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UK court rules in favour of Nigeria in P&ID contract case
Nigeria has finally won a long legal battle to stop the enforcement of a massive $11 billion arbitration award in favour of P&ID, a company that claimed to have a gas processing contract with the country. The Commercial Courts of England and Wales, in a judgment delivered by email, agreed with Nigeria’s argument that the contract was a fraud and…
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