Economy
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NRC suspends officials captured collecting money from train passengers without ticket
The Nigerian Railway Corporation (NRC) has suspended the officers seen in a viral video negotiating with Lagos-Ibadan Train Service (LITS) passengers to board without official boarding tickets. This was contained in a statement by Deputy Director Public Relations, NRC, Yakub Mahmood. He said the actions of the erring officers negates the tenets of the NRC. The statement further added that…
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Solid minerals will boost Nigeria’s revenue- FIRS boss
Newly appointed Acting Chairman of the Federal Inland Revenue Service, Mr.Zachaeus Adedeji has said the administration is counting on the growth of the solid minerals sector to boost the economy. Speaking on a courtesy visit to the Honourable Minister of Solid Minerals, Oladele Alake, yesterday in Abuja, Adedeji said the highest taxable limit is 18 per cent of the Gross…
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Group applauds Danbatta’s transformative achievements in Nigeria’s telecom sector
In a resounding chorus of praise, a stakeholder group in the Nigerian Information and Communication Technology (ICT) has commended the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, for his remarkable leadership and the unprecedented achievements in the nation’s telecom sector. The stakeholders came under the auspices of the Nigeria Information Technology Reporters’ Association…
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Solid minerals tool to ressurect Nigeria’s economy – Alake
The Minister of Solid Minerals Development, Oladele Alake, has stated that the solid minerals Nigeria is endowed with in abundance will be a resurrection tool to revamp the nation’s economy, just as he affirmed that the present administration is shifting attention from hydro-carbon. Alake made this declaration when a delegation of Nigeria-China Chamber of Mines led by its National President,…
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CBN assigns roles to deputy governors
On Friday, the Central Bank of Nigeria (CBN) assigned responsibility to the four deputy governors confirmed on Tuesday by the Senate. Consequently, Bala Bello will be responsible for corporate services, and Mohammed Sani will be in charge of economic policy. Philip Ikeazor is now deputy governor in charge of financial system stability (FSS), while Emem Usoro is responsible for operations.…
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Over 3 million MSMEs to benefit from FG/ALAT Skillnovation
In a bid to support information technology revolution that would, in turn, extend the reach of economic and social interactions as well as enhance productivity growth in Nigeria, the Federal Government and ALAT have launched Skillnovation Programme. The initiative will provide over three million Nigerians with essential digital skills required to succeed in the global economy. Speaking during the launch…
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Presidential Tax Reforms Committee clarifies budget, expenses
The Presidential Fiscal Policy and Tax Reforms Committee has issued a clarification regarding its budget and expenses, following a recent story about some funds transferred by the Federal Inland Revenue Service (FIRS) to the Joint Tax Board (JTB) for the Committee’s work. In a press statement signed by its Chairman, Taiwo Oyedele, the Committee explained that the funds were meant…
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Adelabu sets up ministerial support team, appoints Tunji, Ajanaku, Olowoniyi as team leaders
The Minister of Power, Adebayo Adelabu has commissioned three Ministerial teams to provide technical support, project delivery coordination, stakeholder management, and media relations within the ministry. “This strategic move is aimed at strengthening the ministry’s existing capabilities and enhance its efforts in delivering efficient and sustainable power solutions to the nation”, the Ministry said. The statement said further that under…
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Tinubu hails NUPRC CEO Komolafe at 60
President Bola Tinubu has felicitated with Chief Executive Officer, Nigerian Upstream Regulatory Commission, Gbenga Komolafe, on his 60th birthday. The president in a statement by his media aide Ajuri Ngelale, described the celebrant as a reputable technocrat in the oil industry who has served the nation meritoriously in various capacities. The statement read, “As the NUPRC CEO clocks 60, President…
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Domestic inflows on NGX hits N118bn in August
Despite the challenges faced by the Nigerian economy, domestic inflows rose by N118 billion in the month of August 2023, reflecting optimism for domestic growth with the new promulgation of long needed reforms. This is according to the Domestic and Foreign Portfolio Investment Report of Nigerian Exchange Limited (NGX) for the month of August 2023. The Domestic and Foreign Portfolio…
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