Economy
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Tinubu signs four executive orders, relaxes major tax changes by Buhari administration
President Bola Tinubu has relaxed some tax changes put in place by former President Muhammadu Buhari in the twilight of his administration. Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake disclosed this while addressing the press on Thursday. Alake said the relaxation of the tax changes were interventions as a result of concerns of manufacturers…
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Telecoms investment in Nigeria now $75.6bn, Danbatta declares
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has officially announced that the investment profile in the nation’s telecommunications sector, comprising foreign direct investment (FDI) and local investment, has reached $75.6 billion as of 2021. Danbatta disclosed this at an interactive session with stakeholders in the communications media ecosystem, in Lagos on Wednesday…
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No fuel subsidy payments have been made to marketers since 2016 – NNPC Limited
The Nigerian National Petroleum Company Limited (NNPCL) has said that it will reconcile fuel subsidy deductions with the Federal Government, after stating that no fuel subsidy payments were made to marketers since January 2016. The company stated this on Tuesday, when it posted a before and after fuel subsidy factsheet via their official account on Twitter. It is important to also note…
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ALTON hails NCC boss for quality regulation
The Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Mr. Gbenga Adebayo, has praised the exceptional leadership of the Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta. He also commended the NCC’s commitment to quality regulation, attributing the success of the telecom industry in the country to the regulatory environment…
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Our policies will favour investors, Tinubu assures Shell directors
President Bola Ahmed Tinubu has assured the business community of his government’s commitment to policy consistency and better business climate to attract investment. The President spoke Monday while receiving the delegation of the Shell Petroleum Development Company (SPDC) led by the Global Upstream Director, Ms Zoe Yujnovic at the State House, Abuja. President Tinubu welcomed the SPDC’s offer for more…
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Naira moves from overvalued to undervalued after foreign exchange reform
Following the long-awaited foreign exchange reform implemented by the Nigerian government, the Nigerian naira has undergone a significant transition from being overvalued to undervalued, as reported by Businessday. Analysts from US-based Bank of America shared their insights in a note to clients on June 28. “We now see a USDNGN fair value of 680 per USD (previously 580). However, USDNGN…
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Gbenga Adebija joins USAccelerator company
Gbenga Adebija has joined USAccelerator, a US-based professional service company that advises and supports international businesses on their entry and acceleration of market growth in the United States. Matthew Sawyer, Founder of USAccelerator and Adjunct Professor at Columbia University, New York, said: “Gbenga Adebija brings business leadership and multicultural communication expertise to the USAccelerator team in accordance with our mission…
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Afreximbank, Al Mahaliya sign Euro19.6m financing agreement for dairy processing
The African Export-Import Bank (Afreximbank) and Al-Mahaliya Inc. of Mauritania have signed a Euro19.6 million financing agreement for the development of a 100-metric tonnes per day dairy processing and bottling plant in Nouakchott, Mauritania. Signed on the sidelines of the 30th Afreximbank Annual Meetings (AAM2023), which ended in Accra, Ghana last week, the agreement is expected to boost the local…
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Danbatta bags platinum award for NCC’s performance
Executive Vice Chairman of the Nigerian Communications Commission, NCC, at the weekend in Lagos, lifted the Platinum Award of the Nigeria Academy of Engineering (NAEng.) being a reward for his leadership of the nation’s telecom regulator for its contributions to the development and growth of engineering profession in the technological and economic development of the country. President of the Academy,…
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Acting CG drives innovative projects for enhanced Customs efficiency
In a bid to unlock the full potential of the Nigeria Customs Service (NCS), Acting Comptroller-General (CG) Adewale Adeniyi has spearheaded innovative projects that promise to revolutionize customs practices. This was disclosed in a statement National Public Relations Officer of the Nigeria Customs Service Abdullahi Maiwada. According to the statement, the projects are with a strong emphasis on collaboration, engagement…
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