Economy
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Nigeria’s GDP dropped to 2.31% in Q1 2023, says NBS
The National Bureau of Statistics (NBS) on Wednesday disclosed that Nigeria’s Gross Domestic Product (GDP) dropped to 2.31per cent (year-on-year) in real terms in the first quarter (Q1) of 2023 as against 3.11 per cent reported in first quarter (Q1) of 2022. The bureau attributed the decline to the adverse effects of the cash crunch experienced during the quarter. NBS…
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PHOTO NEWS: Buhari commissions new Customs headquarters in Abuja
President Muhammadu Buhari on Tuesday commissioned the newly built corperate headquarters of the Nigeria Customs Service in Abuja. The newly built headquarters of the Customs was initiated in 2002.
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WhatsApp to allow users to edit messages within 15 minutes
WhatsApp says it will allow users to edit messages, in a move that will see it match a feature offered by competitors like Telegram and Discord. The firm says messages can be edited for up to 15 minutes after being sent. The instant-messaging service is part of US technology giant Meta, which also owns Facebook and Instagram. The feature will…
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Dangote Refinery will generate $21bn, to employ over 100,000 youths
Amid encomium from eminent personalities, which included President Muhammadu Buhari and five other African heads of state, President of the pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote disclosed on Monday that the newly commissioned 650,000pbd refinery would employ over 100,000 Nigerians youths. He also said the edifice will generate over $21 billion, thereby saving the country huge forex, that…
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Dangote Refinery game changer for Nigeria’s economy, says Buhari
President Muhammadu Buhari has described the newly inaugurated Dangote Petroleum Refinery in Ibeju-Lekki, Lagos as a significant milestone for Nigeria’s economy and a game changer for the downstream petroleum products market in the entire African region. The refinery, which was inaugurated by President Buhari on Monday in an event attended by Heads of State from Ghana, Togo, Niger, Senegal and…
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FCMB Founder, Subomi Balogun dies at 89 in London
It was a black Friday for the FCMB Group as its founder, Otunba Subomi Balogun, died in London at 89-year-old. He celebrated his 89th birthday in March. He was an alumnus of Igbobi College and studied law at the London School of Economics. The deceased practised as a lawyer in the regional justice ministry and then at the federal ministry of…
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FAAC: FG, states, LGs share N655.932bn for April
The Federation Account Allocation Committee (FAAC) has given N655.932 billion in revenue for April to the federal, state and local governments. According to a statement by Bawa Mokwa, a spokesman for the office of the accountant of the federation (OAGF), this is contained in a communiqué issued at the end of the FAAC meeting for May 2023. The communique states…
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Buhari launches Kashimbila Multipurpose Dam as Nigeria targets 30GW by 2030
President Muhammadu Buhari on Thursday inaugurated the Kashimbila Multipurpose Dam, 40MW Hydropower Station and Associated 132KV Switchyard, Transmission Line and Distribution Substation (Phase I) Project, located at the Kashimbila Dam site in Taraba State. Speaking at a virtual ceremony held at the Council Chamber, State House, Abuja, the President underscored the importance of the project, highlighting its role in his…
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FEC grants approval for concessioning of Abuja, Kano airports
The Federal Executive Council (FEC) has granted approval for the concessioning of the Nnamdi Azikiwe International Airport in Abuja and the Mallam Aminu Kano International Airport in Kano. The decision was reached during a meeting held on Wednesday and chaired by President Muhammadu Buhari. Hadi Sirika, the Minister of Aviation, addressed journalists after the meeting, stating that the concessioning of…
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