Economy

Credit to private sector adds N5.6trn YtD, increases to N40.8trn in October

Banking credit to private sector added N5.6trillion in its Year-till-Date (YtD) performance and increased to N40.8trillion in October 2022, according to the Central Bank of Nigeria (CBN) money and credit statistics. The apex bank in its latest statistics disclosed that credit to private sector added N294.9billion in October from N40.5billion in September to N40.8billion reported in October.  Data from the…

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Abiodun presents N472.25bn 2023 budget proposal to Ogun Assembly

By Kolawole Olayinka, Abeokuta Governor Dapo Abiodun of Ogun State on Thursday presented a budget proposal of N472.25 billion to the state House of Assembly for the 2023 fiscal year. The budget is made up of N270.41billion for capital projects, taking the lion share, while N201.84 billion will go for recurrent expenditure.Governor Abiodun, who read the 2023 appropriation bill christened;…

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NCC commends Ondo govt’s broadband plan, sets up committee

The Nigerian Communications Commission (NCC) has commended the Ondo State government for its commitment to the deployment of broadband infrastructure through the Odua Infraco, urging other states to come on board the efforts to make the service available to their citizens.   A delegation of Ondo State, led by the Chairman of the State Information Technology Agency, SITA, Olumbe Akinkugbe, had…

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BUA Group’s O’tega Ogra named among Global Top 100 under 40

100 young persons of African descent under 40 years have been recognized as the Most Influential People of Africa Decent 2022 by the Most Influential People of African Descent (MIPAD), a global civil society initiative in support of the UN International Decade for people of African descent. The list was released during the MIPAD 2022 Recognition Week following the opening…

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5G auction driven by pursuit of better quality of life, not revenue – Danbatta

Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof Umar Danbatta, said efforts by the Commission to auction available spectrum for 5G services in Nigeria, is primarily driven by the pursuit to join the global community to advance digital services and enhance quality communications infrastructure for the benefit of the citizenry, and not by the need to attract…

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Ogun to host $3bn refinery in Tongeji Island

By Kolawole Olayinka, Abeokuta Ogun State will soon join the league of oil producing states as a firm, Gasoline Integrated International, has expressed its readiness to build a $3billion refinery in Tongeji Island, Ipokia Local Government Area of the state. A statement issued in Abeokuta by the Governor’s Chief Press Secretary, Kunle Somorin said the refinery when completed will be…

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LCCI hails Dangote on provision of infrastructure, job creation

Dangote Industries Limited sustained efforts at providing basic infrastructure through various intervention projects have received the commendation of the Lagos Chamber of Commerce and Industry (LCCI). President of the LCCI, Dr. Micheal Olawale-Cole, in his remarks at Dangote Group’s Special day at the ongoing Lagos International Trade Fair on Tuesday, said the foremost indigenous conglomerate has contributed significantly in providing…

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I received death threats over NNPC reforms – Kyari

The Group Managing Director (GMD) of the Nigeria National Petroleum Company (NNPC Ltd), Mr Mele Kyari, has said that he is receiving death threats as a result of the ongoing reformation in the NNPC. Kyari made this known on Wednesday in Abuja at the Legislative Transparency and Accountability summit organised by the House of Representatives Committee on Anti-Corruption. The summit…

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