Economy
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Buhari orders reopening of Idi Iroko, three other borders
President Muhammadu Buhari has ordered the immediate reopening of Idi Iroko (Ogun State), Jibia (Katsina State), Kamba (Kebbi State) and Ikom (Cross River State) land borders. This was disclosed by the Deputy Comptroller-General of Customs, EI Edorhe, in a circular issued on Friday on behalf of the Comptroller General of Customs. The circular, which was copied to all Assistant Comptrollers-General/Zonal…
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Buhari lauds Dangote’s entrepreneurial acumen
President Muhammadu Buhari on Friday in Abuja lauded the entrepreneurial spirit and doggedness of the President of Dangote Industries Limited (DIL), Aliko Dangote and urged Nigerians in business to emulate him, to enable the country witness real economic growth and development. While receiving the President of DIL and Board members of Dangote Group at the Presidential Villa, Abuja, Buhari thanked…
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SEC solicits NESG’s support on economic development
The Securities and Exchange Commission(SEC) has restated the vital role the capital market plays in the development of any country through the provision of long term funds for infrastructure development among others. Director General of the SEC, Mr. Lamido Yuguda stated this when a team from the Nigerian Economic Summit Group (NESG) visited the Commission in Abuja, weekend, to collaborate…
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Foreign reserves increase by $59.99m
The Nigeria’s foreign exchange (FX) reserves increased by $59.99 million in its week on week (w/w) performance to $39.80 billion as at April 20, 2022. However, the local currency depreciated at the Investors & Exporters (I&E) window by 0.2per cent to N418.33 against the dollar but appreciated by 0.2per cent to N589 against the dollar at the parallel market. At…
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PHOTO NEWS: Dangote Industries directors visit President Buhari
President Muhammadu Buhari on Friday, received Board of Directors of Dangote Industries who paid him a courtesy visit at the State House. In the entourage were President/CEO Alhaji Aliko Dangote, Group Managing Director, Mr. Olakunle Alake, Director Alhaji Abdul Dantata among others.
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Equities market gains N46bn to maintain positive trend
Bullish sentiments persisted in the domestic equities market of the Nigerian Exchange Limited (NGX) on Thursday with a gain of N46 billion, as investors took positions in Eterna Plc and 28 others. The All Share Index (ASI) rose by 85.15 points or 0.18 per cent to close at 48,223.86 points, while the overall market capitalisation value gained N46 billion to…
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New Google Equiano Sea Cable will generate 1.6m jobs, $10bn GDP for Nigeria, says Sanwo-Olu
Lagos State Governor, Babajide Sanwo-Olu says the new Google Equiano Sea Cable in Nigeria will generate 1.6 million jobs and boost the country’s Gross Domestic Product (GDP) by an additional $10billion within the next three years. Sanwo-Olu was speaking at the virtual landing of the cable at the Open Access Data Centre at Lekki in Lagos on Thursday. The governor…
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Minor fire guts CBN office
There was a fire incident at the Makurdi branch of the Central Bank of Nigeria (CBN) in Benue State. A portion of the bank went in flames in the early hours of Thursday. Eyewitnesses said that they noticed the fire at the back of the bank which is located in the Old GRA area, Makurdi, Benue State capital. “It was…
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Nigeria operates free market, we can’t regulate price, says FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) says regulation of goods in the market does not lie within its purview as an agency. In a statement issued in Abuja, FCCPC’s Executive Vice Chairman, Babatunde Irukera said it was difficult for the commission to regulate prices because the nation operates in a free market. He however said they have from…
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Lagos committed to transformation of Lekki corridor, industrial hubs – Sanwo-Olu
Lagos State Governor, Babajide Sanwo-Olu, says his administration is committed to the rapid transformation of the Lekki corridor and other industrial hubs in the State. The governor made the statement while performing the groundbreaking ceremony of the $250m Kasi Cloud Data Centre at Leisure Land by Theme Park Site along Maiyegun- Lekki Beach Road, Lekki Peninsula II on Tuesday. According…
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