Economy
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BREAKING: Nigeria’s inflation rate increases to 32.70% in September, says NBS
The National Bureau of Statistics (NBS) on Tuesday disclosed that the Nigeria’s inflation rate in September 2024 stood at 32.70per cent relative to the 32.15 per cent in August 2024. The Consumer Price Index (CPI) report by NBS stated that the September 2024 headline inflation rate showed an increase of 0.55per cent compared to the August 2024 inflation rate. According…
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Nigeria must sustain current reforms for 15 years to transform economy, says World Bank
The World Bank has said Nigeria must maintain its current reforms for the next 10 to 15 years to transform its economy. The senior vice-president of the World Bank Group, Indermit Gill, who spoke on Monday during the ongoing 30th Nigerian Economic Summit (NES), organised by the NES Group (NESG) in collaboration with the ministry of budget and national planning.…
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Nigeria’s economy transiting to another model, not dysfunctional, says IMPI
Publicly available data show that the Nigerian economy is responding progressively to the economic policies of the President Bola Tinubu administration, according to policy think tank, the Independent Media and Policy Initiative (IMPI) This, the group, says is contrary to the doomsday prognosis of a dysfunctional economy by some self styled analysts which have no basis in fact. In a…
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Oyetola flags off Gateway Inland Dry Port in Ogun
… it’s the beginning of a new era of economic growth and job creation – Abiodun The Minister of Marine and Blue Economy, Alhaji Adegboyega Oyetola, on Friday performed the groundbreaking ceremony of the Gateway Inland Dry Port with a promise to make it a model for other Inland Dry Ports in the country. Speaking at the occasion held at…
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FG approves gas supply to $3.3bn methanol plant
The Federal Government, through the Nigerian National Petroleum Company Limited, has signed an agreement to begin sales of gas to the methanol-manufacturing project of the $3.3bn Brass Fertilizer & Petrochemical Company Ltd. Speaking at the signing ceremony held at the headquarters of the ministry, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo said the gas sales-and-purchase agreement was…
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125 CNG conversion centres activated, as investment raises to $175m
Not less than 125 Compressed Natural Gas (CNG) conversion centres have been activated across the country. This surpasses the 100 centres earlier anticipated, according to the Presidential Compressed Natural Gas Initiative (P-CNGI) Chief Executive Officer, Michael Oluwagbemi. Oluwagbemi, in an interview on Friday in Abuja, added that additional N80 billion worth of CNG investments were generated within the last one…
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Human, infrastructural developments key to unlocking Africa’s potential, says Inuwa
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has urged industry experts and start-ups within the technology ecosystem to work closely with the government in co-creating robust regulations that would advance human and infrastructural development towards unlocking Africa’s great potentials. Inuwa made this call at the second edition of the annual Moonshot Tech Conference 2024…
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FG pushes for fiscal, monetary policy coordination at Renewed Hope Agenda workshop
By Kunle Sanni The Federal Government has launched the two-day Renewed Hope Agenda workshop, aimed at boosting Nigeria’s economy by improving coordination between fiscal and monetary policies. The workshop, organized in partnership with the Federal Ministry of Finance and the Central Bank of Nigeria (CBN), seeks to enhance the government’s technical capacity in implementing key economic policies critical to the…
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Nigeria, Japan strengthen bilateral ties to boost trade, development, food security
By Kunle Sanni Nigeria is set to strengthen its ties with Japan in a bid to enhance trade relations and explore opportunities in critical areas such as infrastructural development, food security, and healthcare. Vice President Kashim Shettima made this commitment during a meeting with a Japanese delegation at the Presidential Villa, Abuja, on Monday. The delegation, led by the outgoing…
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Osun/Segilola tussle: Alake reiterates States lack powers to arbitrarily shut down mining operations
Over Osun Government and Segilola Resources Operating Limited (SROL) tussle, the Minister of Solid Minerals Development, Dr. Dele Alake on Wednesday restated that states lack powers to arbitrarily shut down mining operations, The Minister inaugurated fact-finding team constituted in the heat of the face-off. It will be recalled that the minister last week announced the constitution of a fact-finding committee…
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