Economy
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FG to establish full-scale cooking stove manufacturing facility in Ogun
By Kunle Sanni The Federal Government has revealed plans to establish a full-scale cooking stove manufacturing facility in Ogun State. This initiative marks a major advancement in Nigeria’s commitment to clean energy. Ajuri Ngelale, the Special Presidential Envoy on Climate Action, announced the plans after a meeting with the Global CEO of Burn Manufacturing. The discussions centered around advancing this…
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$5bn Energy Bank: Nigeria remains Africa’s top investment destination, says TMV
The Tinubu Media Volunteers (TMV) has said that the decision to cite the headquarters of the $5 billion Africa Energy Bank in Nigeria shows that the country remains a viable investment destination. TMV in a statement signed by its Chairman Chukwudi Enekwechi and Secretary Sunday Shedrach Gyungoun that President Bola Tinubu also deserves credit for making it happen. “So much…
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Lagos State’s GDP rises by N14 trillion under Sanwo-Olu’s administration
The Gross Domestic Product (GDP) of Lagos State has surged from N27 trillion to N41 trillion under Governor Babajide Sanwo-Olu’s administration, according to Deputy Governor Dr. Kadri Hamzat. This development was disclosed on Tuesday at the 9th Lagos Corporate Assembly (LCA) held at the Eko Hotels, where Hamzat represented Governor Sanwo-Olu. Addressing the forum themed “Unpacking Barriers to Ease of…
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Tinubu reforms to rejuvenate Nigeria’s economy, says Bagudu to UN
the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has urged the United Nations to be more deliberate in showing support for the Federal Government’s economic reforms, explaining that it would encourage other countries to make the adjustments required to guarantee sustainable growth and development Bagudu spoke on Tuesday in Abuja during a courtesy visit by the Deputy Director-General…
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SPEC engages WEF leaders on advancing Nigeria’s value chain localization, renewable energy
By Kunle Sanni The Special Presidential Envoy on Climate Action (SPEC), Ajuri Ngelale, hosted key representatives from the World Economic Forum (WEF) at the Presidential Villa to discuss Nigeria’s value chain localization initiative. The meeting which held on Monday, included Chido Muyati, Head of Africa at WEF, and Abir Ibrahim, Africa’s Regional Agenda Lead. A statement released after the meeting…
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Kalu meets Qingdao delegation, urges compliance with Nigerian labour laws
The Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Okezie Kalu, has called on offshore companies and foreign investors to adhere to Nigerian labour laws, aligning with international best practices. This appeal was made during a courtesy visit from a delegation of the Qingdao Municipal Council, China, led by Mr. Wang Luming, Chairman of the Standing Committee of…
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FG allocates N732.5bn for empowerment projects in 2024 Budget, higher than allocations for health projects
Tracka, BudgIT’s service delivery promotion platform has discovered N732.5 billion worth of empowerment projects in the 2024 Federal Government Capital and Constituency Projects, an amount higher than the N646.5 billion allocated to health projects. Head, Tracka, Ayomide Ladipo in a statement stated that despite the 2023 record of Nigeria having the second-highest child mortality rate in the world, the government…
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World Bank may approve $2bn loan for Nigeria, says report
The World Bank may approve four loan projects totalling $2 billion for Nigeria this year. A report by Nairametrics stated that the four projects are currently undergoing concept review, an appraisal stage that will lead to further negotiation and approval between Nigeria, which is the borrower and often represented by the Minister of Finance and the World Bank. If approved,…
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NNPCL inaugurates 12 CNG stations in Lagos, Abuja
The Nigerian National Petroleum Company Ltd (NNPCL) has said Compressed Natural Gas (CNG) is 40 per cent cheaper than Premium Motor Spirit (PMS) in Nigeria. Managing Director, NNPC Retail Limited, Huub Stokman, revealed this on Thursday while commissioning 12 Compressed Natural Gas (CNG) stations in Lagos and Abuja to reduce the cost of transportation in the country. Stokman also revealed…
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Samoa Agreement is strictly for economic development, says Bagudu
The Minister of Budget And Economic Planning, Mr. Atiku Bagudu has maintained that the recently signed Samoa agreement is strictly for the economic development, debunking widespread claims that it contains provisions for same-sex marriage. Speaking in defence of the agreement, the minister said there is nowhere in the document where same-sex marriage is mentioned. “The documents signed by the Federal…
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