Economy
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Ogun set to sign MoU with OPS on Olokola Deep Seaport
By Kolawole Olayinka, Abeokuta The Ogun state government and the Organised Private Sector (OPS) have concluded plans to sign a Memorandum of Understanding (MoU) on the construction of the Olokola Deep Seaport located in Ogun Waterside Local Government Area of the state. Governor Dapo Abiodun made this known during a breakfast meeting with Chief Executive Officers of the OPS in…
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Supreme court ruling: CBN directs Banks to issue, accept old, redesigned Naira banknotes
The Central Bank of Nigeria (CBN) has affirmed the Nigeria Supreme Court’s ruling on Wednesday that the Old Naira notes will remain legal tender of the country till further notice. The apex bank in a statement also directed banks to comply with this ruling to issue and accept old notes alongside the redesigned indefinitely. The acting director, Corporate Communications department,…
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FG, US hold talks on funding mining projects in Nigeria
On the sidelines of the Mines & Money conference holding in London, Minister of Solid Minerals Development, Dr. Oladele Alake and United States Assistant Secretary for Energy and Natural Resources Geoffrey Pratt agreed to set up a team of officials of both countries to explore financing for credit to mining firms and infrastructures. Pratt said his visit to Alake followed…
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IMO: Oyetola holds bilateral talks with Saudi Arabia, Bangladesh, Brazil, Jamaica
…as Nigeria sets to sign MoU with Saudi Arabia The minister of Marine and Blue Economy, Adegboyega Oyetola, on Tuesday, continued bilateral discussions with ministers and representatives from the Kingdom of Saudi Arabia, Bangladesh, Brazil and Jamaica, expressing Nigeria’s government interest in learning from their knowledge and experiences. This was revealed through his media aide, Ismail Omipidan, in a statement…
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FG woos foreign mining investors with lower production cost
Cutting red tapes which slow business transactions and improving the security of mining operations are among fresh commitments unfolded by Nigeria’s Minister of Solid Minerals Development, Dr. Oladele Alake at the Mines & Money Conference which opened in London, United Kingdom on Tuesday. Addressing global stakeholders in the mining industry, Alake, in the 15-minute speech pitched for more investment in…
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Tinubu asks Senate to approve $8.69bn, €100m external loan
President Bola Tinubu, on Tuesday called upon the Senate to deliberate and grant approval for his request to secure a loan amounting to $8,699,168,559 and €100 million. This forms part of the 2022 – 2024 external borrowing plan envisioned by the federal government. Senate President Godswill Akpabio read Tinubu’s letter of request during the plenary session. The president highlighted that…
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Air Nigeria: How ex-aviation Minister, Hadi Sirika almost created a monopoly for Ethiopian Airline – Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo, has revealed how his predecessor, Hadi Sirika, attempted to create a free economic advantage for the Ethiopian airline in achieving the National courier, Air Nigeria. Keyamo accused Sirika of signing a controversial agreement with the African air giants in a manner he said would have crashed other local airlines in Nigeria.…
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Court rulings from Nigeria can affect, foreign investments, Cardoso warns judiciary institutions
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says that rulings given by a number of Nigerian courts have a direct bearing on foreign direct investment (FDI) into the country. Cardoso revealed this on Monday in Abuja during the 22nd National Seminar for Judges on Banking and Related Topics, which was hosted by the National Judicial Institute…
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NCAA suspends all wet-leased aircraft in United Nigeria Airlines
The Nigeria Civil Aviation Authority (NCAA) has suspended all the wet-leased aircraft in the operations of United Nigeria Airlines (UNA). The suspension may not be unconnected with the diversion of the Abuja-bound flight from Lagos to Asaba Airport on Sunday by the cabin crew of the airline. A source close to the agency, confided in our correspondent on Monday that…
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At IMO General Assembly, Oyetola restates FG’s commitment to reposition maritime sector
reveals Nigeria’s intent to seek election into IMO Council in 2025 Minister of Marine and Blue Economy, Adegboyega Oyetola, has restated the commitment of President Bola Tinubu’s administration to reposition the nation’s maritime sector in line with its agenda for economic growth and development. He disclosed that his ministry had already mapped out plans on how to revamp the maritime…
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