Economy
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In negotiation with German Chancellor, Tinubu seeks Siemens’ support for power, rail
President Bola Tinubu advanced negotiations with German investors on critical growth-enabling industries in energy, transportation, and electric power production, transmission, and distribution at the G20 Compact with Africa Economic Conference held in Berlin, the German capital, on Monday. In a statement signed on Monday, Ajuri Ngelale stated that President Tinubu’s economic engagement was greeted on the sidelines after he met…
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Nigeria witnessed revenue growth after subsidy removal – Edun
The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy from an average of N650 million monthly to over N1 trillion in the last four months. The minister stated this on Monday in Asaba at the opening ceremony of a four-day retreat organised for members of the Federation…
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Ogun begins second phase disbursement of Abiodun’s N1bn grant to micro, small enterprises
By Kolawole Olayinka, Abeokuta The Ogun State Government has commenced the second phase of the disbursement of the N1 billion grant to micro and small enterprises (MSEs). The initiative aims to alleviate poverty and mitigate the impact of COVID-19 on businesses in the state. Commissioner for Industry, Trade, and Investment and a member of the Ogun State COVID-19 Action Recovery…
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Ekiti to contribute immensely to mining sector development – Alake
Minister of Solid Minerals Development, Dele Alake, has stated Ekiti State will contribute significantly to the Federal Government’s quest to make solid minerals, a major revenue earner for the nation. Alake said this when he played host to Ekiti State Governor, Biodun Oyebanji, in his office. The minister cited the preponderance of natural resources, including solid minerals in Ekiti State.…
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Tanker drivers begin nationwide protest, threaten to exit NUPENG
The Petroleum Tanker Drivers (PTD) have threatened to exit its umbrella body, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), if its President Williams Akporeha and General-Secretary, Afoloabi Olawale, did not resign. Mr Gbenga Olawale, an Ex-Officio of the PTD from Ibadan depot, said in a statement on Sunday that their members would begin a nationwide protest to…
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Excellent quality of service non-negotiable in telecom industry – Maida
The Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission (NCC), Dr. Aminu Maida has said that quality of service in the telecommunications sector is non-negotiable as he called for industry collaboration to make this a reality. Maida, who spoke in Lagos at an interactive session with chief executive officers in the industry on Thursday, assured of collaborations within…
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Abiodun woos foreign investors, says Ogun is investment friendly
By Kolawole Olayinka, Abeokuta Ogun State Governor, Prince Dapo Abiodun, has called on foreign businesses to make the state destination of choice for investment in Nigeria. Abiodun, while speaking as guest on CNBC Africa at the weekend on the sidelines of the Intra-African Trade Fair, put together by Afreximbank, in Cairo, Egypt, said Ogun State has put everything in place…
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Subsidy removal, FX unification could fuel Nigeria’s economic growth, says Morgan Stanley
Morgan Stanley has revealed that President Bola Tinubu’s policies that put an end to fuel subsidies and the unification of the naira’s exchange rate, could fuel economic growth for Nigeria. This declaration is contained in a recently published article titled, “Investment Outlook: Nigeria’s New Dawn” on the website of the American multinational investment banking firm. According to the report by…
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Ogun, three other states benefit from N500bn Afreximbank support fund
By Kolawole Olayinka, Abeokuta Ogun State is to benefit from a N500 billion financial support being packaged by the African Export-Import Bank (Afreximbank) in conjunction with Access Bank. The Gateway state is to benefit from the fund along with three other states in the country. This was disclosed in Cairo, Egypt by Governor Dapo Abiodun, while speaking at the end…
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Tinubu’s reforms will yield positive outcome, says Sanwo-Olu
Lagos State Governor Babajide Sanwo-Olu has assured the global investment community that positive results will come out of the economic reforms implemented by President Bola Tinubu. Sanwo-Olu said the decision by the Tinubu administration to remove fuel subsidy was courageous, aadding that it was neccessary to save Nigeria’s economy from the edge of catastrophe. He said although the policy led…
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