Economy
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‘You can make it in Nigeria,’ Fashola advises young people against ‘Japa’
Babatunde Fashola, former governor of Lagos, has asked Nigerian youths to remain in the country despite economic challenges. In recent times, there has been a wave of migration by Nigerians who are seeking greener pastures abroad. “Japa” is a popular word used to describe migration in the country. Speaking on Saturday at the combined 8th and 9th convocation ceremonies of…
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FCT, States’ domestic debt grew by N198.96bn in three months ,says DMO
The domestic debt of Nigeria’s 36 states and the Federal Capital Territory (FCT) increased by N198.96 billion within three months. This is according to the latest subnational debt report from the Debt Management Office (DMO). The total domestic debt of states and the FCT rose by five per cent from N4.07 trillion in March 2024 to N4.27 trillion by June…
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FX amnesty: DMBs can trade with deposited foreign currencies, says CBN
The Central Bank of Nigeria (CBN) has permitted Deposit Money Banks (DMBs) to trade with foreign currencies deposited under the amnesty initiative for the foreign exchange (FX) deposit window. CBN gave the directive in a document dated November 5, signed by John Sonojah, its acting director, financial policy and regulation department and Adetona Adedeji, its acting director, banking supervision department.…
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National Grid: Obi asks FG to tackle power crisis
Former presidential candidate of the Labour Party (LP), Peter Obi, has raised concerns about the ongoing power crisis following another collapse of the national grid. It would be recalled that Nigerians were on Tuesday plunged into darkness following another collapse of the national power grid. Since January 2024 till date, the grid has collapsed 10 times. Within one week in…
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PHOTO : NNPC joins global energy leaders to discuss decarbonising oprations in oil & gas sector
On the second day of the Abu Dhabi International Petroleum Exhibition & Conference, NNPC Ltd.’s Executive Vice President Upstream, Mrs. Oritsemeyiwa Eyesan joined global energy leaders to discuss the theme “Decarbonising Operations across Upstream, Midstream and Downstream”. In her submission, Eyesan highlighted Africa’s twin challenge of decarbonisation and energy poverty, stressing that to address that, Nigeria has launched several initiatives…
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FG directs Julius Berger to leave Abuja-Kaduna-Zaria road project site
The Federal Ministry of Works has directed Julius Berger, the contractor handling Section One rehabilitation of the Abuja-Kaduna-Zaria-Kano Dual Carriageway, to evacuate the project site. This followed a 14-day final termination notice issued to the company on Monday, dismissing any possibility of further negotiations. The ministry said the termination was based on non-compliance with the reviewed cost, scope, and terms,…
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2024 States Performance: BudgIT ranks Rivers, Lagos, Ogun higher on index A
A leading socioeconomic and civic organisation, BudgIT Research, has adjudged River, Lagos and Ogun State higher on the State of States Performance on Index A among the 36 States of the federation. Rivers tops the list with 0.82, followed by Lagos State, 0.84 as Ogun State came third with 1.48. The organization said on its website: “States that rank higher…
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Economic recovery within reach for future generations, says Tinubu
By Kunle Sanni President Bola Tinubu has affirmed that Nigeria’s economic recovery is “on the horizon,” emphasizing the government’s commitment to fostering prosperity for current and future generations. Speaking on Monday at the swearing-in ceremony of seven newly appointed ministers in Abuja, Tinubu highlighted his administration’s focus on addressing economic and security challenges. “These efforts are not just for us;…
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Uzoka-Anite resumes at Finance Ministry as Minister of State
In a significant step forward for Nigeria’s economic reforms, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Monday welcomed Dr. Doris Nkiruka Uzoka-Anite to the Federal Ministry of Finance Headquarters, Abuja, as she officially resumes duty as the newly appointed Minister of State for Finance by President Bola Tinubu, following a recent Cabinet Reshuffle…
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FCCPC vows to protect rights of PWDs
The Federal Competition and Consumer Protection Council has vowed to protect the rights of the Persons with Disabilities (PWDs), promising to do all within its powers to ensure the rights and inclusiveness of all Nigerians. The council’s Deputy Director of Consumer and Business Education, Nwafor Anthony, stated this Monday in Abuja while speaking at a policy roundtable on financial inclusion…
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