Economy
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Nigeria set to lead $7.7 trillion global halal market, says VP Shettima
By Kunle Sanni Vice President Kashim Shettima has projected that Nigeria will emerge as a leading hub in the global halal economy, a market expected to reach $7.7 trillion by 2025. Speaking at the Halal Economy Stakeholders Engagement Programme held at the Banquet Hall of the Presidential Villa, Abuja, Shettima highlighted the country’s economic and demographic strengths, positioning Nigeria for…
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Nigeria aims to become Africa’s air transport hub, says Aviation Minister
Nigeria is strategically positioned to become Africa’s leading air transportation hub, according to Festus Keyamo, Minister of Aviation and Aerospace Development. Speaking at the International Route Development Conference, Network Cargo 2024, held in Moscow, Russia, Keyamo emphasized the country’s unique geographical advantage and its vast untapped aviation potential. The conference, which gathered transport ministers and industry leaders from across the…
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Capital Market crucial to Nigeria’s Trillion-Dollar economy target, says VP Shettima
By Kunle Sanni Vice President Kashim Shettima has emphasized the pivotal role the Nigerian capital market must play in the Tinubu administration’s goal of building a trillion-dollar economy. Speaking on Tuesday during a courtesy visit by executive members of the Association of Capital Market Academics of Nigeria (ACMAN) at the Presidential Villa, Shettima stressed the importance of knowledge and expertise…
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VP Shettima assures airline operators of improved working conditions
Signing of CTC Practice Directions will transform Nigeria into Africa’s economic powerhouse – Onyema By Kunle Sanni Vice President Kashim Shettima has reaffirmed the federal government’s commitment to improving the operating environment for airlines in Nigeria’s aviation sector. This pledge follows the recent signing of the Cape Town Convention (CTC) Practice Directions. Shettima described the signing of the CTC Practice…
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Ogun partners UK to boost manufacturing sector
The Ogun State government, through the State Investment Promotion and Facilitation Agency (Oguninvest), will be collaborating with the Manufacturing Africa programme, an initiative of the UK government through its Foreign, Commonwealth and Development Office (FCDO) at the British High Commission, and Hinckley E-Waste Recycling Ltd towards a vibrant manufacturing sector in the state. According to the State government, there will…
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Dangote Refinery still in its pre-commissioning phase, yet to be fully licensed, says NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that Dangote Refinery is still in its pre-commissioning phase and has yet to receive a full operational licence. This is coming at a time Danote Refinery and Nigerian National Petroleum Company Limited (NNPCL) contending Premium Motor Spirit (PMS) or petrol price The update comes amid high expectations for the…
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FG to tap into $7 trillion global Halal market
… targets $1.5bn GDP boost by 2027 By Kunle Sanni The Nigerian government is set to launch a comprehensive strategy on Wednesday aimed at positioning the country as a key player in the $7 trillion global Halal market. This initiative is part of efforts to diversify the economy and harness the potential of the fast-growing Halal industry, which includes products…
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NNPCL to sell petrol at N950/litre in Lagos, environs
The Nigerian National Petroleum Company Limited, NNPCL, has released estimated pump prices of Premium Motor Spirit, PMS also known as petrol, obtained from the Dangote Refinery, across its retail stations nationwide. In a statement issued on Monday by NNPCL Chief Corporate Communications Officer, Olufemi Soneye, the company clarified that PMS prices are not set by the government but negotiated directly…
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Nigeria’s inflation rate drops to 32.15% in August 2024, says NBS
The Consumer Price Index (CPI) which measures change in prices of goods and commodities declined to 32.15 per cent in August compared to 33.40 per cent in the preceding month, the National Bureau of Statistics (NBS) said Monday. The NBS attributed the 1.25 per cent drop in the headline index to moderation in food and commodity prices. According to the…
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NNPCL insists paying N898/litre to buy petrol at Dangote Refinery
The Nigerian National Petroleum Company Limited (NNPCL) has insisted that it bought petrol or Premium Motor Spirit (PMS) at N898 per litre from the Dangote Refinery. The report obtained by WESTERN POST revealed that NNPCL as of September 13, 2024 bought petrol at $690/MT and $0.52/litre, which is an equivalent of N842.61 per litre. The premium price at $46/MT and…
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