Economy
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Tinubu’s policy on unification of Exchange rate difficult but necessary- Bill Gate
Kunle Sanni American billionaire, Bill Gates has praised the unification of exchange rate policy by the current administration of President Bola Tinubu, describing it as a difficult initiative but necessary. Gates said this on Wednesday while delivering his remarks to the National Economic Council, NEC meeting held at the Council Chambers. The meeting which was presided over by Vice President…
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NNPC hike in price of petrol may worsen inflation, hurt businesses, say MAN, LCCI
The Manufacturers Association of Nigeria (MAN) has said the recent petrol price hike by Nigerian National Petroleum Company (NNPC) Limited may result in an increase in the prices of goods and transport fares. The director-general (DG) of MAN, Segun Ajayi-Kadir spoke in an interview with NAN on Wednesday in Lagos. He expressed concern about the potential impacts the policy could…
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Digital Exchanges: Innovation ‘ll attract more youths to capital market, says SEC
The Securities and Exchange Commission (SEC) has emphasised that the approval-in-principle granted to two crypto exchanges recently is in line with the Commission’s desire to ensure that youths in Nigeria are given the opportunity to participate in the capital market. Director General of the SEC, Dr. Emomotimi Agama who stated this during a meeting in Abuja Wednesday, said that in…
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Customs commences administration of rewards to AEO program beneficiaries
In an attempt to intensify its effort to enhance the ease of doing business for compliant stakeholders , the Nigeria Customs Service (NCS) on Wednesday said it has commenced administration for first set of Authorized Economic Operators (AEO) programme beneficiaries. Customs in a statement stated that the beneficiaries of the exercise that commenced September 2, 2024 include: Importers, Exporters, SMEs,…
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Nigeria has prospect of becoming net exporter of food- Bill Gates
American billionaire philanthropist Bill Gates said Nigeria has the prospect of becoming a net exporter of food given the vast land and soil type in the country. The co-chair of the Bill and Melinda Gates Foundation spoke on Tuesday at the Nutrivision 2024, a pan-African youth dialogue on nutrition in Nigeria’s capital city, Abuja. Gates was answering a question on…
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Increasing agricultural productivity will reduce malnutrition in Nigeria- Bill Gates
Microsoft Co-founder, Bill Gates, has said that improving productivity in agriculture will help in solving the problem of malnutrition in the world, especially in Sub-Saharan Africa. Gates, who is a Co-Chair of Bill & Melinda Gates Foundation, said this on Tuesday at the Nutrivision 2024, a Pan-African Youth Dialogue on Nutrition at Nile University Abuja. He stressed that making food…
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VAT: Oyedele committee offers exemption of businesses with N50m annual revenue
Chairman of the presidential fiscal policy and tax reforms committee, Taiwo Oyedele has said the committee has proposed significant tax exemptions for small businesses in Nigeria. Speaking in an interview on Channels Television recently, Oyedele detailed the government’s commitment to supporting small businesses by raising the turnover threshold for tax exemptions. Under the new proposals, Oyedele said businesses with an…
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NNPC admits having financial constraints due to subsidy on petrol, says Presidential aide
The special adviser on information and strategy to President Bola Tinubu, Bayo Onanuga said the Nigerian National Petroleum Company (NNPC) Limited admitted to having financial constraints because it can no longer subsidise petrol. In an X post on Tuesday, Onanuga said if NNPC continues to pay the differences in landing cost and petrol price, the national oil company will go…
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Sigh of relief as Dangote Refinery launches Euro-V petrol
…Promises no more importation of polypropylene as from October For the first time, Nigerians will gain a clear understanding of the country’s actual fuel consumption, according to Aliko Dangote, President of Dangote Group. This announcement comes as Dangote officially confirmed the rollout of Premium Motor Spirit (PMS), commonly known as petrol, from the world’s largest single-train refinery with a capacity…
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