Economy
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Telecom sector’s survival depends on govt. support, experts warn
Nigeria’s economic experts and stakeholders in the telecom industry have sounded the alarm, warning that the sector’s decline could have far-reaching consequences for the country’s economic growth and development. At a breakfast session hosted by the Lagos Business School, Pan-Atlantic University recently, leading voices in the private sector gathered to discuss the theme “Telecom Sector: The Fulcrum for Economic Dynamism…
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NCS seizes pangolin scales worth N3.9bn in kebbi
The Federal Operations Unit Zone B of the Nigeria Customs Service, says it has intercepted pangolin scales worth N3.9 billion Duty Paid Value from smugglers during an operation in Kebbi State. The Comptroller of the Federal Operations Unit, Ahmadu Bello-Shuaibu who disclosed on Wednesday at the unit’s headquarters in Kaduna State, said the Customs operatives acting on actionable intelligence, stormed…
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BREAKING: Tinubu issues Executive Order to stop payment of taxes, levies in Dollar
President Bola Ahmed Tinubu has issued an executive order to discontinue the payment of taxes and levies in foreign currency. This is to reduce the pressure on the Naira. The Order also mandates that all levels of government and their agencies prioritize the procurement of Made in Nigeria goods and services. The Executive Order, titled the Inflation Reduction and Price…
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EET presents emergency plan for economic stability, restore confidence to Tinubu
The Economic Management Team’s Emergency Taskforce (EET), on Wednesday presented plan for economy stability to President Bola Tinubu in Abuja. The proposed emergency package, the Accelerated Stabilisation and Actualisation Plan, was presented to Tinubu at the Presidential Villa, State House, Abuja by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun. Director, Information and Public…
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INTERVIEW: Our economic reforms will yield long term benefits, says Wale Edun
As the present administration marks one year in office, reactions trails the various reforms introduced in the past one year under President Bola Ahmed Tinubu especially, the economic reforms which have left the majority of Nigerians in deeper economic austerity. Inflation is currently over 30 per cent and there are possibilities of it soaring higher. Naira value has plummeted after…
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FG to commission Kwale gas June 6
By Innocent Raphael The Federal Government has scheduled the technical commissioning of the 300MMscfd Kwale gas gathering and injection facility in the Niger Delta for June 6, 2024. This announcement follows a delay caused by a nationwide industrial strike by the Labour Unions. Located in the Umusam Community near Kwale, Delta State, the facility is a joint venture involving Nedogas…
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Banks shutdown in Lagos over nationwide strike
The Nigeria Labour Union (NLC) on Monday disrupted banking activities in Lagos to enforce with the directive of an indefinite nationwide strike. As gathered by WESTERNPOST, Nigerian Exchange Limited (NGX) shut down its office on Marina, as activities was ongoing at Central Bank of Nigeria (CBN) Lagos office. Members of the unions shut some banks around Marina, Lagos in a…
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Labour strike grounds technical commissioning of 300MMscfd capacity Kwale Gas
The indefinite nationwide strike directed by the leadership of the Organised Labour, has grounded the technical commissioning of the 300MMscfd capacity Kwale Gas Gathering and injection facility by the Federal Government. A statement by the Nigerian Content Development Monitoring Board (NCDMB) said the formal commissioning ceremony of the facility, initially slated to be performed by the Minister of State for…
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Increase in GDP must translate to job creation, says Adesina
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina says an increase in the Gross Domestic Product (GDP) must translate to job creation for youths to ensure growth on the continent. Adesina said this at a presentation on the African Economic Outlook held on the sidelines of the ongoing 2024 Annual Meetings in Nairobi. The AfDB president dismissed…
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NASENI inaugurates CNG conversion, training centre in Abuja
By Innocent Raphael The National Agency for Science and Engineering Infrastructure (Naseni) has inaugurated its Compressed Natural Gas (CNG) Conversion and Training Centre in Abuja. The event, held on Friday, marked a significant step towards Nigeria’s commitment to sustainable energy solutions and economic diversification. Senate President, Senator Godswill Akpabio, representing President Bola Ahmed Tinubu at the ceremony, highlighted the importance…
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