Economy
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Mining financing, exports top solid minerals ministry, NEXIM Bank collaboration .
The Solid Minerals Development Ministry and the Nigerian Export-Import (NEXIM) bank have committed to strengthening partnerships to close the logistical gap hampering exports of solid minerals whilst leveraging the bank’s resources to bolster mining sector financing. Receiving the NEXIM Bank Managing Director, Abba Bello, in his office on Wednesday, the Minister of Solid Minerals Development, Dr. Dele Alake lauded the…
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CBN targets 21.4% inflation rate in 2024, says Cardoso
The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has disclosed that the apex bank in 2024 is targeting 21.4 per cent inflation rate. The National Bureau of Statistics (NBS) disclosed that Nigeria’s annual inflation rate rose to 28.92 per cent in December 2023 from 28.20 per cent in November 2023. Cardoso who was delivering his keynote address at…
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Customs PTML Command generates N256.3b in 2023
…makes seizures worth N158.4B The Nigeria Customs Service, Port Terminal Multiservice Limited (PTML) Command has generated N256,363,295,141.67 as revenue for 2023. Area Controller of the Command, Comptroller Saidu Yusuf, said the 2023 collection was N26,889,382,165 higher than the N229,473,912,976.97 generated in 2022, representing an increase of 12 percent. In a statement issued by the Command’s Public Relations Officer, CSC Muhammad…
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Dangote tops, Otedola returns to Forbes Africa’s billionaires list
The fortunes of Africa’s wealthiest people have rebounded slightly in the past 12 months, reversing the decline in their fortunes from a year ago, though they are still off their all-time highs. The 20 billionaires on the 2024 Forbes list of Africa’s Richest are worth a combined $82.4 billion. That’s up $900 million from last year’s $81.5 billion. All of…
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Ogun targets N240bn IGR in 2024- Commissioner
By Kolawole Olayinka, Abeokuta The Ogun state government is targeting N240 billion as Internally Generated Revenue in 2024. This was disclosed by the Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo during a comprehensive budget breakdown and media parley held in Abeokuta on Monday. WesternPost reports that the state’s overall budget for 2024 fiscal year is N703 billion.…
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Dangote Cement reaches N10trn in market cap
Dangote Cement Plc shares gained 9.99per cent on Monday to close with a share price of N592.60, thus reaching a market cap of N10.095 trillion, becoming the first Nigerian company to hit the historic milestone. In 2024, Dangote Cement has recorded a remarkable performance in the equities market, with a year-to-date return of 85.2per cent, moving from a share price…
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Tax reforms: Oyedele seeks training of ‘area boys’ for collection
The Federal Government should start implementing the tax reforms by March 2024, according to Taiwo Oyedele, the head of the presidential committee on fiscal policy and tax reforms. Oyedele told Channels Television in a recent interview that his team wants to engage all the relevant actors in the process — including the street thugs known as “Area Boys”. The committee…
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FG reviews recruitment guidelines in four paramilitary agencies, reserves slots for women
The Federal Government has reassessed the requirements for hiring into four paramilitary organisations, according to Interior Minister Olubunmi Tunji-Ojo. Tunji-Ojo made the announcement following a meeting with the Civil Defence, Correctional, Fire, and Immigration Services Boards (CDCFIB) in Abuja. The minister who was represented by Ja’afaru Ahmed, the board secretary, also announced that women will now be given preference for…
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Securing natural resources dominate Alake-led inter-ministerial parley
“We are here to deliberate on mainly the issue of security around Nigeria’s natural resources, as directed by the president. The president set up this committee. Solid minerals, marine economy, and forests all constitute Nigeria’s natural resources. So, all the relevant ministers are here to deliberate on how to efficiently and effectively curtail all the atrocious, nefarious activities of either…
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Dangote Petroleum Refinery registers MOMAN, IPMAN, DAPPMAN members for products distribution
Management of Dangote Petroleum Refinery has commenced registration of distributors for the lifting and distribution of refined petroleum products across the country. So far, members of three prominent associations, that constitute 75 per cent of the total market in Nigeria have been registered. The associations are the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), the Independent Petroleum Marketers…
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