Economy
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Itire-Ikate: Apatira empowers 349 skill acquisition graduands with working tools
The Chairman of Itire-Ikate Local Council Development Area (IILCDA) in Lagos state, Mr Ahmed Apatira, has empowered 349 students who graduated from the Council’s 4 weeks skill acquisition programme with working equipment worth millions of Naira. WesternPost reports that the skill acquisition programme comprises Catering, Tailoring, Makeup and Hairdressing. Over 75 students graduated from the tailoring department while 80 students,…
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Total Energies to invest $6bn in Nigeria’s deepwater, energy sector
Multinational energy company, Total Energies Worldwide, has announced plans to invest $6 billion in Nigeria’s deep water and gas production. The CEO, Patrick Pouyanne, made this announcement during an official visit to President Bola Ahmed Tinubu at the State House in Abuja. Pouyanne informed President Tinubu that Nigeria was “very important” for Total Energies, accounting for 8 to 10 percent…
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NASENI, Delta-2 partners sign $21.7m projects agreements
The National Agency for Science and Engineering Infrastructure (NASENI) has signed an agreement worth $21.7 million with eleven firms in Nigeria as beneficiaries for take-off of the Delta-2 Projects, being the outcome of the bilateral collaboration between the federal government of Nigeria and the Czech Republic. The Nigerian beneficiary companies are expected to come up with various products and services…
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BREAKING: Nigeria would start producing 2 million barrels per day from 2024, new NNPCL board assures Tinubu
The newly inaugurated board members of the Nigerian National Petroleum Company Limited have assured President Bola Tinubu of its commitment to increase the production of crude oil to 2 million barrels per day starting from next year. Pius Akinyelure the board chairman of the NNPCL said this on Monday while addressing State House reporters at the presidential Villa in Abuja.…
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NNPCL maintains December deadline for Port Harcourt refinery
The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to finish the mechanical work on the Port Harcourt Refinery Company (PHRC) by the end of December. The NNPCL Chief Communications Officer Olufemi Soneye said that the deadline was still valid and no changes had occurred. “We have said from time that by the end of December, the mechanical…
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Abiodun makes case for diversification of Nigeria’s economy to non-oil sector
Ogun State Governor, Prince Dapo Abiodun has said that Nigeria’s economy would be sustainable if attention is shifted from oil to the non oil sector. Abiodun said the nation could achieve this by diversifying into mineral resources, agriculture, manufacturing, tourism, and technology. Speaking at the 6th Senator Abiola Ajimobi Roundtable and 74th Posthumous Birthday, organized by the Senator Abiola Ajimobi…
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Lawmakers working hard to pass 2024 Appropriation Bill before new year- Obasa
The Speaker of the Lagos state House of Assembly, Rt (Hon) Mudashiru Obasa, has said the 2024 Appropriation Bill would be passed as new year gift to Lagosians. Obasa stated that the lawmakers were working on the Money Bill so as to approve it as soon as possible. The Speaker made this promise on Saturday at the ongoing 3-day budget…
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FG, states, LGs receive N1.088tn federation allocation for November
The Federation Account Allocation Committee (FAAC) has shared the sum of N1.088 trillion to the three tiers of government as Federation Allocation for the month of November. The amount was derived from a gross total of N1.62 trillion naira. The breakdown of the allocation shows that the Federal Government received N402.867 billion, the states received N351.697 billion, the local government…
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FG lauds Abiodun, says Agro Cargo airport will boost economy
By Kolawole Olayinka, Abeokuta The Minister of Finance and the Coordinating Minister for the Economy, Mr. Wale Edun has said the Ogun State Agro-Cargo Airport, when completed, would add value to the lives of the people and contribute to the rapid economic growth of the state and Nigeria. The Minister stated this while fielding questions from newsmen after being conducted…
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Inflation rate increases further to 28.20% in November, says NBS
The National Bureau of Statistics (NBS) on Friday disclosed that Nigeria’s inflation rate increased to 28.02 per cent in November 2023 from 27.33 per cent reported in October 2023. NBS in its Consumer Price Index (CPI) report noted that the movement in November 2023 headline inflation rate showed an increase of 0.87per cent points when compared to October 2023 headline…
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