Economy
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Senate charges CBN on statutory reporting compliance
The Nigerian Senate has tasked the Central Bank of Nigeria, (CBN) and its subsidiaries such as the Nigerian Security Printing and Minting PLC, NIRSAL Plc, NIRSAL Microfinance Bank on strict compliance with the Central Bank of Nigeria Act 2007 and the Senate Standing Orders 2023 (as amended). This was made known during the interactive session and statutory briefing of the…
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Alake, Badaru finetune plans to secure mining sited
The Minister of Solid Minerals Development, Dr. Dele Alake and his defence counterpart, Abubakar Badaru, are putting finishing touches to plans to secure mining areas in the country. For the second time in less than three weeks, Badaru came calling at the minister’s office on Thursday, where they headed straight into a closed door meeting. Emerging from the meeting, Badaru…
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FG tightens noose on unregistered mining professionals
In a bid to curb the menace of unregistered mining engineers, the Federal Government has said it would henceforth process proposals for solid minerals investment from members of the Council of Nigerian Mining Engineers and Geoscientists (COMEG), in recognition of their critical role in the sector. In a landmark endorsement, the minister declared that all reports coming to the ministry…
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Keyamo orders sacked FAAN, NiMet, NCAA bosses to hand over to most senior officers
Aviation minister Festus Keyamo has ordered sacked directors of agencies in his ministry to hand over to the most senior officers. He said this in a statement signed by the ministry’s spokesperson, Odutayo Oluseyi, on Thursday. Keyamo said the action was to effect reorganisation in the agencies under the ministry. According to him, the directors of the affected agencies are…
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2024 budget estimate: Kwara to spend N116bn on recurrent, pegs GDP growth at 3.76%
By Mosunmola Ayobami,Ilorin Kwara state government would be spending the total sum of N116bn on recurrent expenditure amidst high inflation in the 2024 fiscal year. This was contained in the 2024 Appropriation Bill presenting by Governor AbdulRahman AbdulRazaq before the House of Assembly on Thursday. The budget proposal was predicated on the estimated crude oil price of $77.96; daily oil…
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Transparency shall be our bedrock in telecom regulation – Maida
…visits Minister to discuss priority areas The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has pledged that transparency will form the bedrock of his leadership as Nigeria’s chief telecom regulator as this will enable a solid foundation in building a resilient, accountable and efficient institution. Maida spoke during a courtesy visit to the Minister of…
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Developing countries paid record $443.5bn on public debt in 2022, World Bank reveals
…poorest countries face risk of debt crises as borrowing costs surge Amid the biggest surge in global interest rates in four decades, developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022, the World Bank’s latest International Debt Report shows. The increase in costs shifted scarce resources away from critical needs such…
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IFC to advise Nigeria on aviation infrastructure development
The Federal Ministry of Aviation and Aerospace Development has received a proposal from the International Financial Corporation (IFC) to serve as a Transaction Advisor for its ambitious infrastructure development initiatives. The IFC, a member of the World Bank Group, is a global leader in Public Private Partnerships (PPPs) advisory, with a proven track record of delivering successful transactions in various…
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Shettima pledges more support for Nigeria’s creative industry under iDICE programme
Vice President Kashim Shettima has thrown his weight behind the burgeoning Nigerian creative and entertainment industry, pledging substantial support through the Investment in Digital and Creative Enterprises (iDICE) programme. Speaking at a meeting with key industry stakeholders led by the Minister of Art, Culture, and Creative Economy, Hannatu Musawa at the Presidential Villa, Shettima hailed the sector as “central to…
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Tinubu reshuffles leadership structure in aviation sector
President Bola Tinubu has suspended several administrators and executive officers under the Federal Ministry of Aviation and Aerospace Development. According to a statement by the Special Adviser to the President on Media and Publicity Ajuri Ngelale, the directive was in line with his determination to bring world class standards to Nigerian Civil Aviation in consumer protection and the promotion of…
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