Business

The Debt Management Office (DMO), on Wednesday August 29, 2018 put Nigeria’s external debt stock at $22billion. Out of the amount, the Federal Government’s quotient is $17.8 billion, while the combined debt portfolio by the states and the Federal Capital Territory (FCT) stands at $4.28 billion. Of the combined states’ figure, Lagos State, the commercial nerve-centre of Nigeria, has the …

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British Prime Minister, Theresa May, has revealed that the Lagos State Government can explore the export credit finance to the tune of £750 million (pounds) which the UK government has in place for considerable development finance. May disclosed this at a meeting with the Lagos State Governor, Mr Akinwunmi Ambode in Lagos on Wednesday. The British PM who said she …

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The Central Bank of Nigeria (CBN) has directed four banks to refund N5.87 billion for allegedly exporting forex illegally. Making the announcement in Abuja on Wednesday, CBN also said MTN had been asked to refund $8 billion to the apex bank. Citibank, Stanbic IBTC Nigeria, Standard Chartered Bank and Diamond Bank,  are the affected banks, with Standard Chartered Bank receiving the …

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Executive Director of the Dangote Group, Hajiya Halima Aliko-Dangote has urged millennials in Nigeria and across Africa to diversify from service-oriented enterprises to manufacturing and agriculture in a bid to fast-track the development of the continent and better life for its nationals.   Halima Dangote said that the economic realities around the world have shown that the way to go is …

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The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele; Chairman, UBA, Heirs Holdings and Transcorp, Mr. Tony Elumelu and International Monetary Fund (IMF) Country Chief, Mr. Amine Mati  are among the dignitaries who have confirmed their attendance at  the 2018 Financial Markets Conference of the Financial Markets Dealers Association (FMDA). The event scheduled to hold at the prestigious Eko …

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The Ebosele family of Atuagbo, Irrua, Esan Central Local Government Area of Edo State has announced the passing of their Father, Grand Father, Husband, Uncle and Brother, Pa Luke Ebosele at the age of 89 years. A press statement issued on behalf of the family by one of his sons and Publisher of City BusinessNews, Moses Ebosele explained that Pa …

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French energy major Total has decided to sell its 26 per cent  equity stake in Hazira LNG regasification terminal in India to Shell which holds 74 per cent  in the facility. The duo signed a binding Letter of Intent (LOI) for the sale, which is subject to the approval of regulatory authorities. In parallel, Total has signed an agreement to sell 0.5 million …

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The African Development Bank and Food and Agricultural Organisation are set to raise $100m for agriculture in a bid to end hunger and malnutrition and create wealth in Nigeria and other African countries. In a statement issued on Tuesday, the AfDB said both organisations would work together in strategic alliance to raise funds to promote food security, sustainable agriculture and …

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Nigerian National Petroleum Corporation says it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day. The corporation disclosed this in a statement signed by its spokesman, Mr Ndu Ughamadu, in Abuja on Tuesday. Ughamadu said the refineries would be located at the Western Forcados Area and Assah North Ohaji South ANOH) Areas of Delta …

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….Says Cancer centre in honour of late Mrs. Dickson to be launched soon By Amos Odeh The Bayelsa State Commissioner for Information and Orientation, Daniel Iworiso-Markson said preparations are in top gear for the launching of the Henry Seriake Dickson Foundation, Cancer Centre and Henry Seriake Dickson Institute. Iworiso-Markson disclosed this in Toru-Orua, Sagbama local government area of Bayelsa State …

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