Business

 The Minister of Budget and National Planning, Senator Udoma Udo Udoma, on Tuesday drew attention to the dangers of uncontrolled population growth on the economy and emphasised the need to generate national support for measures that can help moderate the rapid rate of population growth in the country. Senator Udoma who chaired the session on “Sustainable development” at the 58th Annual General Meeting …

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In line with its tradition of deepening the savings culture by rewarding and encouraging its loyal customers, UBA has launched a new savings promo, UBA Wise Savers Promo. The promo which is scheduled to run till September 30, 2019, will give 80 people a whooping N1.5 million  each across all participating regions. The objective is intended to assist in growing the …

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Oando Plc is looking to boost crude output from next year as the Nigerian producer breaks the back of a $2.5 billion debt burden built up through the 2014 acquisition of oil and gas assets from U.S. giant ConocoPhillips. The borrowings will be almost 90 percent lower by the third quarter of 2019 and the company is now preparing for its …

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A former Vice-President, Alhaji Atiku Abubakar, on Tuesday, countered President Muhammadu Buhari’s stance on the restructuring of the country, saying there was no alternative to restructuring if Nigeria must make progress. Atiku stated that he remained resolute in his support for the restructuring of the country, positing that there was “too much power” in the hands of the Federal Government, …

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Rear Admiral Mathew Emuekpere, the Flag Officer Commanding, Eastern Naval Command, Nigerian Navy, said the command seized over 13,803 bags of smuggled rice valued at N220.8 million in the past seven months. Emuekpere disclosed this on Tuesday in Calabar, Cross River, during the handing over of the command’s leadership to his successor, Rear Admiral David Adeniran. He said the rice …

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Theresa May, prime minister of the United Kingdom, says Nigeria is home to the highest number of “very poor people” in the world. Speaking in Cape Town, South Africa, on Tuesday, May said Africa is home to a majority of the world’s fragile states, and a quarter of the world’s displaced people. She added that Africa has the highest number of …

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United Kingdom said it has repatriated £70 million stolen by an unnamed Nigerian citizen who was convicted in an Italian court. British High Commissioner to Nigeria, Mr Paul Arkwright, who revealed this to reporters in Abuja on Monday, however, declined to disclose the identity of the person involved in the offence. He said, “There was an Italian court case with …

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Stanbic IBTC Capital and Stanbic IBTC Bank, subsidiaries of Stanbic IBTC Holdings PLC, have partnered with Dangote Cement Plc, Africa’s largest cement producer, to conclude yet another issuance of N50 billion Series 3 and 4 Notes, under the recently established Dangote Cement PLC’s N150 billion CP Programme. Issuance of the Series 3 and 4 Notes closed on Friday 17 August …

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Trade import and export volumes between China and countries from Africa reached 116 billion dollars in the first seven months of 2018 – up 18.7 per cent year-on-year. China’s exports to Africa were worth 59.36 billion dollars – an increase of 8.8 percent compared to last year – while its import volume rose 31.3 per cent to stand at 56.81billion …

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The National Bureau of Statistics (NBS) just released Nigeria’s half year 2018 GDP figure, showing that the domestic economy expanded for the fifth consecutive quarter, with real GDP growing by 1.50 percent year on year as against 1.95 percent year on year in the previous quarter and 0.72 percent year on year in second quarter of 2017. The growth estimate …

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