Business

Monetary and regulatory authorities in Nigeria have been enjoined to roll out policies that would bring down the inflation rate in the country as well as increase access to domestic funds in order to ensure that the economy attains further growth in 2018, adding that Nigeria is still an investor’s destination. The call was made by Senior Financial Sector Expert, …

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The Nigerian National Petroleum Corporation (NNPC) would continue to offer unflinching supports to indigenous private investors in the nation’s Oil & Gas Industry. Group Managing Director of the Corporation, Dr. Maikanti Baru, gave this assurance while speaking at the official commissioning of an ultra-modern 300 million-litre capacity tank farm built by a local private investor, Petrolex, at Ibefun, Ogun State. …

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The minister of transportation, Rotimi Amaechi recently said former President Goodluck Jonathan could not account for the $65 billion left in the excess crude account by President Olusegun Obasanjo. “When Obasanjo was leaving, he left about 65 billion dollars in the excess crude account, but this money was frittered away and we wonder where the money is,” he said. “As …

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At least 20 vehicles and four commercial motorcycles got burnt when a tanker laden with petrol fell and spilled its content on the Festac Link Bridge in Awuwo Odofin LGA of Lagos state. The fire, which started at noon on Wednesday, raged for about an hour. Firefighters arrived at the scene about 30 minutes later but did not enough have water …

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Labour matters command a very high priority in the administration of President Muhammadu Buhari, Budget and National Planning Minister, Senator Udoma Udo Udoma told a team from the International Labour Organization (ILO) which visited him in Abuja. The team, led by the Assistant Director of ILO who is also the Regional Director for Africa, Ms Cynthia Samuel-Olajuwon, was in the …

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A former Facebook executive has admitted that he bans his children from using the site – saying he feels ‘tremendous guilt’ for his part in creating the service now used by billions of people. Chamath Palihapitiya, former vice president for user growth, said, “We have created tools that are ripping apart the social fabric of how society works.” He had …

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The Central Bank of Nigeria (CBN)  said on Tuesday it had injected 210 million dollars into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.  In a statement, the bank said it had released 100 million dollars earmarked for the wholesale market, 55 million dollars for small businesses and individuals, and 55 million dollars for certain dollar …

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Barely two months after entering the ride hailing space in Nigeria, Alpha1 Rides has received recognition as it bagged two awards within three days. The awards were presented by students associations in the University of Lagos (UNILAG) on their widely popular Dinner Nights. Held at the Ostra Event Centre, the first award was presented by the Faculty of Arts on …

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The Debt Management Office has stated that the N198.032 billion Nigerian Treasury Bills (NTBs) which will mature in December 2017 will be repaid in full at maturity. Details provided by the DMO show that N131.415 billion and N66.617 billion of NTBs will mature on December 14, 2017 and December 21, 2017 respectively. Before now, the practice was to rollover NTBs …

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Budget and National Planning Minister, Senator Udoma Udo Udoma has told a delegation of French businessmen that Nigeria’s priority is to create a better environment for businesses to thrive, as the country is focused on expanding the productive base of the economy. While receiving the delegation which was accompanied by the French Ambassador to Nigeria, His Excellency Denys Gauer, in …

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