Business

The Senate has invited the Minister of Finance, Mrs. Kemi Adeosun, and Minister of Budget and National Planning, Senator Udo Udoma, to brief it on the implementation of the 2017 Appropriation Act. The upper chamber of the National Assembly, at the plenary on Tuesday, scored the Executive low on the implementation of the national budget, especially over inadequate release of …

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 Photo Caption: Wife of the Governor of Lagos State & chairman, Committee of Wives of Lagos State Officials (COWLSO), Mrs Bolanle Ambode (4thright); guest speakers; Commissioner of Police, Imohimi Edgal (3rdright); Mrs. Janet Adetu (2nd right); Mrs. Mavi Isibor (4th left); and Mrs. Adesuwa Onyenokwe (3rd left); Committee members; Mrs. Ibironke Adeniji-Kazeem (r); Prof. Ibiyemi Olatunji-Bello (2nd left); and Funsho Raji (L), during the …

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Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has hinted that the Federal Government would not allow massive importation of maize by the Olam Group next year. Although the minister stated that maize was not on the nation’s import ban list, he, however, charged the company to work out how to grow the produce locally through backward integration, the …

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Heritage Bank Plc has reiterated its commitment to the growth and development of Nigeria’s creative industry because it is a major contributor to the country’s Gross Domestic Product (GDP).  In an assessment of the industry’s performance done recently, Nollywood defied recession and had grossed an amazing N1 billion from a record 50 indigenous movies in 2016- its best box office …

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UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has announced the call for entries for the 2017 edition of its annual UBA Foundation National Essay Competition in Nigeria. The essay competition which is put together for senior secondary school students is organized as part of UBA Foundation’s Education  initiative to promote a reading …

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The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has decided to hold the key interest rate, which serves as the national lending rate, at 14 percent despite the economy’s exit from recession. Godwin Emefiele disclosed this on Tuesday after the MPC meeting in Abuja. He said the committee considered holding the rates because it would allow …

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• NPDC eyes 500,000bpd oil production Oil prices hit a more than two-year high yesterday after major producers said the global market was on its way toward rebalancing, while Turkey threatened to cut oil flows from Iraq’s Kurdistan region toward its ports. The November Brent crude futures contract was up $1.51, or 2.5 per cent, at $58.37 a barrel, its …

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National Identity Management Commission (NIMC) Director-General, Aliyu Aziz, has faulted the identification system, arguing that it cannot foster economic growth. To him, only the National Identification Number (NIN) has the key to the realisation of the Economic Growth and Recovery Plan (EGRP) of the government. He said the NIN will help the government to effectively deliver services, adding that the …

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The President of the Senate, Dr. Bukola Saraki, has said the upper chamber of the National Assembly is working to ensure the completion of the passage of the Petroleum Industry Bill in the fourth quarter of this year. Saraki stated this in Lagos on Monday at the Nigeria Oil and Gas Industry Research and Development Fair and Conference 2017 organised …

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The Nigerian Content Development and Monitoring Board (NCDMB) said in Lagos on Monday that it expects the Nigerian Content Intervention (NCI) fund to hit $1 billion in the next three years. Speaking at NCDMB’s research and development forum in Lagos, the board’s executive secretary, Simbi Wabote, said with the launch of $200 million intervention fund with the support of Bank …

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