Metro

…Misinvoicing Of Imports And Exports Is 15 Percent Of All Trade Transactions Analysis of trade misinvoicing in Nigeria in 2014 shows that the potential loss of revenue to the government was approximately $2.2 billion for the year, according to a new study by Global Financial Integrity. To put this figure in context, this amount represents four percent of total annual …

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The Vice President, Prof. Yemi Osinbajo, on Tuesday, said that quality education was key to reducing extreme poverty in the country. Speaking at the 60th anniversary of Grange School in Ikeja, Lagos, the vice president said that education reduces inequality in the society and had a connection with a growing environment. “Education erases poverty by almost 60 percent in a …

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The Managing Director of the Nigerian Ports Authority (NPA) Hadiza Bala Usman has advocated for an African framework targeted at enhancing the conveyance of cargos and the quality of logistics in a more predictable manner. The Managing Director who advocated that such a Framework should be targeted at enhancing the clearance of cargos through efficient logistics in a more profitable …

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Dangote Oil Refinery Company (DORC) says the 650,000 barrels per day refinery has been designed to process a variety of light and medium grades of crude and produce extremely clean fuels that meet Euro V specification. Sulphur in petroleum fuels results in vehicle exhaust emissions that have negative impact on health and environment. Nigeria has continued to remain a home …

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The continued increase in oil prices and sales volumes, Nigeria’s exemption from the production cut by the Organization of Petroleum Exporting Countries (OPEC), capital discipline and reduced disruptions on production activities in the Niger Delta are contributing factors to the improved cash flows and impressive results posted by Oil and Gas companies operating in Nigeria in the third quarter of …

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BudgIT has chosen to express an opinion on the recent statement by the Vice President, Prof. Yemi Osinbajo, that Nigeria’s public debt stock rose by $10bn. The organization’s recent work on expanding public debt has armed her with facts to critically examine Nigeria’s debt stock profile. We opine that the current rise of $10bn in public debt stock does not …

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The National Pension Commission, on Tuesday, said it has recovered N465.02 million outstanding pension contributions from defaulting employers. PenCom in a statement by its Head, Corporate Communications, Mr Peter Aghahowa, in Abuja said the recovery was affected in the second quarter. The commission said the N465.02 million consisted of principal contributions of N335.70 million and penalty of N129.32 million “This …

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A Federal high court sitting in Lagos south west Nigeria today adjourned till 4th of December,  2018 for the hearing of preliminary objection filed by the Central Bank of Nigeria (CBN) and other pending applications in the  suit filed by MTN  Nigeria communications Limited against the Central bank of Nigeria CBN fine of $8,134,312,397.63 . Joined as co-defendant is the …

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Aliko Dangote, Africa’s richest man, and his conglomerate, the Dangote Group, have been reported to be responsible for over 10 percent of Nigeria’s gross domestic product (GDP). The report, published by TIME Magazine, says Aliko Dangote is currently worth $14.1 billion, but his company’s investment is responsible for much more than his net worth. According to the World Bank, Nigeria’s …

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The Chief Executive Officer Compass Global Ltd, Mrs. Tokunbo Chiedu has said that Nigeria is now a power in global beauty economy and a thought leader in beauty &fashion ecosystem. Mrs. Chiedu who made this revelation during the “Cosmologists Creative Clinic 2018 and graduation of Elegant Twins 2018 class posited that its a good time to be alive in Nigeria …

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