Politics

Defending the naira has become more expensive as Nigeria’s foreign reserves declined by $2.2 billion in October 2018 alone — the largest monthly drop since 2015. Data from the Central Bank of Nigeria (CBN) has shown that the reserves shed $2,243,157,059 in October, moving from $44,305,099,104 on the last working day of September to $42,061,942,045 as at October 30, 2018. The country’s …

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The Nigerian Civil Aviation Authority (NCAA) has said that its attention has been drawn to a report titled Controversy trails renewal of defunct CHANCHANGI Airways Air Operating Certificate published in one of the daily newspapers dated 31st October 2018. It said the agency wishes to state that there is no controversy at all concerning the Air Operators Certificate (AOC) of …

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In the light of NNPC’s proposal to construct two 100,000 bpd greenfield refineries in Delta and Imo States, BudgIT, a civic technology organization at the forefront of raising the standards of transparency, citizen engagement and accountability, has asked the Federal Government to first do a root cause analysis on the abandonment of Nigeria’s greenfield refineries earlier announced for Kogi, Bayelsa, …

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Tayo Olanipekun Director General of Atiku Political Campaign Organisation (APCO) and former Governor of Ogun State, Otunba Gbenga Daniel, said the U.S. Mission to Nigeria has asked his principal to come for his visa to the United States. He said the former Vice President Atiku Abubakar, who is the standard bearer of the Peoples Democratic Party (PDP), is a recipient …

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Nigeria has dropped a spot on the latest World Bank Ease of Doing Business ranking. The bank released the report themed ‘Doing Business 2019: A Year of Record Reforms, Rising’ on Wednesday. In the 2017 edition of the report, Nigeria moved 24 places from its 2016 spot of 169 to 145. Advertisement In the 2018 edition, Nigeria ranked 146. Mali …

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Mr. Rotimi Amaechi, the Minister of Transportation has said that he was not impressed with the pace of work at the Lagos end of the Lagos-Ibadan rail project. Amaechi expressed his disappointment during the monthly inspection of the project in Ibadan on Tuesday. “There is a slow pace of work in the Lagos axis of the project, “The expectations from …

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…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 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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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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