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The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country. The European Investment Bank has finalized a US $20-million equity stake in the new financing institution, alongside US $50-million equity participation from the African Development Bank.  The …

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The Managing Director / Chief Executive Officer of Lafarge Africa Plc Michel Puchercos has assured stakeholders in the capital market that the building solution company is committed to high corporate governance standard and growth that will deliver good returns to investors. He disclosed this after the company was officially admitted into the Premium Board of the Nigerian Stock Exchange (NSE). …

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BudgIT has advised the Federal Government against the effects of gas flaring, which continues to contribute to irreversible environmental degradation, posing hazards to human health and loss of revenue in the country. It said that although it observed some progress in the fight against routine gas flaring over the last 20 years, added that analysis by BudgIT’s Extractives team revealed …

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Guaranty Trust Bank Plc on Wednesday April 18, 2018 released its first quarter result for the period ended March 31, 2018 with 8 percent growth in profit after tax, from N41,477 billion in 2017 to N44,670 billion in 2018. Profit before tax was up by 4.43 percent from 50,392 billion in 2017 to N52,624 billion in 2018. Gross earnings also …

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The Lagos State Government says new investors for the Fourth Mainland Bridge will be named in June. The cost of the previous contract which was cancelled in May 2017 was put at N844bn. The government had cited delay in the commencement of work as the reason for the termination of the contract. The Commissioner for Works and Infrastructure, Adebowale Akinsanya, …

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Governor Seriake Dickson of Bayelsa State has claimed that the oil-producing states in the country are not getting the complete 13 per cent derivation of revenue derived from oil production as provided for in the Constitution. The Governor said that in spite of the express provisions of the constitution for the disbursement of 13 per cent to the producing states, …

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There was a mild drama at the senate on Wednesday after Ovie Omo-Agege,suspended senator from Delta state, stormed the senate with suspected thugs, carting away the mace. He was said to have sneaked in through one of the glass barricades within the national assembly before the mace was seized with the support of the men who accompanied him. Security operatives ran to …

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With economic policy initiatives yielding positive results coupled with a stable political climate, this is the right time to invest in Nigeria, Budget and National Planning Minister, Senator Udoma Udo Udoma, told participants at the UK-Nigeria Trade and Investment Forum in London. Senator Udoma who was speaking at the plenary session of the Forum said Nigeria’s outlook for 2018, and over the medium …

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The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), on Tuesday, said it has so far recovered about N57.7 billion unremitted revenues from collecting banks in its efforts to boost revenue accruals into the federation account. According to the agency, the recovery followed intensive verification and reconciliation of revenue collections and remittances by designated banks engaged by the Nigeria Customs Service (NCS) …

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The International Monetary Fund (IMF) Tuesday. warned that Nigeria and other debtor nations may run into more troubles with repayment as the global debt levels are becoming unsustainable. This is even as the Fund warned that voters’ disillusionment could raise the threat of political developments that could destabilise a range of economic policies in the future, reaching beyond trade policy. Nigeria’s …

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