Business

Lafarge Unveils Affordable Housing Units

Lafarge Holcim has unveiled a self-contained studio-flat at its Oregun, Ikeja, Lagos office in a move that may meet the desire of the majority, especially the low and middle income earners. This unveiling will serve as the bedrock upon which the firm’s planned delivery of a 500 unit of low cost housing in Gwagwalada, Abuja, […]

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Getting Graduates Into Oil, Gas industry

Many graduates with requisite skills are finding it difficult to get jobs in the oil and gas industry. The Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and others have a role to play to solve this problem, Gbubemi Peter Agbowu writes. Nigeria is a petroleum rich country, and an oil and gas […]

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Telecoms Sector Investments To Hit $166b – Shittu

The Minister of Communications Technology, Mr Adebayo Shittu yesterday in Abuja said investment in the mobile telecoms industry would hit $166billion and create over 6.1 million jobs by year 2020. According to him 2.7 million direct jobs would be created, while another 3.4 million indirect jobs would also come from the sector. Mr Shittu who […]

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N220b MSMED Fund: States access N45b, says CBN

The Central Bank of Nigeria (CBN) yesterday said state governments have accessed N45 billion out of the N220 billion Micro, Small, Medium Enterprises Development Fund (MSMEDF) set aside for development thenation report. The apex bank added that 60 per cent, two per cent and 10 per cent of the MSMEDF had been set aside for […]

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CBN Vows To Continue Defending Naira With Policies

Amidst worries of Nigeria’s currency free fall against foreign currencies in the foreign exchange market, the Central Bank of Nigeria (CBN) assured Nigerians yesterday that it was floating policies that will promote the stability of the Naira. Head, External Communications, Corporate Communications Department of the apex bank, Mr. Isaac Okorafor gave the assurance in Ilorin, […]

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ECOWAS Restates To Commitment To Single Currency

The Economic Community of West African States (ECOWAS), Commissioner for Industry and Private Sector Promotion, Mr Kalilou Traore, has said that the commission is committed to implementing a single currency in West Africa by 2020. Traore who revealed this in Lagos on Tuesday said that the commission was fast-tracking processes toward ensuring the implementation of […]

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NCC Explains Reduction Of MTN’s Fine To N1.04trn

The Nigerian Communications Commission, NCC, has defended the reduction of the N1.04 trillion fine it slammed on MTN Nigeria to N780 billion, saying it acted in the interest of the stability of the telecom sector. The commission said it weighed all pros and cons before arriving at the decision it considered favourable to all stakeholders. […]

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Stanbic IBTC, NBS Launches PMI

Stanbic IBTC Bank in collaboration with the National Bureau of Statistics has launched a purchasing managers’ index that will tracks private sector activity across sectors in Nigeria. The PMI provides insight into the private sector economy by tracking variables such as output, new orders, employment and prices across key sectors. CNBC Africa’s Wole Famurewa caught […]

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World Bank Urges Buhari To Act On Fuel Subsidy

The World Bank has advised President Muhammadu Buhari to act urgently if he is seriously considering the removal of fuel subsidy. The advice was given by the Lead Economist of the World Bank, John Litwack at the launch of the bank’s third Nigeria Economic Report (NER) in Abuja on Tuesday. Litwack said that although fuel […]

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Nigeria’s Crude Revenues Down Size N4.9412bn 7 Years Lowest

The daily crude revenues of Nigeria fell by a whopping N4.9412 billion ($24.706 million) on Monday as oil prices fell to their lowest in seven years. Nigeria, Africa’s biggest crude exporter, which produces about 2.3 million benchmarked the product price at $53 per barrel in its 2015 budget. The commodity on Monday however fell to […]

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Oando Gets Approval For N80bn Rights Issue

The Board of Directors of Oando Plc has received approval from shareholders for a N80bn Rights Issue. The shareholders also approved the partial divestment of the firm’s midstream and upstream services businesses as was done with its downstream business in order to attract substantial capital to fuel its growth initiatives. Oando, which is Nigeria’s largest […]

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Nigeria Loses Billions to Illegal Border Trade – Chatham House

Nigeria is said to be losing billions of naira to illegal cross border trade daily. A report released yesterday by the Chatham House titled: “Nigeria’s booming borders: The drivers and consequences of unrecorded trade,” stated that the country suffers economic losses as a result of obstacles that impede trading through formal channels. “Nigeria’s context of […]

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