Nigeria Economy

Osinbajo launches Edo Fertilizer Plant, 60,000 MT capacity

Vice president, Prof. Yemi Osinbajo, has inaugurated the Edo Fertilizer Plant and Chemical Company Limited, a public, private venture which has the capacity to produce about 60,000 metric tonnes of fertilizer per annum. The Vice president who was accompanied by the ministers of Agriculture and Rural Development, Chief Audu Ogbeh; and Industry, Trade and Investment, […]

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Hameed Ali Nigeria Customs Service, NCS

Customs seizes fake drugs worth ₦12.1 million, arraigns 15 suspects

Not fewer than 15 suspects have been arrested by the Federal Operations Unit, FOU, Zone ‘ A’ of Nigeria Customs Service in connection with 1,104 cartons of fake pharmaceutical products, estimated at the Duty Paid Value, DPV, of over ₦12.1 million, smuggled into the country without appropriate documents and permits from government. Some of the […]

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Federal Government

“FG withdraws ₦359.39bn from ECA for fuel subsidy”

The Federal Government withdrew the sum of ₦359.39bn from the Excess Crude Account in 2015 to fund the payment of petroleum products subsidy in 2015, the Fiscal Responsibility Commission has said. The FRC said this in a report on the Excess Crude Account obtained by our correspondent in Abuja on Monday. According to the FRC, […]

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China asks for friendly business environment for investors

Chinese Ambassador to Nigeria, Dr. Zhou Pingjian, has called on the federal government to show greater commitment towards the improvement of friendly investment measures for Chinese investors. Zhou made the call in Abuja during the 3rd China-Nigeria Consular Forum on ‘Consular Services: Benefit both Nigeria and Chinese peoples and inspire shared Dreams.” he assured that […]

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SON, EU, Germany seal €24.5m energy efficiency project

The European Union and Germany are collaborating with the Standards Organisation of Nigeria on a €24.5m energy efficient project. The project, which also involves the Ministry of Industry, Trade and Investment and the Ministry of Power, Works and Housing, will enable all the partners to work from all fronts to adjust imported electrical products and […]

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Dakuku Peterside

NIMASA to implement new security programme

The Nigerian Maritime Administration and Safety Agency is set to implement a new maritime security programme. The Director-General, NIMASA, Dr. Dakuku Peterside, stated this when the Shipping Association of Nigeria paid him a courtesy visit in Lagos. He informed the association that a lot of work was being done to ensure security of the maritime […]

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Nigeria working with U.S. on repatriation of stolen funds

Nigeria’s Vice President Yemi Osinbajo on Monday said the present administration has reached out to the United States government to step up its assistance in ensuring that corrupt officials don’t get a safe haven abroad for their loot. According to a statement by his Senior Special Assistant on Media and Publicity, Mr. Laolu Akande, the […]

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statistician general of the federation dr yemi kale

Inflation rate drops to 16.05 pct

The National Bureau of Statistics (NBS) says the inflation rate dropped from 16.1 per cent in June to 16.05 per cent in the month of July. The NBS disclosed this on Monday with the released the Consumer Price Index which measures inflation rate of the country. It said the index dropped marginally adding that this […]

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Success of ERGP depends on private sector – Udo Udoma

The Federal Government appears more favourably disposed to giving the Organised Private Sector (OPS) the support it needs to play a leading role in the revival of Nigerian economy currently buffeted by recession. This sentiment was amply demonstrated in Lagos recently, when the Minister of Budget and National Planning, Udoma Udo Udoma, spoke on the […]

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Export of perishable, non-perishable cargo rises above 10 pct

Export of perishable and non-perishable cargo from Nigeria to Europe, United States, Asia and other parts of the world through the nation’s airports has witnessed double-digit growth in the last two years. The rise is predicated on the recent trade promotion drive by the government. Experts said cargo export figures could rise, if the government […]

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‘Ongoing economic reforms’ aim at reviving Nigeria economy’

Nigeria’s Finance Minister, Kemi Adeosun, yesterday, stressed that the ongoing economic reforms by the Federal Government is aimed at strengthening fiscal discipline, improving revenue generation, and promoting allocation and efficient use of resources by the three tiers of government. The Minister said the reforms have been geared towards wealth creation, employment generation, poverty reduction, development […]

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Ex-CBN gov, Soludo charges Nigerians to get involved governance

As the country seeks ways to exit recession, Prof. Charles Soludo, former governor of the Central Bank of Nigeria, CBN, has urged Nigerians to be actively involved in the act of governance, saying that leaders deliver the kind of governance demanded of them. He gave the charge at an entrepreneurship programme put together by a […]

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