Many state governments have used the third tranche of the Paris Club refund to pay the arrears of workers’ salary and pension, a survey by the News Agency of Nigeria has revealed. In Osun, the state Chairman of Nigeria Labour Congress (NLC), Mr Jacob Adekomi, said that based on the “modulated salary’’ structure which the […]
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Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country’s oil industry. Nigeria’ lower house of parliament has passed a version of the bill which is the same as one approved by the […]
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The African Development Bank, (AfDB) would increase its investments in Nigeria to $8 billion by next year, the President, Dr. Akinwumi Adesina, has revealed. Speaking at the opening of the bank’s Country Office building in Abuja, Thursday, he said that the institution would continue to strongly support Nigeria, the largest shareholder of the bank. According […]
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The House of Representative Committee on Industry has scored the Standards Organisation of Nigeria (SON) high on effective implementation of budgetary provisions for its laboratory complex at Ogba, Ikeja. The Committee Chairman, Abubakar Moriki, who led an eight-man delegate of Patrick Aisowieren; Micky Kazzim; Sam Onuigbo; Ahmad Kalambaina; Mohammed Ibrahim; Baderinwa Bamidele and Yusuf Buba […]
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Although the Federal Government is yet to set a 2018 revenue generation target for the Nigeria Customs Service (NCS), the management plans to collect ₦1.3trillion this year. The Public Relations Officer, Mr. Joseph Attah, who disclosed this to our Abuja correspondent in his office, added that the organization hopes to work harder to exceed the […]
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Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, has called for a strong and well capitalized African Development Bank (AfDB) that is capable of fulfilling its commitments to member-countries. Adeosun made this call at the Regional Consultative Meeting between the AfDB President, Mr. Akinwumi Adesina and the Bank’s Governors and Ministers of Finance from West Africa […]
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The Federal Government has disbursed ₦10,995,391,260 to the beneficiaries of the third edition of the YouWiN! programme. The period covers 2015 to date, out of which ₦8,396,905,038 was disbursed by the President Muhammadu Buhari-led administration. The Minister of Finance, Mrs. Kemi Adeosun, made the disclosure yesterday while releasing the last payment of ₦125,640,000 for disbursement […]
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The National Bureau of Statistics, NBS, stated that the average price of Premium Motor Spirit (PMS), popularly known as petrol, increased by 17.10 per cent year-on-year in December 2017. It also stated that average price also increased by 17.98 per cent month-on-month to ₦171.8 in December 2017 from ₦145.6 in November 2017. The bureau disclosed […]
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Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day – toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And this new record, expected within days, likely won’t last long. The U.S. government forecasts that the nation’s […]
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Having grossed ₦23 billion from the Voluntary Assets and Income Declaration Scheme (VAIDS) in 2017, the Federal Government expects to net considerable tax revenue this year through the scheme. According to Mr. Tunde Fowler, Chairman of the Federal Inland Revenue Service (FIRS), VAIDS had earned the Federal Government the sum of ₦17 billion by early […]
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German sportswear maker Adidas wants to increase its U.S. market share to around 15-20 percent from levels that are now “significantly lower”, its chief financial officer said. “In every market we have a share of at least 15 to 20 percent,” CFO Harm Ohlmeyer told the Boersen Zeitung in an interview published on Saturday. “Our […]
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The Federal Government has concluded plans to create more than one million jobs across the country through egg production, processing and marketing under the National Egg Production (NEGPRO) scheme. The Minister of Agriculture and Rural Development (FMARD), Chief Audu Ogbeh, who disclosed this recently at a meeting with the Technical Committee on NEGPRO in Abuja, […]
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