Economy

Lafarge Africa closes application offer to raise ₦132 billion via rights issue

Lafarge Africa Plc at the weekend closed application list for its ₦131.65 billion rights issue, rounding off the subscription to its major capital raising aimed at deleveraging its balance sheet and rebuilding a more supportive capital base. Lafarge Africa had on November 24, 2017 launched an offer to raise ₦131.65 billion through a rights issue […]

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Nigeria turns the page on literary past

Mention Nigerian literature and the first names likely to spring to mind are Chinua Achebe, the author of “Things Fall Apart”, or the venerable Nobel laureate Wole Soyinka. But Africa’s most populous nation has a new crop of writers whose work is a far cry from the post-colonial era of their esteemed predecessors. Olumide Popoola’s […]

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DPR suspends 6 oil marketers over diversion of products

The Department of Petroleum Resources (DPR), Eket field, says it has suspended six marketers in Akwa Ibom State for diverting petroleum products The DRP Operations Controller in the state, Mr Tamunoiminabo Sundaye, disclosed this to the newsmen in Eket on Sunday. Sundaye said that the marketers lifted 180,000 litres of petrol from NNPC Calabar depot […]

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Debt Management Office, DMO

Investors interest in the FGNSB weakens by 88 pct in Nov.: analysis

Investors appetite for the newly introduced Federal Government of Nigeria, FGN, Savings Bond (FGN-SB or Savings Bond) has eroded by 88 percent as at November, 2017. But the Debt Management Office (DMO), the issuers of the bond, and market analysts are divided over the performance. Vanguardngr analysis of the allotment results of the Bond from […]

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China home prices rise 0.3 pct in November from October

New home prices in China extended another month of steady growth in November, after picking up slightly in October, shrugging off a range of government moves to rein in an overheated property market. Average new home prices in China’s 70 major cities rose 0.3 percent in November from the previous month, in line with October’s […]

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UK’s court orders remittance of $85 million Malabu oil loot to Nigeria

After many years of legal fireworks, the United Kingdom has given the final clearance for Nigeria to draw down a whopping $85 million seized from entities embroiled in the controversial Malabu Oil scam. The Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, who confirmed the development to correspondents last night in […]

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U.S. Dollar held with Nigerian Naira

FG, States, LGs share ₦609.95 billion in November

The Federation Account Allocation Committee (FAAC) has distributed ₦609.95 billion from the federation Account to Federal, States and Local Government as revenue generated in November. This is ₦77.25 billion more than what they shared in October, Mr. Ahmed Idris, the Accountant-General of the Federation said. The distribution is also timely as it will enable states […]

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70 pct tariff on imported cars under auto policy boost local production – NPA

The 70 per cent tariff imposed on imported cars aimed at boosting local production under the Federal Government’s auto policy had its most effect this year, Nigerian Ports Authority (NPA) has said. According to the Managing Director of the Ports Authority, Ms Hadiza Bala-Usman, the policy reduced the number of used vehicles brought into the […]

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Dakuku Peterside

Amaechi to create a national policy on Blue Economy – Peterside

The Director- General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside, said the Minister of Transportation, Mr Rotimi Amaechi, has initiated plans to create a national policy on Blue Economy. Peterside said this in Lagos on Thursday during an enlightenment workshop organised for directors of Nigerian Shippers’ Council (NSC). According to him, the […]

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President Buhari today at the State House met with the President of the @ecowas_cedeao Commission, Marcel A. de Souza, and the Chairperson of the @_AfricanUnion Commission, @MoussaFakiMht #AsoVillaToday

Buhari opened the 52nd session of ECOWAS in Abuja

President Muhammadu Buhari on Saturday opened the 52nd ordinary session of ECOWAS Authority of Heads of State and Government in Abuja. He advocated regional mechanism for evacuation, resettlement and empowerment of stranded ECOWAS citizens abroad. The President made the call at the opening of the 52nd ordinary session of ECOWAS Authority of Heads of State […]

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NEPC plans to develop Cross River cocoa for export

The Executive Director/Chief Executive Officer, Nigerian Export Promotion Council, Mr. Olusegun Awolowo, has said that developing the Cross River State cocoa value chain for export will enhance economic growth. Awolowo spoke through the Deputy Director, National Export Office, NEPC, Mrs. Veronica Oriare, during the Cross River State Cocoa Stakeholders’ Forum and mini exhibition in Ikom […]

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China, UK vow to strengthen cooperation on economic, financial, trade issues

China and Britain have vowed to continue and strengthen cooperation on a wide range of economic, financial and trade issues, including speeding the introduction of a London-Shanghai stock connect programme. In a joint statement on Saturday, coinciding with an official visit to China by British finance minister Philip Hammond, the countries also said they opposed […]

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