Dutch companies are not fair weather friends of the people of Nigeria as they will stay in the country despite the recession. Ms Tessel Kuijten, First Secretary for Economic Affairs of the Netherlands Embassy in Lagos told the News Agency of Nigeria in Lagos that the companies were still interested in doing business in Nigeria. The […]
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In the bid to revive the cocoa Industry in the country, the Afreximbank and the International Cocoa Organization (ICCO) have met with the Bank of Agriculture (BOA) and the Nigerian Export-Import Bank (NEXIM) to discuss possible ways of intervention and development of the Cocoa Industry in Nigeria. A team of Afreximbank, led by the Regional […]
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As parts of driving faster internet penetration in the country, Airtel Nigeria would be offering offer customers affordable call and data tariff in addition to freebies. The telco company said this would be achieved under its repackaged Smart Trybe, a data bundle plan. According to Airtel, the repackaged Smart Trybe offers 11k/sec rate to all […]
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The Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, has reeled out the damages inflicted on Nigeria’s oil industry by militants in Niger Delta. He said the activities of the terrorists on NNPC’s pipelines have become unbearable, and had led to substantial decline in the country’s crude oil production. “The 2016 […]
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The Emir of Kano, Alhaji Muhammad Sanusi, on Wednesday attributed the current economic recession in the country to inability of the past administrations to diversify the economy. He made the remark while delivering a lecture at the ongoing 15th meetings of the Joint Planning Board and National Council on Development Planning in Kano. He said […]
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The United Nations’ World Food Program is warning that the number of people in need of food assistance in northeast Nigeria has risen to 4.5 million – nearly twice as many as in March. U.N. spokesman Stephane Dujarric said on Tuesday that a worsening economy could cause this figure to rise by another 1 million […]
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The organised private sector, comprised of manufacturers and small businesses in the country, said on Tuesday, that the policies of the Federal Government and the Central Bank of Nigeria, CBN, are killing businesses in the country, stating that due to the unfavourable policies, businesses have refused to repatriate about $10 billion into the country. This […]
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The recent International Monetary Fund ranking of Nigeria’s economy will dampen the confidence of foreign investors who attach importance to the size of an economy, an Economist, Mr Uche Uwaleke has said Uwaleke, an Associate Professor and Head, Banking and Finance Department, Nasarawa State University, stated this in Abuja on Tuesday. South Africa is now […]
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The Central Bank of Nigeria (CBN), has directed commercial banks in the country to allocate 60% of their foreign exchange purchases to manufacturers, in a bid to boost the ability of the real sector operators to pay for imports so as to boost the economy. Widespread dollar shortages, caused by a fall in oil revenues, […]
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Sun International, which owned 49 percent stake in Federal Palace Hotel, says it is leaving Nigeria, owing to “challenging economic conditions and regulatory dispute”. The hospitality and gaming company, which becomes the fourth major South African company to exit Nigeria in 2016, said the controversial detention of five of its staff by the Economic and […]
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Finance minister Kemi Adeosun has called on the Islamic Development Bank (IDB) to support Nigeria in rebuilding the North Eastern part of the country ravaged by Boko Haram. She made the appeal on Monday in Abuja at the inauguration of the IDB Country Gateway office. Adeosun said that Nigeria was striving towards attaining the Sustainable […]
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Nigeria’s economic slowdown, compounded by Boko Haram attacks, could mean 5.5 million people needing food aid in the volatile northeast by next month, double the current number, the United Nations warned on Friday. As government troops advance against the militants, the somewhat better access for aid workers under military escort to Borno and Yobe states […]
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