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FEDERAL GOVERNMENT SAYS NIGERIA WILL BE CONSIDERING MORE OPTIONS TO BOOST ITS ECONOMY

The Federal government has disclosed that Nigeria will be considering further options in capital instead of issuing Eurobonds due to its cost in order to boost Africa’s largest economy in the face of a looming recession. Vice president Yemi Osinbajo made this known in a statement noting that Nigeria is …

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F.I.R.S RELEASES FIGURES FOR JULY 2020

The Federal Inland Revenue Service (FIRS) has announced that it generated a sum of four hundred and ninety billion naira revenue from tax in July 2020. According to a statement released by the FIRS, eighty-nine percent of the amount was generated from the non-oil receipt while eleven percent was collected …

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COMMERCIAL BANKS IN NIGERIA EXTENDS CREDIT FACILITIES OF EIGHTEEN POINT EIGHT- TWO TRILLION NAIRA TO THE PRIVATE SECTOR IN THE SECOND QUARTER OF 2020.

Commercial banks in Nigeria extended credit facilities of eighteen point eight- two trillion naira to the private sector in the second quarter of 2020. This was contained in the recent data released by the National Bureau of Statistics ( NBS), representing an increase of one point nine percent when compared …

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PRESIDENT MUHAMMADU BUHARI INAUGURATES NATIONAL STEERING COMMITTEE FOR DEVELOPMENT OF THE NIGERIAN AGENDA-2050, AND MEDIUM TERM NATIONAL DEVELOPMENT PLAN

President Muhammadu Buhari has inaugurated the National Steering Committee ( NSC) for the development of the Nigerian Agenda- 2050, and Medium Term National Development Plan. This was made available in the recent statement released by the Federal Ministry of Finance, Budget and National Planning.   Speaking at the inauguration, the …

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VICE PRESIDENT CALLS ON MINISTRIES TO ACTION IN MITIGATING EFFECTS OF COVID-19 IN THE NATION

Vice President Yemi Osinbajo has called on relevant Ministries and Stakeholders to expedite action, in mitigating effects of COVID-19 pandemic disruptions on the nation’s economy. Spokesman to the Vice president- Mr. Laolu Akande who made this known said, the V.P stated this while presenting an overview of the Economic Sustainability …

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PRESIDENT BUHARI REITERATES IMPORTANCE OF OIL AND GAS AT PENGASSEN CONFERENCE

President Mohammadu Buhari has reiterated the centrality of the Oil and Gas sector to the infrastructural and economic development of Nigeria. The President who was represented by the Minister of Petroleum Resources, Chief Timipre Sylva made the affirmation while delivering his welcome address at the 6th Triennial National Delegates’ Conference …

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CBN RESUMES FOREX SALES

Central Bank of Nigeria has announced the reassumption of sales of foreign exchange to Bureau De Change ( BDCs) in the country beginning from 30th  August 2020. This was made available in a circular to all authorized dealers, BDCs, and the general public, signed by the CBN Director Trade and …

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NERC RESTATES COMMITMENT TO CUSTOMERS DESPITE TARIFFS HIKE

The Nigerian Electricity Regulatory Commission (NERC), has restated its commitment to protecting its customers. The agency was responding to media reports on an increase in electricity tariffs. In a statement signed by the Chairman, Nigerian Electricity Regulatory Commission, Mr, James A. Momoh who explained that tariff reviews will only follow …

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FEDERAL GOVERNMENT SECURES $6.150 BILLION DOLLARS FOR ELECTRICITY PROJECTS

The Minister of Power, Engineer Sale Mamman disclosed that $6.150 billion dollars has been secured by the government for the development of critical power projects in Nigeria. According to him, $2.3 billion dollars has been earmarked for the Siemens project and $1.6 billion for the Transmission Rehabilitation and Expansion Programme. …

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