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Thursday , May 25 2017
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Business

Lagos IGR Rises By N32.99bn Says NEITI

The internally generated revenue (IGR) of Lagos state rose by approximately N33 billion from 2015 to 2016, beating 33 states put together. According to a report by the Nigeria Extractive Industries Transparency Initiative (NEITI), the state recorded an IGR of N301.19 billion, a rise of N32.99 billion in one year. ...

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We Expect CBN To Increase FX Sales To Us This Week, Says BDC President

Aminu Gwadabe, president, Association of bureau de change operators of Nigeria (ABCON), says the Central Bank of Nigeria (CBN) should increase dollar sales to its members this week. Gwadabe said due to the stability in the oil sector and the increase in the price of oil at the international market, ...

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Falling Oil Prices Threaten Nigeria’s Earnings, Reserves Accretion

CBN to inject more dollars into FX market this week The steady rise of Nigeria’s foreign exchange earnings and build-up of external reserves, which started about five months ago, is already under threat from exogenous shock arising from the recent fall in oil prices. Nigeria depends on oil sales for ...

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Smugglers flood Nigeria with harmful frozen fish –FG

Smugglers are beginning to flood the markets with harmful frozen fish illegally brought into the country through land borders, the Federal Government has said. According to the government, the smugglers bring in all sorts of frozen fish such as tilapia, red pacus, river bream, pangassius, horse mackerel, sardine, and croaker ...

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FG Optimistic Nigeria Will Exit Recession This Year

The federal government on Wednesday expressed optimism that the Nigerian economy was on the path of recovery, assuring the public that the country would crawl out of recession before the end of the year. Making this disclosure while briefing journalists at the end of the Federal Executive Council (FEC) in ...

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GE Partners Tony Elumelu Foundation On Lagos Garage

Leading multinational, General Electric (GE) and leading entrepreneurship organisation, The Tony Elumelu Foundation (TEF), have announced a partnership that would allow up to 25 Tony Elumelu EF Entrepreneurs to participate in a dedicated four-week advanced manufacturing training programme every year at GE’s Lagos Garage – a hub for advanced manufacturing-based ...

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Power Liquidity: FG To Commit N702 Billion To NBET To Meet Payment Obligations

In meeting its payment obligations to Generation Companies(GenCos), and solving  debilitating liquidity problem in the Power Sector,  the Federal Government has announced commitment of  N702 Billion to the Nigerian Bulk Electricity Trading (NBET) to enable it meet its payment obligations to Generation Companies (GenCos) on a more regular basis to ...

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Private jet, Armoured Cars Were Bought With Malabu Oil Deal ‘Bribes’- Report

Tens of millions of dollars was wired to buy a private jet and armoured cars in the US from the controversial $1.3 billion sale of OPL 245, the Sunday Observer of London has reported, quoting court documents. In the deal struck in 2011, only $210 million of the sum went ...

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Buhari Inherited A Bad Economy, Made It Worse – Soludo

A former Governor of the Central Bank of Nigeria, Prof. Chukwuma Soludo, on Thursday said President Muhammadu Buhari had worsened the “very bad” economic situation he inherited when he assumed power in 2015. Soludo spoke at the ‘Big Ideas Podium’, a public policy debate organised by the Afri Heritage Institution ...

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FirstBank Partners Oyo State on Women Empowerment

FirstBank Nigeria in collaboration with  Oyo State Ministry of Women Affairs organised  a summit for the empowerment of women in the state on February 28, 2017. The summit which  was hosted by the wife of Oyo state Governor, Mrs. Florence Ajimobi with the chairman FBN limited Board of Directors, Mrs. ...

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