CBN to place sugar, wheat on FX restriction list The proposed $500 million Dangote sugar processing plant in Awe, Nasarawa State will save Nigeria some $1 billion and create more than 150,000 jobs. President, Dangote Group, Aliko Dangote, said they have acquired 60,000 hectares of land in Awe, Nasarawa State …
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The internally generated revenue (IGR) recorded by Lagos state in 2020 is higher than 28 other states combined. This is despite lockdown measures imposed in the state due to COVID-19. According to the 2020 IGR report released by the National Bureau of Statistics (NBS) on Friday, Lagos generated a total …
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The Nigerian National Petroleum Corporation (NNPC) has announced a 37.21 % decrease in cases of pipeline vandalism across the country in the month of January 2021. This is contained in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the …
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The French President, Emmanuel Macron, has commended the Chairman of BUA Group, Abdul Samad Rabiu for his commitment to developing lasting relationships between French and Nigerian businesses. This came as the French Minister for Foreign Trade and Economic Attractiveness, Franck Riester, paid a visit to the BUA Group HQ in …
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Headline Inflation Rate Increases by 18.17% YoY In March 2021, 0.82% Higher Than February 2021 Rate The consumer price index, (CPI) which measures inflation increased by 18.17 percent (year-on-year) in March 2021. This is 0.82 percent points higher than the rate recorded in February 2021 (17.33 percent). Increases were recorded …
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Nigerian economy to be boosted by $5 billion investment by Qatar The FG has disclosed that the Middle-East nation of Qatar is set to invest in the Nigerian economy the sum of $5 billion. The Federal Government has said that the oil-rich state of Qatar plans to invest $5 billion …
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A Nigerian property company will be taking over Shoprite’s local business in Nigeria, Reuters reported on Wednesday, citing multiple sources. Persianas is buying Shoprite’s Nigerian business after the South African retailer decided to retreat from other African markets. Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval …
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Nigerian creative industry and social media “influencers” have resolved to increase their engagement with governance, politics and public policy in order to create a better future for the country’s large youth population. At the first Elevating Youth Voices Virtual Summit held last weekend on April 10 and hosted by the …
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Many customers of Guaranty Trust Bank (GTB) were stranded on Tuesday after the Kano State Internal Revenue Service (KIRS) sealed five branches of bank for tax evasion. The closure is in line with an order of expatriate issued by Kano State High Court over the bank’s failure to audit and …
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Canada has rejected the request of a former member of the Special Anti-Robbery Squad, Olushola Popoola, seeking asylum in the North American country. Popoola’s application was rejected by the Immigration Division of the Immigration and Refugee Board in Canada because he was a member of the defunct unit of the …
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