The Minister of State for Finance, Mr Bashir Yuguda, on Tuesday announced that federal, states and local governments had shared N593.33 billion…
Category:
Economy
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Two Nigerians, Tony Elumelu and Orji Uzor Kalu, along with four other Africans have joined Forbes list of 50 richest people in…
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The declining fortunes of the naira continued as it suffered 182 kobo depreciation at the foreign exchange auction conducted by the Central…
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The Naira fell by 200 kobo Tuesday, as the parallel market exchange rate rose to N180 per dollar from N178 per dollar…
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Transactions at the Nigerian Stock Exchange (NSE) ended on a negative note on Tuesday as the market indicators recorded 1.62 per cent…
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BusinessEconomyFinanceNewsOil and Gas
FG signs MoU with 9 oil companies to supply gas for power generation
The Federal Government in Abuja signed a Memorandum of Understanding (MoU) with nine oil companies for the supply of gas for power…
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EconomyFinanceNewsOil and Gas
Nigerian banks raised $3bn acquisition finance for power industry privatisation
The Managing Director of Stanbic IBTC, Mrs Sola David-Borha, said that some Nigerian banks had raised three billion dollars (N465 billion) as…
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President Goodluck in Abuja said that the Information and Communication Technology (ICT) sector had contributed 10.56 per cent to Nigeria’s Gross Domestic…
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BusinessEconomyFinanceNewsStock Market
UK Emerging Capital Market Task Force visits Nigeria market operators
In the wake of volatile global market, Nigeria continues to attract significant foreign investors interest, the recent being from United Kingdom who sent…
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The Central Bank of Nigeria, CBN has offset the N36.9 billon legacy debt owed to gas suppliers by the power sector under…
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Nigeria’s foreign exchange reserves fell 3 percent in two weeks to $37.59 billion by Nov. 13, as the central bank stepped up…
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BusinessEconomyFinanceNewsOil and Gas
FG introduces austerity measures, review oil benchmark to $73 per barrel
The Minister of Finance, Dr Ngozi Okonjo-Iweala, says the Federal Government has proposed a review of the oil benchmark from 77.5 dollars…
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BusinessEconomyFinanceNewsStock Market
Foreign investors warehoused N92.54bn profit from NSE in September
Investors’ sell pressure occasioned by national security challenges, decline in international oil prices and political uncertainty impacted negatively on foreign portfolio interest…
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Banks have started resisting the efforts of the regulatory authority to intervene in the interbank foreign exchange market. Investigation reveals that most…
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Continuous default on rules and regulations guiding insurance operation by practitioners have made the National Insurance Commission, NAICOM, to call for a…