Friday, February 15, 2019
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    Nigeria’s GDP grew by 1.93% in 2018 despite drop in oil production

Nigeria’s GDP grew by 1.93% in 2018 despite drop in oil production

The nation's gross domestic product (GDP) grew by 1.93% in 2018, data made available by the National Bureau of Statistics has shown.According to the report, which was released by the bureau on Tuesday, the fourth quarter GDP grew by 2.38% as against the 1.81% recorded in the third quarter.The figure is 1.6 percentage points less than the 3.0% projected by the [...]

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    Adeosun played very significant role in the Lagos-Ibadan rail, says Amosun

Adeosun played very significant role in the Lagos-Ibadan rail, says Amosun

Ibikunle Amosun, governor of Ogun state, says Kemi Adeosun, former minister of finance, played a significant role in the execution of the Lagos-Ibadan railway, which was tested on Friday.Speaking on the train, during the test from Iju, Lagos, to the Ogun state capital, Abeokuta, Amosun said he knows for a fact that Adeosun and her ministry played an active part [...]

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    New NAHCO management promises better returns to shareholders

New NAHCO management promises better returns to shareholders

Olatokunbo Fagbemi, managing director of Nigerian Aviation Handling Company (NAHCO) Plc, has assured that the company will sustain its growth as it seeks to improve operations to deliver greater values to customers and shareholders.Speaking when the newly appointed board visited the Nigerian Stock Exchange (NSE), Fagbemi said the company will reenergize its system."My top priority is very simple, it is [...]

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    Nigeria GDP on the radar ahead of presidential election

Nigeria GDP on the radar ahead of presidential election

It has been a positive trading week for the Nigerian stock market with the All-Share Index pushing higher despite US-China trade talks pessimism denting global risk sentiment.Local equity markets are seen pushing higher next week if Nigeria’s GDP growth for Q4 exceeds market expectations.Away from macro fundamentals, the presidential elections will be in sharp focus. Whatever the election outcome, [...]

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    FG signs agreements with Afreximbank, BoI, NSIA to develop special economic zones

FG signs agreements with Afreximbank, BoI, NSIA to develop special economic zones

The federal government on Friday signed investment agreements with three development finance institutions -- Afreximbank, Bank of Industry and the Nigeria Sovereign Investment Authority (NSIA) -- for the creation of special economic zones in the country. With the signing, President Muhammadu Buhari, who presided over the ceremony at the Council Chambers of the Aso Rock Villa, declared the investment company in [...]

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    HURRAY! You can travel FREE from Lagos to Abeokuta on new train — for a month

HURRAY! You can travel FREE from Lagos to Abeokuta on new train — for a month

You can now travel for free from Iju, Lagos to Abeokuta for free for about a month, using the recently-completed trains by the federal government.This was disclosed by Fidet Okhiria, managing director of the Nigerian Railway Corporation, who spoke with Tolu Ogunlesi, special assistant to the president on digital communications, during the test drive of the #LagosIbadanRail Project.He said free test-rides [...]

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    FIRS to go after 40,000 millionaire tax defaulters

FIRS to go after 40,000 millionaire tax defaulters

The Federal Inland Revenue Service (FIRS) says it will go after 40, 000 millionaire who have been defaulting on taxes in 2019.According to a statement released in Abuja on Thursday, Babatunde Fowler, FIRS executive chairman, made this known while receiving Mohammed Adamu, the acting inspector general of police.Fowler said the FIRS recovered N23 billion from 45,000 people who had more [...]

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    ITF: There are job vacancies but Nigerian graduates lack the skills to fill them

ITF: There are job vacancies but Nigerian graduates lack the skills to fill them

[...]

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    Election fear: NSE trading volume nosedives by 42.38% in January

Election fear: NSE trading volume nosedives by 42.38% in January

The volume of shares traded on the Nigerian Stock Exchange (NSE) in January dropped by 42.38%, which analysts have attributed to uncertainties surrounding the forthcoming elections.Specifically, 6.24 billion shares worth N59.28 billion were exchanged in 80,888 deals by investors in January.NAN reports that the turnover and volume during the period dropped by 42.38% and 16.16%, respectively when compared with figures [...]

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    Trump picks World Bank critic, David Malpass, to replace Jim Kim

Trump picks World Bank critic, David Malpass, to replace Jim Kim

US President Donald Trump has nominated David Malpass, a critic of multilateral institutions like the World Bank, to replace Jim Yong Kim as the World Bank president.Malpass is a Trump loyalist, who served as senior economic adviser to the president during his campaign in 2016, and currently the undersecretary for international affairs at the Treasury Department of the United States.“I am certain [...]

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Exchange Rates

February 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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