Tuesday, April 9, 2019

Tag "Economy"

    Tinubu to Buhari: Don’t discard ‘Next Level’ promises after election victory

Tinubu to Buhari: Don’t discard ‘Next Level’ promises after election victory

Bola Tinubu, a national leader of the All Progressives Congress (APC), has advised the administration of President Muhammadu Buhari to work in a way that would grow the nation's economy.Delivering his speech at the colloquium held in commemoration of his 67th birthday, Tinubu said the "Next Level" is not a phrase that should quickly be discarded once victory has been [...]

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    50,000 Indians doing business in Nigeria, says high commissioner

50,000 Indians doing business in Nigeria, says high commissioner

Abhay Thakur, Indian high commissioner to Nigeria, says "50,000 Indians" comprising professionals, investors, technically skilled, medical doctors and educationists are involved in various businesses in Nigeria.Thakur spoke at a NAN forum in Abuja, on Tuesday.He said India was Nigeria’s largest trading partner globally, with bilateral trade between both countries "at nearly $12 billion and Indian companies investing in projects worth [...]

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    Elumelu: Access to electricity is critical to economic growth

Elumelu: Access to electricity is critical to economic growth

Tony Elumelu, chairman of Heirs Holdings, says access to electricity is critical to growing Nigeria's economy.Speaking in an interview with Sky news, Elumelu said he believes that the second term of President Muhammadu Buhari will focus on improving the power sector.He added that another sector that is critical to the economy is the private sector which helps in creating employment [...]

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    Tinubu: Atiku is my friend but we’ll retire him on Saturday

Tinubu: Atiku is my friend but we’ll retire him on Saturday

Bola Tinubu, a national leader of the All Progressives Congress (APC), says though Atiku Abubakar is his friend, the presidential candidate of the Peoples Democratic Party (PDP) will retire from politics on Saturday.In a statement on Thursday, Tinubu said he could not find much good in the policies and programmes of the PDP to warrant being voted back into power.He [...]

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    The decline and recovery of Nigeria’s economy

The decline and recovery of Nigeria’s economy

It was an expectant morning at the banquet hall of the state house, Abuja, as the economic management team (EMT) engaged representatives of the private sector from all over the country on the economy at the 10th presidential quarterly business forum.“We didn’t know you have done so much,” said Nike Akande, president of the Lagos Chamber of Commerce and Industry [...]

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    Some ministers ‘have to leave’ for Buhari’s govt to succeed

Some ministers ‘have to leave’ for Buhari’s govt to succeed

Lai Omotola, group managing director of CFL group, says some ministers in President Muhammadu Buhari's cabinet have to go for the government to succeed. Omotola said this during an interactive session with journalists in Lagos on Thursday.He said some policies of the current administration have had negative effect on the country, adding that to say the economy is challenged is an [...]

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    Nigerian economy looking good, says Buhari

Nigerian economy looking good, says Buhari

President Muhammadu Buhari says the economy of Nigeria is looking good.According to a statement by Femi Adesina, presidential spokesman, Buhari said this on Thursday when he received a letter of credence from Jesper Kamp, the new ambassador of the Kingdom of Denmark to Nigeria.Buhari also said his administration would continue to implement policies that will make the economy better.The president [...]

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    Tourism: Nigeria’s new economic frontier

Tourism: Nigeria’s new economic frontier

BY FIDELIS NWANGWUAs we gradually move towards the close of the great Age of Oil, with the newer and brisk strides in the development of alternative energies, this bodes much disconcerting fortunes for mono-cultural economies like Nigeria, whose lifelines have hinged on oil receipts in the past several decades. Theseproceeds have, traditionally, not only accounted for over 80 percent of [...]

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    Gates and the Nigerian ostriches

Gates and the Nigerian ostriches

In the last decade, billionaire Bill Gates is reputed to have funneled estimated $1.6b (Over N500bn) of his own hard-earned fortune into humanitarian causes in Nigeria, especially immunisation for kids against polio with a view to helping to end the nation’s shame as the world’s capital of the horrific yet preventable disease.Without being prompted, the Bill & Melinda Gates [...]

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    NCC to fund world-class infrastructure project in Edo

NCC to fund world-class infrastructure project in Edo

The Nigerian Communications Commission (NCC) has promised to establish a world-class ICT infrastructure across Edo state.Sunday Dare, NCC’s executive commissioner for stakeholder management, made this promise when the Edo state governor, Godwin Obaseki, visited him at the NCC headquarters in Abuja.Dare said the commission was impressed with the "forward-looking policies" of the governor and assured him of the NCC’s readiness to [...]

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    Fowler: Nigeria’s tax revenue recorded N700bn increase in 2017

Fowler: Nigeria’s tax revenue recorded N700bn increase in 2017

Tunde Fowler says the Federal Inland Revenue Service (FIRS) recorded four million new taxpayers, resulting in N700 billion increase in revenue in 2017The FIRS chairman said this at the 13th general assembly of the West African Tax Administration Forum (WATAF).The chairman said in the past two years, the service has scaled up its use of ICT to facilitate taxpayers’ compliance.He [...]

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    AfDB says Africa’s growing population is a time bomb

AfDB says Africa’s growing population is a time bomb

The African Development Bank (AfDB ) says unless the government of African countries match the continent’s growing population and youth unemployment, the continent could trigger a time bomb.Akinwunmi Adesina, president of the bank, said this a recent meeting which had government officials from east and north African countries in attendance.He described the continent’s growing young population as a potential growth engine [...]

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    Osibanjo: Why Buhari and I didn’t visit Dapchi

Osibanjo: Why Buhari and I didn’t visit Dapchi

Vice-President Yemi Osinbajo has spoken on the reason he and President Muhammadu Buhari have not visited Dapchi in Yobe state where 110 students were abducted two weeks ago.Both men have been criticised for not paying condolence visits to places where abductions and avoidable deaths were recorded in recent times.Among these states are Benue, Zamfara and Taraba.Speaking with journalists over the [...]

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    Magu is going nowhere, says Osinbajo

Magu is going nowhere, says Osinbajo

Vice-President Yemi Osinbajo says Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), is “going nowhere”.The senate has demanded the replacement of the anti-graft czar who failed its screening on two separate occasions but the presidency has allowed Magu to carry on with his job.To protest the refusal to sack Magu, the upper legislative chamber suspended the screening [...]

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    Ghana vows to account for ‘every single bar of gold’ leaving the country

Ghana vows to account for ‘every single bar of gold’ leaving the country

In a bid to bring accountability and transparency to economic management of resources, the Ghanaian government has vowed to account for every single bar of gold leaving the country.It also promised to end smuggling by tightening controls, and ensure that 50% of total gold output is locally refined in the next five years.Mahamudu Bawumia, Ghana’s vice-president, told a regional meeting [...]

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    DMO: American investors are largest buyers of Nigeria’s Eurobond

DMO: American investors are largest buyers of Nigeria’s Eurobond

The Debt Management Office (DMO) says American investors are the largest buyers of Nigeria’s $2.5bn Eurobond.New data released by DMO indicated that for Eurobond notes with a 12-year tenor, American investors purchased 55%, while British investors bought 32%; European investors took 11% of the Eurobond.For Eurobond with 20-year tenor, American investors bought 59% while British and European investors purchased a combined [...]

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Exchange Rates

April 8, 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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