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How FAAC allocation is hindering agriculture

The Nigerian agricultural producers and exporters have been advised to improve the quality, branding and packaging of their produce, in order to fully explore the huge marketing opportunities in the Middle East, especially the United Arab Emirates. This and numerous issues were discussed on Wednesday at an agro stakeholders’ conference, Meet…

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Lagos defends action on Cleaner Lagos Initiative

Lagos State Governor, Mr. Akinwumi Ambode has described the current challenges faced in the waste management of the state as an aftermath of an astronomical population growth in the state. The Governor who made this disclosure during the World Habitat Day held at the Adeyemi Bero Auditorium, Alausa, Ikeja. Ambode recalled efforts of the…

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Why PZ Cussons and Unilever import palm oil despite presence of local producers

The Vice President of the Nigeria Agribusiness Group (NAGB), Mr Emmanuel Ijewere, has explained why companies like PZ Cussons Plc and Unilever Nigeria Plc continue to import oil palm into Nigeria despite the presence of leading producers such as Okomu Oil Palm Plc and Presco Plc in the country. Mr Ijewere,…

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20,550 businesses benefited from BoI’s credit facilities in Kaduna

The Bank of Industry (BoI) has disbursed about N2.8 billion credit facility to over 20,550 micro-enterprises and 280 Small and Middle Enterprises (SMEs) in Kaduna State. This was made known by BoI’s Managing Director, Olukayode Pitan. While making the disclosure during the 20th edition of national Micro Small and Medium Enterprises (MSMEs) Clinic…

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AMCON outlines its plans for Polaris Bank

The Chief Executive Officer (CEO), Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru has affirmed that the agency and the management of Polaris Bank have reached an agreement. Polaris Bank, the lender established to take over the assets and liabilities of the failed Skye Bank Plc, according to Kuru, would be sold in less…

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Nigerians jump on #BuhariChallenge

Presidential aspirant of the Peoples Democratic Party (PDP), Atiku Abubakar has challenged President Muhammadu Buhari to list his achievements since assuming office. In a document released by his campaign office, the Atiku Campaign Organization using the hashtag #BuhariChallenge asked the Buhari Campaign Organization to respond to his queries.  Tweetosphere expectedly took…

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Med-view Airline makes U-turn, set to recall 60 workers

Medview Airline Plc in a return statement edges up hope of laid off staff while saying the staff will only be gone temporarily and would be recalled. Mr Isiaq Na-Allah, Executive Director, Business Development Med-View Airline Plc, engaging journalists today in Lagos, disclosed that the company is undergoing restructuring. “Going by…

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FG set to go after Nigerians with foreign assets with VOARS

The Federal Government has stepped up its revenue drive as President Muhammdu Buhari this week signed the Voluntary Offshore Assets Regularisation Scheme (VOARS) into law. I have signed a new Executive Order (EO 008), the Voluntary Offshore Assets Regularization Scheme (VOARS), mandating Nigerian taxpayers who hold offshore assets and incomes…

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Shell prepares staff for media storm over Malabu

Oil giant, Shell has prepared its staff for what might be a long legal battle in Italy. The company disclosed this in an internal memo, it sent to them. Shell also anticipates critical media coverage on the case, and that staff may face inquiries. It also provided contact details for staff to…

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Nigeria requires $1trn to modernise energy infrastructure

Vice President Yemi Osinbajo says 1 trillion dollars is required to modernise Nigeria’s energy infrastructure in 29 years. Osinbajo made this known while declaring open a 2-day National Energy and Climate Change Summit at the State House Banquet Hall on Thursday in Abuja. The summit was organised by the Energy Commission of…

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Report ranks Nigeria lowest on wealthy-poor bridging gap

A new report by Aid agency, Oxfam has ranked Nigeria, Singapore, and India among countries widening the gap between the wealthy and the poor. In its index report highlighting those countries doing least to bridge the divide ranked South Korea, Georgia, and Indonesia among countries trying to reduce inequality through its…

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IMF predicts a sharp rise in Nigeria’s Inflation by 2019

These are certainly not the best of days for the Nigerian economy as various projections and predictions are not favourable to the economy; as the nation gears up for the 2019 general elections. The International Monetary Fund (IMF) on Wednesday predicted a rise in Nigeria’s inflation rate to 13.5% in 2019….

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National Assembly to probe collapse of Skye Bank Plc

Chairman, House of Representatives Sub-Committee on Capital Market and Institutions, Tony Nwulu has made known the intention of the lower house to probe into the Central Bank of Nigeria’s (CBN) withdrawal of Skye Bank’s operating license. The move to probe, according to Nwulu, is to address public outcries by shareholders over corporate misgovernance by most…

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Stanbic IBTC deploys robotics for banking operations

Stanbic IBTC Bank, a member of the Stanbic IBTC Holdings Plc has launched another first in Nigeria’s banking industry with the deployment of robotics to handle some segment of its operations. The Stanbic IBTC BlueBots, as the robots are called have been deployed to manage middle and back office activities…

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AMCON raises red flag on some Nigerian airlines

AMCON Chief Executive, Ahmed Kuru has raised an alarm over the state of health of some local airlines in the country. The AMCON Boss noted that some Nigerian airlines are facing the risk of collapse under the weight of huge debts. In his words: “The industry remains in the throes of…

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Sterling Bank debtors may lose their pledged assets soon

Sterling Bank Plc revealed plans to embark on new strategies that will ensure quick recovery of debts. The strategies to be explored include restructuring for accelerated payoffs and possible foreclosure or disposal of pledged assets of defaulting debtors. The move to explore new strategies is expected to ensure a progressive drop in…

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All is set for SAHCOL listing on the Nigerian Stock Exchange

The board and management of Skyway Aviation Handling Company Limited (SAHCOL) has reached an agreement with the Bureau of Public Enterprise (BPE) and Securities and Exchange Commission (SEC) to become a listed company on the Nigerian Stock Exchange (NSE). Come November 2018, SAHCOL will be opened to public investors on the…

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Dangote Cement inches closer to London listing

Africa’s richest businessman, Alhaji Aliko Dangote has provided some hints on the much awaited London public listing of Dangote Cement. Dangote while speaking at the FT Africa summit revealed that Bank of America Merrill Lynch and Standard Chartered could be among the banks organizing the IPO scheduled to take place sometime…

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Does Oby Ezekwesili have the economic solution Nigeria seeks?

Mrs Oby Ezekwesili, leader of the pressure group, Bring Back Our Girls has joined the list of those vying to occupy Nigeria’s highest public office come 2019. The presidential candidate shared the news on her personal Twitter page over the weekend, stating that she now hopes to topple incumbent President Muhammadu Buhari…

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Dangote Group flags off multibillion global headquarter in Lagos

Dangote Industries Limited has begun rudimentary work on its 18-floor Global Headquarters in Ikoyi, Lagos. The development will relocate the group’s corporate head office situated at Ikoyi to a permanent residency by 2020. Dangote group currently operates from Union Marble House situated on Alfred Rewane Road, Ikoyi where it occupies floors of workspaces. The proposed…

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