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Noble Igwe tweets about how government policies forced him out of business

Popular Nigerian entrepreneur and owner of 360 Group, Noble Igwe, has lamented over how unfavourable government policies forced him to shut down his delivery startup after two years of frustrating trials. In a series of hot-worded tweets, the businessman accused the government of pretending to support small businesses but then killing them off before they can grow. This is […]

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Disruptive Opportunities: Can developing AI and robotics stabilise the Naira?

The massive global investments that are fueling rapidly developing technologies like Artificial Intelligence (AI) and robotics present huge opportunities for Nigeria to pull our currency out from the deep water. Currently, big tech players like the United Kingdom (UK) are outsourcing AI, robotics, and other related jobs to China, where the labour is much cheaper. One AI and robotics […]

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VAT: Implementation won’t affect Nigerians’ purchasing power- Senate

The Nigerian Senate has guaranteed Nigerians that the implementation of the 7.5% increase in Value Added Tax (VAT) would not affect their purchasing power. Ahmad Lawan, President of the Nigerian Senate, disclosed this yesterday while speaking on the measures being taken by the Federal Government to reduce the pressure of recent government policies on the purchasing power of […]

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Femi Otedola gives situation report on Dangote Refinery and the other projects

Femi Otedola just recently got back to Nigeria, after being away from the country for five months. Following his return, one of the first places he visited was Aliko Dangote’s multi-billion-dollar refinery and fertiliser projects in the Lekki Free Trade Zone. As you can expect, he shared the situation report with us.  Writing on Instagram, the billionaire revealed that construction works on Dangote Fertiliser Plant are complete and that the facility is ready for commissioning.   For the […]

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FG crafts ten-year economic plan to replace ERGP

The Federal Government (FG) has disclosed that a national development plan is in the works to replace the Economic Recovery and Growth Plan (ERGP). The disclosure was made by the Minister of State, Budget and National Planning, Prince Clem Agba during a meeting with the Japanese Ambassador Extraordinary and Plenipotentiary to Nigeria, Yutaka Kikuta, in Abuja. Agba explained that the […]

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NLNG signs 10 year sales deal with Eni

Nigeria Liquified Natural Gas Limited (NLNG) has signed a sale and purchase agreement with an Italian oil major, Eni for some of the remarketed volumes of Liquefied Natural Gas from NLNG’s Trains 1, 2 and 3. The agreement, which will reportedly be effective for 10 years, would help the company take up position among the top LNG […]

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Nigerian Customs to go digital in 2022

The Nigerian Customs Service has announced that it would go digital once it concludes its automation system by 2022. The announcement came from the Comptroller General of the NCS, Col. Hammed Ali during the International Customs Day at the NCS headquarters, Abuja. Ali explained that President Muhammadu Buhari had earlier approved the e-Customs Project for the service. He […]

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CBN Governor, Godwin Emefiele, reacts to devaluation of naira call

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has reacted to analysts’ projections concerning the devaluation of naira. According to Emefiele’s recent stance, naira devaluation will not be happening anytime soon. Emefiele reportedly stated that Nigeria’s reserves level remained high and strong enough to be able to meet obligations in the economy despite the recent fluctuations in crude oil […]

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Onajide gets appointed as Brooks and Blake’s Board Chairman

Olufunmilayo Onajide has been appointed as the Chairman, Board of Directors of marketing communications firm, Brooks and Blake Nigeria Limited. The appointment, which was announced in a statement obtained by Nairametrics, is reportedly coming at a time when the company is consolidating its growth and achievements. Prior to the appointment, Onajide worked at Brooks and Blake […]

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Opera refutes Hindenburg Research’s allegation that it violated Google’s policy

Opera Ltd, the Oslo-based developer of Opera web browser and other affiliated services like OPay and OKash, has denied claims by an investment firm, Hindenburg Research, suggesting that its apps violate Google’s policy. A brief statement that was issued on the company’s website acknowledged the Hindenburg report, and then called it misleading and unsubstantiated before proceeding to reiterate that the […]

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Five firms abandon Facebook’s ‘Libra’ currency, as Vodafone announces exit

Three months after Mastercard and Visa pulled out of Libra, a cryptocurrency owned by Facebook, it seems the exit door is still open as another member of the Libra Association takes a bow. The new member exiting Libra is a telecommunications company, Vodafone. Vodafone joined the growing list of Libra Association members, which have abandoned their quest to be […]

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Seplat to acquire more oil & gas assets after Eland’s acquisition

Seplat Petroleum and Development Company Plc is considering acquiring more oil and gas assets as it looks to expand its portfolio in the oil industry. This was disclosed by the Chief Executive Officer of the company, Austin Avuru. Seplat Petroleum is targeting oil and gas assets in the exploration and production space. It is believed that acquisitions improve […]

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Ponzi Schemes beware, SEC is coming for you

As more Nigerians continue to fall prey to the activities of illegal fund managers across the country, the Securities and Exchange Commission (SEC) said it is prepared to go harder on those behind these illegal schemes. Ms Mary Uduk, who acts as SEC’s Director-General, stated this over the weekend according to a statement signed by SEC’s Head of Corporate […]

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FG records $9 million transactions from SheTrades since 2016

The Federal Government (FG) has generated $9 million business leads since it introduced women export initiative, SheTrades Initiative in 2016. This was disclosed by the Nigerian Export Promotion Council (NEPC). Executive Director, NEPC, Olusegun Awolowo, explained that the initiative had connected 190 female-led businesses to international buyers through support at international trade fairs, in-country business linkage […]

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FG repositions cocoa industry to benefit from $67billion global market

The Federal Government (FG) is collaborating with the Governors of cocoa-producing states and other stakeholders to enable Nigeria benefits from the projected $67.22 billion global cocoa market. This was announced by a senior official of the Nigerian Export Promotion Council (NEPC), the agency responsible for developing and promoting non-oil exports. The NEPC official, who pleaded anonymity […]

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Afrinvest MD predicts when the naira will finally be devalued

Only one thing can prevent Nigeria’s currency (the naira) from being devalued by the second half of 2020, and that is a radical increase in crude prices. This is according to Ike Chioke, the Managing Director of Afrinvest West Africa Limited. Chioke reportedly made the prediction over the weekend, while speaking during an event marking the launch of Afrinvest’s Economic and Financial Markets 2020 Outlook. Afrinvest’s Head […]

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Census and its import to National growth

According to the Nigerian Population Commission (NPC), there were 140 million Nigerians as of 2006, with 71.7 million men and 68.3 million women. However, Festus Odimegu, former Chairman of the NPC, said no census in Nigeria’s history had been valid and that trying to count Nigerians was “impossible”. Note impossible. He continued, “These figures are just guesstimates; nobody […]