BUSINESS
Economic Diversification With Focus On Non-Oil Exports Is On Course – Osinbajo
The Vice President, Professor Yemi Osinbajo, believes Nigeria is on the right path to economic diversification focusing on non-oil exports, with the zero-oil plan actively promoted by the Nigerian Export Promotion Council (NEPC). Professor Osinbajo stated this on Thursday when he received a delegation from the NEPC led by its outgoing Executive Director/CEO, Mr Segun Awolowo. “We are set on the...
How Buhari Dropped Ararume As NNPC Board Chairman
Muhammadu Buhari has dropped Senator Ifeanyi Ararume as Chairman of the Board of the Nigerian National Petroleum Company (NNPC) Limited. The President also replaced Senator Ararume with Senator Margret Okadigbo, wife of a former President of the Senate and running mate to President Buhari in 2007 under the All Nigerian Peoples Party, ANPP, late Senator Chuba Okadigbo. Recall that Senator Ararume,...
Naira Value Drop: EFCC Storms Abuja Bureau De Change Hub
Operatives of the Economic and Financial Crimes Commission (EFCC) on Friday stormed Wuse Zone 4, Abuja, home to most bureau de change operators in the Federal Capital Territory, A source said the raid was a covert operation to dislodge currency specu...
FG Stops Purchase Of Vehicles
Federal Government has stopped what it called non-critical and administrative capital spending, including the purchase of vehicles. The Special Adviser to the President on Media and Publicity, Femi Adesina, disclosed this in a document tagged, “What you need to know about the Nigeria Economic Sustainability Plan” made available to journalists in Abuja on Thursday. The plan was developed by the Economic...
Buhari Seeks Approval From House Of Reps To Reimburse 5 States N148bn
The President, Muhammadu Buhari, has written to the House of Representatives to seek approval for the Federal Government to reimburse five states for constructing roads on its behalf. The Speaker, Femi Gbajabiamila, read the presidential request at the opening of plenary on Tuesday. In the letter read by Gbajabiamila, Buhari sought “approval of the reimbursement of N148.14bn through the issuance of...
Ikpeazu Delivers Abia 2021 Proposed Budget Of 131 Billion Naira
Governor Okezie Ikpeazu has just delivered the 2021 Appropriation Bill to the State House of Assembly. The 2021 Appropriation Bill is a total of One Hundred and Thirty-One Billion, Eight Hundred and Fifteen Million, Seven Hundred and Fifty-Three Thousand, Seven Hundred and Twenty Naira only (=N=131,815,753,720.00). Recurrent Expenditure is Sixty Two Billion, Six Hundred and Twenty Four Million, Five Hundred and...
No Plan To Introduce New Taxes In 2021- FG
The federal government says it has no plan to introduce new taxes or increase current taxes in 2021. Zainab Ahmed, minister of finance, budget and national planning, disclosed this on Friday, at a public hearing organised by the house of representatives committee on finance in Abuja. The minister said rather than increase taxes, it is making efforts to reduce tax burden...
Buhari Has Done Well in Job Creation – Festus Keyamo
The Minister of State for labour (state), Festus Keyamo on Sunday, May 31, said the Buhari-led administration has done well in job creation in the last five years. Keyamo said this while appearing on Channels Television “Sunday Politics” programme. Festus Keyamo stated that the effort of the government has gone unnoticed because Nigeria’s population grows faster than the rate of job...
Nigeria Owes China $3.714bn ― DMO
The Debt Management Office (DMO) had put Nigeria’s total loan obligations to China at $3.714 billion by the end of 2020. According to a document obtained from the debt agency, $449.89 million has been repaid from the principal and $391.66 million, as interest, with an outstanding of $3.264 billion to the China Export/Import Bank. The Nigerian Railway Modernisation Project (Lagos –...
President Buhari Suspends Proposed Removal Of Petrol Subsidy Indefinitely
President Muhammadu Buhari has approved the suspension of the planned removal of petroleum products subsidy until further notice. This was disclosed to State House Correspondents on Tuesday by the Minister of State for Petroleum Resources Chief Timipre Sylva at the Presidential Villa, Abuja. According to the Minister, the executive will propose an 18-month extension to National Assembly for the implementation of...
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