Business

OYO GOVERNMENT TO COMMENCE STRICT ENFORCEMENT OF ENVIRONMENTAL SANITATION

The Oyo State Government has announced that it will commence total enforcement of its laws on environmental sanitation, street trading, illegal motors parks, land grabbing, urban and physical planning across the state, beginning from today, as it gears up to introduce the Ibadan City Master Plan. The state government said that beggars will also be […]

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NNPC TO ESTABLISH TWO NEW CONDENSATE REFINERIES

The Nigerian National Petroleum Corporation has said it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assa North/Ohaji South Areas of Delta and Imo states. Natural gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the […]

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NIGERIA STOCK EXCHANGE REVEALS 66 BILLION NAIRA DROP IN FOREIGN TRANSACTIONS

The Nigerian Stock Exchange recorded a decline of 66.24 billion naira in foreign portfolio transactions last month amid political uncertainties and rise in interest rates in the United States. The Domestic and Foreign Portfolio Participation in Equity Trading report for July 2018 which was released yesterday showed that total transactions at the nation’s bourse reduced […]

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CENTRAL BANK DATA REVEALS 990 MILLION DOLLAR DROP IN EXTERNAL RESERVES

Latest statistics obtained from the Central Bank reveal that the nation’s foreign exchange reserves have fallen by 990.98 million dollars this month. The external reserves, which stood at 47.11 billion dollars at the end of last month, declined to 46.128 billion dollars on August 23, 2018. The apex bank noted that the evolution of the […]

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PRIVATE SECTOR SUFFERS DECLINE IN LOANS BY COMMERCIAL BANKS

A National Bureau of Statistics report indicates that the total loans granted by Nigerian banks to the private sector declined from 16 trillion naira in the first quarter of 2017 to 15.34 trillion naira in the second quarter of 2018, bringing about a whopping 600.60 billion naira drop. This means credit to the private sector […]


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CENTRAL BANK APPROVES SINGLE-DIGIT LOAN SCHEME FOR AGRIC SECTOR

The Central Bank of Nigeria (CBN) and the Bankers’ Committee has agreed to offer single-digit interest rate loans to operators in the manufacturing and agricultural sectors of the economy from commercial banks’ cash reserve requirement (CRR) with the apex bank. The central bank explained that instead of outrightly lowering interest rate, it opted for a […]


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FEDERAL GOVERNMENT UNVEILS NEW NATIONAL CARRIER, NIGERIA AIR

The Federal Government has unveiled the branding and livery for the new national carrier, Nigeria Air, slated for inauguration at the end of this year. Minister of State for Aviation, Senator Hadi Sirika, unveiled the carrier at a press conference during the Farnborough Air Show in London. The aviation ministry said the branding and naming […]

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PRESIDENT BUHARI SEEKS STRONGER PARTNERSHIP WITH BANKS TO IMPROVE INFRASTRUCTURE

President Muhammadu Buhari has called for a stronger partnership with lending banks to reduce the nation’s infrastructure deficit. He also assured of his administration’s full commitment to implement all agreements. The President who said this at the Presidential Villa, Abuja, added that the Federal Government will keep “knocking on the doors’’ of banks to participate […]


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NIGERIA FOOTBALL FEDERATION TO MOBILISE 1,500 NIGERIANS FOR UPCOMING WORLD CUP MATCH

The leadership of the Nigeria Football Federation has concluded arrangements to mobilise Nigerians in every part of the country to provide support for the team during the crucial encounter against Iceland this Friday in Volgograd. The Nigeria Football Federation will procure match tickets for the over 500 Nigerians resident in St Petersburg and other 1,000 […]

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NORTH KOREA LEADER, KIM JONG-UN VISITS CHINA FOLLOWING UNITED STATES SUMMIT

North Korean Leader, Kim Jong-un is making a two-day visit to China, a week after meeting United States President Donald Trump. It is expected he will discuss sanctions and the commitment he made at the summit, in general terms, to denuclearise the Korean peninsula. North Korea’s only economic ally, Beijing, has already suggested sanctions against […]

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