Nigeria to implement Africa free trade agreement – minister

Mr Adeniyi Adebayo, the Minister of Industry, Trade and Investment, says the Federal Government has initiated a process to revive the collapsed industries in Kano State. Nigeria is currently in the process of ensuring the ratification of the Africa Continental Free Trade Area (AfCFTA) agreement, the minister of trade, Niyi Adebayo, said on Monday. Ratification is the action of signing …

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VP Osinbanjo says Government has no business own refineries

The Vice President, Prof. Yemi Osinbajo, has said the problems associated with Nigeria’s refineries will persist if the Federal Government continues to own and run them. Osinbajo said this at a virtual meeting organised for the All Progressives Congress social media bloggers and influencers at the APC National Secretariat, in Abuja, Monday. He said “If the refinery is left in …

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PPPRA says fuel subsidy gulped N8.94tn in 10 years

The Federal Government spent N8.94tn on petrol subsidy between 2006 and 2015, figures released by the Petroleum Products Pricing Regulatory Agency on Monday showed. Data from the PPPRA showed that during the 10-year period, the government consistently spent billions of naira subsidising Premium Motor Spirit, popularly called petrol. It said that in 2006, 2007, 2008, 2009 and 2010, the government …

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Naira exchange for 465/$ as CBN decries speculations

Declining export receipts from oil and speculative activities of the Bureau De Change operators among other challenges of the COVID-19 pandemic on the economy will put more pressure on the naira. The Central Bank of Nigeria said this in its report on ‘Monetary, credit, foreign trade and exchange policy guidelines for fiscal years 2020/2021’. The value of the naira plunged …

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WTO Okonjo-Iweala, remains in the race as three candidates dropped

World Trade Organization dropped three candidates from the race to be the next Director-General of the body. It also plans to reduce the contestants to two final candidates in the coming weeks. Nigeria’s Ngozi Okonjo-Iweala still remained in the race, according to Bloomberg on Friday. Okonjo-Iweala is a former finance minister in Nigeria and former Managing Director of the World …

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Federal Government orders all bank, account holders to re-register

The President, Major General Muhammadu Buhari (retd.) The Federal Government has ordered all account holders in the country’s financial institutions to register their details again. The order was given despite the possession of the Bank Verification Number and the National Identification Number by account holders. This new order was disclosed by the government on its Twitter account, @NigeriaGov, on Thursday. …

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Angry Youths shutdown Shell in Bayelsa

Youths of Agbidiama Community in the Ekeremor Local Government Area of Bayelsa State staged a protest on Thursday and shut down the Clough Creek flow station operated by the Shell Petroleum Development Company of Nigeria. They accused the SPDC of not providing employment and empowerment schemes, refusal to engage indigenous firms for catering services and neglect of the community and …

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