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  • Governor Abubakar visits oil prospecting site, commends FG’s commitment

    Governor Mohammed Abdullahi Abubakar has commended federal government’s effort through the Nigerian National Petroleum Corporation (NNPC) in prospecting for oil in Benue Trough of the Gongola basin. He stated this on Thursday when he visited the site...

    • Posted March 10, 2017
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  • Debt: CBN, NCC to meet with Etisalat, banks Friday

    The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) will Friday hold a fresh meeting with Etisalat Nigeria and a consortium of banks over the failure of the telecom company to pay back N541.8billion...

    • Posted March 10, 2017
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  • FG looks to 2020, targets 7% growth under economic recovery plan

    The much-awaited Economic Recovery and Growth Plan (ERGP) of the federal government, which targets a gross domestic product (GDP) growth rate of 7 per cent by 2020, was finally released on Tuesday, paving the way for government...

    • Posted March 9, 2017
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  • Debt: NCC moves to rescue Etisalat

    The Nigerian Communications Commission (NCC) has said it is discussing with the Central Bank of Nigeria (CBN) and some commercial banks in the country over the unpaid loans issue they have with Etisalat Nigeria. A top NCC...

    • Posted March 9, 2017
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  • Senate rejects Customs’ plan to impound vehicles

    The Senate yesterday rejected plans by the Nigeria Customs Service (NCS) to impound vehicles whose customs duties have not been paid. Adopting a motion by Deputy Senate Leader, Bala Na’Allah (APC, Kebbi) the Senate directed the NCS...

    • Posted March 9, 2017
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  • Fresh $100m brings CBN forex interventions to $1.138bn in two weeks

    The Central Bank of Nigeria (CBN) on Tuesday, credited commercial banks with $100 million for school fees, personal travel allowances (PTA) and medical bills abroad. This fresh injection by the apex bank brings the amount so far...

    • Posted March 8, 2017
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  • FG releases much-awaited economic recovery plan, wants oil at 2.5mbpd by 2020

    The federal government has finally released its economic recovery and growth plan (ERGP), which has been in the works since 2016. The document seen by TheCable is a medium term plan aimed at revamping the economy between...

    • Posted March 8, 2017
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  • FIRS nets N27bn from ‘tax amnesty’, registers 814,000 new taxpayers

    Tunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), says the agency realised N27.086 billion from the waiver of tax penalty and interest programme. The programme was introduced to allow defaulters regularise their relationship with...

    • Posted March 8, 2017
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  • Nigeria recorded N290bn trade deficit in 2016 – NBS

    Nigeria recorded a trade balance of -N290.13 billion out of the total trade value of N17.34 trillion recorded in 2016. The Foreign Trade Statistics for the last quarter of last year released at the weekend by the...

    • Posted March 7, 2017
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  • NLNG pays FG lowest dividend in 10 years

    Dividend payments to the federal government for its 49 per cent stake in the Nigeria Liquefied Natural Gas (NLNG) has dropped to its lowest since 2007, Daily Trust reports. The NLNG which is owned by four shareholders:...

    • Posted March 7, 2017
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  • Ban on importation of poultry products has increased productivity – Farmers

    Poultry farmers in Ilorin have commended the Federal Government for banning importation of poultry products, which has increased productivity and availability of markets. The farmers, who spoke in separate interviews with the News Agency of Nigeria (NAN)...

    • Posted March 6, 2017
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  • OPEC’s next challenge is to solidify gains from production cut – Barkindo

    Nigeria was exempted from a deal between 13 OPEC  member and 11 non-OPEC countries to cut their oil production in order to boost price. What was the consideration for exempting Nigeria? How long would it last and...

    • Posted March 6, 2017
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  • Fertiliser to cost less than N6,000 per bag – Ogbeh

    The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, says a bag of fertiliser in the country will soon cost less than N6, 000. Ogbeh, who gave the assurance when he appeared on News Agency of...

    • Posted March 6, 2017
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  • CBN takes battle to speculators, pumps additional $350m to energise Naira

    As part of its resolve to sustain the positive momentum in the foreign exchange (FX) market, the Central Bank of Nigeria (CBN) again pumped additional $350 million into the market this weekend. This will take the total...

    • Posted March 5, 2017
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