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Category: Economy and Capital Markets
Nigeria’s power sector’s problems are surmountable, says Otedola
Femi Otedola, Chairman of Geregu Power, believes Nigeria’s power sector problems are surmountable with leadership and willpower, he said at Geregu’s first annual general meeting as a listed company. Otedola…
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Nigeria’s debt stock increases by 6.69trn in 1 year
Nigeria’s total public debt stock increased to N46.25 trillion or $103.11 billion as of December 2022, representing a N6.69 trillion increase from N39.56 trillion in December 2021. The Debt Management…
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Loan Apps: A Look Into Google Play Store Disabling Defaulting Lenders
In Nigeria, digital loan lenders (aka loan sharks) are becoming increasingly unpopular going by their crude approach to attracting interested borrowers as well as recouping loans. They go as far…
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CBN gives contact details to report PoS operators charging above approved rate
The Central Bank of Nigeria (CBN) has taken steps to combat the issue of Point of Sales (PoS) operators who sell, issue, or charge above the approved rates. The CBN…
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Kuwait Oil Company Declares State Of Emergency After Onshore Oil Spill
The state-owned company of one of OPEC's top producers, Kuwait Oil Company, has announced a state of emergency on Monday, following an oil leak on land. The company was quoted by AFP…
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Nigeria’s current 1.3m production output highest in 13 months
Nigeria’s crude oil output rose to 1.3 million barrels per day in February, the highest in 13 months. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its latest…
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Tax: Manufacturers Pay N840 Billion In One Year
Data from the National Bureau of Statistics (NBS) has shown that taxes paid by manufacturers to the Federal Government rose by 60 per cent to N839.6 in 2022 from N524 billion…
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CBN: Despite Supreme Court’s order naira scarcity persists
Nigerians are still struggling to obtain cash (old and new naira banknotes) days after the Supreme Court ordered the Central Bank of Nigeria to allow the old N200, N500 and…
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Old Naira notes remain valid till Dec 31
The Supreme Court has declared the Federal Government’s naira redesign policy unconstitutional and ordered that old N200, N500, and N1000 notes remain in circulation until December 31, 2023. The court…
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Fuel hits N300/litre as marketers halt loading
Oil marketers, on Tuesday, said many depots had stopped loading Premium Motor Spirit, popularly called petrol, due to the apprehension caused by the collation of results of the general elections…
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