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Nigeria records losses on onion production annually - NOPMAN
Foods

Nigeria records losses on onion production annually – NOPMAN

Nigeria’s National Onion Producers, Processors, and Marketers Association reported that Nigeria produces two million metric tons of onions annually, with 40% being Sokoto’s total production. This was said by the President of the association, Isah Aliyu Maitasamu, during the weekend’s commissioning of the country’s first factory for processing onions and garlic, in Sokoto. “Nigeria produces about 2 […]

Kogi residents lament scarcity of new naira note
Economy

CBN denies phasing out redesigned naira notes

By Wilson Adekumola   The Central Bank of Nigeria has dispelled the reports going viral including social media platforms that it planned to phase out the newly redesigned N1, 000, N500 and N200 notes.   Vangaurd reported that the Acting Director, Corporate Communications of the bank Dr. Isa AbdulMumim, regarded the reports as “fake news.” […]

How more taxes'll reduce debt load - FG
Business

FG re-introduces excise duty on telecoms – Report

The Federal Government has once again begun plans to implement the 5% excise duty on telecommunications services. Nairametrics reported that this additional tax is part of the new Fiscal Policy Measures for 2023, which were announced on April 20, 2023, through a Circular signed by the Minister of Finance, Budget, and National Planning, Zainab Ahmed. […]

Partnerships will boost Nigeria's infrastructure deficit - Greenwich Bank
Economy

Partnerships will boost Nigeria’s infrastructure deficit – Greenwich Bank

The Managing Director of Greenwich Merchant Bank, Bayo Rotimi has said that the Nigerian government needs to embrace partnerships to overcome the challenge of the country’s infrastructure deficit. Rotimi, who was speaking during a media chat in Lagos noted that the best strategy the country can use right now to finance infrastructure is to look […]

IOT West Africa flier organised by Vertex Next
Business featured

Dubai firm to host tech event in Nigeria 

Dubia headquartered firm, Vertex Next has stated that it would be hosting an event that focuses on emerging trends in blockchain technology, big data, and artificial intelligence. The tech event themed “IOT West Africa Conference and Exhibition” is slated to hold from July 4 to 6, 2023, at the Landmark Centre in Lagos. Vertex Next’s […]

A picture of 20 youth trained by nestle
Business

Nestlé reaffirms commitment to youths’ technical training

Nestlé Nigeria has reaffirmed its commitment to reducing the lack of technical skills by providing young individuals with the necessary abilities to help speed up industrial development and advance Nigeria’s economy. According to The Punch, the Managing Director and Chief Executive Officer of Nestlé Nigeria, Wassim Elhusseini, made this statement during the third graduation ceremony […]

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Uncategorized

Spain to invest €6.6bn in youth vocational training

The Prime Minister of Spain, Pedro Sanchez on Saturday announced that the government will be investing €1.3 billion in vocational training, which is the largest commitment ever made by any government. The Prime Minister announced the new investment during a Socialist Party event in Pamplona. Speaking about the magnitude of the project, he said, “It […]

NNPCL fuel subsidy gains not fully remitted - World Bank
featured

How Nigeria can stabilize economy – World Bank

Increased oil revenues are one strategy the Nigerian government can use to regain macroeconomic stability, according to the World Bank. This was stated in the April 2023 Macro Poverty Outlook by the World Bank. According to this, the government may improve the economy by enacting some measures; Increase oil and non-oil revenues, tighten monetary policies to […]

How increased electricity access will drive investment - Seplat
Oil and Gas

Seplat Energy records 36.9% revenue growth despite crisis

Seplat Energy Plc, an indigenous oil exploration business, increased its revenue from $241.8 million to $331 million in the first quarter of 2023, a 36.9% increase. The Punch reported that the company’s core annual dividend aim was raised by 20% to US 12 cents with a quarterly dividend of three cents, according to its unaudited financial […]

How Canada's largest strike will affect its economy - Report
Economy

How Canada’s largest strike will affect its economy – Report

Analysts have predicted that the largest strike in Canadian history, which is currently on the tenth day, will have an impact on this month’s growth. With the overall effect being a lower start to the second quarter than had been anticipated, the Canadian economy grew less than expected in February from the previous month due to […]

Business

Aba landlords request power restoration, threatens protest 

The Aba Landlord Protection and Development Association has requested that the Transmission Company of Nigeria lift the disconnection order of Aba Power Limited Electrical from the national grid immediately. This was revealed in a letter accessed by The Punch, where the group alleged that the TCN is not complying with the provisions of market rules […]

Economy

Why Nigeria’s economic development will drop in 2023 – KPMG

From the KPMG Nigeria 2023 Annual CFO Outlook Survey, 41% of CFOs think there won’t be any discernible growth at all. The delayed withdrawal of fuel subsidies, an unstable foreign currency environment, a high rate of inflation, insecurity, and the tax and regulatory environment are some of the reasons the CFOs provided for the lackluster […]

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