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BusinessEconomyNewsPoliticsWorld NewsOkonjo-Iweala Emerges Sole Candidate for WTO Second Term

By Ezinwanne Onwuka (Senior Reporter)November 10, 2024

Dr Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation, WTO, has been confirmed as the sole candidate for a second four-year term, with overwhelming support from member states. This development follows the African Group’s proposal for Okonjo-Iweala’s reappointment, backed by 58 countries. Okonjo-Iweala, who made history as the first woman and African to lead the global trade body in 2021, is set to conclude her first term on 31 August 2025. The WTO formally...

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EconomyNewsNigeriaPoliticsRemoval of petrol subsidy: NNPC adjusts pump price of petrol to reflect ‘market realities’

By Ezinwanne Onwuka (Senior Reporter)June 1, 2023

The Nigerian National Petroleum Company, NNPC, Limited has adjusted the price of petrol, also known as premium motor spirit, PMS, across its retail outlets nationwide. In a press statement on Wednesday, Garba Deen Muhammad, the chief corporate communications officer of NNPC Ltd, said the adjustment is in line with market realities. Recall that President Bola Tinubu in his inaugural address on Monday had announced the removal of the petrol subsidy, saying that his administration will...

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BusinessEconomyNewsNigeriaCJN lauds Emefiele, CBN over reforms in financial sector 

By Uzoamaka Ikezue (Staff Reporter)May 25, 2023

Justice Olukayode Ariwoola, the Chief Justice of Nigeria (CJN) has commended the Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele, and the bank, for the unwavering effort, dedication and proactive initiatives towards the growth of the economy. Justice Ariwoola disclosed this on Wednesday, 24 May 2023, while declaring open the 2023 Central Bank of Nigeria Capacity Building Workshop on Banking and Financial Services Sector for Judicial Officers, which he said was designed...

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BlogColumnsEconomyMoneyNigeriaOpinionBuhari’s Unforced Error

PilotnewsFebruary 18, 2023

A poorly thought out and poorly timed monetary policy sends Nigeria into a tailspin.   Even for an administration notorious for its capricious decision-making, the outgoing Buhari government’s decision to implement a complex currency-swap policy on the eve of a national election has been something of a head-scratcher. To say that the policy is proving very costly is to put it mildly. While both President Muhammadu Buhari and Central Bank of Nigeria (CBN) Governor Godwin Emefiele remain...

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EconomyMoneyNewsNigeriaCurrency Swap: Buhari Expresses Concern As Nigerians Queue in Banks, Finance Minister Reveals

By Uzoamaka Ikezue (Staff Reporter)February 2, 2023

Hajia Zaniab Ahmed, the Minister of Finance, Budget, and National Planning, has revealed that  President, Muhammadu Buhari is concerned about the pain Nigerians are going through in accessing the redesigned naira notes. Ahmed disclosed this on Thursday when she was featured at the 65th State House briefing organized by the Presidential Media Team and likened the current situation experienced by Nigerians to a patient having a wound or deep sore, but must submit to excruciating...

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EconomyLocal GovernmentNewsNigeriaProtest Hits Enugu As Residents Cry Against Cost Of Livelihood

Ije Ulasi (Regional Correspondent)February 2, 2023

Despite the billions of new naira notes purportedly printed by the Central Bank of Nigeria and the diverse channels the apex bank listed for the dispense of the naira, the transition to its usage is causing untold hardship to the masses. Long queues at banks and filling stations have become the new normal hence the outrageous hike in food items and other commodities. The pressure is too much and if not strategically arrested can lead...

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BusinessEconomyNewsNigeriaTransportationPresident Buhari Commission Largest Sea Port In Africa

Hassan Umar Shallpella (Regional Correspondent)January 25, 2023

The Lekki Deep Sea Port, Nigeria’s deepest sea port situated within the Lekki Free Zone in Lagos and currently the largest in Africa, was inaugurated by President Muhammadu Buhari on Monday. The President who arrived at the venue in a helicopter alongside the Governor of the State, Mr. Babajide Sanwo-Olu cut the ceremonial tape at the Port at 4:42 pm The Managing Director of the Nigerian Ports Authority, NPA, Mr. Mohammed Bello-Koko said the agency...

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EconomyMoneyNewsNigeriaCBN Governor Says New Naira Notes Will Fight Corruption

Hassan Umar Shallpella (Regional Correspondent)January 19, 2023

The Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the new naira notes “will fight corruption” in Nigeria. The CBN Governor who  made the remark during a one-day sensitization meeting with stakeholders on the redesigned naira notes and the use of e-naira, organised by the Apex Bank in Jigawa state, stressed that the new naira notes of 200, 500 and 1000 where re-designed to fight corruption in Nigeria. Emefiele, who was represented by Rifkatu...

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BusinessEconomyNewsNigeriaDigital Economy: “Nigeria Still has a Long way to go” – Geeksvillage founder

Ebuka Onyekwelu (Staff Writer)November 17, 2022

Digital economy has gained traction in the lexicon of Nigeria’s public office seekers, to the extent that many “youth empowerment” programmes of power seekers now contain some sort of activities relating to acquisition of digital skills, by the citizenry. But in reality, many of those with thriving digital footprints, set out on their own without any form of “empowerment”. This is the story of Geeksvillage, just like many other digital and tech solution providers in...

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EconomyNewsGovernor Soludo Presents 2023 Anambra Budget, the Biggest in the State’s History

Ebuka Onyekwelu (Staff Writer)November 10, 2022

AWKA — Anambra State Governor, Prof. Chukwuma Soludo has submitted the 2023 appropriation bill to the State Assembly for consideration and eventual passage in due time. The appropriation bill titled, “Budget of Acceleration”, has a total budget size of N258, 970, 175 and as such, by far the biggest budget size ever submitted to the House by any governor of the state. High point of the governor’s remarks during the budget presentation includes the fact...

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