IMF advises Tinubu to scrap electricity subsidy amidst economic crisis

BusinessEconomyNewsNigeriaIMF advises Tinubu to scrap electricity subsidy amidst economic crisis

By Ezinwanne Onwuka (Senior Reporter)February 13, 2024

The International Monetary Fund, IMF, has praised President Bola Tinubu for embarking on reforms ex-Presidents Muhammadu Buhari, Goodluck Jonathan and Olusegun Obasanjo “shied away from.” According to the IMF, “The new administration has made a strong start, tackling deep-rooted structural issues in challenging circumstances. Immediately, it adopted two policy reforms that its predecessors had shied away from: fuel subsidy removal and the unification of the official exchange rates.” But the global financial institution admitted that...

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Arewa New Agenda Rolls Out Plans To Create 10 Million Jobs For Youths

BusinessNewsNigeriaArewa New Agenda Rolls Out Plans To Create 10 Million Jobs For Youths

Hassan Umar Shallpella (Regional Correspondent)February 12, 2024

As part of an effort to empower youths, the Arewa New Agenda (ANA) at the weekend rolled out plans for the creation of 10 million jobs for youths across the 19 Northern States of Nigeria. Through its farming and agricultural initiative, ANA is expected to increase the current 35 percent of arable land across the country to 65 percent in the next four years, through different interventions such as agro-allied industry, food security by up to...

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Former Deputy Governor Embraces Abattoir Business

BusinessNewsNigeriaFormer Deputy Governor Embraces Abattoir Business

Hassan Umar Shallpella (Regional Correspondent)February 11, 2024

Former Deputy Governor of Osun state, Mr Benedict Alabi says he embarked on abattoir and farm investment to help in producing premium and hygienic meat for public consumption. Alabi who served as deputy governor of Osun from 2018 to 2022, during former Gov. Adegboyega Oyetola’s tenure disclosed this in an interview on Friday in Osogbo. “Kire Modernized Abattoir was unique in supplying hygienic meat to hotels, multinational catering clients, distributors, and direct sales via personal...

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ECCIMA Executives Visit Gov. Mbah, Reveal 2024 Trade Fair Theme

BusinessNewsNigeriaECCIMA Executives Visit Gov. Mbah, Reveal 2024 Trade Fair Theme

Ije Ulasi (Regional Correspondent)February 8, 2024

The Enugu State Governor, Dr. Peter Ndubuisi Mbah has reiterated his administration’s commitment towards the provision of infrastructure, support, and policy for private sectors to thrive in the State. Dr. Mbah stated this when he received members of the Enugu Chamber of Commerce, Industry, Mines, and Agriculture (ECCIMA) at the Government House on Wednesday. Applauding ECCIMA’s theme for the 2024 International Trade Fair slated to hold in April, the Governor said, the theme “Promoting Made...

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Governor Fintiri Orders Release Of N3b To Offset Pension Arrears

BusinessNewsNigeriaPoliticsGovernor Fintiri Orders Release Of N3b To Offset Pension Arrears

Hassan Umar Shallpella (Regional Correspondent)February 7, 2024

Governor Ahmadu Umaru Fintiri has ordered the release of three billion naira to the state pension board for clearance of the backlog of pension and gratuity of retired civil servants in the state. Fintiri disclosed this Tuesday while receiving leaders of the Nigeria Labour Congress ÑLC in Adamawa who were at his office to congratulate him on his victory at the Supreme Court. “Retired civil servants in the state have labored for the development of...

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Mining Sector: FG states commitment to recover unpaid royalties, taxes

BusinessNewsNigeriaMining Sector: FG states commitment to recover unpaid royalties, taxes

Uzoamaka Ikezue (Staff Reporter)January 28, 2024

…Deepens collaboration with RMAFC to curb revenue leakages The Federal Government has stated commitment to recover unpaid royalties and taxes in the mining sector. According to the Ministry of Solid Minerals Development and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has resolved to strengthen collaboration to block revenue leakages in the sector. Speaking while welcoming the RMAFC chairman, Mohammed Bello, and his team to his office recently, the Minister of Solid Minerals Development, Dr....

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150 Indian Companies Invested 27 Billion Dollars In Nigeria

BusinessNewsNigeria150 Indian Companies Invested 27 Billion Dollars In Nigeria

Hassan Umar Shallpella (Regional Correspondent)January 27, 2024

The Indian High Commissioner to Nigeria, H.E. Mr. Gangadharan Balasubramanian on Friday said 150 Indian companies have so far invested 27 billion dollars in Nigeria. The envoy disclosed this in Abuja at a dinner to mark the 75th Republic Day of India and noted that India and Nigeria enjoyed strong and historical relations with ties dating back to before Nigeria’s independence. “Our economic and trade relations are strong and growing. Currently, nearly 150 Indian companies...

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Skill Development Form Part Of Student-Loan Programme -Tinubu

BusinessNewsNigeriaSkill Development Form Part Of Student-Loan Programme -Tinubu

Hassan Umar Shallpella (Regional Correspondent)January 23, 2024

The Management of the Nigerian Education Loan Fund (NELFUND) has been directed to expand its focus area by extending interest-free loans to Nigerian students interested in skill-development programmes. President Bola Tinubu gave the directive at the State House on Monday after a briefing from Mr. Akintunde Sawyerr, Executive Secretary of NELFUND, on the build-up to the launch of the programme later in the month. In a statement released by the Special Adviser to the President...

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70 Hotels Risk Shutdown In Adamawa State

BusinessNewsNigeria70 Hotels Risk Shutdown In Adamawa State

Hassan Umar Shallpella (Regional Correspondent)January 22, 2024

Following the beheading of a woman by yet to to-identified suspected ritualist in Jimeta, the twin capital of Adamawa state, no fewer than 70 registered hotels in Adamawa State risk fizzling out of business if they fail to install Close Circuit Television CCTV cameras in their business premises. Adamawa State Deputy Governor, Kaletapwa George Farauta has six weeks for hoteliers to comply with government orders or have their business premises shut down. Farauta stated this...

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Anambra Investment Summit now an annual event, organizers confirm

BusinessNewsNigeriaAnambra Investment Summit now an annual event, organizers confirm

Ebuka Onyekwelu (Staff Writer)January 17, 2024

Mr. Mark Okoye, the Managing Director – MD of Anambra State Investment Promotion and Protection Agency – ANSIPPA, has said that the Anambra State Investment Summit whose maiden edition was held in September 2023, will now be an annual event and would therefore be held in 2024. Speaking during the Agency’s interface with select media practitioners entitled, “Partnerships, progress, and prospects”, Mark Okoye said that “there are plans for Anambra State Investment Submit in 2024”....

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