Debt Management Office Announces N150bn FG Bond for Auction

EconomyInvestingDebt Management Office Announces N150bn FG Bond for Auction

Bada Yusuf Amoo (Correspondent)April 14, 2021

The Debt Management Office (DMO), on Wednesday, announced the auctioning of three Federal Government bonds of N150 billion at N1, 000 per unit. Details obtained from DMO’s website said that the three bonds were valued at N50 billion each, with interest rates of 16.29 per cent; 12.50 per cent, and 9.80 per cent, respectively. It listed the auction date as April 21, while the settlement date is April 23. “Minimum units for sale are N50,...

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JobsWest AfricaECOWAS Should Reject Nominations from Countries Without 30% Women Representation – Lawmaker

Bada Yusuf Amoo (Correspondent)April 14, 2021

Gambian Lawmaker, Hon. Fatmata Njai says the ECOWAS Parliament can achieve 30 per cent representation of women in parliament only if it rejects nominations from countries not meeting the criteria. Njai expressed this thought while speaking with journalists during the Fifth Legislature’s Delocalized meeting of the ECOWAS Parliament holding in Monrovia with the theme, “Empowerment of Women in the ECOWAS Region.” Njai said it was pertinent to note that some countries lacked female representation in the Conference...

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Lion Business Park Unveiled In Enugu Free Trade Zone

BusinessLion Business Park Unveiled In Enugu Free Trade Zone

Ije Ulasi (Regional Correspondent)April 14, 2021

The Lion Business Park, LBP, a commercial initiative promoted by Lion Business Park Ltd and the Enugu State Government of Nigeria on Tuesday was unveiled by the Enugu State Governor, Ifeanyi Ugwuanyi. The Park sits on two thousand (2000) hectares of land within the Enugu Free Trade Zone near popular 9th Mile Corner, Enugu is the biggest economic hub in the South-East geopolitical zone in Nigeria with an estimated investment portfolio of $12 billion (USD)...

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DPR Revokes 32 Refinery Licenses As Dangote Refinery Reaches 80% Completion

BusinessInvestingOil & GasDPR Revokes 32 Refinery Licenses As Dangote Refinery Reaches 80% Completion

Bada Yusuf Amoo (Correspondent)April 13, 2021

The Department of Petroleum Resources (DPR) has disclosed that 32 refinery project licenses issued to private investors in the country have become invalid in the past three years. According to the DPR, the numbers of valid refinery project licenses presently in the country are 23 as of March 2021, from the 44 in April 2018. Analysis of the agency’s new list of valid refinery project licenses and that of April 2018 revealed that 32 licenses...

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FG Printed N60bn to Share In March – Obaseki

EconomyNewsNigeriaPoliticsFG Printed N60bn to Share In March – Obaseki

Bada Yusuf Amoo (Correspondent)April 12, 2021

Edo State Governor, Godwin Obaseki, has said Nigeria is in “huge financial trouble” with the way the economy is run. Obaseki lamented that Nigeria was the only country in the world where the federal, state and local governments earn salaries at the end of the month, adding that the Federal Government printed N60bn as part of federal allocation for March. Speaking at the state transition committee stakeholders’ engagement, the governor said the economy was no...

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Nigerian Labour Congress Reacts To Mass Sack Of Workers In Kaduna

JobsLabourNewsNigeriaNigerian Labour Congress Reacts To Mass Sack Of Workers In Kaduna

Hassan Umar Shallpella (Regional Correspondent)April 8, 2021

The Nigerian Labour Congress (NLC), Kaduna State Council, has condemned the mass sack of workers in the state public service. The NLC was reacting to the sack of local government workers who are above 50 years and pegging the total number of staff in each local council at 50 workers. The state NLC Chairman, Mr. Ayuba Suleiman, made the condemnation at a press conference on Wednesday in Kaduna said the government has ordered the conversion...

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Oil Prices Fall As US Gasoline Stocks Surges

BusinessNewsOil & GasOil Prices Fall As US Gasoline Stocks Surges

Beloved John (Staff Writer)April 8, 2021

The prices of crude oil dropped after official figures showed a significant rise in the gasoline inventories of the United States. The price of Brent crude, the grade at which Nigeria’s crude oil is benchmarked, decreased by 0.41 percent and stood at $62.89 a barrel as of Thursday afternoon. The US West Texas Intermediate (WTI) crude also declined by 0.65 percent, to $59.38 a barrel. The U.S. Energy Information Administration (EIA)  had earlier mentioned that...

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IMF Projects Higher Economic Growth for Nigeria in 2021

EconomyInvestingNewsNigeriaIMF Projects Higher Economic Growth for Nigeria in 2021

Beloved John (Staff Writer)April 6, 2021

The International Monetary Fund (IMF) says Nigeria might experience a 2.5 percent economic growth in 2021. The new growth projection is 1.0 percent higher than IMF’s 2021 forecast in January which was estimated at 1.5 percent. The Washington-based institution disclosed this on Tuesday during the 2021 Virtual Spring Meetings. IMF also predicted a growth of 3.4 percent for the Sub-Saharan Africa region in 2021, up 0.2 percent, from the previous forecast. It also lifted its...

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1.5bn For Port Harcourt Refinery Rehabilitation Too Outrageous – Reps Caucus

BusinessNewsOil & Gas1.5bn For Port Harcourt Refinery Rehabilitation Too Outrageous – Reps Caucus

Bada Yusuf Amoo (Correspondent)April 1, 2021

The House of Representatives minority caucus has condemned the $1.5bn approval for the rehabilitation of the Port Harcourt refinery, describing the figure as ‘outrageous and heavily inflated’. The lawmakers, there, called for an immediate review of the cost. In a statement issued by the minority leader of the Green Chamber, Ndudi Elumelu, on Tuesday, disclosed that the caucus reached the conclusion after a thorough evaluation of the proposal. The statement was titled, ‘Reps Minority Caucus...

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How I Featured Adeboye In My New Song – Tim Godfrey

BusinessEntertainmentMusicHow I Featured Adeboye In My New Song – Tim Godfrey

Bada Yusuf Amoo (Correspondent)March 30, 2021

Popular gospel artiste, Tim Godfre, has revealed how he featured the General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, in his new song. The Gospel singer revealed this during a listening event for his new music project. He said, “When Daddy GO travels, it is countries that host him. How did God show us so much favour? If God asks you to take a step, please jump; so long as...

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