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…Telecoms increase text message cost to ₦6.00 MTN Nigeria has increased its data prices following the recent approval by the Nigerian Communications Commission (NCC) allowing telecom operators to implement up to a 50 per cent tariff adjustment. The sharp increase, which has sparked widespread outrage among subscribers, saw the price of MTN’s 15GB weekly data plan jump from ₦2,000 to ₦6,000—a 200 per cent hike. Other data plans have also been adjusted, with the 75GB...

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The United Nigerian Textiles Limited, UNTL has owed Kaduna State Government substantial revenue totaling N1.2 billion. Following the failure of the company to offset the liabilities, the Kaduna State government has sealed the company. Aisha Ahmed, the Executive Board Secretary of Kaduna State Internal Revenue Service, KADIRS stated this in Kaduna during an enforcement operation, said intelligence information revealed that the company planned to relocate from Kaduna, adding that the company must pay what it...

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The Association of Local Governments (ALGON) has said 774 local governments in the country are to open dedicated accounts with the Central Bank of Nigeria (CBN) for the direct disbursement of allocations to them from the Federation Account. Bello Lawal Yandaki, National President of the Association, who spoke with reporters in Katsina, the capital of Katsina State said the opening of the account is critical to implementing the Supreme Court ruling on direct allocations to the councils....

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Adamawa State governor, Ahmadu Umaru Fintiri said the Mubi livestock market supplies 29 million animals to Lagos annually, generating N29 billion in revenue. Fintiri disclosed this during a meeting with the Minister of Livestock Development, Alhaji Idi Mukhtar Maiha, commended President Bola Ahmed Tinubu for creating the Ministry of Livestock Development and appointing Maiha as Minister. He emphasized the significant contribution of the livestock industry to the state’s economy. He called on the federal government...

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The National Bureau of Statistics (NBS) has announced plans to include illegal and hidden activities such as prostitution and drug peddling in the calculation of Nigeria’s Gross Domestic Product (GDP). This disclosure was made at a sensitisation workshop on GDP and Consumer Price Index (CPI) rebasing, organised in collaboration with the Nigerian Economic Summit Group (NESG). Speaking at the event, the Statistician General of the Federation, Prince Adeyemi Adeniran, explained that the rebasing exercise is...

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The Central Bank of Nigeria, CBN, has increased the monetary policy rate, MPR, from 27.25 per cent to 27.50 per cent to address the nation’s persistent inflation. This decision was announced during the Monetary Policy Committee, MPC, meeting held at the apex bank’s headquarters in Abuja on Tuesday. The MPR is the benchmark interest rate used by the CBN to regulate lending and borrowing in the economy. By raising the MPR, the CBN aims to...

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The Federal Government of Nigeria, through the Federal Ministry of Labour, has commended Chief Akai Egwuonwu, the Chief Executive Officer and Managing Director of Stine Industries, for the implementation of the new minimum wage. This commendation was conveyed by Mrs. Oji-Ogbuehi Bernadine, the Anambra State Controller, Federal Ministry of Labour, during a courtesy call to Chief Akai’s office in Awka. During the visit, Mrs. Bernadine and other senior Federal Ministry of Labour staff members noted...

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Petrol price reduction is imminent as the Independent Petroleum Marketers Association of Nigeria will commence direct sales of Dangote’s Premium Motor Spirit (Petrol) to its members. The direct sale agreement means that petrol marketers will no longer depend on imported fuel but will go for Dangote petrol. The agreement between IPMAN and the 650,000 barrels per day Dangote Refinery brings an end to the middleman posture played by the Nigerian National Petroleum Company Limited on...

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The Anambra State House of Assembly member representing Njikoka I constituency, Hon. Chidi Ibemeka, has commenced up skilling programme to train and equip his constituents with all the necessary tools that would enable them to thrive in the marketplace. The programme which commenced in Enugwu-Ukwu a few days ago, has St. Anthony’s Catholic Church Hall Enugwu-Ukwu, as the venue of the training. However, this training is expected to be extended throughout the Njikoka I State...

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The Central Bank of Nigeria, CBN, has signed an agreement with the International Finance Corporation, IFC, to expand local currency financing and mitigate foreign exchange risks for Nigerian businesses. The agreement, announced in a joint statement by the CBN and the IFC on Monday, aims to unlock over $1 billion in investments across key sectors of the Nigerian economy. According to the statement, the partnership will focus on sectors such as agriculture, infrastructure, housing, energy,...

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