Category: Economy
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Nigerians groan as banks, PoS operators trade blame over cash scarcity
Some residents of Ibadan have decried the persistent cash scarcity, even asamidst banks and Point of Sales (PoS) operators are trading blames over the situation. Describing their experiences in separate interviews in Ibadan on Sunday, the residents said not so much had changed from what the situation was the last yuletide.
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FG receives $2.25m from Afreximbank in landmark $3.3bn crude oil prepayment facility
The federal government of Nigeria has received an initial disbursement of $2.25 million from Afreximbank in a landmark syndicated $3.3bn crude oil prepayment facility.
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FG moves to tackle food inflation
The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, says plans are underway to reduce food inflation in the country.
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Port-Harcourt Refinery test run to be completed this January – NNPCL
The Port Harcourt refinery has been revealed by the Nigerian National Petroleum Corporation Limited that it would complete its test run this month of January.
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How FG, States, LGAs shared N1.08trn in November FAAC allocations
The Federation Account Allocation Committee (FAAC) has shared N1.088.783 trillion November revenue to the Federal Government, States and Local Government Councils (LGCs).
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Inflation, exchange rates to decline in 2024 – CBN
Central Bank of Nigeria (CBN) says the rising inflation and exchange rates will decline in 2024. The apex bank also projected less revenue from oil exports in the coming year.
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Naira scarcity: We have N3.4trn in circulation – CBN
The Central Bank of Nigeria (CBN) has reassured Nigerians of enough Naira notes in circulation, to carter for their cash needs.
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Nigeria will meet 1.7m bpd oil production in 2024 budget – Lokpobiri
The Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, says Nigeria will meet and surpass the 2024 crude oil production budget benchmark of 1.7 million barrels per day (bpd). Lokpobiri said this at a stakeholder’s interactive
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FG rakes in N948 billion in VAT payments
The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N948.07 billion in Q3 2023.
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IMF tells CBN to further hike MPR
The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to further hike Monetary Policy Rate (MPR) when next its Monetary Policy Committee (MPC) meets. The position of the Fund was given by its Director of Communications, Ms. Julie Kozack, in Washington DC, United States of America. She noted that the liquidity…