Category: Economy
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FAAN revenue increases by 68 % from automated MMIA car park
The Federal Airport Authority of Nigeria (FAAN) says monthly revenue has gone up by 68 per cent following the introduction of automated operation at the new car park at the Murtala Muhammed Airport (MMIA), Lagos. Mrs Henrietta Yakubu, General Manager, Corporate Communications, FAAN, told newsmen in Lagos on Tuesday that the automation had blocked revenue…
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Nigerian Stock Exchange Market loses N370bn on Tuesday
The Nigerian Stock Exchange (NSE) on Tuesday sustained seven-day falling streak with the market capitalisation shedding N370 billion in one day. The market capitalisation lost N370 billion or 2.41 per cent to close at N14.967 trillion against N15.337 trillion achieved on Monday. Similarly, the All-Share Index which opened at 42,737.89 lost 1,029.74 points or 2.41…
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NPA generates N299.5bn revenue in 2017
The Nigerian Ports Authority has generated N299.5 billion revenue in 2017, General Manager, Corporate and Strategic Communications, Alhaji Abdullahi Goje, said in a a statement Tuesday in Lagos. He said that the figure exceeded the N162.2 billion generated in 2016 by 84.65 percent. Goje added that the 2017 figure was the highest generated revenue by…
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Delta Govt takes measures to boost revenue from taxes
Chief David Edevbie, the Delta Commissioner for Finance, says the state’s decision to harmonise taxes and reduce tax consultants is to improve accountability and boost revenue from taxes. Edevbie made this known in an interview with the News Agency of Nigeria in Asaba on Tuesday. He said that the adoption of Electronic Treasury Receipt was…
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Oil prices rise to $70 on strong economy amid OPEC cuts
Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries (OPEC) and Russia. Spot Brent crude oil futures, the international benchmark for oil prices, were at 70 dollars a barrel at 0102…
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2018 budget: CSO tells NASS to avoid another budget padding scandal
Civil Society Legislative Advocacy Centre (CISLAC), a Non-Governmental Organisation (NGO) has called on the National Assembly to diligently scrutinise the 2018 Budget to avoid another budget padding scandal in the country. Legal Adviser of the organization, Mr Adesina Oke, made the call while addressing newsmen in Abuja and said that it was imperative to eliminate…
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‘We’ll accomplish everything’: President Buhari begs Nigerians to keep faith
Amidst the economic and security challenges Nigeria is faced with, President Muhammadu Buhari has pleaded with citizens of the country asking them to “keep faith” with his administration. President Buhari, in a statement, said his administration is making progress in stabilizing the Naira and improving business environment. He said his administration will again focus much…
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PMS scarcity: Sell at N145 or lose your petrol, DPR warns marketers in Anambra
The Department of Petroleum Resources (DPR) has warned marketers within its Enugu Zone to comply with N145 pump price of Premium Motor Spirit (PMS) or have their products dispensed to customers free. Mr Unyime Akpan of Health, Safety and Environment Department, DPR Enugu Office, gave the warning in Awka when he led an enforcement team…
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Anchor Borrowers Programme: Input suppliers seek Delta state intervention over N40m debt
Input suppliers and off-takers under the Anchor Borrowers Programme (ABP) in Delta have called on the state government to help facilitate payment for their supplies to farmers under the scheme. Mr Emmanuel Ogidi, who spoke on behalf of the suppliers, made the appeal in an interview with News Agency of Nigeria on Tuesday in Abuja.…
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Fuel scarcity: NNPC releases 250 trucks to Lagos — Spokesman
The Nigerian National Petroleum Corporation (NNPC) on Sunday said that it had released 250 trucks of petrol to Lagos metropolis for effective dispensing at filling stations to forestall any scarcity. Mr Ndu Ughamadu, the corporation’s Group General Manager, Group Public Affairs Division, disclosed this in an interview with News Agency of Nigeria in Lagos. According…