Tag: Economy
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Relocation Saga: Our economy will be affected if you move, FG begs T.B. Joshua
…Promises to address whatever challenges the prophet is facing The federal government on Tuesday appealed to the founder of Synagogue Church of All Nations (SCOAN), Prophet T.B. Joshua to reconsider his decision to relocate his ministry to Israel. The plea was made by the Minister Information and Culture, Alhaji Lai Mohammed. He said the move…
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Stop sabotaging our economy, Obasanjo warns foreigners
Former President Olusegun Obasanjo has warned foreigners and foreign companies doing business in Nigeria to stop engaging in acts capable of weakening the nation’s economy. Obasanjo noted that majority of the foreigners won’t dare do some of the things they do in Nigeria in their various countries because they don’t want to undermine their country’s…
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Recession: what other states can learn from Lagos – Reps
As Nigeria gradually makes its way out of economic recession, the House of Representatives on Wednesday commended the Lagos State Government’s role, saying that the success story of the State was not only benefitting residents, but helping to get the nation’s economy back on track. Chairman of the House of Representatives Committee on Economic Recession,…
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We are seeing progress in Nigeria’s economy – Osinbajo
Vice President Yemi Osinbajo says Nigeria is beginning to “see a bright light at the end of the tunnel” in the nation’s economy. Osinbajo said this Thursday in Jimeta, Adamawa at the commissioning of several road projects completed by Governor Mohammed Umar Jubrilla Bindow. and attended by the Secretary to the Government of the Federation,…
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Attract investors to Nigeria to improve economy, Osinbajo charges ambassadors-designate
Vice President Yemi Osinbajo on Tuesday urged the ambassadors-designate to use their positions to attract investors and enhance the Foreign Direct Investment of the country. Osinbajo made the call in Abuja at the closing ceremony of a five-day induction programme for the 45 non-career ambassadors-designate. He said that the present administration was determined to create…
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South East Governors’ Forum sets up committee to boost ailing economy
The South East Governors’ Forum has set up a 10 member committee to fashion out ways to integrate and boost economy of the zone. The Chairman of the forum, Gov. Dave Umahi of Ebonyi, disclosed this to newsmen in Enugu on Sunday at the end of its meeting. Umahi said that the committee made up…
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We’ll reposition economy by leveraging on ICT – FG
The Ministry of Communications says the Federal Government is repositioning the country’s economy by leveraging on Information Communications Technology, ICT. A statement issued in Abuja by Mrs Pauline Sule, the Assistant Chief Information Officer, quoted Mr Sonny Echono, the Permanent Secretary of the ministry as saying this at the 6th edition of DSTV Eutelsat Star…
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CBN retains 14% monetary policy rate, says economy still in recession
The Central Bank of Nigeria, CBN, on Tuesday allayed fears in some quarters when it unanimously resolved to retain all monetary rates. At the end of the Monetary Policy Committee meeting, the monetary policy rate for banks and businesses was retained at 14 per cent, while Cash Reserve Ratio (CRR) was left at 22.5 per…
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Nigeria’s economy won’t improve in 2017 – Peter Obi
The immediate past governor of Anambra State, Peter Obi has said the nation’s economy may not improve in 2017 because of the attitude of the incumbent administration to the crisis. Obi disclosed this in an interview with CNBC Africa on Monday. He said Nigeria is like a faulty vehicle which does not necessarily needs another…
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Nigeria’s economy will rebound this year – World Bank
Amidst the current economic challenges facing the country, the world bank has offered some hope as it predicted a better economy for the year. The bank noted that the nation will grow its Gross Domestic Product, GDP by one percent and move past the recession timeline. This was revealed in a statement by the…