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Business and Economy

Nigeria’s debt service to revenue ratio will reduce as revenue improves – Udoma

Budget and National Planning Minister, Senator Udoma Udo Udoma has explained that Nigeria’s debt service/revenue ratio appears high because the country is currently facing a revenue challenge. He however pointed out that as revenues improve, the ratio will consequently reduce. The Minister, who was speaking at a Stakeholders’ Dialogue on …

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Forex: CBN wields big stick …bars erring banks from SME Wholesale Forex window …ban takes effect from May 2, 2017

  Following persistent complaints that some deposit money banks (DMBs) have deliberately frustrated efforts by many small and medium enterprises (SMEs) to access forex from the new window created by the Central Bank of Nigeria (CBN), the apex Bank on Tuesday, May 2, 2017, barred all but eight banks from …

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Ambode’s making life worth living worth living for Lagosians – Obasanjo … ICAN Award, crowning moment for my career, says Gov

Former President of Nigeria, Chief Olusegun Obasanjo on Friday evening showered encomiums on the Governor of Lagos State, Mr Akinwunmi Ambode for his administration’s programmes and policies at improving the lives of the people of the State. Speaking at the 2017 Annual Dinner and Awards of the Institute of Chartered …

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Benefits of cooperation in oil marketing and distribution among ECOWAS nations By Prof. Chijioke Nwaozuzu

    Prospects for economic growth are driven by energy consumption, which is dependent on availability, accessibility and affordability of the energy sources/resources. Statistics have shown that Sub-Saharan Africa countries are projected to grow in number at an average rate of 1.2%, leading to a population of about 500 million …

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CBN sells $25m in new FX window for investors, exporters … Dealers fail to subscribe fully to CBN’s $150m offer

  The Central Bank of Nigeria (CBN) on Tuesday, April 25, 2017, commenced interventions in the new Investors’ & Exporters’ FX Window with the sale of $25million to customers through authorized dealers. This was disclosed by the Bank’s spokesman, Isaac Okorafor, who reiterated that the window was established to boost …

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Power generation: FG partners ADB to fund coal initiatives ….as Minister urges investors to invest in Nigeria’s huge coal reserves

Determined to solve the power issue in the country, the Federal Government is to partner with the African Development Bank (ADB) to fund coal projects in the country. The Minister of Mines and Steel Development, Dr Kayode Fayemi, disclosed this during a meeting with stakeholders in the mining sector and …

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