Economy
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Petrol price hike’ll worsen inflation, hurt businesses – MAN, LCCI warn
The Manufacturers Association of Nigeria (MAN) says the recent petrol price hike may result in an increase in the prices…
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With $16.5bn debt, Nigeria now third largest debtor to World Bank
Nigeria is the third-largest debtor to the World Bank’s International Development Association (IDA) as of June 30. According to…
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SMEDAN to SMSEs: Don’t close shops because of bad economic hardships
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has advised those proposing to float small and medium scale…
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Forex Crisis: Nigeria’s foreign trade payments crash by 57%
Nigeria’s Letter of Credit payments in the first seven months of 2024 have dropped by 57.04 per cent to $391.91m…
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FG gives traders one month to crash prices
The Federal Competition and Consumer Protection Commission (FCCPC) has given a one-month moratorium to traders and other market stakeholders involved…
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Naira slumps further to N1,620 in parallel market
The Naira, Wednesday, depreciated to N1,620 per dollar in the parallel market from N1,615 per dollar on Tuesday. Similarly,…
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CBN lifts suspension on bank borrowing, sets new lending rate
The Central Bank of Nigeria (CBN) has lifted its suspension on banks borrowing from its window, known as the Standing…
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N83bn, $609m recovered in six years through whistleblowing policy
Minister of Finance, Wale Edun says the whistleblowing policy has helped the federal government to recover N83 billion, $609 million,…
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Despite 40% rise in FAAC revenue, 21 States seek N1.65trn loans
Twenty one states of the federation are seeking loans amounting to N1.65 trillion to fund their 2024 budget deficits despite…
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Nigeria’s average GDP growth rate has remained negative since 2014 – WTO boss Okonjo-Iweala
The Director General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has observed that Nigeria’s Gross Domestic Product (GDP) growth…
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