The Senate Wednesday approved President Muhammadu Buhari’s request for a $22,798,446,773.00 external loan .Newsannexonline recalls that Buhari had requested for the loan to fund critical infrastructure projects under the 2016 – 2018 External Borrowing Plan. The process of approving the loan by Senators however met vehement disagreements . Despite fforts by Senator Adamu Aliero (Kebbi… Continue reading President Buhari’s $22.7 bn Loan approved by Senate_Ada Nkong
Category: ECONOMY
Coronavirus might force a 2020 Budget review-Zainab Ahmed_Femi Ehiabhi
Following the economic impact of the deadly coronavirus, Zainab Ahmed, the minister of finance has hinted that the federal government may be forced to review the approved 2020 budget. The Minister disclosed this while briefing State House correspondents at the end of the Federal Executive Council, FEC, meeting presided over by President Muhammadu Buhari at the… Continue reading Coronavirus might force a 2020 Budget review-Zainab Ahmed_Femi Ehiabhi
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NIMASA:Jamoh to Replace Peterside_Ada Nkong
Reports reaching us say, President Muhammadu Buhari has approved the appointment of Bashir Jamoh as the director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA). Jamoh is to replace Dakuku Peterside who has headed the agency since 2016. Peterside’s tenure as NIMASA DG ends on March 10, 2020. Jamoh is currently the executive director… Continue reading NIMASA:Jamoh to Replace Peterside_Ada Nkong
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Extractive Sector: FIRS to rake in N4trn in Tax Revenue_Femi Ehiabhi
The Federal Inland Revenue Service (FIRS) said it would rake in four trillion naira as tax revenue from the extractive sector of the Nigerian economy in the 2020 fiscal year. The FIRS made this known in a statement issued by Abdullahi Ahmad, Director, Communications and Liaison Department in the service in Abuja on Tuesday. The… Continue reading Extractive Sector: FIRS to rake in N4trn in Tax Revenue_Femi Ehiabhi
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UBA hits N89.1Bn in Profit After Tax_Femi Ehiabhi
United Bank for Africa Plc (UBA) has posted a profit after tax of N89.1 billion for the financial year ended Dec. 31, 2019. The profit after tax represented a growth of 13.3 percent to N89.1 billion compared with N78.6 billion recorded in the correpsonding period of 2018. Its profit before tax stood at N111.3 billion… Continue reading UBA hits N89.1Bn in Profit After Tax_Femi Ehiabhi
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No OPEC Oil cut decision yet-Saudi Energy Minister_Femi Ehiabhi
OPEC hasn’t made a decision yet on whether to extend or modify its agreement to cut oil output, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said. The Organization of Petroleum Exporting Countries and its allies are to meet next week in Vienna to assess their global cuts and output policy. Prince Abdulaziz is confident… Continue reading No OPEC Oil cut decision yet-Saudi Energy Minister_Femi Ehiabhi
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FG Commences Upgrade of Instrument Landing Systems in Airports_Ada Nkong
An upgrade of nstrument landing systems across airports in Nigeria has commenced.A statement signed by James Odaudu, Director public affairs Ministry of Aviation says the Nigerian Airspace Management Agency (NAMA) has commissioned its newly installed Category 3 Instrument Landing System (ILS) at Runway 18 Right, Murtala Muhammed International Airport, Lagos as well as Runway 22… Continue reading FG Commences Upgrade of Instrument Landing Systems in Airports_Ada Nkong
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Funding: Key Challenge in Developing Rail Infrastructure_Ada Nkong
Stakeholders have identified funding as the key challenge being faced in the struggle to overhaul Nigeria's Rail infrastructure.Speaking at the infrastructure dialogue organized by TTL group under the Leadership of Dr Onuoha Nnachi with theme: Rail infrastructure rebirth, the issue of how to fund railway projects across the country took center stage.While the Director rail… Continue reading Funding: Key Challenge in Developing Rail Infrastructure_Ada Nkong
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Cashless Policy Implementation: No going Back-CBN_Femi Ehiabhi
The Central Bank of Nigeria (CBN) has said there is no going back on the full implementation of the federal government’s cashless policy which is expected to commence from April 1 across the country. The first phase of the cashless policy implementation started in Nigeria’s commercial hub, Lagos, on January 1, 2012. It expanded to… Continue reading Cashless Policy Implementation: No going Back-CBN_Femi Ehiabhi
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