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SEC shuts down Ponzi scheme in Kano

The Securities and Exchange Commission (SEC) has sealed off the premises of Dantata Success and Profitable Company, Kano for engaging in illegal capital market activities,

Federal government to raise daily crude oil production by two million barrels

Emmanuel Ibe Kachikwu, the Minister of State, Petroleum Resources, has said that the Egina FPSO project, once commissioned this month, will increase Nigeria’s daily crude oil production by 200, 000 barrels.

Udoma Udoma: Federal government committed to expanding export of locally produced goods, services

The Minister of Budget and National Planning, Senator Udoma Udo Udoma says the Federal government is committed to the diversification of the country’s economy away from dependence on oil and gas.

NEXIM Bank’s N37bn agro-commodities export project takes off

The Nigerian Export-Import Bank has earmarked the sum of N37 billion to develop and support export commodities from primary production to the exporting stage nationwide.

Chinese imports from Africa hit global high in 2018

Trade import and export volumes between China and countries from Africa reached 116 billion dollars in the first seven months of 2018 – up 18.7 per cent year-on-year.

Farmers to get nine million yam seedlings under CBN’s Anchor Borrowers Programme

No fewer than nine million yam seedlings are to be distributed to yam farmers across the country under the CBN’s Anchor Borrowers Programme, (ABP) the Technical Committee on Nigeria Yam Export says.

Anambra government to boost spices production for local, export markets

Gov. Willie Obiano of Anambra has announced plans by the state government to boost spices production of spices for local consumption and for export.
Abuja Light Rail

Official: Abuja light rail will boost FCT economy, transport system

Transportation Secretary of the Federal Capital Territory (FCT), Kayode Opeifa, has expressed optimism that most of the transport gridlock in Abuja would soon disappear with the commissioning next Thursday by President Muhammadu Buhari, of the Abuja light rail system.

Experts: Nigeria’s minerals export grow by 565% in two years

“Talking about economic potential, we also learnt that between 2016 and 2017 the export of minerals from Nigeria grew by a staggering 565 per cent. 90 per cent of these exports are mined through ASM activities,” he said.
Lekki Free Zone

Governor Ambode: Export inflow at LFZ to hit $6b by 2020

The Lagos State Governor, Akinwunmi Ambode, on Thursday said the export inflow at the Lekki Free Zone in Ibeju Lekki area of the State is projected to hit over $6 billion (about N2.159 trillion) by 2020, adding that it was time for Nigeria to develop sustainable roadmap to rev up export with particular focus on multi-sector products far beyond oil.

NCAA reaffirms figures released on 2017 passenger traffic, revenues

The Nigerian Civil Aviation Authority (NCAA) has reaffirmed the sanctity of the recently released statistical data on the aviation industry on passenger traffic and revenues earned by both domestic and international airlines.

NEPC: Cocoa produce key to economic diversification

The Nigeria Export Promotion Council (NEPC) has urged state governments to engage in resuscitation of cocoa produce for export, to reduce over dependence on petroleum.

National Assembly urged to consult experts before making laws

The Association of Professional Bodies of Nigeria (APBN) has asked the National Assembly to always engage and consult its members in order to render expert services on public sponsored bills or amendment that border on specialised area.

Vladimir Putin says yet to see US ‘Kremlin Report’

President Vladimir Putin of Russia said Tuesday that he has not seen the so-called “Kremlin list” released by the U.S. earlier in the day, but colleagues informed him about the document.

Export promotion council set to address inadequacies in cocoa export

The Nigerian Export Promotion Council (NEPC) is set to address inadequacies and raise awareness of farmers on processing high-quality cocoa for export.

Nigeria’s export value rises 13.19% to N3.57bn in Q3

The National Bureau of Statistics has said that Nigeria’s total exports in the third quarter of 2017 stood at N3.57bn, showing 13.19 per cent increase over the amount recorded in the second quarter.

Why Nigeria export is rejected abroad – Group

Stakeholders have identified multiplicity of regulatory agencies, cumbersome documentation process, poor import infrastructure, high and duplicated charges as reasons why Nigeria exports are rejected abroad.

Senate gives firms one week to file defense over alleged N30tn leakage

The Senate Joint Committee on Customs, Excise and Tariff, and Marine Transport, has asked the over 30 companies quizzed this week over alleged complicity in the N30tn revenue loss in the import and export value chain to present their defense next week.

Recent Stories

Sa’ad Idris named substantive INEC’s TEI chief

Dr. Sa’ad Umar Idris has been appointed as the substantive Director General of the Electoral Institute, TEI, by the Independent National Electoral Commission, INEC.
Asiwaju Ahmed Tinubu addressing newsmen shortly after cating his vote in a polling unit at Alausa, Ikeja earlier today. Photo by Ayo Efunla

Asiwaju Tinubu: Why I’m supporting Senator Lawan, Rep Gbajabiamila

Asiwaju Bola Tinubu, a national leader of the ruling All Progressives Congress (APC), said on Sunday that his interest in the leadership of the ninth National Assembly had nothing to do with any personal or presidential ambition in 2023 as being speculated in some quarters.

DisCos may cede networks to third-party power distributors

Worried by the inability of the 11 distribution companies to distribute power to many consumers, the Nigerian Electricity Regulatory Commission (NERC) has said it is considering a new regulation to allow third-party investors take up and maintain parts of the vast electricity distribution networks currently owned by the Discos.
rice importation

Idris Zuru: Over 20 million bags of rice smuggled into Nigeria daily

The high increase of smuggling of foreign rice into Nigeria’s on daily basis has been described as a serious threat to the Anchor Borrowers Programme of the Central Bank of Nigeria (CBN) and local production of rice.
Zainab Ahmed

Minister: We are mindful of our borrowings

The Minister of Finance, Mrs. Zainab Ahmed, has stated that while the federal government borrows to deliver on its promises, it was also mindful of rising debt burden, which eats up about 25 per cent of the country’s annual earnings.