FCT Admin, Automobile Dealers Clash Over Plan To Demolish Apo Mechanic Village

The Federal Capital Territory Administration is at  loggerheads with the automobile dealers at the popular Apo mechanic village in Abuja over the plan to demolish illegal structures in the village. The FCT Minister, Mallam Muhammad Musa Bello, had given traders and shop owners seven-day notice to remove their shops and abandoned vehicles in the affected […]

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Nigeria’s GDP Grows By 2.28 Per Cent In Third Quater Of 2019

Nigeria’s gross domestic product has experienced its second highest quarterly growth in four years after growing by 2.28 per cent in the third quarter of 2019, data by Nigeria Bureau of Statistics reveals. According to the NBS, the growth rate in Q3 of 2019 represents the second-highest quarterly rate recorded since 2016. The data released […]

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900 Trucks With Paid Duties Of N3.6bn Stuck At Seme Border

An association of fish and coconut farmers has said that 900 of their trucks have been grounded at the Seme Border after paying excise duties of N4m each – N3.6bn in total.  Chairman of the Association of Nigeria Licensed Customs Agents and Coconut/Fish Farmers Union, Samuel Igbowu, said the goods had been secured before the […]

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Senate Drops Plan To Break System Specs Monopoly

The Nigerian Senate has dropped its interest in breaking up the monopoly of System Specs, the firm which handles the Remita platform responsible for processing payments into the Treasury Single Account.  A member of the Senate Committee on Banking, Insurance and other Financial Institutions, anonymously informed PUNCH that its investigations did not show any serious […]

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LCCI Forecasts Subdued Economic Growth In 2020

The Lagos Chambers of Commerce and Industry expects the Nigerian economy to have a suppressed economic performance the coming year.  Director-General of the industry trade group, Muda Yusuf, said the country’s economy will grow by two per cent in 2020. News Agency of Nigeria reports that the LCCI give this verdict in its 2019 Economic […]

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Inflation Rises In Nigeria To 12.13 Per Cent, Highest In 22 Months

  Nigeria’s inflation rate has risen from 11.98 per cent in December to 12.13 per cent in January. The new data is contained in the Consumer Price Index released by The National Bureau of Statistics on Tuesday. The 12.13 per cent inflation rate represents an increase of 0.15 percentage point over the index recorded in […]

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EXCLUSIVE: Chinese Restaurants Record Low Patronage In Lagos Over Coronavirus Fears

Chinese restaurants in Lagos have been recording low patronage since the outbreak of Coronavirus.  Managers and owners of such cuisine business in Lagos said patronage had dropped further after the confirmed case of the virus in the state on Friday morning by the Ministry of Health.  The patient, an Italian, was said to have entered […]

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Visa Foundation Donates $210m As Support For Small And Micro Enterprises

  Visa Foundation has announced a donation of $210m to support small and micro businesses, aligning with the foundation’s long-term focus on women’s economic advancement and inclusive economic development. The first program of $10m is designated for immediate emergency relief to support charitable organisations on the frontlines responding to the COVID-19 pandemic such as public […]

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World’s Richest Man Gets Richer By Selling Items Online During Coronavirus Lockdown

Jeff Bezos has seen his fortune grow by $6.4bn and Amazon is now worth $1.1trn after its shares hit a record high on Tuesday amid surging online orders during Coronavirus lockdown, Daily Mail UK, said.  While Amazon’s founder saw his wealth rocket, his employees at many warehouses have warned their lives are at risk by continuing to […]

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Don’t Extend Lockdown, Small-scale Entrepreneurs Beg President Buhari, Governors As Hardship Bites Deep In Lagos, Other Nigerian Cities

Thousands of informal workers and small-scale entrepreneurs in Nigeria, who have been rendered jobless as the lockdown continues in different parts of the country, are counting their losses as government struggles to contain the  spread of Coronavirus. Worried by the decline in their income and the attendant hardship, they are begging government to relax the […]

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