Frustration toward US weaponization of greenback behind local currency settlement deals Efforts by countries to replace the US dollar in international trade will reach a new high when BRICS nations discuss the feasibility of introducing a common currency at a summit in South Africa later this year, Chinese experts said …
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The Federal government has approved for implementation the first ever Nigeria investment policy (NInP), while adopting a new National Automotive Industry Development Plan (NADIP) that would span through 2023-2033. Government acknowledged that Nigeria Investment Policy would give investors more comfort and attract more investment into the economy. Both the national …
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President Muhammadu Buhari has sent a letter to the Senate seeking approval to take a loan to the tune of $800 million from the World Bank to cushion the effects of subsidy removal. This follows the Federal Government’s April announcement of an $800 million World Bank grant targeting 50 million …
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The Chief Executive Officer of 9mobile Nigeria, Juergen Peschel, said the telecommunications company has invested more than N70 billion in its ongoing network modernisation. Peschel stated this during the company’s annual Channel Partners Conference in Lagos recently. He informed the partners of addition of 600 new sites, equipped with 4G …
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A new report has revealed that African immigrants in the United Kingdom are struggling to pay bills as they are most affected by the persistent rising cost of living crisis. Vanguard cited the report published on Wednesday by an African communications service community disclosed that many African residents in the …
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The Director-General of the National Agency for Food, Drugs Administration and Control, Prof Mojisola Adeyeye, has given the reasons behind banning the ‘Indomie Super Chicken’ flavour in Nigeria. Citing fewer clinical tests, registration and production of the flavour in the country, Adeyeye said the agency has commenced sampling and analysis …
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The National Agency for Food and Drugs Administration and Control (NAFDAC) has reiterated that importation of Indomie noodles is banned in Nigeria. Director-general of NAFDAC, Prof. Mojisola Adeyeye, who made this known in a statement on Monday, said the product is one of the foods on the government prohibition list. …
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The Federal Ministry of Industry,Trade and Investment, as the lead agency on WTO matters has been urged to continue to drive the process of trade in Nigeria by ensuring that the public is sensitized to the benefits of the World Trade Organisation (WTO) Agreements. This formed part of the highlights …
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President Muhammadu Buhari administration has backtracked on the plan to remove petroleum subsidy. The National Economic Council, on Thursday, in Abuja, said it has agreed that petrol subsidy should “not be removed” as earlier planned for June 2023. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed …
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The World Bank has advised the Nigerian Government to unify the nation’s multiple exchange rate windows and carry out a number of other reforms to strengthen the economy and restore macroeconomic stability.In its latest Macro Poverty Outlook for Nigeria: April 2023, the bank said implementing economic reforms in the non-oil …
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