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The International Monetary Fund (IMF) has warned that the country’s exchange rate may depreciate further by about 35 percent this year and contribute to a sharp rise in inflation, peaking at 44 per cent before the monetary policy could eventually arrest the situation through tightening.The fund disclosed this in its …

Chairman of BUA Group, Abdul Samad Rabiu, says the company has approved a 50 per cent salary increment for staff across board.Rabiu made the disclosure in an internal memo signed on Sunday in Lagos by Mr Mohammed Wali, BUA’s Head of Human Resources. The memo quoted BUA chairman as saying …

The refinery, Africa’s largest with a nameplate capacity of 650,000 barrels per day, was built on a peninsula on the outskirts of the commercial capital Lagos by the continent’s richest man Aliko Dangote. Nigeria has for years relied on expensive imports for nearly all the fuel it consumes but the …

Shell Nigeria Gas (SNG) Limited has indicated interest in collaborating with the Oil and Gas Free Zones Authority (OGFZA) for the supply of gas.  The collaboration comes as SNG begins to diversify into offshore activities and gas distribution. The move for a collaboration was announced at a business meeting between …

The Oil and Gas Free Zones Authority is making visible efforts to attract investors in the special economic zones it oversees to boost investment in the country.It held a joint business meeting with a delegation of prominent investors in the oil and gas free zones this Thursday in Abuja.OGFZA managing …

The Registrar-General Of Corporate Affairs Commission,Hussaini Ishaq Magaji, SAN, has revealed that the implementation of the provisions of Companies and Allied Matters Act(2020)has started to yield fruits for the nation’s economy.Hussaini Magaji, SAN, said this when he led the management of Moniepoint Microfinance on a visit to the Hon. Minister, …

A professor of Huazhong Agricultural University in the central China city of Wuhan has been fired over academic misconduct, with 10 of his published papers found to contain plagiarism and fabricated data, the university announced on Tuesday 6 February, writes Yang Yiting for Shine. A statement issued by the university revealed …

The Nigerian National Petroleum Company (NNPC) Limited have collaborated with the Central Bank of Nigeria (CBN) to set limits for the management of the oil firm’s revenue. The limit was set following a meeting between the CBN Governor, Olayemi Cardoso and the NNPCL Group Chief Executive Officer, Mele Kyari, in …

Stakeholders have welcomed moves to resolve lingering issues around operations in free zones. From Left: Dr Olufemi Ogunyemi, Managing Director/Chief Executive Officer,NEPZA and Alhaji Bamanga Usman Jada, Managing Director/Chief Executive Officer,OGFZA at the meeting The issues include challenges with the Nigeria Customs Services operations in the zones as well as …

The Executive Secretary of the National Lottery Trust Fund, Dr Bello Maigari, has expressed the agency’s commitment to poverty reduction in the country. He stated this during a courtesy visit by the leadership of the Renewed Hope Ambassadors’ Forum for President Tinubu/Shettima, recently in Abuja. “We have been having retreats …