Category Archives: Nigeria Business

‘Nigeria not becoming a failed state’ — APC rejects the claim by the Financial Times

The All Progressives Congress (APC) has rejected the position of Financial Times that Nigeria is becoming a failed country under President Muhammadu Buhari. In a statement on Sunday, the party said contrary to the claim, the Buhari administration is “visibly and frontally” addressing Nigeria’s current challenges. In an editorial on Tuesday, Financial Times had said “Nigeria will become a problem

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Tanker Explosion: Six dead, several injured in Kwara

At least six persons were confirmed dead on Wednesday after a petrol tanker exploded in Jebba, Kwara state. The incident also left several persons injured, while over 30 buildings were razed. According to a statement issued by Rafiu Ajakaye, chief press secretary to the Kwara governor, the driver of the tanker lost control and rammed into residential buildings in the

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NIN registration: We are extending the deadline for blocking SIM cards – FG

The federal government has extended the deadline for the registration of National Identification Number (NIN) by telecommunication service subscribers. The ministry of communications and digital economy broke the news in a statement on Monday. The Nigerian Communications Commission (NCC) had given telecommunications companies a two-week ultimatum to block SIM cards not registered with NIN. But in the statement, the federal

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BREAKING NEWS: Nigerian economy enters recession

The Nigerian economy has slipped into its second recession in five years as the gross domestic product contracted for the second consecutive quarter in 2020. The National Bureau of Statistics (NBS) on Saturday disclosed that Nigeria’s GDP growth was negative by 3.62 per cent in the third quarter of 2020. Recall that the country recorded a 6.10 per cent contraction

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Breaking: Okonjo-Iweala, is new WTO DG

Ngozi Okonjo-Iweala, Nigeria’s ex-finance minister and nominee for the office of the director-general of the World Trade Organisation, WTO,  has emerged winner of the highly competitive race. The former minister according to TheCable, polled 104 votes from 164 member countries to defeat her South Korea’s trade minister opponent, at the final stage of the race. She has broken many records,

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WTO: Okonjo-Iweala gets the support of 79 countries

Nigeria’s Ngozi Okonjo-Iweala has expressed confidence in her quest to lead the crisis-wracked World Trade Organisation after all of Africa backed her candidacy, vowing she would champion reform. She expressed her confidence in the race after she received news that the 55-member African Union would officially support her candidacy over her sole remaining opponent, Yoo Myung-hee of South Korea for

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There were 149.8 million Internet users in Nigeria in August – NCC

The Executive Vice Chairperson (EVC) of the Nigerian Communications Commission (NCC), Umar Danbatta, has announced that Nigeria had 149.8 million internet users in the month of August 2020. These recent statistics were made public by the commission’s spokesperson, Ikechukwu Adinde, on Monday. The spokesperson also added that the coming months will witness more users as economic activities pick up and

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Customs Officer’s Stray bullet kills artisan in Ogun

One Idowu Moses has died after being hit stray bullets fired by men of the Nigerian Customs Service in Oja-Odan in the Yewa South Local Government Area of Ogun State. It was learnt that he sustained several gun shot injuries from shots fired by men of the Nigerian customs while they were chasing a smugglers around the Oja-Odan in the

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Electricity tariff increase takes effect Sept 1 – NERC, Disco

In a surprise move, the Nigerian Electricity Regulatory Commission has approved an increase in electricity tariff with effect from September 1, 2020 (today). This comes three months after the tariff hike implementation slated for July 1 was halted by the National Assembly, which prevailed on the distribution companies to shelve the date to the first quarter of 2021 due to

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