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Oil Prices Soar Amid OPEC’s Demand Cuts and Optimism Over China’s Economic Moves
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Oil prices rose around 1% on Wednesday, buoyed by market optimism despite OPEC’s decision to slash demand growth forecasts for 2024 and 2025. Brent crude futures increased by 74 cents, or 1.03%, to $72.93 per barrel by 1310 GMT, while U.S. West Texas […] More
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Nigeria Records Monumental Export Growth in Q3 2024 Amid Rising Imports
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow There has been a quantum leap in Nigeria’s foreign trade in the third quarter, (Q3) of 2024, with the total trade volume standing at ₦35.16 trillion. This marks an 81.35% increase compared to Q3 2023 and a 13.26% rise over Q2 2024. Exports […] More
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Rising Inflation Robs Nigerian Families of Balanced Diet
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Maintaining a healthy diet amid run-away prices of food items has become a great struggle for many households, the October 2024 Cost of a Healthy Diet (CoHD) report has shown. The report, produced by the National Bureau of Statistics (NBS), shows that the […] More
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10 Ways the Tax Bills Will Make States Richer
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Human beings naturally resist change. When comfortable where we are, we find it extremely difficult to embrace an uncharted path or seek greater glory. Those who are risk averse often don’t want to venture out to embrace unfamiliar territories no matter how tempting […] More
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Relief, As Okpebholo Rolls Out Free Intra-State Bus Rides for Edo People
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow The people of Edo State woke up Wednesday morning to the cheering news of free bus rides within Benin City, the state capital, and to different parts of the three senatorial districts of the state, courtesy of the state government. This was announced […] More
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Tinubu Approves Key Maritime Conventions to Boost Nigeria’s Global Standing
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow President Bola Ahmed Tinubu has signed instruments of accession for six major International Maritime Organisation (IMO) conventions, positioning Nigeria for greater alignment with global maritime standards. This pivotal step enables Nigeria to officially deposit these instruments at the IMO headquarters, marking a milestone […] More
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Shell, Kula Community Agree on Resumption of Production on OML 25
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Shell Petroleum Development Company Limited and Kula and satellite communities in the Oil Mining Licence (OML) 25 areas in Rivers State have reached an agreement for the resumption of operations in the area. The agreement was reached after a meeting on Friday in […] More
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NNPC Introduces Utapate Crude Oil Blend to the Global Market
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow In a significant development for Nigeria’s energy sector, NNPC Ltd has officially launched the Utapate crude oil blend to the international market, bolstering the country’s crude oil production, revenue potential, and economic growth. The Utapate crude oil blend, developed in partnership with Sterling […] More
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Nigeria’s Business Optimism Declines as Inflation and Currency Woes Dominate October 2024 Outlook
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow The October 2024 Business Expectations Survey (BES), conducted by the Central Bank of Nigeria, reflects a decline in business optimism across the country as enterprises face mounting economic challenges. The report highlights concerns over rising inflation, exchange rate volatility, and reduced consumer spending, […] More
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CBN Alerts Nigerians About Rising Fraudulent Contract and Funding Claims
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Fraudulent Contract and Funding Claims The Central Bank of Nigeria (CBN) has raised the alarm over the activities of fraudsters falsely claiming to have official authorisation for contracts and special financial interventions linked to the bank. The CBN said these claims, which involve […] More
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African Development Bank Unveils $56m Climate Fund to Tackle Africa’s Climate Finance Gap
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow The African Development Bank (AfDB) has launched a groundbreaking $56 million Climate Action Window (CAW) Technical Assistance Facility to address Africa’s persistent climate finance challenges. Announced during COP29 in Baku, Azerbaijan, this initiative is set to revolutionise climate project development and implementation across […] More
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Inflation Spiral Bringing Pressure on Policy Makers
Follow ( 1 Followers ) X Follow E-mail : * Follow Unfollow In October 2024, Nigeria’s inflation rate surged to 33.88%, up from 32.70% in September. This marked a significant year-on-year jump of 6.55 percentage points from October 2023’s 27.33%, underscoring mounting economic pressures on consumers and businesses across the nation. The month-on-month inflation for […] More
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