Daily Archives: September 11, 2020

FG inaugurates N75bn SMEs COVID-19 stimulus schemes

FG inaugurates N75bn SMEs COVID-19 stimulus schemes

The Federal Government on Thursday flagged off two schemes to financially support about 1.7 million micro, small and medium enterprises across the country with N75bn. At a briefing on the flag-off of the National MSME Survival Fund and the Guaranteed ...

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Naira plunges, exchanges for N440/$

Naira plunges, exchanges for N440/$

The naira exchanged to the dollars for N440 in the parallel market on Thursday, despite the resumption of forex sales to the Bureau de Change Operators on Monday. The naira had last week dropped from N480/$ to N420/$, following the ...

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Discos to pay for rejecting electricity – NERC

Tariff increase: Discos get 85% collection order

The Nigerian Electricity Regulatory Commission has said the power distribution companies will be liable to capacity charge for failure to take their entire load allocation caused by constraints in their networks. NERC disclosed this in a document seen by our ...

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FG risks $2.5billion litigation fee on Customs modernisation project

FG risks $2.5billion litigation fee on Customs modernisation project

While the approved $3.1 billion Customs modernization project by the Federal Executive Council (FEC) is expected to yield up to $176 billion at no cost to government, there is a new twist as Federal Government risks paying $2.5 billion as ...

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Budget: National Assembly pledges allocation to youth development

Budget: National Assembly pledges allocation to youth development

President of the Senate, Ahmad Lawan, said on Thursday that the National Assembly would allocate huge resources for youth development in the 2021 national budget. He said the arrangement would enable government to address the challenges facing Nigerian youths as ...

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Nigeria’s cocoa production falls as Ghana, Côte d’Ivoire enjoy boom

Nigeria’s cocoa production falls as Ghana, Côte d’Ivoire enjoy boom

• Production falls from 300,000 to 245,000 metric tonnes • Low budgets, poor grading, others identified as factors • Researcher blames scrapping of cocoa boards Production of cocoa as cash crop has dropped due to inadequate financing, among other factors. ...

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NCAA moves to address difficulties on travel portal

NCAA moves to address difficulties on travel portal

Owing to the issues arising from uploading information on the Nigeria International Travel Portal, the Nigerian Civil Aviation Authority has advised foreign airline operators to allow intending passengers traveling to Nigeria board flights without any QR code. This was contained ...

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