Daily Archives: November 17, 2020

Despite COVID-19, NIMASA’s Budget Performance Is Laudable – NASS 

The House of Representatives Committee on Maritime Safety, Education and Administration has given thumbs up to the budget implementation status of the Nigerian Maritime Administration and Safety Agency (NIMASA), saying the Agency has done creditably well, despite the coronavirus pandemic. ...

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ARSON: Terminal Operators Visit NPA, Pledge Support To Management

Terminal operators visit NPA, assure management of support

Following the attack on burning of some parts of the Nigerian Ports Authority (NPA) headquarters by suspected hoodlums, Seaport Terminal Operators Association of Nigeria (STOAN) has visited NPA and promised to support the agency in replacing some of the items ...

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Experts blame borrowing, fuel price hike as inflation climbs to 14.23%

Experts blame borrowing, fuel price hike as inflation climbs to 14.23%

The hike in food prices and other individual consumption across the country further increased the rate of inflation in Nigeria to 14.23 per cent in October. Figures released by the National Bureau of Statistics on Monday showed that the country’s ...

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Naira plunges to 475 as dollar demand rises

Naira plunges to 475 as dollar demand rises

The naira weakened further on Monday, trading at 475 to the United States dollar in the parallel market amid a rise in demand for the greenback. The local currency, which has come under pressure in recent days, fell to 470 ...

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Sylva, NNPC boss shun budget defence meeting with Reps

Sylva, NNPC boss shun budget defence meeting with Reps

The Minister of State for Petroleum Resources, Timipre Sylva; and the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, on Monday, failed to appear before the House of Representatives. Sylva and Kyari, among others, were to appear ...

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Govt plans bridge bank to support struggling lenders

Govt plans bridge bank to support struggling lenders

Nigeria plans to start a fund that will operate a bridge bank to nurse struggling lenders back to health, Bloomberg reported on Monday. The Central Bank of Nigeria will inject N10bn, or an amount that still needs to be determined by its ...

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FG may reduce minimum tax rate next year

FG may reduce minimum tax rate next year

The draft Finance Bill 2020 contains a proposal for the reduction of the minimum tax rate to be paid by companies next year in light of the current economic climate, according to the Fiscal Policy Reforms Committee. The Fiscal Policy ...

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Petrol price’ll increase when oil goes up – Sylva

Petrol price’ll increase when oil goes up – Sylva

The Minister of State for Petroleum, Timipre Sylva, on Monday said Nigerians would soon get used to hike in price of fuel. Sylva also said petrol price would always increase whenever oil rate had gone up. He spoke in an ...

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Freight forwarders seek reopening of borders

Freight forwarders seek reopening of borders

Freight forwarders under the aegis of the Association of Nigerian Licensed Customs Agents have tasked the Federal Government to re-open the border in order to benefit from the African Continental Free Trade Area Nigeria had closed all its land borders, ...

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