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Lagos to fund tech-driven models for dev’t -Sanwo-Olu

Lagos State Governor, Mr Babajide Sanwo-Olu on Wednesday pledged his administration’s support and funding for entrepreneurs with new technologies that posses business models capable of assisting urban development in the State. Governor Sanwo-Olu also said the State will provide fluid financing to promote and encourage the upscale for digital economy.  The Governor made this known…

CBN faults Business Day report on bank’s finances

The Central Bank of Nigeria (CBN) has reacted to the lead story in the BusinessDay newspaper of Monday, June 17, 2019, headlined: “CBN’s life support to FG rises 780% to N8.12trn in 4yrs”. A statement by its Director Corporate Commnications, said, “We wish to state categorically that the story is not only false, but an…

NSE identifies Lafarge, Conoil, 32 others as companies that fell short of minimum listing standard

The Nigerian Stock Exchange, in its latest X-Compliance Report of June 14, 2019, has identified thirty-four (34) companies that fell short of the minimum listing standards in terms of timely disclosure of their audited annual financial statements. These companies have either Missed Regulatory Fillings (MRF) or are Awaiting Regulatory Approval (AWR) from their primary regulators…

CBN again injects $210m into Forex Market

The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market. Figures obtained from the CBN on Tuesday, June 18, 2019, indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and Medium Enterprises (SMEs) segment…

Oil prices jump on hopes of US-China trade deal

Oil prices started down on Tuesday but jumped quickly on hopes of a U.S.-China trade deal. President Trump said that he will have an “extended meeting” with Xi Jingping next week in Japan on the sidelines of the G-20. The Dow Jones Industrial Average surged by more than 300 points on the news. Argentina suffers…

Ogun to begin PEWASH counterpart project in 24 communities

Ogun State Government is set to commence the drilling of 24 solar pump boreholes in Odeda and Yewa North Local Government Area of the State by releasing its contribution for the first phase of the counterpart Project for Expanded Water Supply, Sanitation & Hygiene (PEWASH) The Permanent Secretary, Ministry of Rural Development, Rev. Gbele Olugbebi…

Average fuel price decreases marginally in May

Average price paid by consumers for premium motor spirit (petrol) decreased by -3.4% year-on-year and -0.6% month-on-month to N145.0 in May 2019 from N145.9 in April 2019. States with the highest average price of premium motor spirit (petrol) were Ebonyi (N146.25), Kwara (N146.14) and Niger (N146.11). States with the lowest average price of premium motor…

Inflation increases 11.40% in May 2019

The consumer price index, (CPI) which measures inflation increased by 11.40 percent (year-on-year) in May 2019. This is 0.03 percent points higher than the rate recorded in April 2019 (11.37 percent). Increases were recorded in all COICOP divisions that yielded the Headline index. On month-on-month basis, the Headline index increased by 1.11 percent in May…

AfDB showcases Korean drone tech for agriculture

Drone technology is being used to collect and analyse data, and monitor irrigated areas, combat pests At a special event highlighting the partnership between the African Development Bank and Korea held on the sidelines of the Bank’s Annual Meetings, the role of drone technology to boost food productivity in Africa, was on full display. A…

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