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Oil prices down on fears of weak demand

Oil prices fell this week on rising fears of weakening demand and a renewed supply surplus. Iran proposes new nuclear deal. Iran has offered a deal with the U.S. that would include permanent enhanced nuclear inspections in return for the U.S. lifting sanctions. Iran’s foreign minister Javad Zarif said it was “a substantial move.” The…

LASG assures on international transport system

…Promises To Complete Blue Line Rail Lagos State Governor, Mr. Babajide Sanwo-Olu has restated its commitment to deliver reliable, efficient, safe and effective intermodal transport system that will enhance mass movement of Lagosians through the expansion of BRT routes and completion of rail and water transportation infrastructure in the state. Governor Sanwo-Olu stated this on…

ECA, OCP sign agreement on innovation, agric investments

 The Economic Commission for African (ECA) and the OCP S.A. (formerly known as the Cherifien Office of Phosphates) signed an MoU aimed at strengthening collaboration on innovations and investments in agriculture using science and technologies. The agreement includes support to the African Continental Free Trade Agreement – AfCFTA and women’s economic empowerment in Africa.  The…

South-South cooperation, statistics at the heart of African priorities

The Chair of the Bureau of the 5th Session of the African Regional Forum for Sustainable Development (ARFSD) and Secretary of State for Sustainable Development of the Kingdom of Morocco Nezha El Ouafi, addressed the High-Level Political Forum for Sustainable Development (HLPF) and presented the main conclusions of the Marrakech Declaration this week in New…

Infrastructure upgrade: AfDB team meets Fayemi in Ekiti

…As development bank considers state’s request for support The African Development Bank (AfDB)’s team of technical experts on Thursday met with Ekiti State Governor, Dr Kayode Fayemi and his team in Ado-Ekiti in furtherance of ongoing talks between the Bank and the state government on support for the upgrade of its infrastructure. The meeting which…

Effective tax drive key to states’ financial independence -Sanwo-Olu

…Fowler: ‘Lagos Set The Pace For Tax Administration’ …JTB Flags Off New Tax ID In Southwest An aggressive tax drive through tech-driven process will wean federating States from overdependence on federal allocations, Lagos State Governor, Mr. Babajide Sanwo-Olu, has said. Lagos, Sanwo-Olu said, understood the challenges associated with overdependence on federal handouts early enough, prompting…

Nigeria’s total debt now N24.95trn

Nigeria’s total debt stock, including States and Federal debts,  stood at N24.95trillion as at March 31, 2019. The National Bureau of Statistics, NBS, which disclosed this, stated that further disaggregation of Nigeria’s total public debt showed that N7.86trn or 31.51% of the debt was external while N17.08trn or 68.49% of the debt was domestic. Similarly,…

Christine Largarde resigns as IMF MD

Christine Lagarde has said she will step down as managing director of the International Monetary Fund (IMF). It comes ahead of a decision on her nomination to become head of the European Central Bank (ECB). Ms Lagarde said she would leave the IMF on 12 September, BBC reports. “With greater clarity now on the process…

CBN intervenes in Forex market with $210m

The interbank segment of the Foreign Exchange Market has received a fresh boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, July 16, 2019. Figures obtained from the CBN indicated that authorized dealers in the wholesale segment of the market were again offered the sum of $100million, while…

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