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VP Osinbajo presides over NEC meeting

Vice President Yemi Osinbajo presided over the National Economic Council, NEC, meeting on Thursday January 17, 2019, in Abuja. The meeting was attended by governors, ministers, Secretary to the Government of the Federation, SGF, Boss Mustapha  and others.

Reps step down 2019 Budget debate

The House of Representatives, on Thursday, stepped down the consideration of the 2019 Budget. The development followed a motion by Chairman, House Committee on Rules and Business, Rep Edward Pwajok, at the second plenary for the year presided over by Speaker Yakubu Dogara in Abuja. The house had on resumption from its annual recess, Jan….

Lagos, IFC sign MoU to enhance infrastructure, revenue generation

…Deal To Focus On Transport, Power, Education, Environment, Other Key Sectors The Lagos State Government and the International Finance Corporation (IFC) have sealed a major partnership to enhance provision of infrastructure in key sectors and strengthen the State’s long-term financial sustainability through improved revenue generation strategies. The State’s Commissioner for Finance, Mr. Akinyemi Ashade, in…

Amnesty Programme, NBTI to partner on agric

Presidential Amnesty office partnering with National Board for Technology Incubation(NBTI) towards improving the quality and certification of Agricultural and other product or Amnesty Programme Beneficiary. Special adviser to the president on Niger Delta and coordinator Amnesty Programme, Prof Charles Dokubo, assured of his readiness to partner on technology incubation especially in the area of food…

Oil rises as OPEC cuts take effect

Despite troubling economic data from China which weighed on oil on Monday, improving fundamentals are beginning to push crude prices upward. Saudi oil minister Khalid al-Falih told CNBC on Sunday that Russia’s oil production cuts are “slower than I’d like,” although he added that the OPEC+ coalition would succeed in balancing the oil market this…

Stakeholders converge on Abuja for Financial Literacy Confab

National Financial inclusion stakeholders in Nigeria, led by the Central Bank of Nigeria (CBN), will converge on Abuja on Thursday, January 17 and Friday, January 18, 2019, for the launch of key policy documents aimed at facilitating the attainment of the financial inclusion target of 80 per cent by 2020. Policy documents to be unveiled…

Oil enters bull market with heavy gains

Oil entered a bull market this week, having gained 20 percent since the low point reached in December. WTI rose above $52 per barrel, while Brent moved above $61. “The mood brightens, and the market realizes that the world economy and oil demand are not grinding to a halt,” Norbert Ruecker, head of macro and…

CBN injects $263m, CNY 39m into Retail SMIS

The Central Bank of Nigeria (CBN) on Friday, January 11, 2019, injected the sum of $263m into the Retail Secondary Market Intervention Sales (SMIS), being its first intervention in that sector this year. This was in addition to the sum CNY 39 million consummated through a combination of spot and short-tenored forwards, arising from bids…

Oil prices post gains, extend 17 months rally

Oil prices continue to post gains, extending a rally that is the longest in 17 months. The latest optimism centers on the ratcheting down of tensions between the U.S. and China, as well as a softer tone from the U.S. Federal Reserve. In the oil market, the OPEC+ cuts are phasing in, while Saudi Arabia…

FG to transmit new national Minimum Wage Bill to NASS on Jan 23

The Federal Government has announced that it will transmit the New National Minimum Wage Bill to the National Assembly, by January 23rd, 2019. This was after a Memorandum of Understanding (MoU) was signed between the Federal Government and Labour. Minister for Labour and Employment, Dr. Chris Ngige, disclosed this at the end of a meeting…

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