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New plan to boost local production of tiles, marbles, granite emerge

Okey Buhari

The Minister of State for Mines and Steel Development, Hon. Abubakar Bawa Bwari, has revealed government’s plans to grow the local production of marbles, granite and tiles used in housing finish. Making the revelation during a tour of OFL Fujian Stones Marble and Dimension Stones factory in Mararaba, Nasarawa State, he assured that any organization that had demonstrated the kind ...

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All is set for Benue State to ship first Yam Export in June

NPEC 2

Barring the decimation of the agro community in parts of Zakibiam, Wukari and other key Yam producing communities by the dreaded Fulani herdsmen, Benue State will begin the processing, marketing and packaging of yam for export in June this year. This was revealed Thursday, by the Head of Nigerian Export Promotion Council’s (NEPC) Export Assistance Office in Benue, Mr. Emmanuel ...

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Naira over-valued by 10 to 20 percent, IMF mocks CBN, presidential economic team

imf hqs

In what can be easily interpreted as reactions to the rebuffing of its advice by the Central Bank of Nigeria (CBN), the International Monetary Fund (IMF) on Wednesday fired back, claiming that Nigeria’s naira is over-valued by around 10 to 20 percent. A newly released critical report on government efforts to boost growth in Nigeria, IMF said “We do find ...

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Illegal miners galloping in numbers in Plateau, NSCDC arrests 150

Fayemi, Solid mineral minister

There are no signs that any of the reforms so far introduced by the Minister of Solid Minerals, Dr. Kayode Fayemi is yielding results as number of illegal miners has kept rising across all states that have minable resources. This is made more manifest as the Nigerian Security and Civil Defence Corps (NSCDC), Plateau State command, has arrested and charged ...

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Name search at CAC still takes more days after unveiling of 24-hour registration process

cac logo

Contrary to claims by the Registrar-General of Corporate Affairs Commission (CAC), Mr Mahmud Bello, that the commission has started operating 24 hours company registration process to make startup of business easier in Nigeria, findings at the Abuja head office by Business Hilights still suggest that there is nothing new after all. A lawyer, who had been accredited by CAC over ...

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Again, FG, Rice farmers assure bag of rice’ll sell at N10, 000 come June 2017

Audu Ogbeh

Barely less than one month after the Minister of Agriculture and Rural Development, Chief Audu Ogbeh has disclosed while in a Town Hall meeting in Umuahia, the Abia State capital that Nigeria will before the end of the year become highest exporter of rice, rice farmers under the auspices of Rice Farmers Association of Nigeria (RIFAN), has toed same line, ...

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Joint venture of FMBN, REDAN, Shelter Afrique targets supply of 10,000 houses yearly

Babatunde Fashola

The Federal Mortgage bank of Nigeria (FMBN) has sealed a deal with the Real Estate Developers Association of Nigeria (REDAN) and pan-African finance institution Shelter Afrique to establish a $2bn affordable housing facility. The fund which will come in tranches of $200m per year to accredited developers will be used to drive the provision of about 10,000 homes every year ...

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LCCI picks holes in IMF’s recommendations relating to forex, economy

Muda Yusuf, LCCI boss

Less than one week after the International Monetary Fund (IMF) have advised the federal government and the Central Bank of Nigeria (CBN) in particular to lift ban on 41 forex restricted items to renew activities in the ports further close parallel forex rates, the Lagos Chamber of Commerce and Industry (LCCI) has reacted, saying both ideas are far away from ...

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Debt pile up looms as foreign investors snub Nigeria’s Naira bonds

Eurobond listing

Bloomberg report has raised serious issue on the reigning Nigeria’s naira bond currently in the market for subscribers. The report is unfortunately coming as news of oversubscription of Nigeria’s Eurobond to the tune of $3 billion raises the spirit of Nigerians. Bloomberg said foreign investors are avoiding Nigeria’s Naira denominated fixed income investment instrument, and opting for the Dollar denominated ...

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Nigerdock deepening Nigeria-UK relations as High Commissioner tours site

Nigerdock 22

The new British Deputy High Commissioner for Lagos, Laure Beaufils, visited Snake Island Integrated Free Zone (SIIFZ) to see first-hand the significant potential to further strengthen the bilateral relationship between the United Kingdom and Nigeria, by enabling UK businesses to partner with Jagal Energy and Nigerdock and to promote exports to, and investment in, Nigeria. Laure Beaufils made this known ...

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