NNPC says plans to take 20% equity in Dangote Refinery, 5 others is in interest of Nigeria

NNPC says plans to take 20% equity in Dangote Refinery, 5 others is in interest of Nigeria: He said that NNPC’s strategic objective to ensure energy security and stimulate economic growth with limited resources requires it to consider strategic partnerships with competent investors in sectors of the oil and gas value chain, especially where it currently operates on a sole risk basis.

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Journey to NIPR Fellowship: A Worthy Experience

Journey to NIPR Fellowship: A Worthy Experience: As expected on the journey, there were other activities, roles, and responsibilities. I equally have the responsibility to coordinate participation of delegates from the NIPR Lagos Chapter at the National Annual General Meeting (AGM) & Election scheduled for Bauchi as the Chairman of the Planning Committee hence going to Bauchi was non-negotiable.

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Aero Contractors to expand aircraft maintenance facility, opens new routes

Aero Contractors to expand aircraft maintenance facility, opens new routes: The resolve by the carrier to expand its aircraft repair centre is to meet the huge demand by indigenous and foreign carriers to fix their aircraft hitherto ferried overseas for major maintenance repairs known in aviation parlance as C- check.

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EFCC chairman, Bawa in New York to attend UN anti-corruption special session

EFCC chairman, Bawa in New York to attend UN anti-corruption special session: he UNGASS will among other things, examine measures to prevent and combat corruption and strengthen international cooperation, pursuant to the General Assembly resolutions 73/191 and 74/276 as well as decision 74/568.

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Nigeria Customs seeks to vet Private jets documentations, give July 6 deadline

Nigeria Customs seeks to vet Private jets documentations, give July 6 deadline: “The verification will begin on Monday June 7 to Tuesday, July 6, 2021, and it will be from 10.00 a.m. and ends 5.00 p.m. daily” he explained.

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Oil Exceeds $67 a barrel ahead of OPEC+ Tuesday’s meeting

Oil Exceeds $67 a barrel ahead of OPEC+ Tuesday’s meeting: Oil demand should rise by about 6 million barrels a day next year, according to a document prepared for an OPEC+ committee meeting today ahead of the full ministerial gathering tomorrow.

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Nigeria’s forex reserves decline 3.9% to $34.2 bln YTD by May 27 ~CBN

Nigeria’s forex reserves decline 3.9% to $34.2 bln YTD by May 27 ~CBN: The forex reserves also dropped 2.05 percent month-on-month, having stood at $34.97 billion by April 27, 2021, according to the latest data from the regulatory bank.

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Proceeds from new Sukuk bond to finance revenue generating projects, says debt office

Proceeds from new Sukuk bond to finance revenue generating projects, says debt office: Nigeria said it plans to focus its new borrowing through the Islamic Sukuk Bonds on revenue generating projects to ensure that proceeds from such projects are

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US tyre maker Goodyear faces allegations of labour abuse in Malaysia

US tyre maker Goodyear faces allegations of labour abuse in Malaysia: One former worker said the company illegally kept his passport, showing Reuters an acknowledgment letter he signed in January 2020 upon getting it back eight years after he started working at Goodyear.

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AMCON prosecuting 3,000 recalcitrant debtors in court in a bid to recover N5 trln debt

AMCON prosecuting 3,000 recalcitrant debtors in court in a bid to recover N5 trln debt: “The AMPs scheme of the government agency currently has about 6,000 Eligible Bank Assets at different stages of resolution and about 3,000 matters at various courts in the country,” the corporation said.

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ECOWAS suspends Mali over coup, seeks restoration of democracy

ECOWAS suspends Mali over coup, seeks restoration of democracy: At the end of their summit, the heads of state of the ECOWAS member nations demanded that Malian authorities immediately release former transitional President Bah N’Daw and Prime Minister Moctar Ouane, who are being kept under house arrest.

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Bandits again strike in Niger State, abduct about 150 students from Islamic school

Bandits again strike in Niger State, abduct about 150 students from Islamic school: An armed gang abducted students from an Islamic school in Niger State on Sunday, police and state government officials said.

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Dangote Cement moves to crash prices, to push more products into market

Dangote Cement moves to crash prices, to push more products into market: Umar assured that appropriate measures were taken and in about 90 days, from now more products will be pushed into the market to make the prices bearable for consumers.

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Foreign portfolio investments in equity market decline 50.7% in Apr ~NGX

Foreign portfolio investments in equity market decline 50.7% in Apr ~NGX: The FPI commitment had fallen to N40.64 billion in March 2021 from N62.07 billion in February indicating a 35.5 percent decline between February and March, though it rose by 30.62 percent between February and January this year.

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Nigeria debt at $33.8 bln sustainable, could raise enough revenue to service debt ~DMO

Nigeria debt at $33.8 bln sustainable, could raise enough revenue to service debt ~DMO: The Debt Management Office (DMO) has said that the country's debt is still sustainable as it is still within the threshold set by the International Monetary Fund ((IMF) and the World Bank.

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U.S. inflation rise on Pent-up demand, supply constraints

U.S. inflation rise on Pent-up demand, supply constraints: The U.S. central bank slashed its benchmark overnight interest rate to near zero last year and is pumping money into the economy through monthly bond purchases. It has signaled it could tolerate higher inflation for some time to offset years in which inflation was lodged below its target, a flexible average.

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Nigeria’s currency weakens 1.64% WTD at parallel market, 0.18% on I&E as naira woes persists

Nigeria’s currency weakens 1.64% WTD at parallel market, 0.18% on I&E as naira woes persists: The local currency woes began after Tuesday Monetary Policy Committee (MPC) meeting when the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele confirmed that the regulator had adopted the NAFEX forex exchange rate as the benchmark rate for the market.

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Kenya’s biggest bank eyes investment in Ethiopia after telecom bid round

Kenya’s biggest bank eyes investment in Ethiopia after telecom bid round: “We believe that allowing international mobile companies to invest in Ethiopia in the next year is a great opener for financial institutions as well,” Oigara said in the capital, Nairobi. “We’re just prepared, so we look forward to that opportunity.”

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Lagos Catholic Archbishop wants FG to declare state of emergency on insecurity

Lagos Catholic Archbishop wants FG to declare state of emergency on insecurity: He said efforts to rid the country of kidnappers and bandits should include constant dialogue between representatives of the security agencies and major stakeholders such as religious leaders, traditional rulers, leaders of ethnic groups, civil society, and political parties.

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Dangote warns on implications of distorting national Sugar Master plan

Dangote warns on implications of distorting national Sugar Master plan: “If the National Sugar Master Plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as forex.”

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Stanbic IBTC to set aside $100 mln for onward lending to boost renewable energy in Nigeria

Stanbic IBTC to set aside $100 mln for onward lending to boost renewable energy in Nigeria: Stanbic IBTC is in talks with development financial institutions including International Finance Corporation (IFC) and US International Development Finance Corp. for on-lending facilities to Nigerian firms investing in renewables.

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Lessons from the NCC IMEI Submission Controversy

Lessons from the NCC IMEI Submission Controversy: Foremost, Nigerians are tired of registrations of any and every sorts. This much is obvious. The hassle around the SIM registration, NIN and BVN sapped Nigerians.

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About 20 Army General to bow out of service after appointment of Yahaya as Army Chief

About 20 Army General to bow out of service after appointment of Yahaya as Army Chief: ... It's a bad decision, says Ezekwesili

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SEC to close down crowdfunding portals/digital platform that fails its registration test by June 30

SEC to close down crowdfunding portals/digital platform that fails its registration test by June 30: In a statement on Thursday, the capital market regulator said operations of such platform that fail to comply with its registration requirement before the deadline would be categorized as illegal and attract regulatory sanction as stipulated in the Rules.

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Nigeria requires N36 trln investment in infrastructure to attain double-digit growth~CBN

Nigeria requires N36 trln investment in infrastructure to attain double-digit growth~CBN: “If we take into account Nigeria’s Infrastructure Masterplan, we require close to N35 trillion worth of investment in order to attain double-digit growth.

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EFCC seeks to enlist youth corps members in fight against corruption, cybercrime

EFCC seeks to enlist youth corps members in fight against corruption, cybercrime: In the specific task of fighting cybercrimes, the EFCC’s boss admonished corps members to serve as role models by shunning all forms of cybercrimes

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Nigeria to partners French govt on Inland dry ports development

Nigeria to partners French govt on Inland dry ports development: What it does is that you are spreading the economy and giving exporters access to the ports. We are calling for government to declare the dry port as centres for exports so everything will be there.

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CBN Gov, Emefiele canvasses increase investment in agric sector by states

CBN Gov, Emefiele canvasses increase investment in agric sector by states: “With the decline in our foreign exchange earnings, we can no longer afford to support continued importation of items that can be produced in Nigeria.

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Again, Nigeria’s naira depreciates to N495/$ on parallel market

Again, Nigeria’s naira depreciates to N495/$ on parallel market: The naira fell against the dollar on Wednesday, triggered by the CBN adjustment of the currency rate at the official window to reflect market-determined rate at the Investors and Exporters (I&E) window.

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Major General Farouk Yahaya is Nigeria’s new Chief of Army Staff

Major General Farouk Yahaya is Nigeria’s new Chief of Army Staff: Yahaya, before his appointment, was the General Officer Commanding 1 Division of the Nigerian Army and incumbent Theatre Commander of the Counter-Terrorism Counter Insurgency military outfit in the North East, code-named Operation Hadin Kai, formerly Lafiya Dole.

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Oil prices rise on stronger demand outlook

Oil prices rise on stronger demand outlook: Gasoline product supplied rose to 9.5 million barrels per day, a proxy for demand, while distillate demand was also higher.

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Lagos to close Eko Bridge for 3-month for emergency repair

Lagos to close Eko Bridge for 3-month for emergency repair: The state Commissioner for Transportation, Frederic Oladeinde, said in a statement that the repair was necessary to complete the rehabilitation works at the opposite side of the bridge earlier embarked upon by the Federal Government, hence the need for a notice of routes diversion.

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BPE to privatise TCN, other electricity firms in proposed new reforms of power sector

BPE to privatise TCN, other electricity firms in proposed new reforms of power sector: The sale of the transmission assets would be the biggest overhaul of Nigeria’s power system since 2013, when the government disposed of the state power company’s generation and distribution infrastructure.

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Nigeria to host African athletes for pre-Olympic qualifications

Nigeria to host African athletes for pre-Olympic qualifications: The championship had been set for Algiers but will now be held in Lagos from June 23-27, the Confederation of African Athletics has said.

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Nigeria’s contributory pension assets rise 0.40% in April to N12.39 trln

Nigeria’s contributory pension assets rise 0.40% in April to N12.39 trln: The data also showed that a total of N8.32 trillion was invested in government securities, comprising of FGN bonds, Sukuk, Green Bond and Treasury bills.

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U.S. gives emergency use approval for GSK-Vir COVID-19 antibody drug

U.S. gives emergency use approval for GSK-Vir COVID-19 antibody drug: The antibody drug, Sotrovimab, is not authorized for patients who are hospitalized due to COVID-19 or require oxygen therapy, the health regulator said on Wednesday.

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Accountant General of the Federation recants claim on £4.2 mln Ibori loot

Accountant General of the Federation recants claim on £4.2 mln Ibori loot: “The money is still being awaited, after which the issues around it will be resolved before further action is taken.” “For now, no money has been returned to Delta State,”

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Dangote Cement Plc is committed to creating wealth for its shareholders

Dangote Cement Plc is committed to creating wealth for its shareholders: “We are also focused on increasing capacity in the Nigerian market and building grinding plants across West and Central Africa to be fed clinker from Nigeria,” he said.

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Nigeria’s naira depreciates 1.23% to N393/$ at parallel market

Nigeria’s naira depreciates 1.23% to N393/$ at parallel market: The decline in the value of the naira at the parallel market was triggered by the announcement by the Central Bank of Nigeria (CBN) on Tuesday that it has adopted the Investors and Exporters (I&E) widow rate as the official exchange rate.

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Lagos demands special economic status, seeks state police, fiscal federalism

Lagos demands special economic status, seeks state police, fiscal federalism: “For us in Lagos State, the issues of State Police and fiscal federalism are at the top of the priority list for us, in this ongoing review process.

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Nigeria’s startup teaches unemployed youth to code on smartphones

Nigeria’s startup teaches unemployed youth to code on smartphones: “We are effectively giving them a tool to work whether they have a PC (personal computer) or not,” said Anyaele, who runs three-month courses.

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Rwanda President at UBA forum, canvasses strong political will by African leaders to make AfCFTA works

Rwanda President at UBA forum, canvasses strong political will by African leaders to make AfCFTA works: “Politics, we have to make it work. It is the political will because the movement of people, the logistic part of it, the digitalizing the systems, that is the right way to go. But how does it happen?

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SEC to sack top officials over fall in revenue, says commission top-heavy

SEC to sack top officials over fall in revenue, says commission top-heavy: “Unfortunately, almost 80 percent of our cost is staff cost. So, we need to find a way of chopping off that cost and I think work is already going on. We are top heavy, almost 50 percent of our staff are from senior managers.

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NACCIMA, ACCI signs MoU to transform Abuja DRC to national dispute Centre

NACCIMA, ACCI signs MoU to transform Abuja DRC to national dispute Centre: Going by this MoU, the ACCI DRC is to now serve as a Dispute Resolution Centre for all Nigerian Chambers of Commerce and Industry.

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NNPC, four partners resolve 12-year dispute over deepwater assets, to unlock $10 bln investment

NNPC, four partners resolve 12-year dispute over deepwater assets, to unlock $10 bln investment: According to the NNPC chief executive officer, Mele Kyari, over $10 billion worth of investment would be unlocked as a result of the agreements, which signaled the end of the long-standing disputes over the interpretation of the fiscal terms of the Production Sharing Contracts (PSC) and the emplacement of a clear and fair framework for the development of the huge deep-water assets in Nigeria.

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WhatsApp sues Indian govt over new rules on privacy infringement

WhatsApp sues Indian govt over new rules on privacy infringement: WhatsApp has filed a lawsuit in Delhi against the Indian government seeking to block regulations coming into force on Wednesday that experts say would compel

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WTO Chief, Okonjo-Iweala calls for debt restructuring for African countries

WTO Chief, Okonjo-Iweala calls for debt restructuring for African countries: The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala has called for the restructuring of debts owed by African countries to enable

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Nigerian banking credit to economy rises 3.74% to N23.53 trln in April ~CBN

Nigerian banking credit to economy rises 3.74% to N23.53 trln in April ~CBN: The gross credit rose 3.74 percent quarter on quarter as the regulatory bank’s policy on loan-to-deposit-ratio continues to influence the increase in credit to the economy.

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Lagos attracts N8.3 bln investment in two years to fund SDG scheme

Lagos attracts N8.3 bln investment in two years to fund SDG scheme: According to her, the economic policy of the state is designed to improve the business climate and promote socio-economic prosperity.

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CBN adoption of NAFEX forex rate to boost Nigeria’s oil revenue, unlock external funding ~Khan

CBN adoption of NAFEX forex rate to boost Nigeria’s oil revenue, unlock external funding ~Khan: Khan, in an email response to questions on Tuesday’s Monetary policy committee (MPC) decision to retain its benchmark rate at 11.5 percent, said “most important point to emerge from the CBN’s press conference was confirmation that the I&E rate was being used for official transactions.

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Dangote to boost its investment in Tanzania, eyes fertilizer, other sectors

Dangote to boost its investment in Tanzania, eyes fertilizer, other sectors: Dangote said that while the Government’s role is to provide a conducive investment environment, it is the role of private sector players to create jobs that will eventually lead to the growth and development of the economy.

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FG returns £4.2 mln Ibori loot to Delta State Treasury

FG returns £4.2 mln Ibori loot to Delta State Treasury: He said that such funds looted from the treasury of a state are always returned to the state. He added that states can sue the Federal Government to recover such funds.

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Nigeria’s central bank formally moves official exchange rate to N410.25

Nigeria’s central bank formally moves official exchange rate to N410.25: The regulatory bank posted the NAFEX rate of N410.25 on its website on Monday, to replace its previous N379 per dollar rate it had adopted last year as a benchmark for the foreign exchange rate.

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CBN retains its benchmark interest rate at 11.5%

CBN retains its benchmark interest rate at 11.5%: The Central Bank of Nigeria (CBN) on Tuesday retained its benchmark interest rate at 11.5 percent at the end of the Monetary Policy Committee (MPC) meeting in

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The state of Nigeria nation: presidency open support for anarchy

The state of Nigeria nation: presidency open support for anarchy: Banning open grazing does not in any way tantamount to restriction of movement or freedom of movement by citizens. While every citizen has the right to freely move around the country without being hindered, the illegal occupation of Southern forest by herdsmen should not be seen as part of their right of movement.

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Ondo Gov, Akeredolu says presidential spokesman Garba Shehu is ‘an agent provocateur’

Ondo Gov, Akeredolu says presidential spokesman Garba Shehu is ‘an agent provocateur’: “Mr Garba must disclose, this day, the real motive(s) of those he serves, definitely not the President. He cannot continue to hide under some opaque, omnibus, and dubious directives to create confusion in the polity.

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EFCC operatives arrest six suspected internet fraudsters

EFCC operatives arrest six suspected internet fraudsters: They were arrested at Bricks Estate, Independence Layout, Enugu based on credible intelligence on their alleged criminal activities, according to the EFCC in a statement.

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ECOWAS leaders move to intervene in Mali after ‘attempted coup’

ECOWAS leaders move to intervene in Mali after ‘attempted coup’: A delegation from the main regional decision-making body ECOWAS will visit Bamako on Tuesday.

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Fuel laden truck explodes at Egbeda area of Lagos ~LASEMA

Fuel laden truck explodes at Egbeda area of Lagos ~LASEMA: Osanyintolu said, “On arrival at the scene by first responders, it was observed that a fully loaded tanker with diesel had a brake failure and subsequently lost control, falling off the road which caused an explosion and fire outbreak.

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Cabinet reshuffle triggers Coup in Mali, Presidential election may be derailed

Cabinet reshuffle triggers Coup in Mali, Presidential election may be derailed: Mali’s President Bah N’Daw and Prime Minister Moctar Ouane were taken to military barracks outside the capital Bamako on Monday hours after a government reshuffle, according to the United Nations and officials from several governments.

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CBN reviews upward capital for payment service providers, adjusts other requirements

CBN reviews upward capital for payment service providers, adjusts other requirements: In its latest requirement for payment service providers, the regulatory bank, however, reviewed downward, the capital requirements for licensing of Payment Solution Services (PSSs) to N100 million from N250 million.

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Nigeria bans 22-year old aircraft from its airspace, releases N5 bln bailout funds for aviation sector

Nigeria bans 22-year old aircraft from its airspace, releases N5 bln bailout funds for aviation sector: While making a presentation before the committee, the Director General of the Nigeria Civil Aviation Authority (NCAA), Musa Nuhu, said that the regulatory agencies would no longer approve licenses for any aircraft above 22 years to operate in Nigeria airspace.

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Nigeria reviews solid mineral regulations to tap potentials, boost revenue

Nigeria reviews solid mineral regulations to tap potentials, boost revenue: “It is envisaged that developing a more regulated mineral sector would obviously create conducive environment that would significantly enhance mining business in Nigeria,” the minister stated.

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Bitcoin rebounds Above $38,000 After Weekend Selloff

Bitcoin rebounds Above $38,000 After Weekend Selloff: raders may be feeling more positive as the crypto industry holds one of its biggest conferences of the year. Federal Reserve Governor Lael Brainard noted at the Consensus conference that a big issue for central banks with regard to a digital currency is the impact on the financial system.

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Lagos, Ogun States sign joint development pact

Lagos, Ogun States sign joint development pact: Abiodun said the commission will focus on socio-economic development areas such as: “Infrastructure development, including the development of boundary town roads, waterworks, mass transportation by rail, road, and waterways. ";

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Ecobank sets aside N100 bln to finance MSMEs ~CEO

Ecobank sets aside N100 bln to finance MSMEs ~CEO: “We can see clearly that in terms of moving the majority of Nigerians from the realm of poverty to financial inclusion and wealth creation, it is important that we pay attention and explore the potentials of MSMEs.

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New Kenyan $5 bln Port promises to Be East Africa’s Biggest

New Kenyan $5 bln Port promises to Be East Africa’s Biggest: Two Maersk vessels made maiden calls at Kenya’s new Indian Ocean port last week as the country launched the first of a planned 32 berths at the harbor it

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Another INEC office in Enugu set ablaze

Another INEC office in Enugu set ablaze: According to the state Chief Fire Officer, Okwudili Ohaa who confirmed the incident said the fire was confined to only a room in the office before it was put out.

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SEC adopts Nigerian Sustainable Finance Principles

SEC adopts Nigerian Sustainable Finance Principles: The capital market regulatory body said in a statement that the objectives of its guidelines on NSFP are to stimulate a resilient, competitive and sustainable market that promotes the development and improves the quality of life for all while boosting corporate governance practices

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Governor Ayade of Cross River State: Much I do about nothing

Governor Ayade of Cross River State: Much I do about nothing: A whole university professor. He ended up begging for Covid 19 palliatives from the federal government. He also begged for the establishment of Covid 19 medical facilities to treat a medical condition which he denies its existence in his state.

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Egypt to produce 40 mln doses of China’s Sinovac vaccine locally

Egypt to produce 40 mln doses of China’s Sinovac vaccine locally: “VACSERA will produce more than 5 million doses of Sinovac vaccine in two months, and 40 million doses within a year,” she said.

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Nigeria slashed crude oil production by 52 mbpd in 8-month to meet OPEC+ output cut

Nigeria slashed crude oil production by 52 mbpd in 8-month to meet OPEC+ output cut: The National Bureau of Statistics (NBS) said the oil production average for the first quarter of 2021 stood around 1.72 mbpd in the first quarter against 2.07 mbpd in the corresponding period of last year.

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CSCS to pay N5.85 bln dividends to shareholders

CSCS to pay N5.85 bln dividends to shareholders: “Growing profit by over 41 percent in such a challenging year to deliver 20.3 percent return on average equity, the Board of Directors is more than ever upbeat on the value accretive prospects of CSCS.

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Nigeria revokes visas for 27 Indians, lists 63 Nigerians as person of interest over Covid protocol violation

Nigeria revokes visas for 27 Indians, lists 63 Nigerians as person of interest over Covid protocol violation: In a move that is a radical departure from merely publishing the passport number of the violators, the federal government has for the time published the names in addition to the passport numbers of the defaulters.

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President Buhari faux pass in response to death of his army chief, others

President Buhari faux pass in response to death of his army chief, others: By now, Nigerians are expecting a declaration of a period of national mourning for the dead, who lost their lives while on national service. By now, the national flag should be flying half-mast to signify the mourning of our top military brass who sacrificed their lives in the course of defending the nation.

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Buhari orders national flag flow half mast in honour of army chief, other officers who died in plane crash

Buhari orders national flag flow half mast in honour of army chief, other officers who died in plane crash: In a statement late Sunday night, the President said from Monday 24 to Wednesday 26, 2021, the national flag should be flown at half-mast in honour of the late chief of Army staff and the 10 military officers that perished in a plane crash on Friday.

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CHURCH BUSINESS: Watch out! that message could be termed arrogance

CHURCH BUSINESS: Watch out! that message could be termed arrogance: From the pulpit, I have heard such word as ‘you are a fool if you’re still doing so and so,’ ‘get your head examined because you are not living right with God’ and other nasty words that should not be found in whatever message a preacher want to communicate to his/her audience.

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Nigeria economy grows 0.51% in Q1 2021, better than 0.11 % previously ~NBS

Nigeria economy grows 0.51% in Q1 2021, better than 0.11 % previously ~NBS: In its latest report on the Gross Domestic Product (GDP), the NBS stated that the nation’s economy has grown for two consecutive quarters as against “following the negative growth rates recorded in the second and third quarters of 2020.”

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Nigeria signs contract for 360 MW Gurara II Dam project

Nigeria signs contract for 360 MW Gurara II Dam project: The signing of the EPC contract for the 360MW project by the Federal Ministry of Water Resources was one of the major achievements of the ministry in recent times.

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South Africa may push for military action against Mozambique insurgents

South Africa may push for military action against Mozambique insurgents: The militants have stepped up violence in the past year with more sophisticated attacks, delaying construction of a new $20 billion liquefied natural gas project run by French oil major, Total that declared force majeure on the new build

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Nigeria begins investigation into airforce plane crash that claimed Army chief, 10 others

Nigeria begins investigation into airforce plane crash that claimed Army chief, 10 others: According to the minister of aviation, Hadi Sirika, “Investigation has commenced today in accordance with our recent MOU with the military.”

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Kenya’s Safaricom led consortium wins mobile phone licence in Ethiopia

Kenya’s Safaricom led consortium wins mobile phone licence in Ethiopia: The consortium, which includes Vodacom and British development finance agency CDC Group, paid $850 million for the licence, Brook said. South Africa’s MTN had also bid for a licence. ";

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French Total plans name change to TotalEnergies in readiness for climate change

French Total plans name change to TotalEnergies in readiness for climate change: “The group is expressing its intention to transform itself into a multi-energy company to respond to the twin challenges faced by energy transitions: more energy and fewer emissions,” chief executive Patrick Pouyanne said in a French-language statement.

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Nigeria’s three tiers share N616.87 bln revenue in April

Nigeria’s three tiers share N616.87 bln revenue in April: According to the Office of Accountant General of the Federation, the gross statutory revenue for April was N429.73 billion, the gross revenue from the Value Added Tax was N164.34 billion and revenue from the exchange gain amounted to N2.25 billion.

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WEEKEND SPECIAL: Is Nigeria Falling Apart?

WEEKEND SPECIAL: Is Nigeria Falling Apart?: When Muhammadu Buhari came to power in Nigeria in 2015, he pledged to end the insecurity that plagued the country’s northeast as a result of a jihadist

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Nigeria oil exports decline to 1.33 mbpd in May vs 1.46 mbpd, as it struggles to find buyers

Nigeria oil exports decline to 1.33 mbpd in May vs 1.46 mbpd, as it struggles to find buyers: Shipping data and trade sources also showed that oil exports from Nigeria, Africa’s top producer and an OPEC member, have dropped by 130,000 barrels per day or more this month as loadings slow from a number of terminals

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Army confirms death of COAS, 10 others as President Buhari mourns

Army confirms death of COAS, 10 others as President Buhari mourns: “The COAS was enroute Kaduna from Abuja on Friday, 21 May, 2021 when the unfortunate incident happened.

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CBN still sell dollar at N393 to Bureaux De Change ~Gwadabe

CBN still sell dollar at N393 to Bureaux De Change ~Gwadabe: The ABCON boss attributed the continued fall of the naira at the parallel market and Investors’ and Exporters’ (I&E) Forex window to currency speculators hoarding dollars to profit from the currency crisis.

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Nigeria, Ghana, Kenya central banks to retain benchmark interest rate next week ~Analysts

Nigeria, Ghana, Kenya central banks to retain benchmark interest rate next week ~Analysts: Razia Khan, head of research for Africa and Middle East at Standard Chartered, said the focus in Nigeria would be on reforms to the forex market and fuel subsidies.

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NCC to capture subscribers device IMEI automatically

NCC to capture subscribers device IMEI automatically: The Nigerian Communications Commission (NCC) has said that it will automatically capture the IMEI of mobile phone subscribers "without any requirement for

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Nigerian Army chief Attahiru dies in Airforce plane crash

Nigerian Army chief Attahiru dies in Airforce plane crash: The Nigerian Chief of Army Staff Ibrahim Attahiru has died in an Airforce aircraft on his way to Kaduna along with some of his aides,

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Nigeria’s MainOne to boost data storage capacity as demand for service surges

Nigeria’s MainOne to boost data storage capacity as demand for service surges: Nigeria’s biggest data services firm, MainOne Cable Co., plans to almost double storage capacity over the next two years after demand for its services

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Nigeria remains focus on improving tax revenue ~Finance Minister

Nigeria remains focus on improving tax revenue ~Finance Minister: “Nigeria’s low revenue generation has been a very serious challenge for past and present Administration.

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Nigerians kick as FG ask mobile phone users to submit their devices IMEI as from July

Nigerians kick as FG ask mobile phone users to submit their devices IMEI as from July: However, many Nigerians have kicked against the move, describing it as a deliberate move to curb freedom of speech and compromise the secrecy of the citizen’s personal information.

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Nigeria’s first quarter’s GDP data to come few days late ~NBS chief

Nigeria’s first quarter’s GDP data to come few days late ~NBS chief: The NBS had reported that the country’s economy grew 0.11 percent at the end of the fourth quarter of last year, indicating that Nigeria exited recession at the end of last year, earlier than projection.

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African Union Gives Chad military 18-month deadline to Restore Democracy

African Union Gives Chad military 18-month deadline to Restore Democracy: The African Union (AU) gave Chad an 18-month deadline to restore democracy, after a military takeover last month.

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Prices of 12.5kg Cooking gas decline 0.96% to N4,317 in April ~NBS

Prices of 12.5kg Cooking gas decline 0.96% to N4,317 in April ~NBS: The report showed that price for refiling the same cylinder size declined 0.96 percent month-on-month from N4,359.23 in March.

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Colonial Ransomware Attack – A Wakeup Call for Nigeria

Colonial Ransomware Attack – A Wakeup Call for Nigeria: Reports emerged that the company paid a 75 bitcoin ransom – worth as much as $5 million, depending on the time of payment – in an attempt to restore service more quickly. Colonial has since resumed operations.

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Mobile phone users to submit their devices IMEI number to NCC from July

Mobile phone users to submit their devices IMEI number to NCC from July: The IMEI number is the mobile phone’s fingerprint. It is a 15-digit number unique to each phone. With the IMEI number, a phone can be tracked and located irrespective of the cellular number in it.

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Youth Entrepreneurs the key to Economic Revival ~ACCI

Youth Entrepreneurs the key to Economic Revival ~ACCI: “We believe the main drivers of the economy should be youth entrepreneurs. That is why we have created the young CEOs club to mentor them and use them as a tool to draw more youth into entrepreneurship’’, he noted

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Nigeria, other African countries acquire 39 mln COVID Vaccines doses

Nigeria, other African countries acquire 39 mln COVID Vaccines doses: The Africa CDC, the specialized healthcare agency of the 55-member African Union, said 24 million COVID-19 doses have been administered, out of the over 39 million acquired by member states.

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WTO Chief, Okonjo-Iweala seeks expansion of Covid vaccines production

WTO Chief, Okonjo-Iweala seeks expansion of Covid vaccines production: Okonjo-Iweala listed three other routes: reducing export restrictions and reinforcing supply chains for vaccines, working with manufacturers to expand production, and transferring the necessary technology and expertise to produce complicated vaccines.

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PDP calls on Cross Rivers members to sustain its structure after defection of Ayade

PDP calls on Cross Rivers members to sustain its structure after defection of Ayade: “Our party calls on all critical stakeholders and teeming members of our party in Cross Rivers State to immediately pull together and ensure that all structure of our party in the state remain intact.

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President Buhari returns to Nigeria after attending African Finance Summit in Paris

President Buhari returns to Nigeria after attending African Finance Summit in Paris: “President Buhari arrives Abuja after official trip to Paris, France, for #AfricaFinanceSummit. Follow #PMBinParis for updates from his Trip,” wrote on @NGRPresident.

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WASU commends Dangote Group employment generation efforts

WASU commends Dangote Group employment generation efforts: “As students, we are often scared of our future because of the high unemployment rate in our region, but with a man like Aliko Dangote, we are optimistic and only prayed for more Africans like him so as to totally eliminate the high scourge of unemployment in our continent as a whole”

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Seplat shares gain 10% on crude price rally, index down 0.30 %

Seplat shares gain 10% on crude price rally, index down 0.30 %: However, despite the gain in the share of Seplat, the overall market index fell 0.30 percent at the close of trading on Thursday.

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Why I dumped PDP, crosses over to APC ~Ben Ayade

Why I dumped PDP, crosses over to APC ~Ben Ayade: His decamping is, however, not coming to many as a surprise as his body language and the loss of control of the PDP structure to the National Assembly members and stakeholders in the state and the general loss of favour in the PDP at the national level over time is considered a major determinant.

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Spain accuses Morocco of “blackmail” after surge in migrants across Spanish border

Spain accuses Morocco of “blackmail” after surge in migrants across Spanish border: While there has been no official comment from the Moroccan government on this week’s events in Ceuta, Minister of State for Human Rights Mustafa Ramid suggested in a Facebook post that they were connected to Ghali’s case.

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The Igbo don’t want war, don’t want to secede ~Ebonyi Gov

The Igbo don’t want war, don’t want to secede ~Ebonyi Gov: “In the Southeast we don’t want war, we don’t want to secede, we want to be a part of a fair Nigeria where justice, equity and freedom exist,” says Umahi at the briefing.

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Nigeria governors ask NNPC to hike pump price of fuel to N385/liter

Nigeria governors ask NNPC to hike pump price of fuel to N385/liter: Analysts said the position of the NGF was a block decision to counter any other opposition at Thursday’s NEC meeting meant to take a decision on the recommendation of the El-Rufai report.

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Chapel Hill Denham now signatory to UN-supported Principles of Responsible Investment

Chapel Hill Denham now signatory to UN-supported Principles of Responsible Investment: In a statement, the investment banking firm said with this, it has joined a global network of nearly 4,000 signatories representing over $100 trillion in assets under management who are committed to incorporating environmental, social and corporate governance (ESG) measures into their investment decision-making and practices.

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Nigeria designates four airports special economic zones ~Sirika

Nigeria designates four airports special economic zones ~Sirika: “I am very glad to announce that Mr President has Approved our four International Airports as Special Economic Zones. These are Lagos, Kano, Abuja & Port Harcourt. Our roadmap working,” Sirika wrote on his Twitter handle on Thursday.

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Nigeria raise N175 bln bonds at higher rates across board ~DMO

Nigeria raise N175 bln bonds at higher rates across board ~DMO: Details of the results of the auction published on the website of the Debt Management Office (DMO) showed that the amount raised was also higher than the N157.95 billion raised at the last month’s auction.

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NCAA grounds Aero aircraft for repairs following a deadly bird strike

NCAA grounds Aero aircraft for repairs following a deadly bird strike: An official of the airline who spoke on condition of anonymity said the bird strike had cost the company a lot of money following the grounding and subsequent maintenance efforts.

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Lagos reviews upward cost of fourth mainland bridge constructions to $2.5 bln

Lagos reviews upward cost of fourth mainland bridge constructions to $2.5 bln: The construction of the proposed fourth mainland bridge will now cost $2.5 billion against the previous projection of $2.2 billion, Director-General, Office

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More and more debt…Where do we draw the line?

More and more debt…Where do we draw the line?: However, we reiterate our position that the FG’s debt service cost as a percentage of revenue is a fairer reflection of the country’s debt sustainability position.

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Victims of police brutality express anger at level of compensation at endsars panel

Victims of police brutality express anger at level of compensation at endsars panel: Ndukwe Ekekwe was furious when he heard how much compensation a judicial panel had awarded him after finding that members of an elite Nigerian police unit

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Britain seeks civil society involvement in Nigeria fight against insecurity

Britain seeks civil society involvement in Nigeria fight against insecurity: Nigeria should work toward building confidence and trust of the populace in government as part of measures to combat insurgency and insecurity in the country.

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World Bank to disburse $150 bln in loans, grants to African nations in next 5-year

World Bank to disburse $150 bln in loans, grants to African nations in next 5-year: The World Bank plans to invest about $150 billion in Africa within the next five years towards promoting development on the continent, according to the

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Nigeria national carrier, ‘Air Nigeria’ to start operations in 2nd quarter of 2022 ¬Sirika

Nigeria national carrier, ‘Air Nigeria’ to start operations in 2nd quarter of 2022 ¬Sirika: The Nigeria’s new national carrier will commence operations within the first three months of 2022, the minister of Aviation, Hadi Sirika has said.

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President Buhari at Paris summit, calls for debt relief for African nations

President Buhari at Paris summit, calls for debt relief for African nations: “It is in this vein that we solicit the support of the French government with its influence in the European Union to lend its voice to the efforts being made to mobilize additional resources for developing economies most especially Africa in order to strengthen the quantum of investments to our economies.

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President Buhari meets WTO chief, Okonjo-Iweala, AfDB President, Adesina at Paris summit

President Buhari meets WTO chief, Okonjo-Iweala, AfDB President, Adesina at Paris summit: “With His Excellency, President @MBuhari  and my brother @akin_adesina  at President @EmmanuelMacron’s Financing Africa Summit in Paris. Discussing the need for preparedness, response and resilience in Africa’s approach to this pandemic and the next one,” Okonjo-Iweala wrote on her Twitter handle.

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Nigeria to raise $3 bln in Eurobond to fund budget deficits

Nigeria to raise $3 bln in Eurobond to fund budget deficits: “From recent trends in the ICM, it is now possible for Nigeria to raise funds in the ICM. We estimate that Nigeria may be able to raise $3 billion or more, but not more than $6.18 billion in a combination of tenors between five to 30-years,”

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How FBI nabs Ogun State Gov special adviser for $0.35 mln fraud

How FBI nabs Ogun State Gov special adviser for $0.35 mln fraud: However, in a prompt  response, the Ogun State Governor has suspended Rufai from office, saying the news of his aide’s involvement in fraud is disturbing.

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Sub-Saharan Africa requires $40 bln annual flow to achieve Net-zero emission by 2050 ~Osinbajo

Sub-Saharan Africa requires $40 bln annual flow to achieve Net-zero emission by 2050 ~Osinbajo: “Nigeria and countries across Africa are committed to a net-zero future, especially given their vulnerability to the adverse effects of climate change, and all have expressed commitment to their national development contributions under the Paris Agreement.

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Nigeria Commodity Exchange to start operations in Q4, gets N50 bln commitment from CBN, partners

Nigeria Commodity Exchange to start operations in Q4, gets N50 bln commitment from CBN, partners: Emefiele who spoke at the unveiling the 2020 wet season harvest aggregation in Ekiti State, said the regulatory bank and its partners had committed the sum of N50 billion to the NCX.

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DMO clarifies Presidential request for new external loan

DMO clarifies Presidential request for new external loan: In a series of Tweets, the debt office said the fresh request for Senate approval for the borrowing was in compliance with the provisions of Sections 21 and 27 of the DMO (Establishment, Etc.) Act, 2003.

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Nigeria in Talks With Shell Over plans to divestment from its Onshore assets

Nigeria in Talks With Shell Over plans to divestment from its Onshore assets: Options on the table include a potential divestment to the Nigerian Petroleum Development Company Ltd (NPDC), a unit of the NNPC, according to the petroleum minister.

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Finally, Nigeria receives £4.2 mln Ibori loot from UK

Finally, Nigeria receives £4.2 mln Ibori loot from UK: According to the Minister of Justice, Abubakar Malami, who confirmed the receipt in a statement, the money has been credited into the designated Federal Government account with naira equivalent value of the amount as of May 10, 2021.

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President Buhari seeks Senate approval to borrow $6.8 bln from external sources

President Buhari seeks Senate approval to borrow $6.8 bln from external sources: The loan, the president stated would enable the Federal Government to fund critical infrastructural projects in transportation, health and education, among others.

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Ex-Kwara Gov, Ahmed in EFCC custody over allegation of N9 bln diversion

Ex-Kwara Gov, Ahmed in EFCC custody over allegation of N9 bln diversion: The former governor has been under interrogation for the past seven hours at the EFCC headquarters in Jabi, Abuja, over alleged diversion of N9 billion by his administration, according to sources.

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DPR industry’s alternative dispute resolution centre resolves first arbitration

DPR industry’s alternative dispute resolution centre resolves first arbitration: He said the ADRC had a six-member Advisory Council and a 20-member Body of Neutrals, mediating on disputes between players in the oil and gas value chain.

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Microsoft investigation into Gates’s romantic affairs with a staff was inconclusive

Microsoft investigation into Gates’s romantic affairs with a staff was inconclusive: The board reviewed the matter and held a “thorough investigation” with the help of an external law firm, the software giant said. It didn’t reach a conclusion to the probe because Gates had stepped down before it was completed, Microsoft said.

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Fresh gunmen attack on Umuahia Police formation, two Policemen killed, station burnt

Fresh gunmen attack on Umuahia Police formation, two Policemen killed, station burnt: He said the operatives, who were deployed to reinforce security at the station, tried to repel the assailants.

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Nigeria’s headline inflation declines to 18.12% in April vs 18.17% in March~NBS

Nigeria’s headline inflation declines to 18.12% in April vs 18.17% in March~NBS: Food inflation also dropped to 22.72 percent in April from 22.95 percent in the previous month, according to the NBS latest data.

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Osinbajo has not declared interest in 2023 presidential election yet, says spokesman

Osinbajo has not declared interest in 2023 presidential election yet, says spokesman: The statement said Osinbajo has not declared any interest whatsoever in the 2023 election, but he is rather focused on working in his capacity as Vice President in the current administration to address all the compelling issues in the country.

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France provides Sudan $1.5 bln bridge loan to pay off IMF debt

France provides Sudan $1.5 bln bridge loan to pay off IMF debt: Sudan recently cleared arrears with the World Bank and the African Development Bank with bridge loans from Western states.

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Long working hours are a killer ~WHO study

Long working hours are a killer ~WHO study: “Working 55 hours or more per week is a serious health hazard,” said Maria Neira, director of the WHO’s Department of Environment, Climate Change and Health.

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Stange occurrences in Aso Rock, Nigeria seat of power

Stange occurrences in Aso Rock, Nigeria seat of power: There is an effort to play down the twin invasion of the residences of two top shots in the administration of President Buhari. An impression is being created that both incidents don’t matter.

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Southern States ready to enact anti-grazing law to curb insecurity

Southern States ready to enact anti-grazing law to curb insecurity: Despite the challenges in the implementation of the law by the states that had enacted the law, some states are going ahead to enact the law to prohibit open grazing in their domains.

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Lagos Free Zone will open up Nigeria as a destination for FDI ~Indian High Commission

Lagos Free Zone will open up Nigeria as a destination for FDI ~Indian High Commission: He assured the Lagos Free Zone team that the Indian High Commission in Nigeria would do all within its means to help promote and attract the much-needed investment into Nigeria.

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Nigeria’s govt borrows 69% of N12.3 trln pension assets as of March 2021

Nigeria’s govt borrows 69% of N12.3 trln pension assets as of March 2021: The data obtained from PENCOM showed that a total of N8.51trillion of the N12.34 trillion total pension assets in March was borrowed by the government through bonds, treasury bills, Sukuk, Green Bonds and Agency bonds.

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President Buhari to attend African Finance Summit in Paris, jets out on Sunday

President Buhari to attend African Finance Summit in Paris, jets out on Sunday: The Summit, to be hosted by President Emmanuel Macron, will draw major stakeholders in the global finance institutions and some Heads of Government, who will, collectively, discuss external funding and debt treatment for Africa, and private sector reforms.

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Free Zones Stakeholders seek urgent intervention over planned reforms

Free Zones Stakeholders seek urgent intervention over planned reforms: According to a statement by Yusufu Abdullahi, Director, Snake Island Integrated Free Zone Lagos, the proposed reform was described as “a ploy to destroy multi-million naira private investment in the free zones”

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Ghana economy rebounding with strong policies support, IMF says

Ghana economy rebounding with strong policies support, IMF says: “Policy interventions in 2020 were also critical to safeguard livelihoods and paved the way for a faster rebound of economic activity,” said Carlo Sdralevich, a country mission head, in a statement following virtual meetings ended on May 12.

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Egypt starts dredging work on Suez Canal to extend double lane

Egypt starts dredging work on Suez Canal to extend double lane: Reports indicate that about 12 percent of global trade passes through the 193km canal, which connects the Mediterranean Sea to the Red Sea.

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Nigeria’s naira weakens at I&E, parallel markets as CBN ‘moves’ official rate

Nigeria’s naira weakens at I&E, parallel markets as CBN ‘moves’ official rate: The Central Bank of Nigeria (CBN) deleted its exchange rate indicator on its website, fueling speculations that the bank may have decided to merged its official rate with the I&E rate.

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Nigeria selects 26 firms, 12 countries to lift crude oil till 2023

Nigeria selects 26 firms, 12 countries to lift crude oil till 2023: The 26 companies and 12 governments will have the right to sell and trade some of the more than 1.5 million barrels per day (bpd) produced by Nigeria, Africa’s top oil exporter, from 2021 to 2023.

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Arsonist sets Enugu INEC office ablaze, destroyed electoral materials, equipment

Arsonist sets Enugu INEC office ablaze, destroyed electoral materials, equipment: The commission said the Enugu fire was the third incident involving INEC’s local government offices in three states in less than two weeks.

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More than 150 migrants intercepted by coast guard, returned to Libya

More than 150 migrants intercepted by coast guard, returned to Libya: The International Organization for Migration (IOM) on Thursday said that more than 150 migrants were intercepted on the Mediterranean route on the way to

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Unilever Plc sets up new firm to manage its global tea business

Unilever Plc sets up new firm to manage its global tea business: In a regulatory filing, the household product manufacturer said the new company, New TeaCo will take over its Nigeria Tea Business in a bid to improve its competitiveness in the tea.

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Nigeria strengthens NIMASA to fight piracy, take delivery of special mission aircraft

Nigeria strengthens NIMASA to fight piracy, take delivery of special mission aircraft: He said there had been a drastic reduction in the rate of attacks in the country’s Exclusive Economic Zone (EEZ) with the deployment of the Deep Blue Project assets.

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NPA rules were never breached for Dangote or any other firms at Onne Port ~ Bala-Usman

NPA rules were never breached for Dangote or any other firms at Onne Port ~ Bala-Usman: I wish to state with all emphasis that these accusations are false and mischievous,” she said in a statement.

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U.S. CDC says fully vaccinated people can largely do away with masks

U.S. CDC says fully vaccinated people can largely do away with masks: “If you are fully vaccinated, you no longer need to wear a mask,” he said, summarizing the new guidance and encouraging more Americans to roll up their sleeves. “Get vaccinated — or wear a mask until you do.”

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Marriot International berth in Nigeria with 250-bed 5-star hotel

Marriot International berth in Nigeria with 250-bed 5-star hotel: Its premium facilities include four restaurants and beverages outlets, 1000-capacity ballroom, rooftop bar, outdoor swimming pool, business centre, boardrooms, spa, gym and fitness club.

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Africa’s COVID-19 cases surpass 4.66 mln ~ Africa CDC

Africa’s COVID-19 cases surpass 4.66 mln ~ Africa CDC: The Africa CDC, the specialized healthcare agency of the African Union, said the death toll from the pandemic stood at 125,404 while 4,219,117 patients across the continent have recovered from the disease.

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‘Impossible’ to hold Olympics during pandemic, Japan doctors union warns

‘Impossible’ to hold Olympics during pandemic, Japan doctors union warns: “We can’t deny the danger that many kinds of new virus variants will bring to Tokyo from around the world,” the union statement added.

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President Buhari pledges to confront banditry threat to nation’s food security

President Buhari pledges to confront banditry threat to nation’s food security: “I expect Nigerians to be more understanding on the issues involved, looking at time and available resources.

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Wealthy nations once lauded as successes lag in vaccinations

Wealthy nations once lauded as successes lag in vaccinations: In Japan, South Korea and New Zealand, the vaccination rates are languishing in the single figures. That is in sharp contrast to the U.S., where nearly half of all people have gotten at least one shot, and Britain and Israel, where rates are even higher.

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Airtel Africa pays 4.0 cents dividends as it grows revenue 14.2% in 2021FY

Airtel Africa pays 4.0 cents dividends as it grows revenue 14.2% in 2021FY: The telco reported revenue grew of 14.2 percent to $3.91 billion for the 2021 financial year ended March from $3.42 billion last year as EBITDA grew 18.3 percent to $1.79 million.

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Nigeria diaspora remittances decline 28% in 2020 due to exchange rate disparity ~W/Bank

Nigeria diaspora remittances decline 28% in 2020 due to exchange rate disparity ~W/Bank: The bank report showed that Sub-Saharan African remittances declined 12.5 percent in 2020 due mostly to a 28 percent drop in money sent to Nigeria, which suffered from high U.S. dollar-exchange premiums in informal markets.

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Global economic growth to mask widening inequality in 2021 ~ U.N

Global economic growth to mask widening inequality in 2021 ~ U.N: Global economic growth is expected to reach 5.4% this year, bouncing back from 2020’s contraction of 3.6% and picking up from forecasts issued in January, according to the latest World Economic Situation and Prospects report.

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U.S. restarts main fuel pipeline operations after 6-day shutdown

U.S. restarts main fuel pipeline operations after 6-day shutdown: “Following this restart, it will take several days for the product delivery supply chain to return to normal.

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Nigeria picks Trafigura, Total 14 other firms for crude-for-fuel swaps 1-year contract

Nigeria picks Trafigura, Total 14 other firms for crude-for-fuel swaps 1-year contract: The list includes major Swiss trading firms Trafigura, Vitol and Mercuria, oil major Total as well as large Nigerian traders Sahara Energy, Oando and MRS Oil.

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Nigeria earned N392.7 bln from CIT in Q1 2021, 32.8% more than Q4 earnings ~NBS

Nigeria earned N392.7 bln from CIT in Q1 2021, 32.8% more than Q4 earnings ~NBS: The nation generated more company income tax from breweries, bottling and beverages industry in the period under review, with N23.26 billion contributed by the sub-sector closely followed by professional services including telecoms which generated N18.17 billion in the first quarter of 2021.

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Nigeria to offer N150 bln bond at auction next Wednesday

Nigeria to offer N150 bln bond at auction next Wednesday: The debt office plans to offer N50 billion apiece in 10-,15- and 30-year bonds at the domestic Market May 19, with a settlement date the following day.

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PDP knocks Kogi gov, Bello over collapse of Okene Bridge a week after completion

PDP knocks Kogi gov, Bello over collapse of Okene Bridge a week after completion: “The PDP youth also knocked Governor Bello over the collapse of a bridge built by his administration just after one week of construction, noting that such is indicative of the shambolic state of governance in the state under an imprudent and manifestly misguided leadership,” the party said in a statement.

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Private equity firm, Actis to invest $300 mln in Nigeria, five other African nations’ power sector in 2021

Private equity firm, Actis to invest $300 mln in Nigeria, five other African nations’ power sector in 2021: The firm is planning to double investments to $2 billion in countries including Nigeria, South Africa, Kenya, Egypt, Ivory Coast and Ghana, with a focus on wind, solar and gas energy resources, she said.

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EFCC recovers $153 mln, 80 choice property from ex-petroleum minister Alison-Madueke

EFCC recovers $153 mln, 80 choice property from ex-petroleum minister Alison-Madueke: “There are several cases surrounding Diezani’s case. I was part of that investigation, and we have done quite a lot. In one of the cases, we recovered $153 million; we have secured the final forfeiture of over 80 properties in Nigeria valued at about $80 million. We have done quite a bit on that.

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Osinbajo commends SecureID for pioneering smart card manufacturing in Nigeria

Osinbajo commends SecureID for pioneering smart card manufacturing in Nigeria: “I must commend this indigenous company for laying the precedent for other local manufacturers to follow,” Osinbajo said.

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Bodies of 10 Europe-bound migrants wash up in Libya

Bodies of 10 Europe-bound migrants wash up in Libya: The bodies were found near the western Libyan towns of Zuwara and Garaboli, said Safa Msehli, a spokeswoman for the International Organization for Migration.

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Southern governors declare open grazing illegal, urge Buhari to take action against insecurity

Southern governors declare open grazing illegal, urge Buhari to take action against insecurity: EmailLinkedInPinterest

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Four W/African nations hit by power outages as Ghana, Ivory Coast struggle with generations

Four W/African nations hit by power outages as Ghana, Ivory Coast struggle with generations: A prolonged dry season has reduced water levels at hydropower dams in both countries that in some cases could take months to resolve, hampering productivity, raising costs and hitting the economies of the world’s biggest cocoa producers.

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Attack on security personnel, formations is a declaration of war against Nigeria ~Mohammad

Attack on security personnel, formations is a declaration of war against Nigeria ~Mohammad: “I want to say, unequivocally, that any attack on our security men and women is an attack on the state and a declaration of war against the nation. It follows, therefore, that this will be countered with overwhelming force.

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Lagos taskforce impounds 92 ‘Okada’ in a fresh clamp down

Lagos taskforce impounds 92 ‘Okada’ in a fresh clamp down: In a Tweet by a special adviser to the state governor on new media,  Jubril A. Gawat, he said there was resistance from the commercial motorcycle operators but they were subdued by the task force.

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Germany, others plan COVID certificate to ease travel within EU

Germany, others plan COVID certificate to ease travel within EU: European affairs ministers met on Tuesday in Brussels to discuss the details of the “green certificate” that the EU aims to introduce in June, but talks between the European Commission, EU lawmakers and EU governments have yet to reach an agreement.

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Nigeria federal civil servants to work from home till further notice ~PSC

Nigeria federal civil servants to work from home till further notice ~PSC: The PSC said federal civil servants will continue to work from home till June 11, 2021, after which the directive may be reviewed.

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Nigeria to revive plans to float new national Carrier with consortium of private sector operators

Nigeria to revive plans to float new national Carrier with consortium of private sector operators: The private sector consortium may comprise reputable international airlines, leasing companies, aircraft manufacturers, financial, and institutional investors.

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Nigerian Army launches investigation into killing of watermelon seller by personnel

Nigerian Army launches investigation into killing of watermelon seller by personnel: It is worthy of note that the General Officer Commanding 8 Division Major General Usman Yusuf has since commissioned an investigation to unravel the circumstances that led to the altercations which eventually claimed one life as efforts are ongoing to arrest the yet to be identified perpetrator,” the Army said in the statement.

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INEC approves new 13,325 polling units in Lagos

INEC approves new 13,325 polling units in Lagos: The state Resident Electoral Commissioner (REC), Sam Olumekun said the newly approved polling units is to provide unhindered access for the citizens to exercise their fundamental rights to vote.

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AfDB chief seeks diversification of Nigeria economy

AfDB chief seeks diversification of Nigeria economy: He noted that the country cannot progress unless it hastily industrialise its economy from the current overdependence on exportation of crude oil. ";

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US FDA authorises Pfizer-BioNTech vaccine for 12-15 years olds

US FDA authorises Pfizer-BioNTech vaccine for 12-15 years olds: The authorization caps weeks of anticipation among parents, who have been grappling with how to conduct their lives when only the adults in a household are immunized.

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SEC to bar unregistered capital market operators from market activities by May 31

SEC to bar unregistered capital market operators from market activities by May 31: “CMOs yet to renew their registration after May 31, 2021, shall not be eligible to operate in the capital market,” SEC wrote in the statement.

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Adamawa State plans to raise N100 bln bonds to fund agriculture

Adamawa State plans to raise N100 bln bonds to fund agriculture: The statement said the Adamawa State Executive Council had last Wednesday approved N100 billion bond for the Adamawa Agric Business Support for the period of four years.

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UN agency seeks increase funding for agric-food sector by African nations

UN agency seeks increase funding for agric-food sector by African nations: Despite meetings of the African Union (AU) Member States, beginning in 2003, where they vowed to fuel social and economic growth by pledging 10 percent of their national budgets to food and agriculture, this undertaking remains unfulfilled.

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Burglary attempt at President Buhari chief of staff resident ~Shehu

Burglary attempt at President Buhari chief of staff resident ~Shehu: “The Chief of Staff, Professor Ibrahim Gambari has confirmed that there ‘was a foolish attempt’ to burgle his residence at 3:00 am this morning but it turned out to be unsuccessful.

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