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Ganduje reconciles Dangote and BUA

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Senate queries Zainab Ahmed, accountant-general over N7.5bn ‘secret’ withdrawal done during year 2000 to 2006

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Despite exiting recession, Nigeria’s inflation rate hits four years high at 18.17%.

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Kano state governor, Abdullahi Ganduje, has waded into the trade dispute between Dangote and BUA. The two companies, owned by Aliko Dangote and Abdul Samad Rabiu, are business moguls coincidentally from Kano state. The reconciliation meeting was made public in a statement on Thursday by Abba Anwar, the governor’s chief press secretary. He said the …

The minister of finance Zainab Ahmed has been summoned by the senate committee on public accounts over an alleged secret withdrawal of N7.5 billion from the National Automotive Design and Development Council (NADDC) account. Also summoned is Ahmed Idris, accountant-general of the federation, over the withdrawal from the NADDC levy account domiciled with the Central Bank …

The consumer price index, which measures the rate of increase in the price of goods and services, increased to 18.17 percent in March from 17.33 in February despite the country exiting recession. This recent rate in March, is the highest since January 2017 when it climbed 18.72 percent. According to the March 2021 consumer price …

… Hosts Ogun, Ondo to UN Food Systems Summit   In an attempt to achieve the Sustainable Development Goal two “zero hunger” which is central to the attainment of the other 16 goals by 2030, the United Nations has set the podium to address the challenges facing food systems and security among member states ahead …

The International Monetary Fund (IMF) has forecasted a higher growth of 2.5 per cent for Nigeria in 2021 as against the 1.5 earlier announced in January. The new growth projection is 1.0 percent higher than IMF’s 2021 forecast in January. The Washington-based institution disclosed this on Tuesday during the 2021 Virtual Spring Meetings. Nigeria had exited …

The Nigerian National Petroleum Corporation (NNPC) has dispelled any rumour of fuel price hike saying it would maintain its current ex-depot price until after negotiations with organised labour. This was made public by Kennie Obateru, the group general manager, group public affairs division of NNPC, in a statement on Friday. This development is coming on …

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mele Kyari, has hinted at a future hike in the price of petrol saying the company cannot continue to bear the subsidy burden. It would be recalled that the Petroleum Products Pricing Regulatory Agency (PPPRA) had released a template increasing petrol price to N212 per …

•Lagos Governor Hails Buhari, AU on Adoption of Single Market Deal, As He Receives Trade Minister The sustained investment on infrastructure in Lagos State is a deliberate attempt to position the State’s economy for more inflow of trade and economic partnership, Governor Babajide Sanwo-Olu has said. He said Lagos would not relent in its effort …

According to a release by the Debt Management Office (DMO), Nigeria public debt increased by a whopping N629bn at the end of the year 2020 with public debt stock totalling N32.91 trillion. The report presupposes that public debt increased by N692 billion in the fourth quarter of 2020 compared to N32.223 trillion at the end …

According to the latest release by the National Bureau of Statistics, the consumer price index, which measures the rate of increase in the price of goods and services, has jumped to 17.33 percent in February. This is the highest point since April 2017. Going by the CPI/Inflation report released by the National Bureau of Statistics …