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BUSINESS UPDATES

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African leaders will give priority to available energy sources to advance development

Nigeria Vice President Yemi Osinbajo

African leaders would give priority to urgent matters of development including the use of fossil fuels and coal to generate power, while also attending to important issues around Climate Change. This disclosure was expressed today by Vice President Yemi Osinbajo, SAN, at the ongoing African Development Bank annual general meeting in Lusaka, Zambia, where he and other African leaders spoke …

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President Buhari wants local gas projects completed speedily

Nigeria_Refinery

*Permanent security agency for pipeline protection is an option *How Forcados damage caused recent drop in national power supply Concerned about both the loss of gas supply to power plants in the country and significant loss of potential revenue arising from the damaged Forcados Export Terminal, Vice President, Prof. Yemi Osinbajo, SAN, has called for an expedited repair of the …

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Diversification of Nigeria’s Economy Now a Matter of Urgency

President Muhammadu Buhari Friday in Guangzhou, China, said that his administration will take urgent steps to restructure Nigeria’s economy by encouraging new investments in mining, agricultural and manufacturing. Speaking at a reception in his honour by the Communist Party of China, President Buhari said that Nigeria will welcome the support of the Chinese government, foreign investors and local businesses for …

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President Buhari’s visit to China yields billions in investments for Nigeria

President Muhammadu Buhari has expressed satisfaction with the outcome of his working visit to China, which has yielded additional investments in Nigeria exceeding $6 billion USD. President Buhari believes that the several agreements concluded with the Chinese during the visit will have a huge and positive impact on key sectors of the Nigerian economy including power, solid minerals, agriculture, housing …

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National Economic Council Retreat Highlights

The following are highlights of the just concluded NEC Retreat: 1. Agreement reached for concerted and consistent efforts to diversify revenue sources 2. Expand compliance on VAT, adopting a gradual plan for rate increase 3. Increase expenditure through borrowing, which should be invested in infrastructure 4. Federal and State Governments to focus on fiscal responsibility as a critical element in …

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