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Nigeria advised on solid minerals exploitation

As the country seeks to diversify the economy to non-oil base following dwindling oil price, Nigeria has been advised not to be in a hurry to exploit its rich solid mineral deposits while facilities to process the resources are yet to be in place. Advisor, Business Development Unit, West African Institute for Financial and Economic Management (WAIFEM) Prof. Douglason Omotor, ...

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FRSC bans use of second hand tyres

Over 15,000 drivers have been arrested in Lagos and Ogun states for using worn-out tyres, as well as driving under the influence of drugs and alcohol. The Corps Marshal, Federal Road Safety Corps (FRSC), Mr. Boboye Oyeyemi, who announced this in Lagos at a recent forum at the FRSC command in Ojodu Berger, warned that the Corps would no longer ...

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DMO chief lists path to economic recovery
Dr. Abraham Nwankwo_3

Debt Management Office (DMO) Director-General Dr. Abraham Nwankwo has painted a rosy economic future anchored on diversification and enhanced revenue from taxation. According to him, in three to five years, Nigerians will feel the impact of the present administration’s policies on manufacturing, agriculture, entertainment and mining, among others, because they will strengthen the naira and improve foreign reserves The naira ...

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SPDC declares force majeure on Bonny Light

The Shell Petroleum Development Company of Nigeria Ltd. (SPDC) declared force majeure on Bonny Light exports effective 12:00hrs Nigerian Time, 10th May 2016 following a leak that led to the closure of Nembe Creek Trunk line for repairs by the operator, AITEO Eastern E & P Company Ltd. According to the organisation, enquiries on the incident and repair should be directed ...

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Nigeria developing framework to mobilise revenue from non-oil sector

The Federal Government has indicated its resolve to ensure the nation’s tax system reflects the commercial activity levels in in the country. In order to achieve this, the government expressed its commitment to the process of mobilising revenue from the non-oil sector. In a keynote address at the opening ceremony of the 18th annual tax conference of the Chartered Institute of Taxation of ...

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FRSC to educate motorists on tyres

Following series of road crashes in Nigeria resulting from tyre blow-outs, the Federal Road Safety Corps (FRSC) is organising a stakeholders’ forum on tyres where issues relating with the use and safety of tyres are to be discussed. The FRSC’s Head of Media Relations and Strategy, Bisi Kazeem, in a statement said that the summit is aimed at re-educating Nigerians ...

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FRSC canvasses use of rear seat safety belts

The Federal Road Safety Corps (FRSC) has disclosed that top on its agenda for this year is the mandatory enforcement of speed limit device and use of the rear seat safety belt. Corp Marshal, Mr. Boboye Oyeyemi, who made the disclosure at the sector headquarters in Lagos on Friday at a session with members of Guild of Corporate Online Publishers ...

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PETAN rebrands, commends Shell’s role in Nigerian content

The Petroleum Technology Association of Nigeria (PETAN), an association of indigenous service companies, has commended the pioneering role of Shell in the development of Nigerian content in the oil industry. “Most of us have our roots here,” said the Chairman of the association, Bank Anthony Okoroafor, as he led a team on a courtesy visit to the Managing Director of Shell ...

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USAID promotes investment opportunities on Nigerian trade route

The need for Nigeria to eliminate impediments to trade facilitation on major highways was the plea by stakeholders at the Road Governance Caravan organised by the United States Agency for International Development in Nigeria (USAID NIGERIA) for states on the Lagos-Kano-Jibiya (LAKAJI) Corridor. Development of LAKAJI Corridor as a multimodal major trade route in Nigeria is an initiative of USAID ...

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Issuing bonds, revamping economy
Minister of Finance, Mrs. Kemi Adeosun

The oil price crash hit Nigeria hard. The country’s revenue fell, affecting the funding of critical infrastructure. The Debt Management Office (DMO) has risen to the challenge, issuing bonds to fund such projects in the 2016 budget. Will local investors take a cue from DMO? COLLINS NWEZE writes. For Nigeria, the worst era seems over. That was last January when ...

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