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Dangote ranks as 6th richest manufacturing billionaire in the world

2 mn read Africa’s richest man, Aliko Dangote, has ranked 6th on the list of the richest manufacturing billionaires in the world. Africa’s richest man, Aliko Dangote, has ranked 6th on the list of the richest manufacturing billionaires in the world. With a net worth of $14.3 billion, Dangote is the founder of Dangote Cement, the largest cement producer in sub-Saharan Africa. Dangote describes […]

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Quick and easy ways to download TikTok videos to your gallery with Ssstiktok

3 mn read Whether you’re a seasoned creator or an avid viewer, there might be times when you want to save videos to your phone’s gallery. While TikTok offers an in-app download option, there are often restrictions, such as not being able to download videos from private accounts or videos with certain music. To overcome these limitations and […]

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EFCC arrests speculators as Naira falls to 1,520/$

< 1 mn read Operatives of the Economic Financial Crimes Commission (EFCC) arrested Bureau De Change operators in Abuja, Lagos, Kano and Port Harcourt, as the Naira dropped to 1,520 on Tuesday. The naira weakened further at both the official and parallel foreign exchange markets. EFCC’s recent raid comes amid renewed efforts by the Federal Government to tackle the naira’s recent […]

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FG May Need Supplementary Budget To Pay Minimum Wage – IMF

2 mn read The Federal Government is contemplating a supplementary budget to accommodate a proposed increase in the minimum wage, as ongoing negotiations are likely to exceed the allocations in the 2024 fiscal plan, according to the International Monetary Fund (IMF). In its latest staff country report on Nigeria, the IMF mentioned, “The authorities noted that a supplementary budget […]

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Anambra: Fuel scarcity hinders economic activities in Onitsha

2 mn read The recent petrol scarcity has continued to hinder economic activities in Onitsha, the commercial hub of Anambra. he recent scarcity of petrol has continued to hinder economic activities in Onitsha, the commercial hub of Anambra. Before the current scarcity, some filling stations in the Onitsha metropolis dispensed fuel at N690 and N720 per litre. However, […]

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PIA to boost Nigeria’s oil bidding success, says PETAN

2 mn read Wole Ogunsanya, PETAN chairman, disclosed this at the just-concluded Offshore Technology Conference in Houston, Texas, U.S. The Petroleum Technology Association of Nigeria (PETAN) has predicted that the nation’s Petroleum Industry Act (PIA) will enhance the success of the 2024 oil bidding round. Wole Ogunsanya, PETAN chairman, disclosed this at the just-concluded Offshore Technology Conference in […]

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German chemical giant Bayer reports profit drop in Q1

< 1 mn read Net income at German pharmaceutical and chemical giant Bayer declined to €2 billion ($2.16 billion) or €2.04 per share in the first quarter. The company reported on Tuesday that the quarter’s revenue was also down from €2.18 billion or €2.22 per share in the same quarter last year. Bayer said core earnings per share from […]

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Business Concerns As Price Of Cooking Gas In Nigeria Surge By 55%

2 mn read The latest report from the National Bureau of Statistics (NBS) raises concerns after revealing that the average cost of refilling a 12.5-kilogram Cylinder of Liquefied Petroleum Gas, Cooking gas, increased by 55.22% to ₦15,929.04 in March from ₦10,262.56 in the same month last year. The price of cooking gas also rose by 5.77% month-on-month to […]

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If Not For Tinubu, Nigeria Would Have Gone Into Bankruptcy’

2 mn read President Bola Ahmed Tinubu The Nigerian ReNewed Hope Solidarity Movement (NRHSM) has asserted that the country would have faced bankruptcy without President Bola Ahmed Tinubu’s pragmatic policies and programmes. In a statement made available to journalists in Abuja by its National Coordinator, Tom Obulu, the group praised the incumbent administration’s efforts in combating and eliminating […]

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Glo EVC reveals plans to support FG’s push for digital economy

3 mn read Globacom has a learning management solution which can train up to 100,000 users each month. Executive Vice Chairman of Globacom, Mrs. Bella Disu (2ND right), with (l-r) Moderator, Kwame Senou; Chief Regulatory Officer, Airtel Africa, Daddy Mukadi; CEO of 9mobile, Juergen Peschel; Chairman, Association of Licensed Telecom Operators of Nigeria, Gbenga Adebayo, and CEO of […]

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Binance saga: Fresh twist as lawmaker linked with $140m bribe allegation reacts

2 mn read Hon Okafor highlighted his private sector background and long-standing membership in the Rotary International Club, underscoring his commitment to integrity and public service. Richard Teng and Hon Dominic Okafor [Getty Images/Facebook] Hon. Dominic Okafor, a member of the House of Representatives representing the Aguta Federal Constituency, refuted allegations of accepting $140 million in bribes from […]

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Cost of import clearance jumps by 23% amid currency fluctuations

2 mn read In the space of 16 days, the cost of clearing imports increased by 23% from ₦1,150.16/$ recorded on April 23, 2024, to ₦1,412.6/$ as of May 8, 2024. Cost of import clearance jumps by 23% [GFE Business] Nigerian manufacturers and importers have seen their import clearance fees increase by 23% as the country battles forex […]

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UK economy exits recession ahead of election

2 mn read UK economy exits recession ahead of election (FILES) A customer pays after buying some fruits and vegetables at a street market in High Wycombe, on August 15, 2023. – Britain exited a shallow recession with better-than-expected growth in the first quarter, official data showed on May 10, 2024, in a boost to embattled Prime Minister […]

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FGN offers ₦450 billion bonds for subscription at ₦1,000/unit

2 mn read All FGN bonds qualify as liquid assets for liquidity ratio calculation for banks. FGN Bonds [Noble Solutions] The Federal Government, through the Debt Management Office (DMO), has offered three FGN bonds valued at ₦150 billion each for subscription at ₦1,000 per unit. According to a release by the DMO, the first offer is the five-year […]

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OPay clarifies new CBN directive, reassures customers

< 1 mn read   OPay clarifies new CBN directive, reassures customers OPay remains committed to working closely with the Central Bank of Nigeria (CBN) and other regulatory bodies to fight money laundering, fraud, terrorism financing, and other illegal financial activities. As a regulatory-compliant institution, OPay follows the rules set by the CBN and other regulators to ensure the […]

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Nigerian government opens up on asking for $150 million bribe from Binance to end tax evasion charges

2 mn read The Federal Government (FG) has stated that the bribery against unidentified Nigerian government officials by Binance Chief Executive Officer Richard Teng is diversionary. The Minister of of Information and National Orientation, Alhaji-Mohammed Idris made this known in a statement issued by his media aide, Mr Rabiu Ibrahim on Wednesday in Abuja. Recall that on Tuesday […]

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Hardship: Over 31 Million Nigerians Will Face Severe Food Crisis From June – Report

2 mn read Hardship: Over 31 Million Nigerians Will Face Severe Food Crisis From June – Report   A troubling report from the International Rescue Committee (IRC) and its partners forecasts that approximately 16 per cent of Nigerians (32 million people) will grapple with severe food insecurity between June and August 2024. Naija  News reports that the study […]

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