The Federal Government says it is making plans with foreign experts to train some Nigerians in the art of Gold Jewellery making. Mr Olamilekan Adegbite, Minister of Mines and Steel Development, made this known while briefing newsmen on the recently launched Presidential Artisanal Gold Mining Development Initiative (PAGMI) on Tuesday in Abuja. PAGMI is a Read More…
Business
Bureau De Change Chief provides answer to fall of the Naira
The Association of Bureau De Change Operators of Nigeria (ABCON) has said that the reopening of the BDC window for foreign exchange, among others, would crash the prevailing spike in the exchange rate. Alhaji Aminu Gwadabe, President, ABCON, said this while speaking to the News Agency of Nigeria (NAN) on Sunday in Lagos. “The immediate Read More…
NSE market capitalisation up by N177bn on Dangote Cement gain
Picture above credit: A Dangote Cement Plc logo stands on a barrier at the under-construction Dangote Industries Ltd. oil refinery and fertilizer plant site in the Ibeju Lekki district, outside of Lagos, Nigeria, on Thursday, July 5, 2018. The $10 billion refinery, set to be one of the worlds largest and process 650,000 barrels of Read More…
FIRS clarifies stamp duty rates, others
Picture above credit: The Marina Stretch in Lagos island has some of the tallest buildings in Nigeria, one of which is the Union Bank building shown in the photo. Photography: Bobby Azuka-Okocha/9mobile The Federal Inland Revenue Service (FIRS) has published detailed information to guide taxpayers and the general public on rates payable as stamp duty. Read More…
NSE sustains negative sentiment, ASI down 0.39%
Picture above credit: Aerial photo of Lagos Island Nigeria, Nigeria’s commercial hub. Photograph: Tayvay/Shutterstock.com Activities on the Nigerian Stock Exchange (NSE) on Tuesday maintained negative sentiment, with the All-Share Index (ASI) declining further by 0.39 per cent. Specifically, ASI, which opened at 24,269.58, dipped 95.13 points to close at 24,174.45. Similarly, the market capitalisation shed Read More…
Senate says no plan to reverse privatisation of power sector
Sen. Gabriel Suswan, the Chairman Senate Committee on Power says the senate has no plans to reverse the privatisation of the power sector. Suswan made this known in Abuja during the committee’s oversight visit to some government structures being occupied by the Abuja Electricity Distribution Company (AEDC). According to him, the senate is not pushing Read More…
NSE market indices down 0.07%, as MPC retains policy rates
The Nigerian Stock Exchange (NSE) opened the week on Monday with a loss of 0.07 per cent, just as the Monetary Policy Committee (MPC) retained key policy variables. The MPC committee members at the end of the one-day virtual policy meeting retained all policy parameters. They maintained the Monetary Policy Rate (MPR) at 12.5 per Read More…
MPC retains MPR at 12.5%, holds other policy parameters constant
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has retained Monetary Policy Rate (MPR) at 12.5 per cent and held all other policy parameters constant. The CBN Governor, Mr Godwin Emefiele disclosed this while reading the communique after the MPC meeting in Abuja on Monday. Emefiele explained that the committee retained Read More…
2020 Nigeria Mining Week to hold virtually in October
Picture above credit: Muscle and mud: Nigeria has an estimated 500,000 artisanal gold miners ©Tom Saater/FT The 2020 Nigeria Mining Week will hold virtually in October following the outbreak of Coronavirus pandemic, Minister of Mines and Steel Development, Mr Olamilekan Adegbite, has said. Adegbite, who disclosed this in Abuja at the News Agency of Nigeria Read More…
Nigeria’s inflation rate hits 12.56%
The National Bureau of Statistics (NBS) says Consumer Price Index, (CPI) which measures inflation increased to 12.56 per cent year-on-year in June 2020. The NBS made this known in its CPI and Inflation Report for June released on Friday. It stated that the report showed that June inflation was 0.16 per cent points higher than Read More…