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Aug 28, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Rahma Oladosu
The Set Top Box Manufacturers Association of Nigeria (STBMAN) has voiced its concerns about the direction of Nigeria’s Digital Switch Over (DSO) project and attributed the delays to corruption or incompetence within the relevant agencies. The National Broadcasting Commission’s (NBC) recent N10 billion grant has renewed interest in Nigeria’s long and troubled journey to digital switchover (DSO) in broadcasting.
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Aug 28, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Rahma Oladosu
The International Monetary Fund (IMF) is advising the Federal Government of Nigeria to sustain its ongoing economic reforms for the country to get better and achieve the desired economic growth that will lift the majority of citizens out of poverty. The multilateral institution also urged the federal government to address governance and business regulation bottlenecks to grow the economy at five to eight percentage points annually.
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Aug 28, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Rahma Oladosu
In addition to the known threats of terrorism, insurgency, banditry, illegal mining, and farmer/herder conflict, Lt. General Taoreed Lagbaja raised the alarm over a new set of security challenges in Nigeria. Lagbaja spoke at the Chief of Army Staff Combined Second and Third Quarter Conference 2024 on Tuesday, going on in Uyo, the Akwa Ibom State capital. The alarm came as Chief of Defence Staff (CDS), Gen.
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Aug 27, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Rahma Oladosu
The National Bureau of Statistics (NBS) said domestic air fare rose by 25 percent year-on-year (YoY) to N98,561.74 in July 2024 from N78.775.74 in July 2023. The bureau disclosed in its Transport fare watch report for July 2024. NBS said: “In air travel, the average fare paid by air passengers for specified routes single journey was N98,561.74 in July 2024, showing an increase of 9.65 percent compared to previous month (June 2024).
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Aug 27, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Rahma Oladosu
The Asset Management and Corporation of Nigeria (AMCON) has said Arik and Aero Contractors airlines may be merged and converted to a national carrier. The AMCON Managing Director/Chief Executive Officer, Gbenga Alade, stated this on Monday at an interactive session with media executives in Lagos. According to Alade, both Arik and Aero Contractor are owing so much money that they may not be able to pay.
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Aug 27, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Rahma Oladosu
The Rural Electrification Agency (REA) yesterday said it has completed N28.7 billion projects out of its N31.7 billion allocation in 2023. Its Acting Managing Director, Engr. Abba Aliyu said this during the presentation of REA 2023 Capital Project Implementation Report in Abuja. He said: “In total, out of the 2023 capital implementation we have completed a project of over N28.7 billion.
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Aug 27, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Gidado Yushau Shuaib |Rahma Oladosu
An Agriculturist, Amb. Oluwasegun Alabi, has disclosed that the country loses N50 million daily to importation of pineapples despite producing about 1,607,200 metric tons per annum, placing the country as the eight largest producers of the crop in the world.
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Aug 27, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Gidado Yushau Shuaib |Rahma Oladosu
A report by BudgIT, an accountability firm, has revealed that the Federal Government spent three times its revenue in 2023, resulting in a deficit of N13.50tn. In its analysis of the 2023 fiscal accounts from the Office of the Accountant-General of the Federation, BudgIT stated that the government’s revenue last year was N5.99tn, while it spent N19.50tn, exceeding its income by 225 per cent.
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Aug 27, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Gidado Yushau Shuaib |Shuaib Agaka
Many filling stations operated by independent oil marketers have now fixed the pump prices of Premium Motor Spirit, popularly called petrol, at between N900 and N1,000/litre. Owners of these stations seem not to care about the cost of the product at retail outlets operated by the Nigerian National Petroleum Company. Petrol prices at NNPC stations range from N568 to N617/litre. This often leads to queues at the stations.
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Aug 26, 2024 | 
economicconfidential.com | NBS Says |Salisu Na'inna Dambatta |Gidado Yushau Shuaib |Shuaib Agaka
The Nigerian National Petroleum Company Limited (NNPCL) has commenced shipment of Liquefied Natural Gas cargoes to Japan and China on a Delivered Ex-Ship basis. It said the move was in line with its strategic vision to be a dynamic and reliable global energy supplier of choice. The company’s spokesperson, Olufemi Soneye, said in a statement issued on Monday that NNPC achieved the milestone through the collaboration of two of its downstream subsidiaries.
