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Nigeria’s GDP Growth Slows To 2.25% In Q3 2022 – NBS

The National Bureau of Statistics (NBS) on Thursday reported that Nigeria’s Gross Domestic Product (GDP) grew by 2.25% (year-on-year) in real terms in the third quarter of 2022, representing 1.78% points decrease from the 4.03% growth rate recorded in Q3 2021 The Q3 GDP growth rate reflected a 1.29% points decline relative to 3.54% growth […]

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NCC Assures Public On Transparency Of 3.5GHZ Spectrum Auction

The Nigerian Communications Commission (NCC) has promised the investing public of its commitment to ensuring transparency and due process in the upcoming auction of two (2) lots of 3.5GHZ Spectrum aimed at improving telecommunication services in the country. The commission made this pledge in a Public Notice issued by its Director, Public Affairs, Reuben Muoka, […]

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BPP To Sanction MDAs Over Violation Of Standard Bidding Guidelines …..Seeks Public Input To Draft Bidding Documents

    The Federal Government has threatened that effective from 2023,  Ministries, Departments and Agencies (MDAs) that failed to adopt the reviewed Standard Bidding documents would be sanctioned. Director General of the Bureau of Public Procurement (BPP), Dr. Mamman Ahmadu, who made this disclosure at a stakeholders’ Workshop on the Review of Draft Standard Bidding […]

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World Bank Rates Nigeria’s Public Expenditure Among Lowest Globally, Proffers Solutions

The World Bank Group has rated Nigeria’s fiscal system, in terms of revenue generation and inefficient use of resources, among the lowest globally and canvassed the need for the Nigerian governments to embark on macroeconomic and fiscal reforms to lift Nigeria’s development outcomes. The Washington D. C-based development finance institution’s latest position on the nation’s […]

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DMO Offers N100Bn “Ijarah Sukuk” Bonds To Fund Road Construction

The Debt Management Office (DMO) on Monday offered N100 billion “Ijarah Sukuk’’ bonds for subscription at N1,000 per unit on behalf of the Federal Government. It stated that the offer, which opened the same day it made the announcement, is of 10-year tenor due for maturity in December 2032 and the bonds were issued by […]

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TotalEnergies Plans Oil Exploration Offshore South Africa

TotalEnergies SE is planning to explore for oil offshore South Africa’s West Coast, where environmental groups have increasingly opposed such activity. The French explorer proposes to drill one well, which could result in an additional nine wells depending on the success of the first, SLR Consulting Ltd., which is doing the environmental assessment, said on […]

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Pantami To Flag-Off Broadband Projects’ Initiatives, Present Book

Minister of Communications and Digital Economy, Prof. Isa Pantami, will this Thursday serve as chairman of the forum for the commencement of broadband initiatives to be implemented by the Nigerian Communications Commission (NCC). The projects are designed to accelerate broadband penetration in Nigeria and advance the course of digital economy projections for the nation. A […]

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3.5GHz Spectrum Auction: NCC Announces Publication of Final Information Memorandum

The Nigerian Communications Commission (NCC) has announced the adoption and publication of the final version of the Information Memorandum (IM) to guide the upcoming auction of the remaining lots of the 3.5 gigahertz (GHz) Spectrum for the deployment of Fifth Generation (5G) services in Nigeria. Before now, the Commission had published a daft IM and […]

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NCC Lauds Ondo Govt’s Broadband Plan, Urges Others On Initiative

The Nigerian Communications Commission (NCC) has commended the Ondo State Government for its move to deploy broadband infrastructure through the Odua Infraco and charged other states to invest in such critical telecom facilities in the collective efforts to deepen broadband penetration in the country. The NCC’s management gave the commendation when a delegation of Ondo […]

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Capital Market Crucial To Nigeria’s Economic Recovery – Amosun

The Chairman of the Senate Committee on Capital Market, Senator Ibikunle Amosun, has described the nation’s capital market as crucial to current efforts to grow the economy in view of its strategic position in raising capital for bridging the widening infrastructure gap. Amosun made this remark during the budget defense by the Securities and Exchange Commission (SEC) […]