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Bank Of Industry To Support MSMEs With $1Bn

The Bank of Industry (BoI), under the auspices of Federal Ministry of Industry, Trade and Investment in conjunction with international partners, has concluded a $1 billion syndicated term loan deal to support Small and Medium Scale Enterprises (MSMEs) in the country. The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, gave this hint at […]

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Okonjo-Iweala Tasks Nigerian Govt On Alternatives To Fossil Fuels

The new Director General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has met with President Muhammadu Buhari at the Presidential Villa, Abuja and tasked the government to consider policy initiatives that will encourage the private sector to invest in latest technologies that will minimize fossil fuels consumption as the only source of automobile […]

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LCCI Advocates Dispute Resolution Framework Between Customs, OPS

The Lagos Chamber of Commerce and Industry (LCCI) on Sunday canvassed the need for the Federal Government to create an independent dispute resolution framework to manage conflicts between the Nigeria Customs Service (NCS) and the business community. The Director-General of LCCI, Dr Muda Yusuf, in a statement maintained that the presidential intervention had become inevitable, […]

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FG Apologises Over PPPRA’s Fuel Price Template Saga

The Federal Government has apologized to Nigerians over the confusion triggered by the latest petrol price template of N212.6 per litre released on Thursday by the Petroleum Products Pricing Regulatory Agency (PPPRA). The Minister of State for Petroleum Resources, Mr. Timipreye Sylva, who tendered the government’ss apology, explained that template was a mix-up and urged […]

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Nigeria Records -N7.37Trn Merchandise Trade Deficit In 2020

Nigeria’s total merchandise trade deficit last year worsened remarkably increasing to -N7. 37 trillion, as the COVID-19 pandemic negatively impacted across the broad spectrum of the economy, particularly the real sector. The latest ‘Foreign Trade in Goods Statistics (Q4 2020)’ report by the National Bureau of Statistics (NBS), indicated in the year under review, Nigeria’s […]

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FG Suspends Grants To Youths, Opt For Loans

The Minister of Youth and Sports Development, Mr. Sunday Dare, has disclosed that the Federal Government has stopped giving grants to youths but rather has now opted for revolving loans to aid their entrepreneurial and creative ventures. The minister gave this hint at the end of a 2-Day workshop titled ‘Challenges and opportunities for rural […]

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ECOWAS Bank, Franco-German Group Seal €40m Pact To Support SMEs

The ECOWAS Bank for Investment and Development (EBID) has signed a €40 million framework agreement with the ODDO BHF Aktiengesellschaft, a Franco-German financial services group with a longstanding track record and expertise in trade financing, to support Small and Medium Enterprises’ (SMEs’) recovery in the West African sub-region. The agreement was signed by the President […]

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India Exits Recession, Economy Up 0.4% In Q4, 2020

India’s economy grew 0.4 per cent year-on-year in the final quarter of 2020, ending the country’s first recession since independence. The country’s exit from recessionary slide and modest recovery is partly linked to measures by the government which as eased coronavirus restrictions. A news report by AFP indicated that the country had struggled to claw […]

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U.S Entrepreneurs Oppose Biden’s Tax Hike Plan

President Joe Biden appears to be facing an uphill task in his administration’s efforts to hike tax as part of its fiscal drives to fund multitrillion-dollar infrastructure investments he promised to build in the coming months. The stand-off between the White House and corporate entities is rising as President strikes nearer to clinching congressional approval […]

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Nigeria Exits Recession, Records 0.11% GDP Growth In Q4, 2020

After two consecutive sluggish performances which plunged the economy into recession, Nigeria’s economy rebounded in the last quarter of 2020 with the Gross Domestic Product (GDP) growing by 0.11 percent year-on-year. The National Bureau of Statistics (NBS) reported the positive trend in its published on Thursday. The report stated: “Nigeria’s gross domestic product (GDP) grew […]