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CBN plans to strengthen Naira, economy through $15bn Dangote refinery

…As fertilizer plant comes on stream March By Udeme Akpan THE Central Bank of Nigeria, CBN, has concluded plans to strengthen the Naira, and by extension the nation’s economy through the $15 billion Dangote Refinery. Specifically, the CBN governor, Mr. Godwin Emefiele, who visited the Project at Ibeju Lekki, Lagos, weekend, said: “We have taken
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Stock investors lose N1.37tn in one month

 ’Femi Asu Investors in the Nigerian stock market recorded a total loss of N1.37tn in February as market capitalisation tumbled below N21tn amid profit-taking. Investors had gained over N1.13tn in January as the market capitalisation closed at N22.19tn from N21.06tn at the start of the month. The Nigerian Stock Exchange All-Share Index closed at 39,799.89 […] Read Full Story

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MTN Nigeria profit rises, revenue hits N1.35tn

MTN Nigeria Communications Plc has reported a profit before tax of N298.87bn for the 2020 financial year, up from N291.28bn in the previous year. The telecommunications company, in its audited financial statements filed with the Nigerian Stock Exchange, said its profit after tax rose to N205.21bn last year from N203.28bn in 2019. Its revenue increased […] Read Full Story

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NRC plans 16 trips along Lagos-Ibadan rail line

Joseph Olaoluwa The Nigeria Railway Corporation has put plans together to operate 16 trips daily along the Lagos-Ibadan rail when it is fully operational.  Managing Director of the NRC, Fidet Okhiria, said this to journalists during an inspection tour of ongoing railway projects along the standard gauge on Saturday. He said, “When we start fully, […] Read Full Story

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Nigeria begins documentation of onion exports

Adeniyi Olugbemi, Sokoto Towards achieving the Federal Government initiative on the diversification of the nation’s economy, Onion Producers and Marketers Association of Nigeria, has inaugurated documented onion exports through Illela land border in Sokoto State. The event inaugurated by Abdulrahameed Ma’aji, the Area Controller of Nigerian Customs Service in charge of Sokoto and Zamfara states, […] Read Full Story

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Govt moves against abuse, trading on highways

Nike Popoola The Federal Controller of Works in Ogun State, Mr Umar Bakare, has asked highway traders and beggars under bridges and along Lagos-Ibadan Expressway to immediately vacate the highway to save lives. He made the appeal during the grand finale of a two-day mass sensitisation exercise against road abuse and encroachment. Bakare who led […] Read Full Story

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Lagos begins construction of Ijeododo road

Nike Popoola The Lagos State Government has said it will commence the construction of Ijeododo road to connect two Local Council Development Areas, Igando-Ikotun and Iba Local Council Development Areas, to the 10-lane Lagos-Badagry Expressway. In a statement on Friday titled ‘LASG parleys with stakeholders as construction of Ijeododo road begins’, it disclosed this during […] Read Full Story