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Economy

VAIDS: FG Deploys Over 1,700 CTLOs to 33 States – Adeosun

The Honourable Minister of Finance, Mrs. Kemi Adeosun, addressing lawyers, accountants and other professional advisers during the workshop organised by the Federal Ministry of Finance, Federal Inland Revenue Service and Joint Tax Board for the advisers on Voluntary Assets and Income Declaration Scheme (VAIDS), held at the weekend at the ...

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Fitch Affirms South Africa at ‘BB+’; Outlook Stable

Fitch Ratings has affirmed South Africa’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB+’ with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS South Africa’s ratings are weighed down by low trend growth, sizeable government debt and ...

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Higher Crude Oil Production Propels GDP Growth; Real GDP Expands 1.40% Year-on-Year

    According to data released by the National Bureau of Statistics (NBS), growth strengthened in the domestic economy in the three months to September, with real GDP growth of 1.40% y/y (Q2-16: -2.34% y/y; Q2-17: +0.72 y/y, revised from 0.55% y/y) during the period, heralding the second consecutive expansion ...

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Nigeria floats US$3bn dual-tranche bond

  …Announces pricing of US$1.5bn 10-year; US$1.5 billion 30-year notes under its Global Medium Term Note programme     The Federal Government on Monday announced that it has priced its offering of US$3 billion aggregate principal amount of dual series notes under its US$4.5 billion Global Medium Term Note programme ...

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Presidency Welcomes Latest GDP

  *Nigerian Economy Continues to Improve Steadily with Rise in Q3 Figures   In a clear indication of ongoing progress, the Nigerian economy has improved further, according to the latest GDP figures just released by the National Bureau of Statistics, with oil, agriculture and industrial sectors leading the charge. The ...

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Nigeria’s Inflation Records Ninth Consecutive Deceleration in 2017, Eases 15.91% in October

According to the National Bureau of Statistics (NBS), Nigeria’s headline consumer price index has recorded its ninth consecutive deceleration this year. Headline inflation was 15.91% in October, 7 bps down from 15.98% in September, 7 bps higher than Bloomberg’s compiled mean estimate of 15.84%, and 13 bps higher than our ...

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Hydrographic society seeks NPA, NIMASA support for professional capacity building

The Nigerian Hydrographic Society (NHS) has sought the support of key maritime parastals including the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA) to drive its professional training programmes for hydrographers. The NPA Hydrographer General of the NPA, Mr. Olumide Omotoso, who is also the ...

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“Second best time to industrialize Nigeria is now”

Given the trend in the global economy and recent developments in Nigeria, now is the second-best time to industrialize the country, having lost the chance to do so some decades ago, according to Vice President Osinbajo, SAN. Prof. Osinbajo who spoke at the ground-breaking ceremony of the Benin Industrial Park ...

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Moody’s downgrades Nigeria’s sovereign issuer rating to B2 with a stable outlook

MOODY’S Investors Service has today downgraded the Government of Nigeria’s long-term issuer and senior unsecured debt rating to B2 from B1 and the senior unsecured MTN program rating and the provisional senior unsecured debt rating to (P)B2 from (P)B1. The rating outlook remains stable. The key drivers are as follows: ...

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Elumelu at Presidential Villa, implores investors on Nigeria’s business ranking

Foremost industrialist and entrepreneur, Tony Elumelu, on Monday urged Nigerian and foreign investors to take advantage of the World Bank’s Ease of Doing Business ranking of Nigeria to invest in the country. Speaking with Journalists after a visit to the Presidential villa, Elumelu said there is so much private global ...

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