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Daily Archives: October 13, 2018

Nigeria, 7 African countries in debt distress –IMF

The International Monetary Fund (IMF) Thursday, listed Nigeria among eight African countries on its debt distressed category following the failure of their fiscal consolidation to positively impact the citizens.  Abebe Aemro Selassie, Director of the IMF’s African Department, who gave the hint at a briefing he jointly held with Nigeria’s Budget and Planning Minister, Senator Udoma Udo Udoma, on the sidelines of ... Read More »

Ports inefficiency undermining diversification drive – LCCI

The Lagos Chamber of Commerce and Industry (LCCI), says the adverse operating environment of the nation’s ports will continue to hinder Federal Government’s effort, to reduce its dependence on oil revenues for economic development. The LCCI President, Babatunde Ruwase, made the statement during the LCCI Freight Forwarders Group Annual Seminar on Thursday in Lagos at the LCCI’s corporate office, Victoria ... Read More »

Tax collection: Nigeria seeks IMF’s support

The Federal Government is seeking assistance from the International Monetary Fund (IMF) on modalities for improving tax collection, especially  from the International Oil Companies (IOCs), Finance Minister  Zainab Ahmed, has said. She told reporters  on the sidelines of the ongoing 2018 International Monetary Fund (IMF)/World Bank Group Meetings, in Bali, Indonesia, that government has to be in a position to develop tools  that ... Read More »

Mobile money: Telcos to reach 90m people by 2020

  Five Nigerian network operators have pledged to deploy over one million airtime agents for mobile money services in the country. The Global System for Mobile communication operators said they would leverage their mobile base, integrated identity systems and distribution network to offer financial services to Nigerians. During the inauguration of a financial inclusion committee made up of representatives of ... Read More »

Airline operators urged to invest in newer aircraft

Aviation experts have asked airline operators to invest more in new aircraft in order to reduce their operational costs. They noted that one of the problems of the country’s aviation industry was the use of the wrong type of aircraft for domestic operations. A former Managing Director of the defunct Virgin Nigeria, Capt Dapo Olumide, said airlines fail in the ... Read More »

Flooding: FG, EU support victims with N3bn, €1m

The Federal Government and the European Commission have mobilised N3bn and £1m (N400m) in support of flood victims across the country. The Head of the EU Delegation to Nigeria and ECOWAS, Ambassador Ketil Karlsen, said the €1m funding from the commission was to provide shelter, medicine and other basic items for an estimated 60,000 people in three of the nine ... Read More »