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FG, World Bank begin process to rebase Nigeria’s GDP

FG, World Bank begin process to rebase Nigeria’s GDP

The Federal Government in collaboration with the World Bank have commenced the process to rebase Nigeria’s Gross Domestic Product. Experts describe GDP as the final value of the goods and services that are produced within a nation’s geographic boundaries during a specified period of time, normally within a year. The growth rate of nation’s GDP...

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Stocks shed N20bn as insurance firms lead losers

Stocks shed N20bn as insurance firms lead losers

Investors lost N20bn on Wednesday as the nation’s stock market extended its decline to the third consecutive trading session amid profit-taking. Five insurance stocks were among the top six losers at the end of trading on Wednesday. The market had on Monday started the month on a negative note, ending a five-day gaining streak. The...

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NCDC, NCC Announce Short Code For Verified Information On COVID-19

NCDC, NCC Announce Short Code For Verified Information On COVID-19

The Nigeria Centre for Disease Control (NCDC) has revealed that it has, in collaboration with the Nigerian Communications Commission (NCC), activated a short code – “6232” for verified information. NCDC said the number was introduced for the public to contact their Connect Centre and access verified information on COVID-19 and other infectious diseases. Dr Chikwe...

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9mobile, Globacom, Airtel fail quality tests in 20 states –NCC

9mobile, Globacom, Airtel fail quality tests in 20 states –NCC

9mobile and Globacom have failed to meet key performance indicators stipulated by the Nigerian Communications Commission, the latest report by the industry regulator has shown. According to the report obtained by our correspondent on Monday, the two mobile operators were unable to meet Key Performance Indicators in 19 states of the federation, while Airtel failed...

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COVID-19 test: FG may suspend UAE, Netherlands’ airlines

COVID-19 test: FG may suspend UAE, Netherlands’ airlines

The Federal Government on Monday threatened to suspend the operations of airlines from the United Arab Emirates and the Netherlands from operating into Nigeria. It said the operations of the carriers would be suspended if their countries insist that travellers from Nigeria must carry out an additional rapid test before leaving Nigeria for the two...

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NIN: Telcos, minister meet, turnout rise by 40%

It was learnt in Abuja on Monday that the ministerial task force on National Identity Number linkage with Subscriber Identification Module held a virtual meeting on Monday to assess the progress as the February 9 deadline draws near. The Chairman, Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, confirmed that the Minister of Communications...

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Aviation operators fear travel ban as FG mulls lockdown

Aviation operators fear travel ban as FG mulls lockdown

Aviation experts have warned against another lockdown, following the directives made by countries of the world announcing new international travel restrictions. With 26,106,365 active cases, 103,214,008 new infections and 2,231,158 deaths according to worldometer.info as of 11:48 am on Sunday, the scenario that led to the lockdown experienced in 2020 seems to be playing out...

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FG restructures commodities exchange, halts privatisation plans

FG restructures commodities exchange, halts privatisation plans

The Federal Government is repositioning the Nigerian Commodities Exchange into a commercially viable platform for delivering efficient pricing of Nigeria’s agric produce, among others. The government has also stopped the current plan to privatise the NCX, given the unfortunate arbitrage opportunities which it noticed in the private sector arrangement, which had become an obstacle in...

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Nigerians consumed N1.9tn petrol in 13 months, says NNPC

Nigerians consumed N1.9tn petrol in 13 months, says NNPC

The Nigerian National Petroleum Corporation on Thursday said its downstream subsidiary, the Petroleum Products Marketing Company, recorded a total of ₦158.04bn from the sale of white products in the month of October 2020. White products include petrol, kerosene and diesel, while the N158.04bn sales represent 92 per cent increase over the ₦80.15bn sales in September...