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Recession: Nigeria remains investors destination– MAN

President Muhammadu Buhari and Vice President Yemi Osinbajo at the opening of a 2-day National Economic Council Retreat at the Statehouse Conference Centre on 21st March 2016.

The President of Manufacturers Association of Nigeria (MAN), Mr Frank Jacob, says in spite of the current economic recession in Nigeria, the country is still an attractive investor’s destination.

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Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele

CBN must review 41 items restricted from FX market – OPS

The Organised Private Sector, OPS, yesterday, insisted that the Central Bank of Nigeria, CBN, must review its policy on the 41 items restricted from official foreign exchange market.
According to the group, the decision is hurting the manufacturing sector in such a way that could no longer be ignored, having led to the closure of many companies and relocation of others from Nigeria to Ghana and other neighbouring countries. It has also led to the refusal to repatriate over $10 billion held offshore by Nigerian businesses.

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Gov Ambode

Basic facts about Lagos’ land use charge

The Lagos State Land Use Charge (LUC) is a consolidation of all property and land based rates and charges payable under Lands Rates, Neighborhood Improvement Charge and Tenement Rates Laws of Lagos State. The Land Use Charge derives its legitimacy from the Land Use Charge Law No. 11, of 2001. It was designed to help the government generate additional revenue needed to develop the state in the light of increasing demand for provision of urban and rural infrastructure and other expenditure.

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AG Leventis set to raise fresh fund, engages foreign investors

There are indications that AG Leventis Plc will soon raise fresh capital to boost its business and turn around its dwindling performance occasioned by the economic meltdown. The Executive Vice Chairman/ Chief Executive Officer AG Leventis, Michael Economakis confirmed to Vanguard that plans are underway for the company to inject fresh capital given the present low economic activities in the country.

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Mr. Lukman Otunuga

Naira vulnerable to further losses in future – FXTM

The global markets have been flung onto a chaotic rollercoaster ride in 2016 as the ongoing concerns over slowing global growth, depressed oil prices and persistent Brexit uncertainties have weighed heavily on investor sentiment. Stock markets started the year pressured, but have been surging higher on hopes of potential stimulus measures while risk aversion continues to keep Gold buoyed.

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Terminal operators lost N58.9bn in earnings in 10 years – Report

As the nation’s economic fortune continues to dwindle, Nigerian ports have recorded drops in the cargo throughput for the first quarter of this year, an indication that less volume of goods was imported into the country within the period. There are also, indications that the second quarter may record further drop in the ports’ activities. The drop in gross tonnage was also reflected in the revenue generation drive of the Nigeria Customs Service as the agency also suffered deficit of more than N100 billion for the first half of the year.

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