Environmental degradation: FG warns Anambra oil drilling firm

Executive-Secretary-Pension-Transitional-Arrangement-Directorate-Sharon-Ikeazor The Federal Government has warned that the exploration of hydrocarbon in reserves must be done in an environmentally sustainable and friendly manner. Minister of State for Environment, Sharon Ikeazor, gave the warning in her remarks at a stakeholders’ meeting on the Environmental Impact Assessment of the proposed Ameshi and …

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FG to Recommence Oil Exploration in Lake Chad Basin

The federal government last Wednesday said the crude oil exploration in the Lake Chad Basin will commence soon. The oil exploration in the area was suspended by the Nigerian Government in July 2017 after suspected members of Boko Haram sect attacked a team of geological engineers from the University of …

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FG Encouraged to Seek Ways of Improving Tax Revenues

The Group Head of Tax, Nestoil, Stanley Ezekobe, has advised the federal government to prioritise transaction-based taxes such as Value Added Tax (VAT). Ezekobe, who disclosed this recently at a virtual media roundtable organised by the Nestoil Group said while other forms of tax such as company income tax, are …

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Equity market down N70bn on low sentiment

The Nigerian bourse on Thursday closed lower to reverse the previous day’s gain as bears regained their grip following the sell-off that has persisted on the equities market. Market breadth closed positive as Transcorp lead 17 other losers to close the trading session on the negative. Consequently, the All-Share Index …

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AfDB, others postpone investment forum to 2021

 The Board of Directors of the African Development Bank Group and the Africa Investment Forum founding partners have approved the postponement of the 2020 Africa Investment Forum to 2021, due to the ongoing COVID-19 pandemic. The AfDB said in a statement on Wednesday that the annual three-day investment marketplace was …

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Rising debt servicing cost can impede growth – CBN

 The Central Bank of Nigeria has expressed concern over the rising cost of debt service being incurred by the Federal Government. The CBN, in its half-year 2020 economic report, said the trajectory of Federal Government’s debt further constrained fiscal policy during the period, as interest payment obligations amounted to N1.15tn …

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