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Nigeria To KickOff Currency Minting Deal With Gambia
The Central Bank Of Nigeria has agreed on a currency minting deal with the Central Bank of Gambia. CBN Governor, Mr Godwin Emefiele, agreed to the currency minting proposal from the Governor of the Central Bank of the Gambia, Mr Buah Saidy, who led a delegation to visit him on Tuesday, June 15. According to…
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Nigeria- China Debt Now Stands At $3.40 Billion
The Debt Management Office (DOC) has revealed the Buhari-led government has incurred a loan that totals $2.20 billion from the Chinese government since its inception in 2015. According to the statistics obtained from the DMO, Nigeria’s total debt from China as of June 30, 2015, stood at $1.38bn. However, the country’s debt portfolio from China…
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5 African Countries That Have Restricted Social Media In 2021
Africa is forming a niche for itself as a continent with zero tolerance for the freedom of expression the internet and social media affords its citizens. About 30 countries have blocked or heavily restricted social media access between 2015 – 2021, especially during elections, protests, demonstrations, or examinations. In 2021 alone, 5 African countries have…
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Nigeria Suffers Electricity Deficit, Clean Fuel, Others
The World Bank has said that Nigeria is among the three countries in the world with the largest electricity deficits in the world. The apex bank said during the last decade, a greater share of the global population gained access to electricity than ever before, however, the number of people without electricity in Sub-Saharan Africa…
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Nigeria To Sell Unused Power To 4 Countries
About four West African countries are in talks with Nigeria to sell unused electricity to them. The electricity would be sold through a planned $570 million Northcore Power Transmission Line. This was disclosed by the acting Managing Director of the Transmission Company of Nigeria (TCN) and Chairman, Executive Board of the West African Power Pool…
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AfDB: $10bn COVID-19 Fund Boosting Africa’s Recovery
The African Development Bank has said the intervention package of its $10 billion COVID-19 relief facility which has it began disbursing since the heat of the pandemic in 2020 is boosting the recovery of several African countries. The Vice President, Regional Development, Integration and Business Delivery Complex, Khaled Sherif, stated this at the bank’s pre-annual…
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Bandits Kill One, Abduct 10 In Nuhu Bamalli Polytechnic
One student has been reportedly killed and 10 others kidnapped after armed bandits attacked the Nuhu Bamalli Polytechnic, Zaria in Kaduna state on Thursday. The bandits attacked the school located along the Kaduna- Zaria road last night, shooting and killing one student on the spot and leaving several others injured. In a statement issued by…
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FG Spends N3.8 Billion On Four Vandalized Bridges
The Federal Government of Nigeria has revealed it spent N3.8 billion to repair four bridges damaged by vandals and petrol laden tankers. Babatunde Fashola, the Minister of Works and Housing, disclosed this on Monday in Abuja at a Town Hall Meeting on Protection of Public Infrastructure. The minister who was a panellist at the meeting…
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OPEC Members Loses $1tr in Revenue In Two Years
Members of the Organization of the Petroleum Exporting Countries, including Nigeria, lost about $1trillion in revenue due to the plunge in oil prices in 2015 and 2016. OPEC’s Secretary-General, Sanusi Barkindo, who disclosed this at the 2021 Nigeria International Petroleum Summit said oil sector investments during the period crashed by $300billion. “In terms of foregone…
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38 Million Nigerian Adults Financially Excluded
A survey has reported that 36 percent of Nigerian adults, or 38 million adults, remained completely financially excluded at the end of 2020. According to a new report by Enhancing Financial Innovation & Access, titled ‘New data from EFInA’, said financial inclusion grew, adding that there was a need for more action. Part of the…