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#DailyChart: Despite Fuel Scarcity Locally, Nigeria Clinches Top Spot Among Oil Producers in Africa
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What To Know About Nigeria’s New Oil Deal With South Korea
Nigeria has finalized an agreement with South Korean-based company, Daewoo to rehabilitate the Kaduna refinery. According to an announcement by the Nigerian National Petroleum Company Limited has signed an agreement with Daewoo Group of South Korea for the rehabilitation of the Kaduna Refinery, the government said Thursday. A spokesperson for President Muhammadu Buhari said in a statement…
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Opinion Post: Will A Unified Currency Save Africa’s Economy?
East African Community (EAC) has proposed the idea of a unified currency for East Africa, an idea that has since gone beyond the planning stage. According to the Secretary-General of the EAC, Peter Mathuki, the community is in the process of harmonizing critical policies and putting in place the requisite institutions to attain a single…
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Britain Cracks Down On Nigerian Bank Over Money Laundering Failures
Britain has fined the UK subsidiary of Nigeria’s Guaranty Trust Bank 7.6 million pounds for what it says are more failures in the bank’s anti-money-laundering systems and procedures. The Financial Conduct Authority in a statement on Tuesday shared that “these deficiencies were frequently brought to GT Bank’s attention by internal and external sources, including the…
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Ghana Increases Salaries By 30 Percent Amid High Inflation Rates
In a joint statement, the Ghanaian government and trade unions have announced an agreement to raise all public employees’ pay by 30% starting in 2023 as the nation works to cut its debt and control skyrocketing inflation. A few months after hardship sparked street demonstrations in Accra that forced the government to request assistance from…
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Special Report: Ghana’s Bumpy Road To Economic Recovery
In the last month of 2022, Ghana’s cedi was reported as the best-performing currency in the world, signalling a significant recovery for the West African country that suffered severe economic downturns throughout 2022. According to a report by Bloomberg, the Cedi rose by 10% in December, the biggest advance among about 150 currencies tracked by…
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PVC Collection More Than An Online Trend? Let’s Look At The Numbers
As Nigeria gears up for what would seem to be one of the most interesting elections since the era of the ‘Change’ slogan that ushered in the APC administration, Nigeria’s population of young people have decided to push what many labelled “futile online trends” from just their smartphones to physical actions. The official vote collating…
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What To Know About Tanzania’s Proposed Bridge Project With China
Tanzania and China have recently finalized a partnership agreement to construct the last segment of the Standard Gauge Railway line connecting Tanzania to some of its neighbours. Intended to link the port of Dar es Salaam to Mwanza on Lake Victoria, then subsequently extend to Burundi, the Democratic Republic of Congo (DRC), Rwanda, and Uganda,…
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Here Is Why Charity Organizations Want The Rich To Be Taxed More
According to a report from the annual meeting of the World Economic Forum held in Davos, Switzerland, the world’s top 1 percent has grabbed nearly two-thirds of the $42 trillion in new wealth created since 2020. In the report by Oxfam titled “Survival of the Richest”, the share was almost twice as much money as what the…
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China Re-enforce Oil Trade Deal With Saudi Arabia In 2022
China has moved to deepen its relationship with OPEC+ heavyweight Saudi Arabia, the country’s top oil supplier for the past few years. The world’s biggest energy consumer and Saudi Arabia pledged to deepen their relationship in trade and economic cooperation through bilateral talks on Thursday, 9, December 2022. The two parties would explore common investment opportunities in…