Nigerian Newspaper: BusinessDay Headlines Today , Thursday 25 October, 2018.

Nigerian Newspaper: BusinessDay Headlines Today , Thursday 25 October, 2018.

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FG to spend N8.73t in 2019, targets 3.01% economic growth
Thu, 25 Oct 2018
The Federal Executive Council (FEC), Wednesday approved a total of N8.73 trillion budget for 2019, about N400 billion lower than the N9.2 trillion approved for 2018 This is just as FEC also approved the 2019 to 2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Minister of Budget and National Planning, Udoma Udo…
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BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

MTN, CBN near truce on US$8.1 billion refund
Thu, 25 Oct 2018
MTN Nigeria and the Central Bank of Nigeria (CBN) are close to reaching an amicable settlement over the refund of US$8.1 billion in illegally repatriated dividends. Sources close to both the CBN and MTN have told BusinessDay that results of a meeting held October 9 between both parties were positive, despite the fact that the…
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Nigeria’s private sector has no capacity to fund infrastructure
Thu, 25 Oct 2018
Nigeria’s private sector has no capacity to fund big ticket infrastructure projects in the country, Babatunde Fashola Minister of Power, Works and Housing, said at a session on infrastructure at the Nigeria Economic Summit. This is despite the belief by experts that government needs to create mechanisms that allow private investment inflows to close the…
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Aliko Dangote named 6th Most Charitable Person in the world
Thu, 25 Oct 2018
The philanthropist attitude of Aliko Dangote, President of Dangote group was recognized and highlighted by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom, on Wednesday as the richest man in Africa was named as the sixth most charitable man in the World. Dangote recently endowed his foundation…
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PIGB, 13 other critical bills at risk as National Assembly goes on recess again
Thu, 25 Oct 2018
After resuming from an 11-week recess on October 9, the National Assembly announced yesterday that it is embarking on another two-week suspension of plenary that could disrupt the passage of the much-awaited Petroleum Industry Governance Bill (PIGB) and 13 other critical bills rejected by President Muhammadu Buhari. Senate President Bukola Saraki made the announcement of…
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Ex-Afren executives found guilty in US$300 million oil business deal
Thu, 25 Oct 2018
A London jury at Southwark Crown Court on Wednesday found two former executives of collapsed oil and gas firm, Afren plc, guilty of fraud and money laundering, after a three-year investigation by the United Kingdom Serious Fraud Office. Ex-Chief Executive Officer, Osman Shahenshah and former head of operations, Shahid Ullah, were found guilty of fraud…
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Oil production from Nigeria, Iraq, Libya could reshape global oil market ‘ analysts
Thu, 25 Oct 2018
Nigeria, Iraq and Libya looks set to dictate the direction of global oil prices as capacity decline is expected from Iran following US sanctions billed to kick in on November 4 and as Saudi Arabia continues to battle the fallouts from the killing of Washinton Post Columnist Jamal Kashoggi. A crude oil loading programme seen…
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Cadbury Plc rebounds to profit on a 10.6% increase in revenue
Thu, 25 Oct 2018
Cadbury Nigeria’s 9-month unaudited financial statement appears to have put the firm on the part of profitability after swimming in loss within the same period the previous year. The consumer goods firm reported a Profit after Tax (PAT) of N172 million in its 2018 9 month scorecard compared to the loss of N64m it incurred…
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Nigeria faces missed opportunity as demand for plastics rises
Thu, 25 Oct 2018
Despite being Africa’s largest crude producer, Nigeria has become the biggest market for import of plastics in primary form as petrochemicals set to drive oil demand. Petrochemicals are components derived from oil and gas that are used in daily products such as plastics, fertilizers, packaging, clothing, digital devices, medical equipment, detergents and tyres. They are…
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