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Cement Prices Projected To Soar As Nigeria Embraces Concrete Roads

Cement Prices Projected to Soar as Nigeria Embraces Concrete Roads

The Cement Producers Association of Nigeria has raised concerns over the federal government’s ongoing plans to adopt concrete roads. They predict this will escalate the cement price from N5,000 to N9,000 per bag. The association has urged the administration to address the recurring cement price hike by promoting broader participation in the cement industry. They …

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Dana Motors To Launch Cng Vehicles In Nigeria By Year End

Dana Motors to Launch CNG Vehicles in Nigeria by Year-End

Dana Motors Limited, Nigeria’s exclusive distributor of Kia vehicles, has announced plans to introduce Compressed Natural Gas (CNG) vehicles by the end of the year. The company stated that this initiative is part of its mission to transform the Nigerian transportation sector. The CNG vehicles will be produced under the DFM brand at Dana Motors’ …

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Opsn Sounds Alarm Over National Assemblys Frequent Business Probes

OPSN Sounds Alarm Over National Assembly’s Frequent Business Probes

The Organised Private Sector in Nigeria (OPSN) warns that frequent invitations by National Assembly committees are harming businesses. Both foreign and local companies are closing operations due to this constant summons. OPSN represents various business associations in Nigeria. These include the Manufacturers Association of Nigeria and the Nigeria Association of Chambers of Commerce. The group …

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Nnpc Enforces Immediate Retirement For Staff Nearing End Of Tenure 1

NNPC Enforces Immediate Retirement for Staff Nearing End of Tenure

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has abruptly mandated the retirement of all managerial staff with less than 15 months remaining until their statutory retirement age. The announcement came early on a Tuesday morning, stating that the decision aligned with the company’s business goals. The oil firm communicated this through its official X …

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Bua Chairman To Cut Cement Prices After Meeting With President Tinubu

BUA Chairman to Cut Cement Prices After Meeting with President Tinubu

Abdul Samad Rabiu, the Chairman of BUA Cement Plc., has announced plans to reduce the cement price in Nigeria significantly. Currently priced at N5,500, the company aims to bring it down to between N3,000 and N3,500. Rabiu disclosed this information after a meeting with President Bola Tinubu at the State House in Abuja. The price …

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Sec Dg Highlights Identity Crisis As Unclaimed Dividends Soar To N190Bn

SEC DG Highlights Identity Crisis as Unclaimed Dividends Soar to N190bn

Lamido Yuguda, the Director-General of Nigeria’s Securities and Exchange Commission (SEC), recently addressed journalists. He discussed the alarming rise of unclaimed dividends to N190 billion. He attributes this financial issue to identity management problems in the capital market. Multiple subscriptions and name changes have complicated the issue further. The SEC is implementing reforms to tackle …

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Oando Seals Deal For Full Ownership Of Nigerian Agip Oil Company

Oando Seals Deal for Full Ownership of Nigerian Agip Oil Company

Oando Plc has confirmed an agreement with Eni to acquire a 100% stake in Nigerian Agip Oil Company Limited (NAOC Ltd). The deal is pending ministerial consent and other regulatory approvals, according to an official statement from Oando. This acquisition will double Oando’s current interests in oil mining leases (OMLs) 60, 61, 62, and 63 …

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Senate Plans Law Revision To Ease Cross Border Trade

Senate Plans Law Revision to Ease Cross-Border Trade

The Nigerian Senate is promising new laws to benefit border communities. These laws aim to simplify access to essential goods without unnecessary travel. The Senate Adhoc Committee on Customs and Excise recently discussed this. The meeting took place at the Seme-Krake border and involved various stakeholders. The committee expressed concerns about past policies. These policies …

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Fbn Holdings Appeals To Overturn Court Order Halting Annual Meeting

FBN Holdings Appeals to Overturn Court Order Halting Annual Meeting

FBN Holdings Plc has appealed to a Court of Appeal in Lagos to nullify a previous court order that halted its Annual General Meeting (AGM). The bank’s counsel filed the appeal, Mutalubi Adebayo, SAN, who argued that the lower court lacked jurisdiction to grant the ex-parte order. Justice Nicholas Oweibo of a Federal High Court …

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Cbn Ndpc To Review Controversial Banking Regulations

CBN, NDPC to Review Controversial Banking Regulations

The Central Bank of Nigeria (CBN) and the Nigeria Data Protection Commission (NDPC) are forming a joint committee. This move aims to review regulations requiring financial institutions to collect extensive customer data, including social media handles. Dr Vincent Olatunji, the National Commissioner of the NDPC, revealed this during a Data Privacy and Protection workshop in …

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