Hope for workers as FG sets up panel on N56,000 minimum wage demands

After the Minister of Labour and Employment, Chris Ngige, received boos of during the Workers Day celebration on May 1, the Federal Government has approved a 29-member tripartite committee to study the new minimum wage of N56,000 being clamoured for by Nigerian workers. This was made known to State House Correspondents on Wednesday by Ngige,…

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Prices jump as OPEC beats deal target — hits 102% conformity

Oil prices jumped to $54 per barrel early Thursday as the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) reported that the oil deal struck in 2016 hit a 102 percent conformity The post Prices jump as OPEC beats deal target — hits 102% conformity appeared first on TheCable. This is News is from The Cable

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NSE LIVE! Equities rally gathers momentum with N67bn gain

Nigerian equities continued on the uptrend on Wednesday as increased demand for large-cap stocks drove the market to second consecutive gain. Benchmark indices at the Nigerian Stock Exchange (NSE) indicated average day-on-day gain of 0.69 per cent, equivalent to a net capital gain of N67 billion. With 27 gainers to 19 losers, the positive market…

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Okonjo-Iweala: You can’t achieve growth, development if you have forex distortions

Ngozi Okonjo-Iweala, former minister of finance, says growth and development cannot be achieved when a country has distortions in its foreign exchange rates. Speaking at the launch of a book The post Okonjo-Iweala: You can’t achieve growth, development if you have forex distortions appeared first on TheCable. This is News is from The Cable

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How Lagos erased Fashola’s legacy by terminating N844bn Fourth Mainland Bridge contract

With Lagos State terminating the N844bn Fourth Mainland Bridge contract, the last and main legacy of the immediate past governor of the state, Babatunde Fashola, seemed to have been erased. Announcing the termination of the project on Monday, Commissioner for Waterfront and Infrastructure Development, Adebowale Akinsanya, disclosed that the bridge contract was being cancelled to…

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BOKO HARAM: 4.7m Nigerians at risk of starving to death -UN

A disturbing scenario has been created, indicating that Nigeria needs a minimum of $250 million food aid in 2017 to save about 4.7 million of its citizens, particularly from the northeast of the country, who starving to death. The Director of the World Food Programme (WFP) Abdou Dieng, an affiliation of the United Nations (UN…

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To prevent extinction, convert lower naira notes to coins, Senate tells CBN

The Nigerian senate on Tuesday asked the Central Bank of Nigeria (CBN) to convert lower naira notes into  coins to cater to highly repetitive transactions in the economy. This was The post To prevent extinction, convert lower naira notes to coins, Senate tells CBN appeared first on TheCable. This is News is from The Cable

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Emefiele: I’m confident Nigeria will be out of recession by Sept

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says he remains confident that the economy will be out of recession by the end of the third quarter of The post Emefiele: I’m confident Nigeria will be out of recession by Sept appeared first on TheCable. This is News is from The Cable

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NSE LIVE! Equities in marginal recovery with N5bn gain

Nigerian equities regained their uptrend on Tuesday as investors continued bargain-hunting for value stocks. After breaking a four-day consecutive rally with a loss of N12 billion on Monday, the Nigerian equities rallied back on Tuesday with a modest gain of N5 billion. The overall market situation remained broadly positive with 23 gainers to 18 losers….

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Federal, state and local government share N415.730b in May

The federal, state and local government areas have‎ shared N415.730 billion for the month of May, the Accountant General, Ahmed Idris had disclosed. Giving the breakdown, the AGF stated have‎ N177,000 billion was realized from mineral, while non mineral revenue was N96,410billion. According to him, net statutory allocation was shared according to the sharing formular…

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GDP figures show Nigerian economy maintains path to recovery in Q1 2017

The 2017 first quarter Gross Domestic Product (q1 2017 GDP) figures released by the National Bureau of Statistics on Tuesday showed that Nigeria’s economy is emerging slowly out of recession. The figure which showed that growth has continued in agriculture also indicated that a notable positive turnaround has now been recorded in manufacturing and non-oil…

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We Are Biafran-Nigerians, We Are Not In The Clay Pot Business

In Creative Evolution, Henri Bergson (1859-1941) expressed the opinion that the attempt to understand the self by analyzing it in terms of static concepts must fail to reveal the dynamic changing character of the self. His view is that instinct is limited in that although it grasps the fluid nature of living things, it is……

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MPC again refuses to reduce interest rate, retains it at 14%

Again, expectations of experts that Nigeria’s benchmark interest rate would drastically come down has been dashed, as the CBN-led Monetary Policy Commiittee (MPC) rose from its Tuesday’s meeting for the month of May 2017, retaining a double digit figure for the rate of borrowing money from banks. The CBN Governor, Godwin Emefiele told journalists, after…

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Again, CBN MPC holds interest rates at record high to maintain naira gain

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) decided to hold key interest rate at record 14 percent, while seeking convergence in foreign exchange market. Godwin The post Again, CBN MPC holds interest rates at record high to maintain naira gain appeared first on TheCable. This is News is from The…

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BREAKING: GDP contracts again but Nigeria inches closer out of recession

The Nigerian economy remains in its worst recession in 29 years! The National Bureau Statistics confirmed this on Tuesday, as it released the gross domestic product (GDP) report for the The post BREAKING: GDP contracts again but Nigeria inches closer out of recession appeared first on TheCable. This is News is from The Cable

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