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Foreign Investors Triple Asset Disposals in Nigeria, CBN Report Reveals
ByGovernMend Nigeria January 3, 2024January 3, 2024

Foreign direct investors have significantly increased their asset disposals in Nigeria, reaching a staggering $200 million, according to the Central Bank of Nigeria’s (CBN) economic report for the third quarter of 2023. This surge in divestment reflects a growing trend of multinational corporations withdrawing their business operations from the country. The report highlights a notable…

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Corporate Affairs | Economy | Governance | News

IPMAN Insists on N1,200/Litre Petrol Price Amid NNPC Denial
ByGovernMend Nigeria January 3, 2024January 3, 2024

The Nigerian National Petroleum Company Limited (NNPC Ltd) has refuted claims of a clash with petroleum marketers regarding the removal of petrol subsidies. In a statement released by Olufemi Soneye, the chief corporate communications officer of the company, NNPC Ltd clarified that there was no confrontation with petroleum marketers, particularly the Independent Petroleum Marketers Association…

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Governance | Matters Arising | News | Politics

CAN Urges President Tinubu to Tackle Corruption, Embrace Economic Diversification
ByGovernMend Nigeria January 3, 2024January 3, 2024

The Oyo State chapter of the Christian Association of Nigeria (CAN) has called on President Bola Tinubu to implement stricter measures against corruption across all sectors. Apostle Joshua Akinyemiju, the Chairman of CAN in Oyo State, emphasized the need for the government to diversify the economy by focusing on agriculture, ensuring a stable market system,…

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Economy | Governance | Matters Arising | News

NUPRC Sets Sights on Industry Revamp with Comprehensive Action Plan
ByGovernMend Nigeria January 3, 2024January 3, 2024

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced its action plan for 2024 and the near term of 2024 to 2026, outlining key regulatory measures to advance its mandate. Mr. Gbenga Komolafe, the Chief Executive of the Commission, revealed that the Regulatory Action Plan (RAP) is designed to enhance predictability, future licensing rounds policy…

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Governance | Matters Arising | News | Politics

National Assembly’s Allocation Draws Criticism Amidst Calls for Education Reform
ByGovernMend Nigeria January 3, 2024January 3, 2024

Federal lawmakers have significantly increased the budget of the National Assembly from the initial proposal of N197.93 billion by President Bola Ahmed Tinubu to N344.48 billion. This approved budget exceeds the combined budgets of the 15 largest federal universities in Nigeria, which total N327.8 billion for 2024. The disparity is notable as the National Assembly,…

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Economy | Governance | Matters Arising | News | Politics

Osoba Cites Empty Treasury Inherited by Tinubu’s Administration, Defends Borrowing Strategy
ByGovernMend Nigeria January 3, 2024January 3, 2024

Former Governor of Ogun State, Olusegun Osoba, has disclosed that President Bola Tinubu’s administration inherited an empty treasury when it assumed office, leading to a necessity for borrowing to meet financial obligations. Osoba made this revelation during an interview on Arise Television, where he highlighted the challenges faced by Tinubu’s government upon assuming leadership. He…

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Governance | Matters Arising | News

Mercy Corps Extends Gratitude to Nigerian Ministry of Foreign Affairs for Gaza Evacuation
ByGovernMend Nigeria January 3, 2024January 3, 2024

The international non-governmental organization (NGO) Mercy Corps has expressed its appreciation to the Ministry of Foreign Affairs for its role in facilitating the safe and swift departure of a Nigerian citizen from the conflict-ridden Gaza region. Alkasim Abdulkadir, the Special Assistant to the Minister of Foreign Affairs, Amb. Yussuf Tuggar, revealed this development in Abuja…

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Economy | Governance | Matters Arising | News | Politics

Former Minister Sadiya Umar-Farouk Faces EFCC Questioning Over Alleged 37.1 Billion Naira Fraud
ByGovernMend Nigeria January 3, 2024January 3, 2024

Sadiya Umar-Farouk, the former minister of Humanitarian Affairs, Disaster Management, and Social Development, is set to be questioned by the Economic and Financial Crimes Commission (EFCC) on allegations of involvement in a 37.1 billion naira fraud. This development follows the arrest of Halima Shehu, the National Social Investment Programme Agency’s former head, who is also…

Read More Former Minister Sadiya Umar-Farouk Faces EFCC Questioning Over Alleged 37.1 Billion Naira Fraud
Economy | Governance | Matters Arising | News

CCECC Completes Track Laying on Port Harcourt-Aba Railway Section
ByGovernMend Nigeria January 3, 2024January 3, 2024

China Civil Engineering Construction Corporation (CCECC), the contractor responsible for laying tracks on the Eastern Narrow Railway project, has announced the completion of track laying on the Port Harcourt to Aba section of the corridor. In a statement published on the official website of the construction company, CCECC disclosed the milestone, marking significant progress in…

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Economy | Governance | Matters Arising | News | Politics

Senator Orji Uzor Kalu Appeals for More Time for Tinubu’s Economic Reforms, Cites Ongoing Hardships
ByGovernMend Nigeria January 3, 2024January 3, 2024

Senator Orji Uzor Kalu of Abia State has called on Nigerians to be patient with President Bola Tinubu’s administration as it works to revive the country’s economy. Speaking during a visit to the chairperson of the All Progressives Congress (APC) in Ebonyi State, Kalu acknowledged the economic challenges facing Nigerians and urged them to give…

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