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Abuja, Nov. 26, 2024 – About 200 trucks are to load petroleum products from the Port Harcourt Refinery daily. Sunday Dare, the Special Adviser on Public Communications and Orientation to the President, disclosed this in a statement on Tuesday. He said the old wing of the refinery had resumed operations with a production capacity of 60,000 barrels of crude oil per day. “The Port Harcourt Refinery has two wings. The Old Refinery comes on stream today with an installed production capacity of 60,000 barrels per day of crude oil. About …

Abuja, Nov. 25, 2024 – Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the third quarter of 2024. The National Bureau of Statistics (NBS) reported this in its latest bulletin on Monday. The growth rate is higher than the 2.54% recorded in the third quarter of 2023 and higher than the second quarter of 2024 growth of 3.19%. According to NBS, the performance of the GDP in the third quarter of 2024 was driven mainly by the services sector, which recorded a growth of 5.19% …

Abuja, Nov. 20, 2024 – The federal government has established a National Engineering and Innovation Fund (NEIF) to facilitate the development of engineering innovations and entrepreneurship. Bello Goronyo the Minister of State for Works, announced this during 2024 International Engineering Conference, Exhibition, and Annual General Meeting of the Nigerian Society of Engineers (NSE) in Abuja. The theme of the conference was “Sustainable Engineering Solutions to Food Security and Climate Change”. The minister said the development of the fund was imperative in view of the need to leverage engineering expertise to address …

Beijing, Nov. 20, 2024 – The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially slicing growth in the world’s second-biggest economy by up to 1 percentage point. The poll, the first on China’s economy by Reuters since Donald Trump’s sweeping election victory on Nov. 5, also predicts that the President-elect will resist starting off with blanket 60% tariffs on Chinese goods. Trump, who is due to take office in January, pledged during campaigning to slap hefty tariffs …

Abuja, Nov. 19, 2024: Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), has called on African descendants to unite for the common goal of promoting their diversity, strength and progress of the continent. The NiDCOM Chairman made the call in Abuja.during a meeting with the Cuban Ambassador to Nigeria, Miriam Morales Palmero, Dabiri-Erewa described this decade, nicknamed “The Decade for the People of African Descent”, as an opportunity for Africans all over the world to build a stronger, united and upward continent. She said the Commission was eager to work …

Gombe, Nov. 19, 2024 – Polaris Bank concluded its nationwide financial literacy initiative with an impactful session at the MD/CEO’s designated school, Government Day Secondary School, Pantami, Gombe State. The ceremony was the culmination of the bank’s activities commemorating the World Savings Day 2024. The activities were to promote culture of saving and financial responsibility among young Nigerians. During the period, the Bank’s team reached out to schools across all the 36 states in Nigeria and the Federal Capital Territory (FCT). The financial literacy program focused on equipping students with …

Moscow, Nov. 19, 2024 – Ukrainian forces carried out their first strike on a border region in Russia using Western-supplied missiles as President Vladimir Putin approved an updated nuclear doctrine expanding the conditions for using atomic weapons. Ukraine deployed ATACMS missiles to strike a military facility in the western Bryansk region, Russia’s Defense Ministry said, according to the Interfax news agency. It was the first known attack following the decision by President Joe Biden’s administration to approve Kyiv’s limited use of the weapons to hit targets inside Russia, two months …

Abuja, Nov. 19, 2024 -The Federal Government plans to increase its annual housing budget to a minimum of N500 billion from 2025. Ahmed Dangiwa, the Minister of Housing and Urban Development, disclosed this while featuring on the Meet the Press Forum organised by the Presidential Digital Strategy and Communications team. He said this became necessary as the current N50 billion annual budget was inadequate. Dangiwa said the federal government needed N5.5 trillion yearly to bridge the housing deficit in the country. He said the federal government had created more than …

Lagos, Nov. 17, 2024 – Nigeria and India have agrees to boost their bilateral relationship in areas of economic development, defence, healthcare and food security. The two countries also agreed to a greater collaboration in counterterrorism, maritime security, and intelligence sharing. According to Bayo Onanuga, the Presidential Spokesman, these were the major outcome of the bilateral talks between the two countries held on Sunday during the state visit of Narendra Modi, the Indian Prime Minister. “The leaders reiterated their unequivocal condemnation of terrorism in all its forms and manifestations including …

Lagos, Nov. 17, 2024 – First Bank of Nigeria (FBN) Holdings Plc is to change its name to First Holdco Plc. The shareholders of the bank approved the change of name at the 12th Annual General Meeting (AGM) held virtually on Thursday, Nov. 14, 2024. The approved changes include shifting the company’s legal name from FBN Holdings Plc to First Holdco Plc and its brand name to FirstHoldco. The shareholders also approved the proposal of the board to raise the bank’s capital by N350 billion. Adewale Arogundade, the company’s Secretary, …