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August 29, 2024 MAN Appeals to Central Bank of Nigeria to Reduce Interest Rates

MAN Appeals to Central Bank of Nigeria to Reduce Interest Rates

The Manufacturers Association of Nigeria (MAN) has appealed to the Central Bank of Nigeria – CBN to reduce interest rates to save the country’s manufacturing sector.

The outgoing Chairperson of MAN in Kwara/Kogi States, BIOKU RAHMAN, made the appeal at the association’s 10th Annual General Meeting (AGM) in Ilorin, the Kwara State capital.

Mr RAHMAN said the CBN needs to direct commercial banks to reduce interest rates on industrial loans. He also urged the Bank of Industry (BOI) to roll out further reductions in its lending rates to industries.

The outgoing MAN Boss urged the CBN to widen the window of foreign exchange to local industries while urging the federal government to harmonise taxes and levies at the federal, state and local government levels.

August 19, 2024 NNPCL Denies N6.8b Debt to International Oil Traders

NNPCL Denies N6.8b Debt to International Oil Traders

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has refuted claims that it owes international oil traders 6.8 billion dollars.

The NNPC’s statement follows a recent report alleging that the oil giant was in debt to foreign oil traders and had failed to remit revenue to the Federation Account since January.

Reacting to this, NNPC, in a statement through its spokesperson, OLUFEMI SONEYE, dismissed the allegation as inaccurate.

The company explained that while it operates on credit terms in the oil trading business, it is up-to-date with its payments and maintains open credit lines with multiple traders.

August 16, 2024 Akwa Ibom State Government Restates Commitment to Project Mary Slessor Legacies

Akwa Ibom State Government Restates Commitment to Project Mary Slessor Legacies

Akwa Ibom State Government has reaffirmed its commitment to the development and promotion of Mary Slessor’s legacies as part of measures toward boosting Tourism in the State.

The Commissioner for Culture and Tourism, Sir Charles Udoh, gave the assurance in his office, Thursday, during a courtesy call on him by a NGO, Mary Slessor Foundation, led by the Chairman, Rt. Rev. Ini Ukpuho.

The Tourism Commissioner who expressed government’s readiness to partner valuable NGOs and public spirited individuals, in the development processes of the State, pledged commitment to partnering the organisation in showcasing the legacies of Mary Slessor, as he said, is an attractive tourism line with prospects for high income yield.

Sir Charles Udoh said, with Tourism as a major revenue earner globally, Akwa Ibom State Government will drive all possibilities towards boosting Tourism in the State, such as the Mary Slessor legacies, which will encompass the instituting of the Twins festival, to accentuate the work of this Scottish, Presbyterian missionary, who stopped the killing of Twins in this part of the world.

Earlier, the Chairman of the Foundation and coordinating chaplain, National Christian center, Abuja, Rt. Rev. Ini Ukpuho, had said, the courtesy call was a move in line with the directive of the State Governor, Pastor Umo Eno, for the Presbyterian Church to foster partnership with the Ministry of Culture and Tourism, towards the promotion of Mary Slessor’s legacies.

He thanked the Commissioner for the warm reception accorded him and his team and pledged to provide necessary information and materials needed to support the promotion, marketing and showcasing, of the legacies of Mary Slessor, as a prospective tourism potential.

Present at the event were: the Permanent Secretary in the Ministry, Mrs. Grace Akpan, the Secretary of the Foundation, Elder Nnanna Idika and the CEO, Global Trend marketing Solutions Limited, Desmon Imo Ita.

July 31, 2024 AgriBusiness: Women Farmers Advocate Assistance for Expansion

AgriBusiness: Women Farmers Advocate Assistance for Expansion

Small Scale farmers in Africa make up 80% of Africa’s population and produce 70% of the food consumed by citizens.

For this reason, the African Development Fund Bank advises that they be given an enabling environment to sustain the farming business and make profit from the crops they harvest and sell.

This special report spotlights the existence of Small Scale Women farmers in Akwa Ibom and the use of cooperatives to commercialize their farming.

The group of women farmers featured in the Special Report by Inspiration FM’s Senior Correspondent, IMA DEM, speak about their operations, their challenges, and the difficulty in accessing government’s interventions for farmers in the state.

The Food and Agricultural Organisation asserts that there is need to address Nigeria’s food insecurity which will put 26.5million Nigerians at risk of hunger this year; 2024. It apparently becomes necessary to tackle the challenges militating against productive farming in communities.

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