Economy

  “I think any seriously minded miner, without ulterior motives, should be able to comprehend and comply with this new pro-masses visionary targeted Prosperity directive, within the stipulated time.” PEGASUS REPORTERS, LAGOS | SEPTEMBER 9, 2023 Mallam Abdulkarim Muhammed Abdullahi needs no introduction, except for those who may not have had an encounter with him before. Apart from his fruitful ...

  “Investigation revealed that Olam usually directed the forex buyers to lodge the naira equivalent into the account of one or many of its SPVs during the period under review. Although some of the companies have fictitious Nigerians as directors, the accounts are solely managed by Indian expatriates, some of whom are based in Europe and Asia.” PEGASUS REPORTERS, LAGOS ...

  “Some of the prominent businessmen expected to attend the event include Alhaji Aliko Dangote, Tony Elumelu, Alhaji Abdul Sama Rabiu, Femi Otedola, Kola Karim, Hajiya Bola Shagaya and Folurunsho Alakija” PEGASUS REPORTERS, LAGOS | AUGUST 02, 2023 Nigeria’s President Bola Ahmed Tinubu will be at the head of an investment drive with over 30 Nigerian billionaires to attend the ...

  “At the start of the Ramadan fast, Dangote Sugar wrote a petition against BUA Sugar, asking the FG to place trade sanctions on BUA for “undermining the National Sugar Master Plan.” In English, he wanted the FG to tilt the competition in his favour again by grounding BUA. BUA claimed that it was being blackmailed because he refused to ...

  “There is a need to shift focus to matters that will create employment rather than bellyaching over perceptionally jaundiced data. The uproar should be more about addressing the unemployability and underemployed challenges than crying over unemployment. The politicization of unemployment is a tool for politicians to continue exploiting the pains of the people for personal interests and gains” PEGASUS ...

  “Yakusak’s vision for the workshop is clear: “to build the confidence and expertise of budding exporters through learning from established industry players”. This strategy, he believes, will not only amplify the number of participants in the non-oil exports sector but also contribute to the expansion of Nigeria’s gross domestic product (GDP).” PEGASUS REPORTERS, LAGOS | AUGUST 24, 2023 Nigeria’s ...

  “Rural areas bear the brunt of this crisis, with 72% of people residing there trapped in multidimensional poverty. These areas, home to 80% of the poor, are inhabited by 70% of Nigeria’s population” PEGASUS REPORTERS, LAGOS | AUGUST 23, 2023 The National Bureau of Statistics (NBS), has revealed that over 133 million Nigerians, constituting 63% of the population is ...

  “O’Neill said that the BRICS nations of Brazil, Russia, India, China, and South Africa, “never achieved anything since they first started meeting.” However, calls for a gold-backed ‘trading currency’ from Brazilian President Luiz Lula da Silva and others within the bloc have revived the idea of a BRICS currency” PEGASUS REPORTERS, LAGOS | AUGUST 21, 2023 One of the ...

  “Initially, this applied to the kobo end of transactions. Over time, we succeeded in killing the transactional value of the Kobo fractional unit of denomination. Without utility, the Kobo became redundant and faded into obscurity with its relevance restricted to spreadsheet presentations.” PEGASUS REPORTERS, LAGOS | AUGUST 20, 2023 Nigerians are quite peculiar in one area of money management; ...

  “To fully comprehend the insanity of this action, kindly consider the following: NNPC’s monthly forex payment to CBN dropped from $3Billion to just $300Million (10%) whereas Nigeria needs $1.8Billion monthly for debt service and $4.6Billion for importers.” PEGASUS REPORTERS, LAGOS | AUGUST 20, 2023 Recently, Nigeria has experienced an almost 100% per cent decline in the naira’s value compared ...