Chairman Of Innoson Motors Cautions FG On Plan To Reduce Duties On Vehicles

LAGOS NOVEMBER 29TH (NEWSRANGERS)-Chairman of Innoson Vehicles Manufacturing Company Limited, IVM, Chief Innocent Chukwuma, has cautioned that Federal Government’s plan to reduce the import duties and levies on buses, tractors and other motor vehicles as contained in the recent 2020 Finance Bill, will not only be a disincentive to investments, but will also set Nigeria’s automotive…

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Naira Slumps Across Forex Markets As CBN Governor Slams Black Market

LAGOS NOVEMBER 26TH (NEWSRANGERS)-Forex turnover dropped by 68.2%, as the Naira’s exchange rate at the NAFEX window depreciated significantly against the dollar to close at N393.25/$1 during intra-day trading on Wednesday, November 25. Also, the naira crashed further against the dollar, closing at N487/$1 at the parallel market on Wednesday, November 25, 2020, as the…

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Okonjo-Iweala Set To Be Name WTO DG As Rival Contestant Allegedly Drops Out Of Race

LAGOS NOVEMBER 24TH (NEWSRANGERS)-Nigeria’s former minister of finance and the frontrunner in the WTO DG race, Ngozi Okonjo-Iweala, is set to be named the new Director-General of the World Trade Organisation (WTO) after South Korea reportedly decided to withdraw its Trade Minister, Yoo Myung-hee from the race. According to the Washington Trade Daily, Seoul is…

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Nigeria Refineries Gulped N81.41bn In Eight Months, Refined Zero Crude, NNPC Data Revealed

LAGOS NOVEMBER 23RD (NEWSRANGERS)-A total of N81.41bn was expended on Nigeria’s refineries between January and August this year but the facilities refined no drop of crude oil all through this period, latest data obtained from the Nigerian National Petroleum Corporation showed. Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical…

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WTO Postpones Meeting Aimed At Breaking Leadership Impasse Till Further Notice

LAGOS NOVEMBER 7TH (NEWSRANGERS)-The World Trade Organization has cancelled a meeting on Nov. 9 to decide on the appointment of Nigeria’s Ngozi Okonjo-Iweala as the body’s next director general after the United States rejected her as a candidate. Trade sources said they thought a factor in the delay was that there had been no indication…

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