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President Bola Ahmed Tinubu has commended the Indonesian business conglomerate, the Tolaram Group, for its unwavering confidence in Nigeria’s economy after it acquired Diageo’s 58.02 percent shareholding in Guinness Nigeria Plc.

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President Bola Ahmed Tinubu has commended the Indonesian business conglomerate, the Tolaram Group, for its unwavering confidence in Nigeria’s economy after it acquired Diageo’s 58.02 percent shareholding in Guinness Nigeria Plc.

President Tinubu lauded Tolaram’s acquisition of Diageo’s shares in Guinness, stating that it demonstrates the group’s long-term vision for doing business in Nigeria.

Tolaram, which has been operating in the country for the past 50 years, has already partnered with Nigeria in building the Lekki Free Trade Zone and the country’s first deep sea port

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THE FEDERAL GOVERNMENT DID NOT FUND MY REFINERY – DANGOTE.

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Dangote Refinery
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“In the refinery, we did not, and I repeat, we did not collect one single incentive from the Federal Government of Nigeria or even Lagos State.

“Yes, the Lagos State gave us a good deal but we paid $100m for the land. It wasn’t free land; we paid for it.” – Dangote On the issue of monopoly.

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CBN to continue with higher interest rates if inflation does not come down – Cardoso.

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The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said that persistent inflation could prolong monetary tightening measures and hinder the nation’s growth potential.

He said in the foreword of the inaugural edition of the CBN’s Macroeconomic Outlook for Nigeria, recently released by the apex bank.

Based on this foreword, the central bank governor suggests that the apex bank could continue with its hawkish monetary policy, which is underpinned by higher interest rates, if inflation continues to rise.

He said: “The positive domestic outlook is, however, subject to certain risks, especially, as security challenges, supply-side shocks, and global geoeconomic fragmentation could aggravate inflationary pressures.

“Elevated inflation, due to long-standing structural imbalances, could extend monetary tightening and depress growth potentials.

“Oil theft, pipeline vandalism, and an unlikely decline in crude oil price could also constrain fiscal space, hamper foreign exchange receipts, lower accretion to the external reserves, heighten pressure in the foreign exchange market and undermine domestic stability.”

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“I live in a rented house in Abuja” – Africa’s richest man, Aliko Dangote reveals.

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Aliko Dangote
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Aliko Dangote, Africa’s richest man, revealed that he lives in a rented apartment in Abuja, the capital city of Nigeria, and he does not own any houses outside of Nigeria except for the ones in Lagos and Kano

He explained that he is passionate about the Nigerian dream and wants to focus on industrialization in Nigeria.

He also shared that he sold his London house in 1996 to focus on his business ventures in Nigeria.

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