MAN, LCCI Lament Continuous Hike in Monetary Policy Rate by CBN Moody’s says one-third of N3.5tn pre-tax profits of 8 banks came from currency revaluation
James Emejo in Abuja and Dike Onwuamaeze in Lagos
The Manufacturers Association of Nigeria (MAN) and the Lagos Chamber of Commerce and Industry
(LCCI) yesterday expressed concern over the negative effect of continuous hike in the Monetary Policy Rate
(MPR) in an elusive bid to tame the country’s inflation. In separate press releases, the MAN
and the LCCI stated that despite the continuous increase in MPR over the past two years resulting in a weighty
1,475 basis point hike from 11.5 per Continued on page 9
Companies May Lose N2.4tn as Concerns Mount over Unsettled FX Forwards... Page 5 Thursday 25 July, 2024 Vol 29. No 10697. Price: N400
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Kwankwaso to FG: Dangote Refinery Must Not Be Allowed to Fail... Page 6
Sanwo-Olu to Investors: Bring Your Business to Lagos for Guaranteed Returns State’s GDP rises to N41 trillion in five years
Segun James
Lagos State Governor, Babajide
Sanwo-Olu, at a Pre-Summit Investors' Roundtable held yesterday, pushed for an aggressive investment inflow to boost
the state’s economic growth. Sanwo-Olu and his team reeled out new investment focus and areas of op-
portunities before potential investors at the third edition of Africa Social Impact Summit (ASIS 3.0) organised by Sterling
One Foundation in collaboration with Ministry of Commerce, Cooperatives, Trade and Investment.
The event themed “Opportunity Continued on page 9
FG Warns Planned Nationwide Protest May Lead to Anarchy
SGF, ministers meet to avert protests NLC says protest didn't originate from it, as South-east governors, Abiodun oppose proposed rally APC, other stakeholders urge engagement as PDP supports movement against hardship Dialogue with protesters, House minority caucus urges FG
Deji Elumoye, Chuks Okocha, Michael Olugbode, Onyebuchi Ezigbo, Olawale Ajimotokan, Sunday Aborisade in Abuja, Segun Awofadeji in Bauchi, John Shiklam in Kaduna, Sylvester Idowu inWarri and James Sowole in Abeokuta
The federal government has warned that there would be dire consequences for the stability of the country if a nationwide protest being planned by some Nigerians goes ahead from the beginning of next month. Secretary to the Government of the Federation (SGF), Senator George Akume, met with ministers in his office behind closed doors to try to avert the protest. But Nigeria Labour Congress (NLC), yesterday, dismissed reports that it was withdrawing from the proposed Continued on page 9
ANYIM at THE VILLA...
L-R: Ebonyi State Governor, Francis Nwifuru; former Senate President, Senator Anyim Pius Anyim; President Bola Ahmed Tinubu; and Imo State Governor, Hope Uzodimma, during their PHOTO: GODWIN OMOIGUI visit to the president at the Presidential Villa Abuja ... yesterday
Italian Oil Giant, Eni Confirms NUPRC's Approval of Deal with Oando... Page 26