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Daily Business News Brief – July 25th, 2022


As CBN Tackles Inflation, Currency in Circulation Dips by N72.5bn in June- Thisday
Following the Central Bank of Nigeria (CBN) to manage exchange rate, currency in circulation dropped by N72.5billion or 2.2 per cent from N3.33trillion as at the end of May to N3.26trillion at the end of June 2022, the latest statistics from the CBN has revealed.   This is on the back of several monetary policies adopted by the apex bank to mop-up liquidity in the economy to tackle inflationary pressure…Read More

Blackout looms as electricity workers join NLC-ASUU protest – Punch
Nigeria may witness another round of blackouts beginning from Tuesday as electricity workers on Sunday insisted that they would join the solidarity protest of the Nigeria Labour Congress/Academic Staff Union of Universities.  Power sector workers under the aegis of the National Union of Electricity Employees made their position known in a letter issued by the General Secretary, NUEE, Joe Ajaero, to the vice presidents of states and administrative councils chapter secretaries of the union..Read More

NBC Investment in Nigeria Hits €1bn in 10 Years – Thisday
The Nigerian Bottling Company (NBC) has stated that its investment in Nigeria has reached over €1 billion over the past ten years, noting that the move demonstrates its confidence in the nation’s investment climate.  The Managing Director, NBC Limited, Matthieu Seguin, stated that the investment helped to boost its production capacity, build warehouses, invest in eco-friendly businesses that has provided job opportunities to thousands of Nigerians across the country….Read More

Africa Prudential declares 142% growth in assets FY21 – Thisday
Africa Prudential has announced a 142 per cent growth in total assets for the first half of 2022, providing further evidence of gains from its diversification into digital technology solutions.  A statement said that it recorded gross earnings of N1.99 billion, compared to N1.67 billion in H1 2021, representing 19 per cent year on year…Read More

Insecurity: Agric imports exceed exports by N443.35bn – Punch
The value of agricultural goods imported into the country exceeded exports by N443.35bn in the first quarter of 2022 amid rising security challenges that have continued to affect the fortunes of the sector, according to figures obtained by our correspondent  Data obtained from the National Bureau of Statistics revealed that “the value of total trade in agricultural goods in Q1, 2022 stood at N644.94bn of which exports were valued at N201.59bn in Q1, 2022.”…..Read More

Constrained by Scarce FX, Agro-allied Firm Resorts to Backward Integration – Daily Independent
Amidst the current challenges of foreign exchange accessibility as well as the devastating impact of the COVID-19 pandemic, PET Agro Limited, said it has resolved to embrace backward integration which is more beneficial to both the company and the Nigerian economy in general.  It said it also planned to fully set up a local vegetable oil plant to be sited in the oil palm and cashew producing areas in Kogi State by 2023.…..Read More
fake richard mille
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The latest and best quality materials in today's watch field are used in conjunction with precious metals to make it surrounded by a luxurious and noble aura when it is born. The detailed processing of each screw and each plane is a manifestation of its high quality. It perfectly combines the unconventional skull design with the tourbillon technology that Richard Mille is famous for. It gives people visual enjoyment and brings us thinking about the ultimate problem of life, which is evocative. endless. Coupled with a movement that has applied many advanced technologies to show the beauty of machinery in front of people, its performance is beyond doubt!