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All posts by BusinessNews Staff

  • NSE-Building-Lagos
    Market remains positive as banking stocks rally

    The Nigerian equities market began the month of March with a positive performance as the Nigerian Stock Exchange (NSE) All-Share Index appreciated by 0.54 per cent to close at 30,267.18. The market rallied in the past two...

    • Posted March 4, 2015
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  • Naira-notes
    Naira gains marginally on dollar sales by oil firms

    The naira firmed by 1.13 per cent against the dollar on the interbank market in thin trade on Monday, supported by dollar flows from two energy companies, traders said. FMDQ data showed that the naira closed at...

    • Posted March 4, 2015
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  • fuel-scarcity
    Fuel scarcity to last till next week

    The current scarcity of petrol in most parts of the country is expected to continue till next week, marketers told one of our correspondents on Monday. While the pump price of the product had risen to N120...

    • Posted March 4, 2015
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  • Long-queue at fuel station
    Marketers shun PPPRA, sell diesel above recommended market price

    Despite the over 50 per cent drop in the price of crude oil in the international market, which effectively forced a decline in the prices of petroleum products, oil marketers have continued to sell Automotive Gas Oil...

    • Posted March 4, 2015
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  • Chinedu Nebo 1
    Nigeria tops list of countries with highest pipeline breaks – Nebo

    Minister of Power, Prof. Chinedu Nebo, has said that Nigeria presently prides itself as the only country in the world with the highest number of breaks and vandalism of key petroleum products pipelines. Nebo who disclosed this...

    • Posted March 4, 2015
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  • Olusegun-Aganga
    Nigeria’s trade to rise by N2.43tn – NBS

    The country’s total merchandise trade is expected to rise by N2.43tn from the estimated figure of N25.17tn in December 2014 to N27.6tn by the end of this year, a document obtained from the National Bureau of Statistics...

    • Posted March 4, 2015
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  • Senator-Idris-Umar
    Nigeria-Ghana ferry service to commence soon

    Transport of passengers and goods between Nigeria and Ghana through the Atlantic Ocean is expected to commence soon. The Lagos Office Area Manager of the National Inland Waterways Authority, Mr. Mu’azu Sambo, told our correspondent in an...

    • Posted March 4, 2015
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  • Warri Refinery
    Lack of support by labour stalls refineries’ sale

    The Federal Government may have slowed down the process of selling the nation’s refineries following its failure to secure the support of labour unions. The government had in 2013 announced plans to sell the nation’s four refineries....

    • Posted March 4, 2015
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  • 170812N-Power-Plant
    Seven years needed for stable electricity – Leynes

    The Managing Director and Chief Executive Officer, Ibadan Electricity Distribution Company, Fortunato Leynes, has stepped down from his position and says it will take at least seven years for Nigerians to enjoy stable power supply. Leynes, who...

    • Posted March 4, 2015
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  • Uche Orji 1
    Oil price slump: NSIA rules out withdrawal from SWF

    The federal government is unlikely to make withdrawals from Nigeria’s Sovereign Wealth Fund (SWF), even as the price of crude oil declines. The Nigeria Sovereign Investment Authority (NSIA), set up in 2012, isn’t yet large enough to...

    • Posted March 4, 2015
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  • Chevron-logo-
    Chevron seeks to transfer disputed oil blocks to Seplat

    Contrary to the order by the Supreme Court that the parties in the case before the court in a suit involving Brittania-U Nigeria Limited and Chevron, Seplat Petroleum Development Company and others, on Oil Mining Leases (OMLs)...

    • Posted March 3, 2015
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  • 07102-Ngozi-okonjo-Iweala
    Nigeria’s revenue shrinks by 28% amid oil price slump

    The sharp fall in oil prices in the last seven months has resulted in a 28.05 per cent drop in Nigeria’s revenue. The country’s gross receipts fell to a total of N3.676 trillion between July 2014 and...

    • Posted March 3, 2015
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