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All posts by BusinessNews Staff

  • naira-Dollar
    Politicians’ demand for dollars puts pressure on naira

    There are indications that the naira, which hit 208 against the United States dollar on the streets of Lagos on Friday, may drop further as politicians seek more of the greenback to fund campaigns few weeks to...

    • Posted January 28, 2015
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  • NNPC logo 1
    Relief as NNPC’s Forcados Pipeline resumes operations

    Nigerians will experience relief in power supply as the Trans-Forcados oil pipeline, which transports crude oil to an export terminal and gas to power stations, resumed operations after one week of closure. The closure of the pipeline...

    • Posted January 28, 2015
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  • Prof-Chinedu-Nebo
    FG accuses distribution companies of rejecting power allocations

    As Nigerians grapple with the challenges of inadequate electricity supply, the federal government has accused some electricity distribution companies of rejecting power allocated to them for distribution to customers. Speaking during a recent visit to the Corporate...

    • Posted January 28, 2015
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  • lagos-ibadan-expressway
    Lagos-Ibadan Expressway to be completed before August 2017

    The reconstruction of the Lagos-Ibadan Expressway may be completed before August 2017 going by the current speed of work, the Minister of Works, Mr. Mike Onolememen, has said. Onolememen, who spoke during a tour of the road...

    • Posted January 28, 2015
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  • Reginald Stanley 1
    Petrol subsidy rises to N3.64 per litre

    A week after the Federal Government announced the reduction of the pump price of petrol, subsidy on the product has increased to N3.64 from the N2.84 stated on January 16, 2015, statistics obtained from the Petroleum Products...

    • Posted January 28, 2015
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  • Mounir-Gwarzo
    Investment in mutual funds hits N152bn

    The President, Fund Managers Association of Nigeria, Mr. Michael Adebola, on Monday disclosed that N152bn had so far been invested by Nigerians in mutual funds. Adebola stated this when he led members of the FMAN to a...

    • Posted January 28, 2015
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  • 170812N-Power-Plant
    Eko Disco moves to generate electricity

    The Eko Electricity Distribution Company says it has commenced the tender process for its embedded generation project. The company said on Monday, in a statement signed by the Assistant General Manager, Corporate Communications, Mr. Godwin Idemudia, that...

    • Posted January 28, 2015
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  • Jackson Gaius-Obaseki
    Brass LNG shareholders eye preferred bidder for onshore works

    As a step ahead of the Final Investment Decision (FID) of the multibillion dollar Brass Liquefied Natural Gas (LNG) project in Bayelsa State, the shareholders now eye a preferred bidder for the onshore works. Speaking in Lagos...

    • Posted January 28, 2015
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  • Phillips-Oduoza
    Falling oil prices: No cause for alarm – Oduoza tells investors

    The Group Managing Director/Chief Executive Officer, of the United Bank for Africa Plc (UBA), Mr. Phillips Oduoza has urged investors in Nigeria not to panic over falling crude oil prices and exchange rate volatility, saying the country...

    • Posted January 27, 2015
    • 1
  • Jonathan-Sambo
    Government keen on economic diversification to mitigate drop in oil price

    Worried by the worsening price of crude oil in the global market, President Goodluck Jonathan, in company of some of his ministers, pledged on Sunday that his administration was committed to diversifying the economy to address the...

    • Posted January 27, 2015
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  • Umaru-Ibrahim
    Banks get N192.6bn discount from NDIC

    The Nigeria Deposit Insurance Corporation said on Sunday that N192.6bn had been granted as rebate on insurance premium to Deposit Money Banks in the last three years. The corporation, in a statement issued in Abuja, said the...

    • Posted January 27, 2015
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  • Naira-notes
    Firm predicts further naira devaluation after elections

    A research and financial advisory firm, the WSTC, Financial Services Limited has predicted another adjustment in the naira exchange rate band against the dollar after the 2015 elections. The firm stated this in its “2014 Economic Review...

    • Posted January 27, 2015
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