All posts by BusinessNews Staff

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  Petrol sales dropped 40% since price adjustment to N145 – MOMAN

  Following the recent adjustment of the price of petrol to N145 per litre by the federal government, sales of the product have drastically reduced by about as much as 40 per cent, according to the Chairman, Major...

  • Posted June 12, 2016
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  AfDB approves $150m credit for UBA

  The Board of Directors of the African Development Bank Group (AfDB) through its private sector window has approved a $150 million Line of Credit (LOC) to United Bank for Africa (UBA) Plc. This was disclosed yesterday by...

  • Posted June 11, 2016
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  NNPC pays N56bn to federation account

  The Nigerian National Petroleum Corporation (NNPC) said it paid N56.22 billion into the Federation Account in April, 2016. This is contained in the corporation’s Monthly Financial Report released in Abuja yesterday. “NNPC transferred N56.22 billion to the...

  • Posted June 11, 2016
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  Flexible forex: CBN meets Bankers’ Committee

  As details of the flexible foreign exchange policy promised by the Central Bank of Nigeria (CBN) are being awaited, the naira further slumped yesterday, exchanging at N372 to the US dollar. But the Bankers’ Committee has allayed...

  • Posted June 11, 2016
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  Oil slump, opportunity for economic restructuring, says minister

  The Federal Government has acknowledged that Nigeria has been rendered helpless by the crude oil industry and its price volatility. The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, stated this during the national conference of...

  • Posted June 11, 2016
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  NSE records first gain of N64bn this week

  The market capitalisation of the Nigerian Stock Exchange appreciated by N64bn at the close of trading on the Exchange’s floor on Thursday with Unity Bank Plc, Nestle Nigeria Plc and Total Nigeria Plc emerging as the top...

  • Posted June 11, 2016
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  Gas supply to NBC drops to zero

  Nigerian Bottling Company said on Thursday that the cost of purchasing diesel for production was eating deep into its profit margin. The NBC, bottlers of Coca Cola, said it resulted to buying diesel after the supply of...

  • Posted June 11, 2016
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  N99bn debt threatens integrated power projects

  The operational efficiency of the 10 power plants built under the National Integrated Power Projects scheme is being threatened by a debt of N99bn owed the managers of the facilities. According to the Niger Delta Power Holding...

  • Posted June 11, 2016
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  Economic crunch: Nigerian airlines abandon aircraft at maintenance facilities overseas

  Checks by THISDAY have revealed that some Nigerian airlines are unable to bring back their aircraft taken abroad for routine maintenance due to their inability to pay outrageous maintenance bills, which have tripled because of the low...

  • Posted June 10, 2016
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  Why FG wants IMO to audit maritime sector – Amaechi

  The Minister of Transportation, Mr. Rotimi Amaechi on Monday said the International Maritime Organisation (IMO), a specialised agency of United Nations,, agency is being drafted to audit the maritime sector to ensure its compliance with global safety,...

  • Posted June 10, 2016
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