All posts by BusinessNews Staff

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  Power output seen at 20% of 2016 peak after attacks

  Power output in Nigeria plunged to a fifth of this year’s peak after attacks on natural gas pipelines cut supplies of the fuel to electricity producers, according to Egbin Power Plc, the country’s largest generator. Total generation...

  • Posted May 26, 2016
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  Foreign airlines’ $575m trapped in Nigeria — IATA

  The International Air Transport Association said that funds belonging to foreign airlines, which had been trapped in the country due to the Federal Government’s policy on foreign exchange, stood at $575m (N113.28bn) as of March this year....

  • Posted May 25, 2016
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  Government opens up airport concession to foreign investors

  The Federal Government on Monday said foreign investors were free to take part in the planned concession of the nation’s four major airports. According to the government, the four airports up for concession are the Nnamdi Azikiwe...

  • Posted May 25, 2016
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  NNPC didn’t remit N1.1tn in 2013 – NEITI

  The Nigeria Extractive Industries Transparency Initiative has accused the Nigerian National Petroleum Corporation of not remitting $3.8bn (about N748.6bn at the current official rate of N197 to a dollar) and N358.3bn to the Federation Account in 2013...

  • Posted May 25, 2016
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  MPC may review exchange rate policy

  The Central Bank of Nigeria’s Monetary Policy Committee will likely review the naira exchange rate regime by adopting a more flexible and market-determined rate as economic recession looms over the country, it has been learnt. Vice President...

  • Posted May 25, 2016
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  FG to build 30,000 housing units in four states

  The Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA), have been directed by the federal government to synergise their skills and capabilities to build 30,000 housing units in Abuja, Lagos, Port Harcourt and...

  • Posted May 25, 2016
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  Market sheds N35bn on profit taking as trading resumes

  Trading at the Nigerian stock market began the week on negative note as some investors locked in profit while others await the outcome of the Central Bank of Nigeria(CBN)’s Monetary Policy Committee (MPC). The market has recorded...

  • Posted May 25, 2016
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  Senate urged to pass Audit Bill

  Members of the Senate have been advised to ensure the passage into law, the Audit Bill 2014. THISDAY learnt that the lawmakers are expected to deliberate on the bill this week. The bill seeks to repeal the...

  • Posted May 25, 2016
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  NERC, SON may ban importation of high energy appliances

  The Nigerian Electricity Regulatory Commission (NERC) is considering a ban on importation of electrical appliances that consume huge volumes of electricity into the country, the agency’s acting head, Dr. Anthony Akah has said. Akah said in an...

  • Posted May 25, 2016
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  FG plans economic strategy review to avert recession

  The Federal Government will soon commence a review of its economic strategies following the poor growth, which the economy recorded in the first quarter of the year. The move, a Presidency source said, became imperative in order...

  • Posted May 24, 2016
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