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All posts by BusinessNews Staff

  • Nigeria struggling to find buyers for N159bn oil

    Nigeria’s March crude programme is struggling to find outlets, with some 25 million barrels still unsold even as the April loading programme is expected to start arriving this week, traders have said. Despite this, offers for the...

    • Posted February 18, 2016
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  • Stamp duty: NIPOST to become FAAC member

    Following the implementation of the Stamp Duty Act by banks operating in the country, the Nigerian Postal Service is to be classified as a revenue-generating agency, investigation has shown. By this classification, NIPOST will join the elite...

    • Posted February 18, 2016
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  • Seven Energy secures $100m of additional equity capital

    Seven Energy International Limited (“Seven Energy” or the “Group”), the leading integrated gas company in south east Nigeria, with oil and gas interests in the region, is pleased to announce that it has secured US$100 million of...

    • Posted February 17, 2016
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  • BoI posts N12bn profit in one year

    The Bank of Industry has announced a profit after tax of N12bn for the financial year ended December 31, 2015 and an income of N37bn from the disposal of West African Milk Company’s shares. The bank, which...

    • Posted February 17, 2016
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  • NSE all-share index rises further as bullish trend persists

    The Nigerian stock market continued its positive run on Monday, recording its sixth appreciation in a row. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose by 0.6 per cent to close at 24,827.50. Similarly, market capitalisation...

    • Posted February 17, 2016
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  • NNPC in talks with IOCs, banks to finance new drilling, repay debt

    The Nigerian National Petroleum Corporation (NNPC) is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4 billion in debt that the state oil company has accumulated over...

    • Posted February 17, 2016
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  • Electricity tariffs: Court warns NERC against disobeying order

    Justice Mohammed Idris of the Federal High Court in Lagos yesterday warned the Nigerian Electricity Regulatory Commission (NERC) and Distribution Companies (Discos) against disobeying subsisting court orders on electricity tariffs. He said the NERC must not act...

    • Posted February 17, 2016
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  • FG mobilises Military to stop sabotage of oil facilities

    President Muhammadu Buhari monay in Abuja said  the federal government had begun mobilising the military and task forces to stop the sabotage of oil facilities and kidnapping  of citizens for ransom in the coastal areas of the...

    • Posted February 17, 2016
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  • Dangote’s Rice Outgrowers Scheme to employ 10,000 rural populace

    As the federal government turns attention to agriculture to ease the pressure on the economy and create jobs, President of Dangote Group, Alhaji Aliko Dangote at the weekend flagged off his multibillion Naira 8000 hectares of Rice...

    • Posted February 17, 2016
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  • Investors to get dividend value within 24 hours of payment

    Investors in the Nigerian capital market are to get value for dividend paid within 24 hours through the electronic dividend payment platform.  For now, it takes days and months for most investors to get value of the...

    • Posted February 16, 2016
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