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All posts by BusinessNews Staff

  • President inaugurates SCC’s $150m steel pipe mill factory

    The effort of the federal government towards making gas accessible and affordable to Nigerians through its National gas master plan received a boost on Thursday with the inauguration of a new ultra modern $150 million steel pipe...

    • Posted October 24, 2015
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  • GTBank records N92billion profit before tax in nine months

    Guaranty Trust Bank Plc yesterday announced gross earnings of N229.4 billion for the nine months endedSeptember 30, 2015, showing an increase of 15 per cent the N199.2 billion recorded in the corresponding period of 2014. Profit before...

    • Posted October 24, 2015
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  • Unbundled PIB to be resubmitted to parliament in First Quarter 2016

    In its bid to restructure the oil and gas sector, the federal government plans to split the Petroleum Industry Bill (PIB) stuck in the National Assembly for eight years and resubmit it by the first quarter of...

    • Posted October 24, 2015
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  • Guinness Nigeria suffers 76% profit decline

    Guinness Nigeria Plc has reported a 76 per cent year-on-year drop in the three months ended September 30, 2015. The company’s results for the period, which is the first quarter of its financial year ending on June...

    • Posted October 24, 2015
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  • Work begins on 650,000bpd Dangote refinery

    Work on the 650,000 barrels per day Dangote refinery being constructed at the Lekki Free Trade Zone in Lagos is currently at the sand-filling and soil piling stage, while some portions of the complex are being cleared...

    • Posted October 24, 2015
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  • No plans to sell refineries, JV assets – Osinbajo

    Vice President Yemi Osinbajo has said the Federal Government is not currently planning to sell the nation’s four refineries or part of its stakes in joint venture assets in the oil and gas sector. The Group Managing...

    • Posted October 24, 2015
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  • SEC, labour unions take investor education to workers

    The Securities and Exchange Commission says it has in partnership with labour unions in the country started a financial literacy and investor education drive targeted at Nigeria workers. According to the commission, the drive is aimed at...

    • Posted October 24, 2015
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  • Tax evasion: Six firms face criminal prosecution in Lagos

    The Lagos State Government on Thursday disclosed that it had commenced criminal proceedings against six companies operating within its defined territory without remitting taxes amount to N50 million between 2007 and 2012. The state government named the...

    • Posted October 24, 2015
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  • Nigeria plans $25bn fund to stave off recession

    The country plans to create a $25bn fund with public and private financing to modernise infrastructure and avoid a recession, Vice President Yemi Osinbajo has said. The halving of oil prices since last year has forced Nigeria,...

    • Posted October 23, 2015
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  • Banks, BDCs must demand BVN from November 1 – CBN

    The Central Bank of Nigeria on Wednesday said from November 1, 2015, prospective buyers of foreign currencies must show their Bank Verification Numbers to banks and Bureau De Change operators before they would be allowed to buy...

    • Posted October 23, 2015
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