All posts by BusinessNews Staff

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  Investors raise 500million Euros for Calabar Sea Port project

  A consortium, Broad Spectrum Industrial Services,  has raised 500 million Euros for the financing of the proposed Calabar Deep Seaport. Other signature projects initiated by the Cross River State Governor, Senator Ben Ayade, which attracted the interest...

  • Posted July 3, 2015
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  Dominance in telecoms is no threat to business – MTN insists

  MTN Nigeria, the largest telecommunications network in Nigeria by subscriber number, has dispelled the fears in the telecoms industry that operational dominance is a threat to business growth and survivability. Chief Executive Officer of MTN Nigeria, Mr....

  • Posted July 3, 2015
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  CBN to sell N50.4bn Treasury bills

  The Central Bank of Nigeria is planning to raise N50.4bn from the sale of new Treasury bills, data from the central bank has shown. According to the CBN, the TBs will have three-month and six-month maturities and...

  • Posted July 3, 2015
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  Joda committee recommends merger of airlines

  A 19-member committee of the All Progressives Congress has advised the Federal Government led by President Muhammadu Buhari to merge the country’s debt-laden airlines and create a national carrier in partnership with a global airline to boost...

  • Posted July 3, 2015
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  Egbin power plant now generates 1,000MW

  Nigeria’s largest power generation plant, Egbin Power Plc, is for the first time in eight years generating above 1,000 megawatts of electricity. This follows continuous investment and upgrade activities on the plant by the Sahara Power Group...

  • Posted July 3, 2015
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  Implementation of 35% levy on used cars stalled

  There are indications that the collection of 35 per cent import levy on used cars, popularly called Tokunbo, which was due to begin on July 1, 2015, has been put on hold. The levy is the second...

  • Posted July 3, 2015
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  90% of motor insurance certificates possessed by motorists are fake – Police

  The  police in Lagos have said the geometric increase in the cases of insurance fraud across the country is now a source of worry to the command and stake holders in insurance industry. The police pointed at...

  • Posted July 3, 2015
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  OPEC crude oil production hits three-year high

  Despite the clamour by the poorer members of the Organisation of Petroleum Exporting Countries (OPEC) for the cartel to reduce crude oil production due to the drop in prices, OPEC’s daily output climbed to a three-year high...

  • Posted July 2, 2015
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  Nigerian Stock Market records 3.4% in six months

  The Nigerian Stock Exchange (NSE) All-Share Index, which  measures the aggregate growth of the stock market declined by 3.46 per cent  in the first half of the year as investors maintained cautious trading. The ASI, which opened...

  • Posted July 2, 2015
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  Oando sells downstream business for $276m

  A consortium of investors on Tuesday announced the acquisition of 60 per cent of the economic rights and 51 per cent of the voting rights in the downstream business of Oando Plc, an integrated oil and gas...

  • Posted July 2, 2015
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