All posts by BusinessNews Staff

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  Oriental Energy, Afren Energy complete first development oil well

  Oriental Energy Resources Limited (OERL) and its JV Partners, Afren Energy Resources and Addax Petroleum have announced the completion and flow testing of their first development well, Okwok 13 in the OkwokMarginal Field in OML 67. The...

  • Posted June 21, 2015
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  FG inaugurates committee to probe NIMC labour crisis

  The Federal Government has inaugurated an independent committee to address the labour crisis between the National Identity Management Commission and the Association of Senior Civil Servants of Nigeria. Deputy Director of Press, Federal Ministry of Labour and...

  • Posted June 21, 2015
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  Power failure: Nigerians burn N17.5tn fuel on generators in five years

  Despite the huge government investment in the power sector in the last 16 years, Nigeria has only succeeded in mustering an installed electricity generation capacity of 10,000 megawatts. Yet, the country operates at about 30 per cent...

  • Posted June 21, 2015
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  CBN, banks meet on Forex rules to avert JPMorgan ejection

  In a bid to forestall JPMorgan’s warning that it shall remove Nigeria from its Government Bond Index (GBI-EM) by the end of the year, the Central Bank of Nigeria (CBN) will today meet with chief executives and...

  • Posted June 20, 2015
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  Dangote takes cement empire to Asia

  Africa’s richest man, Alhaji Aliko Dangote, has said he is expanding his cement empire to Asia and it will be operational in 30 months. The 58-year-old Nigerian billionaire said Dangote Cement Plc should complete a factory in...

  • Posted June 20, 2015
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  Lafarge loses N2.5bn in six months to insurgency in North-East

  Group Managing Director/Chief Executive, Lafarge Africa, Mr. Guillaume Roux has revealed that the company incurred financial losses of about N2.5 billion as a result of the insurgency in the north-east region of the country. He said the...

  • Posted June 20, 2015
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  Airline operators seek financial bailout from Government

  Nigerian domestic carriers are requesting for financial bailout from the federal government due to losses they incurred during the recent fuel crisis and hostile operating environment, THISDAY investigation has revealed. A highly placed aviation industry source, hinted...

  • Posted June 20, 2015
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  Banks record N23.3bn fraud in nine months

  Deposit Money Banks recorded a total of 8,502 fraud cases between January and September 2014, amounting to N23.34bn, the Managing Director/ Chief Executive Officer, Mr. Henry Semenitari, said on Thursday, quoting the latest FITC Report on Frauds...

  • Posted June 20, 2015
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  Delayed cabinet: Stock market investors lose N238bn

  The delay by President Muhammadu Buhari in appointing ministers and other key officials as well as the lack of clear information about his government’s policy direction have been major deterrents to investment in the nation’s capital market....

  • Posted June 20, 2015
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  CBN not worried about state of power firms

  The current state of the power generation and distribution companies privatised over one year ago is not making the Central Bank of Nigeria to lose sleep yet. The Director, Corporate Communications, CBN, Alhaji Muazu Ibrahim, told our...

  • Posted June 20, 2015
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