All posts by BusinessNews Staff

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  Stanbic IBTC Holdings’ faltering performance makes analysts cut earnings forecast

  A weaker-than-expected performance in both Stanbic IBTC Holdings’ bottomlines have led analysts to cut their earnings forecast as the lender recorded drastic fall in profit. For the first three months through March 2015, Stanbic Holdings net income...

  • Posted May 8, 2015
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  Microfinance bank operators debunk allegations of selective loaning

  Some Microfinance Bank operators on Thursday in Lagos debunked allegations of discrimination against elderly Nigerians interested in accessing comfort and development loans. The operators debunked the claim in an interview. They said that their operations was moderated...

  • Posted May 8, 2015
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  FLSmidth, Dangote Cement terminates O&M contracts on two plants

  Danish firm, FLSmidth, has announced it has reached an agreement with Dangote Cement to end the operation and maintenance collaboration on the Ibese and Obajana plants. The company said the move was taken due to changes in...

  • Posted May 8, 2015
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  NCC says Nigeria will achieve 30% broadband penetration by 2018

  Dr Eugene Juwah, the Executive Vice-Chairman, Nigerian Communications Commission (NCC), has said that the country will achieve up to 30 per cent broadband penetration by 2018. Juwah made the statement in Abuja on Thursday while sensitising journalists...

  • Posted May 8, 2015
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  FG begins process to concession Nigeria Railways

  The Bureau of Public Enterprises (BPE) is developing a roadmap to concession the Nigeria Railway Corporation (NRC), a statement issued by the Head, Public Communications, Alex Okoh, said on Thursday. It stated that BPE would be developing...

  • Posted May 8, 2015
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  CBN recertifies 74 additional BDCs Operators

  The Central Bank of Nigeria (CBN) has again re-certified 74 more Bureaux De Change (BDCs) operators to continue in operation. Daily Independent reports that this brings the total number of BDCs that have so far met the...

  • Posted May 7, 2015
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  Plastic sub-sector to grow by 7% by 2025

  The plastic subsector is expected to grow by seven percent over the next ten years, just as a positive outlook is projected for the packaging industry due to increased market demand and sophistication of the Nigerian consumers....

  • Posted May 7, 2015
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  External reserves can’t pay for more than 3 months of imports

  The nation’s foreign exchange reserves fell one per cent month-on-month to $29.5 billion by April 28, from $29.8 billion a month earlier, the central bank said weekend. This implies that the reserves at the current rate of...

  • Posted May 7, 2015
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  Digital oilfield offers new model for production optimization

  Technology continues to evolve at a record pace, causing oil and gas producers to increasingly rely on a secure, robust communication network to support exploration, production, and wellhead operations. Transitioning to a digital oilfield is paramount for...

  • Posted May 7, 2015
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  Globacom tables $600m for Ivorian telco in regional expansion push

  Competition in West Africa’s telecommunications market is expected to intensify following plans by Globacom, Nigeria’s national carrier, to acquire Ivorian mobile operator, Comium Cote d’Ivoire, in a $600 million deal, informed sources have said. Globacom, owned by...

  • Posted May 7, 2015
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