All posts by BusinessNews Staff

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  NIPP power stations ready to generate 2,910MW – Report

  A Status Report presented to the 31st Meeting of the Board of Directors of the Niger Delta Power Holding Company (NDPHC) held on April 17, 2015 has revealed that power stations built under the National Integrated Power...

  • Posted April 30, 2015
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  NNPC advocates quick reform to mitigate oil revenue erosion

  The Nigerian National Petroleum Corporation (NNPC) has proposed immediate reforms that would reduce Nigeria’s seeming over reliance on oil revenue to offset over 85 per cent of her national expenditure. NNPC explained that a structural reform of...

  • Posted April 30, 2015
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  UBA on path to improved profitability, management assures shareholders

  Pan-African financial services group, United Bank for Africa (UBA) Plc’s significant 36 per cent growth in the first quarter pre-tax profit is a clear indication that the bank is firmly on the path to delivering improved returns...

  • Posted April 29, 2015
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  FG hands over NITEL/MTEL to NATCOM consortium

  As part of its efforts to revamp the telecommunication sector, the federal government, yesterday, handed over the Nigerian Telecommunication Plc (NITEL) and Nigerian Mobile Telecommunications (MTEL) to its preferred bidder, the NATCOM Consortium after five failed attempts...

  • Posted April 29, 2015
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  IFC, Zenith Bank sign $100million facility

  A member of the World Bank Group, International Finance Corporation (IFC), signed an agreement to provide a $100 million loan facility to Zenith Bank Plc, yesterday, in a bid to increase its lending to a variety of...

  • Posted April 29, 2015
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  All-share index sheds 0.5% as bear run persists

  Trading on the Nigerian bourse closed on a negative note yesterday as the bearish trend persisted. The Nigerian  Stock Exchange (NSE) All-share Index declined by 0.5 per cent to close at 34,317.72. Similarly,  market capitalisation shed N88.2...

  • Posted April 29, 2015
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  Power: NERC says consumers can question operators

  To effectively address complaints arising from electricity tariff setting, metering and billing by power firms, consumers must be organised and should challenge the operators in the sector, the Nigerian Electricity Regulatory Commission has said. It said there...

  • Posted April 29, 2015
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  FCMB records N5.8bn Q1 profit

  The First City Monument Bank (FCMB) Group Plc said it posted a profit before tax (PBT) of N5.8 billion in the first quarter ended 31 March 2015. This represents an increase by four per cent, compared with...

  • Posted April 29, 2015
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  Scarcity of petrol hits private depots in Lagos

  There are strong indications that a nationwide scarcity of petrol is imminent as all the private depots in Lagos were at the weekend hit by scarcity of the product, raising concern on the ability of the Nigerian...

  • Posted April 29, 2015
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  FG hands over NITEL to core investor

  After fourteen years and five failed attempts to sell the Nigerian Telecommunications Limited, the Federal Government on Tuesday finally handed over the beleaguered first national telecommunications company to new core investor, NATCOM Consortium. At a ceremony attended...

  • Posted April 29, 2015
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