All posts by BusinessNews Staff

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  Nigeria’s oil production falls most among OPEC members

  Still smarting from the plunge in revenue, Nigeria saw the highest drop in crude oil production in March among its peers in the Organisation of Petroleum Exporting Countries, the latest monthly report from the 12-member oil cartel...

  • Posted April 18, 2015
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  Power: NERC to Punish Abuja Disco for Fleecing ConsumersPower: NERC to punish Abuja Disco for fleecing consumers

  For allegedly abusing the statutory methodology approved for billing customers under the estimated billing system, the Nigerian Electricity Regulatory Commission (NERC) has served the Abuja Electricity Distribution Company (AEDC) with a notice of enforcement action against it....

  • Posted April 18, 2015
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  House of the Week: A beautiful 4-bedroom house for sale at Asokoro, Abuja

  Our featured house of the week is a 4 bedroom house for sale at Asokoro, Abuja. This property has 4 bedrooms, 4 bedrooms, 2 lounges and 1 dining area. In this house, all rooms have en suite...

  • Posted April 17, 2015
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  World Bank Report reveals drop in number of unbanked

  A World Bank report has revealed that 700 million people became account holders at banks, other financial institutions, or mobile money service providers between 2011 and 2014. The report released yesterday also showed that the number of...

  • Posted April 17, 2015
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  UBA’s profit rises by 35% in First Quarter

  The United Bank for Africa (UBA) Plc’s unaudited 2015 first quarter (Q1) results show that the bank’s profit after tax increased by 35 per cent to N17 billion, from N12.6 billion recorded in the corresponding period of...

  • Posted April 17, 2015
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  NNPC blames fuel scarcity on elections, threatens hoarders

  The Nigerian National Petroleum Corporation has blamed the prolonged fuel scarcity experienced in Kaduna and Nasarawa states and the Federal Capital Territory on the recently concluded general elections. It also threatened to sanction marketers who hoard and...

  • Posted April 17, 2015
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  Lagos Government puts IGR at N23bn monthly, drags 686 tax defaulters to court

  The Lagos State Government disclosed on Wednesday that it had instituted 686 legal actions before different high courts in the state against corporate bodies and other private entities for allegedly defaulting in remitting their taxes to the...

  • Posted April 17, 2015
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  IMF tasks Nigeria on fiscal reforms, subsidy

  The International Monetary Fund (IMF), has advised the federal government to adopt a stringent approach on public spending to ameliorate the adverse effects of plummeting  oil price on the  citizens. Fiscal prudence and removal of all forms...

  • Posted April 17, 2015
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  Power investors jittery over new goverment

  A wave of anxiety has descended on some private investors, who bought the successor electricity generation and distribution companies unbundled from the defunct Power Holding Company of Nigeria, following the emergence of Maj.-Gen. Muhammadu Buhari (retd) as...

  • Posted April 17, 2015
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  Inflation rises for four consecutive months, hits 8.5%

  The National Bureau of Statistics on Thursday released the Consumer Price Index for the month of March 2014, stating that the index had shown that inflation rate had risen by 8.5 per cent. The March increase in...

  • Posted April 17, 2015
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