All posts by BusinessNews Staff

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  CPC to prosecute companies for consumer rights abuse

  The Director-General, Consumer Protection Council, Mrs. Dupe Atoki, has decried the high rate of consumer rights abuses in the telecommunications, aviation, banking and power sectors of the Nigerian economy. Atoki said the prevalence of consumer abuses in...

  • Posted March 25, 2015
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  All dams to produce electricity – FG

  To boost electricity generation in the country, the Federal Government on Monday said it would attach hydropower components to all dams across the country. The Minister of Water Resources, Mrs. Sarah Ochekpe, said the hydropower components would...

  • Posted March 25, 2015
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  Development bank begins operation with N300bn

  President Goodluck Jonathan on Monday formally inaugurated the Development Bank of Nigeria with a capital base of $1.5bn (about N300bn). The bank is being supported by development partners such as the African Development Bank, World Bank, Agence...

  • Posted March 25, 2015
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  Nigeria’s rating downgrade threatens Bond rally

  A rally that made Nigerian bonds the best performers in Africa in March risks coming to an end as the credit rating of the continent’s biggest economy slides deeper into junk. Standard & Poor’s lowered its assessment...

  • Posted March 25, 2015
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  CBN likely to hold interest rate

  The Central Bank of Nigeria (CBN) which commences its second monetary policy committee (MPC) meeting for the year this Monday, is likely to maintain interest rate and other monetary policy tools. The committee is expected to consider...

  • Posted March 24, 2015
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  FG’s revenue may decline by 25% this quarter

  Nigeria’s federally collected revenue is likely to decline further by about 25 per cent this quarter, the chief executive officer, Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane has predicted. Rewane said the declining revenue will serve...

  • Posted March 24, 2015
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  Dangote’s oil refinery to process 650,000bpd

  Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, has said his oil refinery will process 650,000 barrels of crude oil per day. The completion of the plant, expected to come on stream in 2017, will...

  • Posted March 24, 2015
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  Customs issues ultimatum on clearance of 2014 consignments

  The Nigeria Customs Service (NCS) has directed importers to clear vehicles and other goods imported into the country between January and December last year within two weeks. Both Tin Can Island and PTML Commands of the Customs...

  • Posted March 24, 2015
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  FG set to begin disbursement of N220bn MSME Fund

  The federal government has commenced screening of Nigerian youths for entrepreneurship training with the launch at the weekend of the Youths Entrepreneurship Strategy (YES) in Oil and Gas Industry. Part of the N220 billion set aside for...

  • Posted March 24, 2015
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  Expert faults electricity tariff cut

  The 50 per cent reduction in electricity tariff by the Nigerian Electricity Regulatory Commission is politically wise but makes no business sense, economists and power sector experts have said. According to them, the decision will result in...

  • Posted March 24, 2015
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