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All posts by BusinessNews Staff

  • NCC to auction broadband frequency May 5

    The Nigerian Communications Commission on Wednesday said it would on May 5 auction 14 slots of the 2.6GHz frequency for broadband communication services across the country. At a press briefing in Abuja, the regulatory agency said the...

    • Posted March 20, 2015
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  • Operators panic over low oil prices

    International and local operators in the Nigerian petroleum sector on Wednesday declared that there was palpable fear in the industry as a result of the current low prices of crude oil in the global market. According to...

    • Posted March 20, 2015
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  • Software upgrade: 35 million ATM cards at risk

    Microsoft Nigeria on Wednesday announced July 14, 2015 as the expiry date for its Windows Server 2003 Operating System, which powers over 35 million payment cards, popularly known as Automated Teller Machine cards, currently in circulation in...

    • Posted March 20, 2015
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  • Filling stations make N184m profit daily on petrol

    Filling stations across the country make approximately N184m profit daily from the sales of Premium Motor Spirit (otherwise called petrol). They are making N4.60 on every litre of petrol sold to final consumers, according to the Petroleum...

    • Posted March 20, 2015
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  • IOCs seek fresh negotiations with FG on funding for oil and gas projects

    In a bid to address the shortfall in funding arising from the drop in the price of crude oil, the joint venture partners of the Nigerian National Petroleum Corporation (NNPC) have called for fresh negotiations with the...

    • Posted March 20, 2015
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  • GTBank gets $175m loan from IFC

    The International Finance Corporation (IFC) has lent $175 million to Guaranty Trust Bank (GTBank) to expand its lending portfolio in Africa’s biggest economy, the private arm of the World Bank said on Tuesday. The IFC said the...

    • Posted March 19, 2015
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  • Algeria in talks with Nigeria, Angola over oil price slump

    As OIL PRICES head south with rising inventories in the US, Algeria’s Energy Minister Youcef Yousfi has opened up discussions on possible responses to the continued decline in OIL PRICES with fellow Organisation of the Petroleum Exporting...

    • Posted March 19, 2015
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  • Dangote Lagos refinery ready in 2017

    Dangote’s 500,000 barrels per day capacity refinery would start operations in Nigeria by 2017, the firm confirmed on Tuesday. The new refinery, which is worth $9bn, is to be situated in the Lagos area. The spokesperson for...

    • Posted March 19, 2015
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  • SEC plans new rules to make market more attractive

    The Board of the Securities and Exchange Commission (SEC) has given the go-ahead to the management of the commission to come out with new rules that will make the market more efficient and attractive to investors and...

    • Posted March 19, 2015
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  • Access Bank splashes N13.7bn on shareholders

    Access Bank last week became the third bank to announce its 2014 results, putting a smile on the faces of its shareholders, writes Goddy Egene The sluggish performance of the nation’s stock market may be a source...

    • Posted March 19, 2015
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