All posts by BusinessNews Staff

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  FG, states to cut cost over oil slump

  The Federal Ministry of Finance, the commissioners of finance and accountants-general of the 36 states of the federation have begun moves to reduce the high cost of governance in the country following the continuous decline in crude...

  • Posted January 29, 2015
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  Power generation drops by 2,042MW

  The country is currently losing 2,042.2 megawatts of electricity due to gas supply shortage and poor water management. The 411 G2 and G4 units of the Shiroro hydro power plant are currently losing 300MW, while the loss...

  • Posted January 29, 2015
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  Immigration earns N12bn from e-passports

  The Nigeria Immigration Service said on Tuesday that it generated N12.2bn from the issuance of e-passports to citizens in 2014. This was just as it inaugurated an electronic platform to block revenue leakages and enforce accountability and...

  • Posted January 29, 2015
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  Total completes gas pipeline for Alaoji power plant

  Total Exploration and Production Nigeria Limited on Tuesday announced that a section of its Northern Option Pipeline that would supply gas to the National Integrated Power Plant at Alaoji in Abia State had been completed. According to...

  • Posted January 29, 2015
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  LCCI, OPS fret over Private Companies Conversion Bill

  The Lagos Chamber of Commerce and Industry (LCCI) and the Organised Private Sector (OPS) have once more expressed concerns over the proposed bill to compel private companies to convert to Public Limited Companies (PLC), noting that the...

  • Posted January 29, 2015
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  NNPC to eliminate illicit kerosene trade with new scheme

  The Nigerian National Petroleum Corporation (NNPC) has said that its deployment of a new direct-sales scheme termed ‘kero-correct’ in the sale of household kerosene to domestic consumers would finally put an end to the operation of ‘black...

  • Posted January 28, 2015
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  Nigeria signs pact with US firm to build 250MW power plant

  Again, the federal government has signed an agreement with American firm, Missouri American Energy, for the construction of a 250-megawatt (MW) power plant in Nigeria. Signing the agreement in Abuja, Minister of Power, Prof. Chinedu Nebo said...

  • Posted January 28, 2015
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  Politicians’ demand for dollars puts pressure on naira

  There are indications that the naira, which hit 208 against the United States dollar on the streets of Lagos on Friday, may drop further as politicians seek more of the greenback to fund campaigns few weeks to...

  • Posted January 28, 2015
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  Relief as NNPC’s Forcados Pipeline resumes operations

  Nigerians will experience relief in power supply as the Trans-Forcados oil pipeline, which transports crude oil to an export terminal and gas to power stations, resumed operations after one week of closure. The closure of the pipeline...

  • Posted January 28, 2015
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  FG accuses distribution companies of rejecting power allocations

  As Nigerians grapple with the challenges of inadequate electricity supply, the federal government has accused some electricity distribution companies of rejecting power allocated to them for distribution to customers. Speaking during a recent visit to the Corporate...

  • Posted January 28, 2015
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