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All posts by BusinessNews Staff

  • More austerity measures coming – Okonjo-Iweala

    Following the continuous decline of the price of crude oil in the international market, the Federal Government on Thursday said it was preparing additional measures to mitigate the impact of the price drop on the Nigerian economy....

    • Posted January 17, 2015
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  • NNPC’s Port Harcourt Refinery Company nets N11.2bn profit

    The Port Harcourt Refining Company (PHRC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has announced a record net profit of N11.2 billion for last December, representing N8.2 billion or 250 per cent above the N3.2...

    • Posted January 17, 2015
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  • Fitch: Nigeria, others risk downgrade if oil doesn’t recover

    There are likely to be credit rating downgrades for Nigeria and other oil producing countries if prices of crude oil do not recover, global rating firm, Fitch said yesterday. “If oil prices fail to recover from current...

    • Posted January 17, 2015
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  • Power: FG to buy one million meters

    President Goodluck Jonathan has approved funds for the procurement of one million electricity meters. This is coming as the Federal Government on Thursday shifted its earlier target of generating 6,000MW of electricity before the end of 2014...

    • Posted January 17, 2015
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  • Foreign investors withdraw N793bn from stock market

    Foreign investors, alarmed by the economic and political risks in the country, pulled out N793.17bn from the Nigerian Stock Exchange between January and November 2014. The figure represents 67.5 per cent increase on the N473.61bn foreign portfolio...

    • Posted January 17, 2015
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  • Workers’ redeployment to improve market regulation – SEC

    The management of the Securities and Exchange Commission on Thursday said the redeployment of workers, which was done on Wednesday, was meant to improve the regulation of the capital market. SEC stated in a statement issued in...

    • Posted January 17, 2015
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  • FG sets up panel on infrastructure

    The Federal Government on Thursday inaugurated an inter-ministerial committee for the formal inauguration of the National Integrated Infrastructure Master Plan by President Goodluck Jonathan in the next few weeks. The NIIMP, which is a comprehensive development plan...

    • Posted January 17, 2015
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  • SEPLAT Petroleum refinances existing debt facilities

    Few days after its crude oil production was impacted by the recent acts of vandalism on the Trans Forcados Pipeline network, SEPLAT Petroleum Development Company Plc has stated that it has successfully refinanced its existing debt facilities...

    • Posted January 17, 2015
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  • House of the Week: A spectacular 5-bedroom detached house in Asokoro, Abuja

    Our house of the week is a 5 bedroom detached house for rent in Asokoro, Abuja. This property features 5 bedrooms, 5 bathrooms, 2 dining areas and 3 lounges. The entire interior has exquisite POP ceilings, high...

    • Posted January 16, 2015
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  • Access Bank opens Representative Office in China

    The bank explained in a statement on Wednesday that the move was part of its efforts towards becoming the world’s most respected African bank. It said the development affirmed its commitment to socio-economic development of the continent...

    • Posted January 16, 2015
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