All posts by BusinessNews Staff

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  Economy under threat as oil price falls below $73

  Efforts by Nigeria and four other members of the Organisation of Petroleum Exporting Countries to see a reduction in oil production to revive falling oil prices proved abortive on Thursday as the 12-member cartel decided to maintain...

  • Posted November 29, 2014
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  Nigeria employs satellite to chase $1bn gas flaring fines

  Nigeria has started using a satellite tracking system to help it bring in more than $1 billion a year in fines which it could charge for illegal gas flaring. The new gas flare tracker is an online...

  • Posted November 29, 2014
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  Cargo throughput increases in third quarter

  Cargo throughput in the nation’s seaports has increased  by 12.5 per cent in the third quarter of this year, the Nigerian Ports Authority (NPA) has said. Data collated by the authority and obtained by THISDAY showed that...

  • Posted November 29, 2014
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  FG signs $1bn MoU on 1,000MW plant

  The Federal Government has signed a $1bn Memorandum of Understanding with Strancton Limited for the construction of a 1,000 megawatts power plant in Katsina State. It also signed another MoU with Greenville Oil and Gas Limited for...

  • Posted November 29, 2014
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  FG saves N171bn from technology agreements

  The Federal Government has saved N171.85bn in the past five years through the scrutiny of technology transfer agreements entered into between organisations in Nigeria and foreign entities. The Minister of Science and Technology, Dr. Abdu Bulama, disclosed...

  • Posted November 29, 2014
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  Telcos get January deadline for compensation

  The Nigerian Communications Commission has issued an ultimatum to telecommunications operators to articulate their compensation plan before the end of January 2015. The Director of Consumer Affairs Bureau at the regulatory agency, Mrs. Maryam Bayi, disclosed this...

  • Posted November 29, 2014
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  Naira devaluation unlikely to depress stocks further – Operators

  Some capital market operators have said the devaluation of the naira by the Central Bank of Nigeria may not depress the equities market, which has endured a turbulent year, further. According them, the market has already declined...

  • Posted November 29, 2014
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  Products imported into Nigeria to carry fresh certification marks from 2015 – SON

  The Standards Organisation of Nigeria (SON) in Thursday said discussions were in the final stages to ensure that from 2015, all imported products would carry the Nigerian Industrial Standard (NIS) mark to curb the menace of substandard...

  • Posted November 29, 2014
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  CBN warns against counterfeiting of naira

  The Central Bank of Nigeria (CBN) in its resolve to sustain stakeholder confidence in the country’s currency has commenced the education of Nigerians on the incorporated security features of the naira, even as it warned culprits to...

  • Posted November 28, 2014
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  Arik Airline increases flight frequency on domestic routes

  The Managing Director, Arik Airline, Mr Chris Ndulue, on Wednesday said the airline had increased its flights on the Enugu, Benin, Calabar and Ibadan routes to cope with passenger demand. Ndulue spoke in an interview with the...

  • Posted November 28, 2014
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