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All posts by BusinessNews Staff

  • Nissan produces Almera, NP300 in Nigeria

    Nissan says it has begun the production of Almera and NP300 in its factory in Nigeria, alongside the prestigious Nissan Patrol. The first made-in-Nigeria Patrol rolled off the production line in April after the plant was prepared...

    • Posted November 20, 2014
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  • Access Bank, FMO sign $30m facility for women empowerment

    Access Bank Plc and Netherlands Development Finance Company (FMO) have signed an agreement on a $30million facility for on-lending to female owners of small and medium scale enterprises (SMEs) in Nigeria. The line of credit would provide...

    • Posted November 20, 2014
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  • Blue chip stocks gains sustain stock market rally

    The Nigerian equities market opened the week on a positive note yesterday as the Nigerian Stock Exchange (NSE) All-Share Index or ASI appreciated by 0.30 per cent to close at 35,488.80 points, compared with the appreciation of...

    • Posted November 19, 2014
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  • NERC to clampdown on recalcitrant Discos over prepaid meters

    The Nigerian Electricity Regulatory Commission (NERC) is set to clampdown on electricity distribution companies that have failed to comply with its substitute order on meter provision, within the Credited Advance Payment for Metering Implementation (CAPMI) scheme. NERC’s...

    • Posted November 19, 2014
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  • Dangote refinery to begin operation 2018

    Indication emerged on Monday that Dangote Group’s oil refinery project for Nigeria would come on stream in 2018. The Director of Petroleum Refining, Dangote Industries, Mr. George Nicolaides, said in an interview at the Platts African Refining...

    • Posted November 19, 2014
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  • Oando grows profit by 83% to N11bn

    Oando Plc, a leading integrated energy firm yesterday reported its nine months results ended September 30, 2014, showing a growth of 83 per cent in net profit. The company, which recently acquired Nigerian assets of ConocoPhillips(COP) to...

    • Posted November 19, 2014
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  • Jonathan launches $50m Venture Capital Fund, fourth phase of YouWin

    President Goodluck Jonathan monday inaugurated a $50 million private equity fund for the expansion of business opportunities by the small and medium enterprises in order to boost job creation in the country. Jonathan also launched the fourth...

    • Posted November 19, 2014
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  • CBN meets bank MDs as naira crashes

    The naira, which has been under pressure in the last few weeks, on Monday crashed against the dollar to N173.20 at the interbank market, causing panic in the financial sector. There are also indications that this has...

    • Posted November 19, 2014
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  • Fuel subsidy to reduce by N600bn

    On the flip side of the decline in crude oil prices, which has affected the country’s revenue from oil exports, analysts expect the Federal Government’s spending on fuel subsidy to reduce by up to N600bn this year....

    • Posted November 19, 2014
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  • Smartphone usage in Nigeria still low – NCC

    The penetration of smartphones in Nigeria has been described as disappointing given the size of the country’s population and the proliferation of digital activities. The Executive Vice-Chairman, Nigerian Communications Commission, Dr. Eugene Juwah, said this at the...

    • Posted November 19, 2014
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