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All posts by BusinessNews Staff

  • FG to invest $1.6bn in power transmission

    The Federal Government on Thursday said it would invest 1.6 billion dollars to upgrade and expand the power transmission network. The Minister of Power, Prof. Chinedu Nebo, made this known when a delegation of the Bankers’ Forum...

    • Posted June 18, 2014
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  • AfDB approves $300m loan for Dangote Group

    The board of directors of the African Development Bank (AfDB) has approved a $300 million loan facility for Dangote Group to enable the conglomerate to boost fuel supply and fertiliser production in Nigeria. This is contained in...

    • Posted June 18, 2014
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  • FAAC: FG, States, LGs share N683.9bn for May

    The Accountant-General of the Federation (AGF), Mr Jonah Otunla, said N683.9 billion was shared among the Federal Government, states and local governments as revenue for the month of May. Otunla made this known when he briefed newsmen...

    • Posted June 18, 2014
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  • Enugu NNPC depot to begin operations in July – PPMC

    Mr Haruna Momoh, the Managing Director of Pipeline and Products Marketing Company (PPMC), said the NNPC depot in Enugu State would commence operations and discharge of petroleum products in July. Momoh made the disclosure on Tuesday in...

    • Posted June 18, 2014
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  • FBN Holdings moves to acquire merchant banking licence

    FBN Holdings Plc says it is making arrangement to acquire a merchant banking licence through their Investment Banking and Management subsidiary. FBN Holdings Group Chief Executive Officer Mr Bello Maccido made the announcement on Monday in Lagos...

    • Posted June 17, 2014
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  • Suspected vandals trigger leakage in Shell’s oil field

    The activities of suspected vandals at Shell’s Okordia Manifold at Ikarama community, Bayelsa, has triggered leakage of crude into the surroundings near the facility reports News Agency of Nigeria (NAN). Community sources at Ikarama in Yenagoa Local...

    • Posted June 17, 2014
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  • Market capitalisation dips by N22bn on NSE

    The market capitalisation of the Nigerian Stock Exchange (NSE) depreciated by N22 billion or 0.16 per cent on Monday, as major capitalised stocks recorded price losses. The News Agency of Nigerian (NAN) reports that the market capitalisation...

    • Posted June 17, 2014
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  • FG approves early release of Q3 petrol allocation

    The Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, has approved the release of third quarter (Q3) import allocations for Premium Motor Spirit (PMS) or petrol. Mr Farouk Ahmed, Executive Secretary, Petroleum Products Pricing and Regulatory Agency (PPPRA),...

    • Posted June 15, 2014
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  • NSE: Capital market indices grow by 0.69%

    Activities on the Nigerian Stock Exchange (NSE) closed upbeat on Friday with the All- Share Index improving by 0.69 per cent. The News Agency of Nigeria (NAN) reports that the index grew by 288.44 points to close...

    • Posted June 14, 2014
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  • NSE market indices dip by 0.22% in spite higher turnover

    Activities on the Nigerian Stock Exchange (NSE) ended on a depressed note on Tuesday as the market capitalisation dipped by 0.21 per cent in spite higher volume of transactions. The News Agency of Nigeria (NAN) reports that...

    • Posted June 10, 2014
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