All posts by BusinessNews Staff

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  FG establishes Power Sector Intervention Fund

  The Federal Government on Monday approved the establishment of Power Sector Intervention Fund with initial deposit of N300 billion to facilitate speedy development of the nation’s power sector. President Goodluck Jonathan made this known at an International...

  • Posted February 11, 2014
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  NSE activities close low on Monday, as market indicators drop by 0.31%

  Equity transactions on the Nigerian Stock Exchange (NSE), on Monday, opened for the week in a downward trend with the market indices dropping marginally by 0.31 per cent. The News Agency of Nigeria (NAN) reports that the...

  • Posted February 11, 2014
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• FG will not re-concession Lagos-Ibadan expressway – Onolememen

  The Minister of Works, Mr Mike Onolememen, on Monday said that the Federal Government had no intention to re-concession the Lagos-Ibadan expressway project. Onolememen said while on inspection tour of the two sections of the project that...

  • Posted February 11, 2014
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  Stakeholders identify conflict of interest as major impediment at Nigeria ports

  Some maritime stakeholders have identified conflict of interest among the service providers and port users was part of the impediments at the nation’s ports. They told the News Agency of Nigeria (NAN) in Lagos on Monday that...

  • Posted February 10, 2014
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  FG will build two power transmission stations in Ebonyi – Official

  The Federal Government said it would build two transmission stations in Abakaliki to enhance power delivery in the area. The General Manager (Transmission), Enugu Transmission Region, Mr Geoffrey Nwokoye, made this known when he paid a courtesy...

  • Posted February 10, 2014
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  NPA moves to decongest roads within Lagos ports

  The Nigerian Ports Authority (NPA) on Monday descried the high number of abandoned broken down trucks within Lagos ports. The port management said that abandoned trucks were impeding the flow of traffic and prompt delivery of imported...

  • Posted February 10, 2014
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  NNPC repairs damaged gas pipeline

  The Nigerian National Petroleum Corporation (NNPC) said it had repaired the sections of the sabotaged Escravos-Lagos Gas Pipeline Network (ELPS) leading to significant boost in electricity generation. This is contained in a statement issued in Abuja on...

  • Posted February 10, 2014
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  Lagos State Government shuts 8 firms over non-remittance of N66.7m tax

  The Lagos State Internal Revenue Service (LIRS), says it has sealed eight more companies for failing to remit N66.7 million personal income tax of their workers to the state government. Mrs Folasade Coker-Afolayan, Head of the Distrain...

  • Posted February 9, 2014
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  DISCOs blame TCN for poor power delivery

  Some top management staff of the Electricity Distribution Companies (DISCOs) on Friday blamed the ongoing nationwide epileptic power supply on the inability of the Transmission Company of Nigeria (TCN) to meet energy demands. The officials, who pleaded...

  • Posted February 8, 2014
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  Ondo Government deploys GIS to monitor its forest reserves

  Ondo State Government has employed a technological device, known as Geographical Information System (GIS), to monitor its various forest reserves across the state. Mr Tunde Atere, Commissioner for Natural Resources, disclosed this to journalists in Akure on...

  • Posted February 7, 2014
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