All posts by BusinessNews Staff

• First Bank stakes $3.3 billion on oil, gas projects

  FIRST Bank of Nigeria Plc expended over $3.3 billion (N500 billion) in the financing of various oil and gas projects in Nigeria last year. This financing package represents 37.40 per cent of the bank’s portfolio. The amount,...

  • Posted May 10, 2013
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  FG has signed $51.8bn MoU for construction of 10 new refineries – Allison-Madueke

  Diezani Allison-Madueke, Minister of Petroleum Resources disclosed that Federal Government has signed $51.8 billion or N8.1 trillion worth of Memorandum of Understanding (MoU) with various local and international investors between 2011 and 2012 for the construction of...

  • Posted May 10, 2013
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  FCTA to relocate NTA headquarters to befitting location – Minister

  Federal Capital Territory Administration (FCTA), today, Thursday, unveiled plans to relocate the headquarters of the Nigerian Television Authority (NTA) to a prime; suitable and befitting plot of land within the nation’s capital city. Bala Mohammed, FCT Minister...

  • Posted May 9, 2013
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  Flood prevention: NOA’s initiative gets NEMA’s nod

  The National Emergency Management Agency (NEMA) is the latest stakeholder to endorse the National Orientation Agency (NOA)’s initiative aimed at imbibing a set of new refuse management behavior to mitigate occurrence of flood disaster in the country....

  • Posted May 9, 2013
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  New industrial plan to encourage greater foreign investment in Nigeria is coming – Jonathan

  President GoodlucK Jonathan has said that the Federal Government is working on a national industrial revolution plan to further encourage investors and local production. President Jonathan was speaking to a delegation of Nissan South Africa in Cape...

  • Posted May 9, 2013
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  NIMASA: Reps to probe N40bn Cabotage fund lodged in commercial banks

  House of Representatives today, Wednesday, unveiled plan to probe over N40 billion Cabotage Vessel Financing Fund (CVFF ), allegedly trapped in some commercial banks. The adhoc committee was mandated to determine the total amount that had been...

  • Posted May 9, 2013
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  FG installs 906 CCTV cameras in Lagos

  The Federal Government has installed no fewer than 906 Close Circuit TV cameras in strategic parts of Lagos State to enhance security surveillance, the Commissioner for Science and Technology, Mr. Adebiyi Mabadeje, said on Wednesday. Mabadeje announced...

  • Posted May 9, 2013
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  Full text of President Jonathan’s speech at Infrastructure Summit, World Economic Forum, South Africa today

  Excellencies Distinguished Ladies and Gentlemen, 1. I am delighted to be here with you today and to have the opportunity to make a few remarks on infrastructure, which is a major challenge facing the African continent. I...

  • Posted May 8, 2013
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  Tourism on the Plateau can generate $75 billion revenue for the state annually – Kwapnoe

  The vice Captain of Lamingo Golf Club, Jos, Mr Alex Kwapnoe has said that according to Nigerian Tourism Development Commission,NTDC, Plateau State has the potential to generate 75 billion dollars annually from tourism, if properly harnessed. He...

  • Posted May 8, 2013
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  Three arrested for alleged visa scam

  Police detectives attached to the Special Fraud Unit, SFU,have arrested three suspected fraudsters for forging international health insurance certificates to obtain visas at the Italian embassy in Nigeria. It was gathered from the Police Public Relations Officer,...

  • Posted May 8, 2013
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