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All posts by BusinessNews Staff

  • Sanusi Didn’t Buy N1 Billion Home in Abuja – CBN

    Central Bank of Nigeria (CBN) has said that its governor Malam Sanusi Lamido Sanusi, didn’t buy a billion naira property in Abuja as speculated in the media. This was disclosed in a press statement signed by the...

    • Posted December 2, 2011
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  • House of Representatives Passes Fiscal Plan, No Subsidy Removal

    Nigeria’s House of Representatives on Thursday approved the government’s medium-term fiscal framework (MTFF) but refused to include plans to remove fuel import subsidies in a major setback for the controversial proposal. Ngozi Okonjo-Iweala, the finance minister and coordinator of...

    • Posted December 2, 2011
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  • Dangote Cement Signs Contract to Expand Ibese Plant

    Dangote Cement Plc , Nigeria’s biggest company by market value, signed a contract to expand its Ibese plant, Chief Operating Officer Joseph Makoju said. The expansion will double output at the 6 million-metric ton plant in southwestern Nigeria,...

    • Posted December 2, 2011
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  • Ahmadu Bello University to Create the Most Sophisticated Campus Network in Nigeria

    Cisco announced  that MEED Networks in Nigeria is to deploy a Cisco Borderless Network architecture at Ahmadu Bello University (ABU), the largest university in Nigeria and second largest in Africa, second only to Cairo University in Egypt. ABU is...

    • Posted December 2, 2011
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  • King of Bling Takes Wares On Road Trip To Abuja For National Elite

    A bizarre mix of pop stars, oil moguls and politicians swigged champagne and danced into the night in Nigeria’s capital at a launch party for Chris Aire, Nigerian jewellery designer to the stars, nicknamed “The King of...

    • Posted November 30, 2011
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  • Arik Air Readies To Resume Abuja-London Flights

    A month after it suspended flights between Nnamdi Azikiwe International Airport and London- Heathrow Airport, Arik 　Air said yesterday that it is set to resume operations by December 12, this year. According to the airline’s Chairman, Sir...

    • Posted November 30, 2011
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  • Facebook Said to Plan IPO at $100B Valuation

    By Douglas MacMillan and Brian Womack  Facebook Inc. is considering raising about $10 billion in an initial public offering that would value the world’s largest social-networking site at more than $100 billion, a person with knowledge of the...

    • Posted November 29, 2011
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  • Power Industry Decentralisation To Be Completed Next Year – Barth Nnaji

    The decentralisation of the power industry is expected to be completed next year, Minister of Power, Prof. Barth Nnaji, said yesterday. He also said the present administration has succeeded in adding about 1,300 MW of power to the national...

    • Posted November 29, 2011
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  • Reps To Compel Telecoms, Oil Firms To List On Nigerian Stock Exchange

    The House of Representative is considering a legislation that will compel the Nigerian National Petroleum Corporation (NNPC), International Oil Companies (IOCs) including Chevron and Shell to be listed on the Nigerian Stock Exchange (NSE). The bill would...

    • Posted November 29, 2011
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  • France to lend Nigeria $100M to grow bus network

    France is lending $100 million dollars to Nigeria to grow a fledgling bus network in sub-Saharan Africa’s largest city. The French Foreign ministry said in a statement Friday that the funds will go toward Lagos’ $330-million urban...

    • Posted November 27, 2011
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