All posts by BusinessNews Staff

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  BPE to select new concessionaire for Trade Fair Complex

  The National Council on Privatisation (NCP) has mandated the Bureau of Public Enterprises (BPE) to immediately initiate fresh processes for a new concession transaction on the Lagos International Trade Fair Complex (LITFC) which it recently withdrew from...

  • Posted September 7, 2017
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  CBN spends $9bn to defend naira in 7 months

  Central Bank of Nigeria (CBN) sold $9 billion to forex dealers through the interbank market between February 21 and August 31 Daily Trust reports. The figure was arrived at following a 0review by this newspaper of all...

  • Posted September 6, 2017
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  FIRS collects N2.5tr in 8 months

  The Federal Inland Revenue Service (FIRS) has collected N2.5 trillion as total revenue in the last eight months. A document available to Daily Trust indicated that the highest source of revenue collected was petroleum profit tax which...

  • Posted September 6, 2017
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  States raised N791.2bn bonds in 40 years

  States in the federation have raised N791.2 billion through issuance of bonds in 40 years to carry out infrastructural development projects or service loans. A bond is a debt investment in which an investor loans money to...

  • Posted September 5, 2017
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  IMF endorses economic reforms, extends programme in Ghana

  The International Monetary Fund (IMF) after an assessment of the Ghanaian economy; tacitly endorsed the new government’ economic policies and reforms, which are aimed at fostering high growth and job creation. The Bretton Wood Institution, which approved...

  • Posted September 5, 2017
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  Petrol now N130/ltr at depots, N142/ltr at stations – NNPC

  The Nigerian National Petroleum Corporation (NNPC) has said the ex-depot price of petrol has dropped from N138 to N133.28 per litre in most of its depots, indicating a gain of N4.72 for marketers. The drop is even...

  • Posted September 4, 2017
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  Government owes Egbin power plant N125bn

  Egbin power plant, the biggest in Nigeria, is owed N125bn ($352m) by the Federal Government and half of its output is wasted because of inadequate transmission infrastructure, its Chief Executive Officer, Dallas Peavey Jr., has said. Out...

  • Posted September 4, 2017
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  FG’s annual pension liabilities may exceed N474.12bn

  The Federal Government’s annual pension liabilities will rise above N474.12bn if the Nigeria Police Force and other paramilitary organisations are allowed to exit the Contributory Pension Scheme, findings have revealed. A bill to amend the Pension Reform...

  • Posted September 4, 2017
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  Petrol shortage hits America, fuel prices go up

  Retail U.S. gasoline prices rose 2.8 percent from Friday to Saturday as refineries warned customers about the fuel-supply shortage. They were at $2.59 a gallon, according to motorists advocacy group AAA. It represents a 16.7 percent rise...

  • Posted September 4, 2017
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  India slashes import of Nigeria crude oil

  Nigeria’s oil supply to India has hit its lowest level for this year, with the Asian country intensifying effort to diversify its sources of the commodity. India has remained the single largest buyer of Nigerian crude oil...

  • Posted September 2, 2017
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