All posts by David Abellegah

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  FG hires foreign firm to work out PHCN workers’ payoff

    The Federal Government has taken a bold move to facilitate the payment of entitlements of the Power Holding Company of Nigeria (PHCN) by hiring a foreign firm to help steer the process. The payment of entitlements...

  • Posted January 11, 2013
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  FG backs ban on telecoms promos, lotteries

  The Minister of Communications Technology, Mrs. Omobola Johnson, yesterday disclosed that the Federal Government was behind the ban of promos and lotteries on telecommunication companies imposed by the Nigerian Communications Commission (NCC). In a statement available to...

  • Posted January 10, 2013
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  NNPC, FG criticizes over $1.5 billion loan

  The Nigerian National Petroleum Corporation’s (NNPC) plan to obtain a syndicated loan of $1.5b has been condemned by economic experts and analysts. Former World Bank Vice President, Dr. Oby Ezekwesili has also condemned the development, saying it...

  • Posted January 10, 2013
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  Benue people lament the closure of Dangote Gboko Plant, call for FG intervention

  The Benue State Government has called on the Federal Government to intervene in the temporary closure of the Gboko plant of Dangote Cement, saying the closure has caused serious financial loss and untold hardship in the few...

  • Posted January 10, 2013
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  Electricity generation capacity to hit 10,000MW by December

    The Federal Government through the Minister of State for Power, Mrs. Zainab Kuchi has promised that it would achieve 10,000 Megawatts of electricity generation by December 2013. Kuchi while presenting a report before the Presidential Action...

  • Posted January 10, 2013
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  Sylva battles Dickson on N4,451 Bayelsa treasury balance

  Governor Henry Seriake Dickson’s claim that he inherited only N4, 451 in the state account was yesterday faulted by former Governor, Chief Timipre Sylva. Sylva stated that he does not understand why after a year since the...

  • Posted January 9, 2013
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  Analysts, experts fault the move to strip CBN of its banking supervisory role

  Financial analysts, economic experts, and stakeholders have faulted the recent move by the House of Representatives to strip the Central Bank of Nigeria of its supervisory powers. Earlier, the Chairman, House of Representatives Committee on Banking and...

  • Posted January 9, 2013
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  FG to introduce new backward integration policy in the cement industry

    The Federal Government is making moves to review the Backward Integration guiding principle on cement to examine the wonderful growth recorded in the sector. The Minister of Trade and Investment, Olusegun Aganga, disclosed this in Abuja...

  • Posted January 8, 2013
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  FG to spend N5 billion on debts accrued from Court judgements in 2013

  In the past years, the Federal Government incurred debts to the tune of N5bn from court judgements against its Ministries, Departments, and Agencies. The Government will as a result spend a whooping sum of N5bn to upset...

  • Posted January 8, 2013
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  Debt management: NNPC struggles, borrows to pay $1.5b foreign debt

  The Nigerian National Petroleum Corporation (NNPC) has borrowed money to cover up its debts at the international Market. This information was disclosed to Reuters by a Senior Banking source within the banking industry. The loan became very...

  • Posted January 8, 2013
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