All posts by Ifreke Inyang

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  Nigeria lost 109.5m barrels of oil in 2013 – NNPC

  The Nigerian National Petroleum Corporation on Tuesday said that Nigeria lost 300,000 barrels per day or 109.50 million barrels in 2013 from severe attacks on critical export pipeline. The News Agency of Nigeria reports that the NNPC...

  • Posted March 19, 2014
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  FG permits DISCOs to disconnect indebted agencies

  THE Nigerian Electricity Regulatory Commission, NERC, has granted distribution companies, DISCOs, the liberty to disconnect government agencies which failed to pay their bills. The Chairman of NERC, Dr. Sam Amadi, stated this after the meeting of the...

  • Posted March 19, 2014
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  CBN to mop up N1.8tr in three months

  THE Central Bank of Nigeria, CBN, yesterday unveiled plans to mop up N1.866 trillion from the banking system through the sale of treasury bills. According to the treasury bill issue programme  for the second quarter released yesterday,...

  • Posted March 19, 2014
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  Nigerian food companies shun labelling requirement

  MOST food manufacturing companies in Nigeria have not complied with the recommendation to adopt the  Nigerian Heart Foundation, NHF, Heart Check Food Labelling programme  introduced in 1988. Worried by the development, which is allegedly fuelling cardiovascular diseases among...

  • Posted March 19, 2014
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  NEITI clarifies alleged NNPC unremitted $22.8bn

  THE Nigerian Extractive Industries Transparency Initiative, NEITI, has recanted its earlier position that it uncovered $22.8 billion unremitted oil revenue by the Nigerian National Petroleum Corporation, NNPC. NEITI’s Director of Communication, Dr. Orji Ogbonnaya Orji, said also...

  • Posted March 19, 2014
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  Western Union partners Paga on money transfer

  The Western Union Company has announced the launch of a new mobile money transfer (MMT) service to Nigeria, which increases the reach of its payout options in the country. The new service in the country integrates directly...

  • Posted March 19, 2014
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  25 million households live without power – Minister of Power

  More than 25 million Nigerian households do not have access to electricity, translating into less than 40 per cent coverage, the Minister of Power, Prof. Chinedu Nebo, has revealed. This, according to him, is despite recent advances...

  • Posted March 19, 2014
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  Excess Crude Account rises to $3.45bn

  The Federal Government has claimed that the Excess Crude Account has increased to $1.34bn, bringing the total to $3.45bn. This is coming after the ECA was depleted from about $8bn to $2.11bn last month. This represents an...

  • Posted March 18, 2014
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  Nigeria earns $24bn in dividends, revenue from NLNG in 15 years

  Company’s total assets valued at $14bn  Over 4tcf of associated gas captured from flaring Chineme Okafor in Abuja The Nigeria Liquefied Natural Gas (NLNG)  at the weekend in Abuja said the country had earned as much as...

  • Posted March 18, 2014
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  Court stops BPE’s bidding for three power stations

  An Abuja Federal High Court has stopped the Bureau of Public Enterprises from going ahead with the bidding for the privatisation of three power stations pending the determination of a suit filed against the exercise. Following the...

  • Posted March 18, 2014
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