All posts by Ifreke Inyang

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  FAAC insists on fuel subsidy removal

  Barely a week after the Senate unanimously rejected the recommendation of its Committee on Finance that subsidies on petroleum products should be totally removed, the Federation Accounts Allocation Committee on Tuesday insisted that their retention was a...

  • Posted July 17, 2014
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  ECA rises to $4.5bn as FG, States, LGs share N755.9bn in June

  The Federation Accounts Allocation Committee (FAAC) yesterday shared a total distributable revenue amounting to about N755.95 billion among the three tiers of government for June as it emerged that the money, Excess Crude Account (ECA) kept to...

  • Posted July 17, 2014
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  Services sector drives 6.21% growth in GDP – NBS

  The National Bureau of Statistics on Tuesday released the Gross Domestic Product for the first quarter of 2014, stating that in real terms, the country’s GDP grew by 6.21 per cent. In the report, a copy of...

  • Posted July 17, 2014
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  Workers cannot shut airspace – ATC

  The Nigerian Air Traffic Controllers’ Association has condemned the incessant threats by various aviation groups to shut the nation’s airspace as a means of settling industrial disputes. The association said in a statement on Tuesday that air...

  • Posted July 17, 2014
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  Higher food prices push inflation to 8.2% in June

  Nigeria’s Consumer Price Index (CPI) which measures inflation rose to 8.2 percent in June compared to 8 per cent in the previous month, according to the National Bureau of Statistics (NBS). The NBS has attributed the 0.2...

  • Posted July 17, 2014
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  FEC approves N1.3bn for feasibility study of standard rail lines

  Federal Executive Council Wednesday approved N1.3bn for standard rail feasibility study on six rail lines. The approval of the contractual sum was announce by Minister of Information, Labaran Maku shortly after the weekly FEC meeting while briefing...

  • Posted July 17, 2014
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  Naira firms on dollar inflow

  The naira firmed marginally on the interbank market yesterday after oil companies sold dollars to buy the local currency and dollar demand from importers slowed, traders said. The naira closed at N162.28 to a dollar, slightly firmer...

  • Posted July 16, 2014
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  ECOWAS relaxes compliance criteria to hasten Monetary Union by 2020

  The Economic Community of West African States (ECOWAS) Commission yesterday said it has resolved to reduce the macroeconomic convergence criteria among member states to six, from the initial 11 in order to hasten the actualisation of the...

  • Posted July 16, 2014
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  NSE boosts access to information, capital

  In line with its goal to make the Nigerian stock market the leading platform to access capital in Africa, the Nigerian Stock Exchange says it is important for investors to have easy access to information about the...

  • Posted July 16, 2014
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  Zenith Bank, Virgin Group support young entrepreneurs

  Two Nigeria’s young entrepreneurs, Miss Eseoghene Odiete and Mr. Nasir Yammama recently had a business master class from the  Founder and Chairman of  Virgin Group,  Sir Richard Branson, after winning a competition organised by British Council and...

  • Posted July 16, 2014
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