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  • Fashola secures release of 300,000 legally encumbered PHCN meters

    The Minister of Power, Works and Housing, Mr. Babatunde Fashola has disclosed that he has secured the release of about 300,000 electricity meters which belonged to defunct Power Holding Company of Nigeria (PHCN) but were locked up...

    • Posted March 30, 2016
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  • NNPC unveils strategies to end current fuel scarcity in next few days

    Apparently miffed by the controversy generated by the declaration of the Minister of State for Petroleum, Dr. Ibe Kachikwu, that the current petrol shortages could last up to two months, the Nigerian National Petroleum Corporation (NNPC) has...

    • Posted March 30, 2016
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  • Shell increases gas production in Eastern Niger Delta

    Shell Petroleum Development Company of Nigeria Limited (SPDC) Joint Venture has announced that more gas is being produced from Agbada field in the Eastern Niger Delta in support of federal government’s aspiration of increasing domestic gas production...

    • Posted March 30, 2016
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  • Zenith maintains lead in forex allocation from CBN

    For the second week in a row, Zenith Bank Plc has maintained its lead with the highest allocation of foreign exchange from the Central Bank of Nigeria (CBN), the returns on utilisation of forex published by banks...

    • Posted March 30, 2016
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  • Petrol scarcity persists, Reps to intervene after resumption

    The scarcity of petrol continued on Sunday in many cities across the country, as hundreds of motorists thronged the few filling stations that dispensed the product. This is coming as the Department of Petroleum Resources announced that...

    • Posted March 29, 2016
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  • Dollar scarcity: Foreign airlines raise fares by 100%

    Foreign exchange risk is now a major component of airfares on Nigerian routes, the country managers of top foreign airlines have revealed. Investigation by our correspondent revealed that the airlines operating on international routes in the country...

    • Posted March 29, 2016
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  • Fuel scarcity: LCCI seeks liberalisation of oil sector

    As a way out of the recurring fuel scarcity in the country, the Lagos Chamber of Commerce and Industry has called for the urgent liberalisation of the downstream petroleum sector for unfettered private sector participation and investment,...

    • Posted March 29, 2016
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  • GTBank launches new service delivery channel

    Over the last few weeks, Nigerians all over the country have been faced with the question: What is the 737? From billboards to hash tags and radio hypes. Introduced by Guaranty Trust Bank Plc (GTBank), a statement...

    • Posted March 29, 2016
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  • More market operators hail passage of 2016 Budget

    More capital market operators have said the passage of the 2016 Budget of the federal government would impact positively on the market in particular and economy at large. Speaking to THISDAY, a stockbroker and Chief Executive Officer...

    • Posted March 29, 2016
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  • Nigeria to spend 24% of revenue on debt servicing in 2016

    Nigeria is to spend 24 per cent of its revenue in 2016 for debt servicing, which is lower than the amount recent speculated.  The Representative of Islamic Development Bank (IDB), in Nigeria, Abdallah Kiliaki said recently that the...

    • Posted March 29, 2016
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  • Importation of new cars declines by 67% on forex challenges

    The foreign exchange liquidity problem that has affected importation of goods into the country, and raw materials for local manufacturing, is also taking its toll on the automobiles industry, THISDAY finding has revealed. The National Automotive Design...

    • Posted March 29, 2016
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  • Nigerian Breweries emerges NSE Most Compliant Firm

    Nigerian Breweries Plc has been named the winner of the Nigerian Stock Exchange (NSE)Chief Executive Officer’s  Distinguished Award for Compliance in 2015. The award also known as the Most Complaint Listed Firm award is given by the NSE to a...

    • Posted March 29, 2016
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  • NNPC extends crude oil swap to April

    The Nigerian National Petroleum Corporation (NNPC) has again shifted the timeline for the planned commencement of its new crude oil trading and products sourcing arrangement, the Direct-Sale-Direct-Purchase (DSDP), to April. The DSDP is expected to replace the...

    • Posted March 28, 2016
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  • High oil cost raises fears of petrol price hike

    A fresh increase in the pump price of Premium Motor Spirit (petrol) may be imminent following the latest rise in the global oil prices, which has pushed the cost of petroleum products up. And should the Federal...

    • Posted March 28, 2016
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