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  • FG targets 4,000MW from nuclear energy

    The Federal Government is working towards generating 4,000 megawatts of electricity from nuclear energy. The plan is to start a programme in the coming years that will give the country 1,000MW in the first instance, which will...

    • Posted March 18, 2016
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  • FG suspends pension directorate boss

    The Executive Secretary/Director-General, Pension Transitional Arrangement Directorate, Mrs. Nellie Mayshak, has been placed on suspension by the Minister of Finance, Mrs. Kemi Adeosun. A director in the office of the Accountant-General of the Federation has been appointed...

    • Posted March 18, 2016
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  • Stakeholders proffer solutions to fuel supply challenges

    Stakeholders, including industry operators, have called on the Federal Government to increase private sector participation in the downstream segment of the nation’s oil and gas industry to tackle the fuel supply challenges facing the country. They highlighted...

    • Posted March 18, 2016
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  • Experts seek exchange rates convergence

    The Chief Executive Officer, Financial Derivatives Company, Mr. Bismarck Rewane, has expressed displeasure over the wide gap between the official and parallel foreign exchange rates. To this end, he stressed the need for enactment of policies that...

    • Posted March 18, 2016
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  • Nestle records N24bn profit, declares N19 final dividend

    Nestle Nigeria Plc reported on Wednesday improved performance for the financial year ended December 31, 2015 despite the challenging operating environment. The company posted a revenue of N151.272 billion, compared to N143.329 billion in 2014. Gross profit...

    • Posted March 18, 2016
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  • NEPC targets $100m non-oil sector revenue

    The Executive Director/CEO, Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, on Wednesday said Nigeria’s non -oil sector is expected to generate about $100billion export earnings in the next 12 years. The NEPC boss said this at...

    • Posted March 18, 2016
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  • OPEC, Non-OPEC producers to meet in Doha April 17

    As part of the collaborative efforts between the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producing countries to freeze crude oil output in an attempt to prop up prices, the two groups will hold a meeting...

    • Posted March 18, 2016
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  • Telecoms operators record 431,978 porting subscribers in one year

    Telecoms operators, last year, recorded the highest number of porting subscribers on their networks, totaling 431, 978 for both outgoing and incoming porting. The figure became the highest since Mobile Number Portability was introduced by the Nigerian...

    • Posted March 18, 2016
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  • Gwarzo re-elected as chair of IOSCO’s AMERC

    The Director-General, Securities and Exchange Commission, Mr. Mounir Gwarzo, has been unanimously re-elected to continue providing leadership to the Africa Middle East Regional Committee of the International Organisation of Securities Commissions as its chairman. The AMERC comprises...

    • Posted March 17, 2016
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  • CPC vows to protect Nigerians against abuse

    The Consumer Protection Council on Tuesday restated its commitment to protecting Nigerian consumers. The Director-General, CPC, Mrs. Dupe Atoki, during a media briefing to commemorate the 2016 World Consumer Rights Day in Abuja, also drew the attention...

    • Posted March 17, 2016
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  • Dangote opens tomato factory to vie with Chinese imports

    The Dangote Group, owned by Africa’s richest man, Aliko Dangote, has opened a tomato-processing factory near Nigeria’s northern city of Kano aimed at vying for the local market with imports from China. “We have fully started operations...

    • Posted March 17, 2016
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  • CBN offers N3m credit incentive to boost youth entrepreneurship

    The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Tuesday launched the Youth Innovative Entrepreneurship Development Programme (YIED-P), an initiative designed to unlock the ingenuity and resourcefulness of youths to drive the economy....

    • Posted March 17, 2016
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  • Inflation spirals to 11.4% on higher food prices, imported goods

    Despite the federal government’s refusal to devalue the naira, the Consumer Price Index (CPI), which measures inflation, rose significantly to 11.4 per cent in February compared to 9.6 per cent the previous month, the National Bureau of...

    • Posted March 17, 2016
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  • Senate to probe non-remittance of N3.3tn by NNPC, other MDAs

    The Senate on Tuesday said it would probe the audit report from the Office of the Auditor-General of the Federation which revealed that the Nigerian National Petroleum Corporation (NNPC) and other government agencies failed to remit N3.3 trillion...

    • Posted March 17, 2016
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