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  • Kaduna Refinery ramps up production to 3.2m litres of petrol daily

    The Nigerian National Petroleum Corporation (NNPC) wednesday raised hopes that the lingering queues at fuel stations across the country would subside with the production of 3.2 million litres of petrol daily by the Kaduna Refining and Petrochemical...

    • Posted December 25, 2015
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  • Naira appreciates on parallel market after CBN dollar sales

    The naira firmed to N266 to the dollar on the unofficial market on Wednesday, gaining 1.5 per cent after the Central Bank of Nigeria sold dollars to exchange houses and as demand for the US currency slowed,...

    • Posted December 25, 2015
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  • FG urged to abolish fuel subsidy over pressure on Forex Market

    Analysts at CSL Stockbrokers Limited, have advised the federal government to end the fuel subsidy, which currently makes up a significant proportion of Nigeria’s import bill. They reasoned that removal of the subbing will help reduce demand...

    • Posted December 24, 2015
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  • Forte Oil net income rises by 7%

    Petroleum products marketing firm, Forte Oil Plc, has increased its net income by seven per cent to N4.2bn compared to N4bn recoded in the same period the previous year. The company’s other Income post increased by 216...

    • Posted December 24, 2015
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  • Senate extends 2015 budget implementation to March 2016

    The Senate on Tuesday amended the 2015 Supplementary Appropriation Act to enable the Executive arm of government to implement the N557bn capital expenditure component in the budget till March next year. The amendment was perfected at plenary...

    • Posted December 24, 2015
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  • Government records N103bn shortfall in revenue allocation

    Statutory allocation to the three tiers of government witnessed a decline of N103.95bn in the month of November from the sum of N473.83bn distributed in October to N369.88bn The decline was confirmed by the Minister of Finance,...

    • Posted December 24, 2015
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  • Dangote Industries explains repurchase of former subsidiary

    Dangote Industries Limited (DIL) bought back its former subsidiary, Tiger Branded Consumer Goods (TBCG)  to prevent the company from going under and save over 3,000 jobs of Nigerians, sources close to the deal said on Tuesday. TBCG,...

    • Posted December 24, 2015
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  • CBN orders banks to stop credit card use abroad

    The Central Bank of Nigeria (CBN) has ordered commercial banks to stop customers from using their debit and credit cards abroad, a source has told the BBC. One bank has emailed customers to this effect, stressing it...

    • Posted December 24, 2015
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  • Okowa calls for revamping of Nigeria’s steel industry

    Delta State Governor, Dr. Ifeanyi Okowa, has called for concerted efforts to revamp the steel sector for the overall development of the country. Speaking yesterday at Asaba when he received the National President and members of Iron...

    • Posted December 24, 2015
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  • Yultide: FAAN strategises to check gridlock at airports

    The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mr. Saleh Dunoma, has said that the authority is putting all necessary arrangements in place to handle the envisaged usual gridlock across the nation’s airports. Fielding...

    • Posted December 24, 2015
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  • FG gives idle mining operators March 1 ultimatum

    The Federal Government on Monday issued a March 1, 2016 ultimatum to operators in the mining industry to utilise their leases and licences or risk the revocation of such. The Minister of Solid Minerals Development, Dr. Kayode...

    • Posted December 23, 2015
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  • Kaduna refinery resumes production

    The Kaduna refinery has resumed production following its closure three months ago, the Managing Director, Kaduna Refining and Petrochemical Company Limited, Mr. Seidu Muhammed, has said. Three of the nation’s four refineries in Warri, Kaduna and Port...

    • Posted December 23, 2015
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  • CBN closes interbank forex market till 2016

    The Central Bank of Nigeria has closed the interbank foreign exchange market till January 4, 2016. The closure, which is the norm in the banking sector, was expected to have been done not later than Monday, considering...

    • Posted December 23, 2015
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  • Nigeria’s gold to triple Ghana’s – Fayemi

    Ghana, once known as Gold Coast, and a leading producer of gold, will not only be bested by Nigeria in the production of the commodity, but Africa’s most populous country will do so three times over once...

    • Posted December 23, 2015
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