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  • Disquiet over NLNG Act amendment

    The National Assembly is set to pass a bill seeking to amend the Nigeria Liquefied Natural Gas (NLNG) Act to compel the NLNG to pay 3 percent of its total annual budget to the Niger Delta Development...

    • Posted May 5, 2017
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  • States debts hit N4.08trn – NBS

    The foreign and domestic debts of the 36 states of Nigeria and the Federal Capital Territory (FCT) amounted to N4.08 trillion as at the end of 2016. The Nigerian Domestic and Foreign Debt 2016 Report released yesterday...

    • Posted May 5, 2017
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  • FG pays IOCs $400m as part settlement of cash call debt

    The federal government has begun redeeming its pledge to settle outstanding joint venture cash call debts it owes international oil companies (IOCs), with $400 million released to them last week, the Minister of State for Petroleum Resources,...

    • Posted May 4, 2017
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  • Zabazaba Deepwater Project to proceed despite Malabu dispute – Kachikwu

    The federal government, Shell and the Nigerian Agip Exploration Limited (NAE) will go ahead with the $13.5 billion Zabazaba Deepwater project located in Oil Prospecting Lease (OPL) 245 despite controversies surrounding the oil block, the Minister of...

    • Posted May 4, 2017
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  • CBN sanctions 14 Banks for crowding out SMEs in FX Market

    Following persistent complaints that some Deposit Money Banks (DMBs) have deliberately frustrated efforts by many Small and Medium Enterprises (SMEs) to access FX from the window created for small businesses in the country, the Central Bank of...

    • Posted May 4, 2017
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  • FCMB Group Plc holds 4th AGM as shareholders commend 2016 performance, approve dividend

    The 4th Annual General Meeting (AGM) of FCMB Group Plc held on Friday, April 28, 2017 at the Shell Hall, Muson Centre Onikan, Lagos. Shareholders of the Group applauded the financial institution for its resilience, dynamism and...

    • Posted May 3, 2017
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  • Banking sector loans to customers rise to N16.372trn

    The audited results of 2016 for 14 banks quoted on the Nigerian Stock Exchange (NSE) have shown a 22 per cent increase in total loans and advances to their customers from N13.315 trillion in 2015, to N16.372...

    • Posted May 3, 2017
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  • Renewables can give 10,000mw with 50% CBN funding – SEPAN

    The Sustainable Energy Practitioners Association of Nigeria (SEPAN) has said with 50 per cent of the Central Bank of Nigeria (CBN) power fund, 10,000 megawatts (mw) will be added to the electricity grid before 2020. The president,...

    • Posted May 3, 2017
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  • NLNG exports 4,000th cargo to Turkey

    Nigeria LNG Limited (NLNG),yesterday said it exported its 4000th cargo of Liquefied Natural Gas (LNG) from its Bonny Island Terminal in Rivers State to Mamara LNG Terminal in Turkey. The cargo shipped on board one of NLNG’s...

    • Posted May 3, 2017
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  • Electricity grid loses 429mw, drops to 3,598mw

    The Nigerian electricity grid has lost 429 megawatts (mw) last Sunday as it dropped to 3,598mw, when the April month ended. Industry statistics obtained yesterday indicated that generation had fluctuated significantly from the 4,518mw attained earlier in...

    • Posted May 3, 2017
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  • NGE urges media to promote government policies on economic diversification

    The Nigerian Guild of Editors (NGE) has called on the media to promote government policies which tend to encourage economic diversification as a way of getting out of the current and future economic challenges that have stymied...

    • Posted May 2, 2017
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  • Improved dollar liquidity may boost banks’ earnings

    The increase in dollar sales by the Central Bank of Nigeria (CBN) is giving banks in the country reason to cheer. The CBN increased sales of the U.S. currency to banks in late February to try and...

    • Posted May 2, 2017
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  • Zamfara state government to release N100m monthly for payment of gratuities

    The Zamfara State Government on Monday said it has reached agreement with the labour to pay N100 million monthly for the payment of gratuities to retired civil servants in the state. Gov. AbdulAziz Yari disclosed this at...

    • Posted May 2, 2017
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  • Reps to approve new minimum wage bill – Dogara

    Speaker of the House of Representatives, Yakubu Dogara said the House is committed to approving the new minimum wage bill. In a statement by his spokesman, Turaki Hassan, to mark the 2017 Workers’ Day, Dogara reiterated the...

    • Posted May 2, 2017
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