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  • Nigeria’s leasing transactions record N4.8trn in 10 years

    The leasing industry added assets worth over N4.8 trillion to capital formation in the Nigerian economy in the last 10 years, the Equipment Leasing Association of Nigeria (ELAN) has revealed. In 2014, outstanding lease volume was estimated...

    • Posted December 4, 2015
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  • Chinese investment in Africa not a threat – Spokesman

    China’s increasing investment in Africa was not a threat to the continent rather a big boost to the region’s self-development. Shen Danyang, Spokesperson of the Chinese Ministry of Commerce (MOC) said this on Wednesday in Beijing, in...

    • Posted December 3, 2015
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  • Electricity tariffs, MDA debts top Fashola’s closed-door meeting with stakeholders

    There are indications that parts of what were discussed at a closed door meeting between the Minister of Power, Works and Housing, Babatunde Fashola and stakeholders in Nigeria’s power sector yesterday in Abuja included the implementation of...

    • Posted December 2, 2015
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  • Domestic bond market can finance 2016 budget deficit – Nwankwo

    The Director General of the Debt Management Office (DMO) Dr. Abraham Nwankwo has said the Nigerian bond market  has the capacity  to provide funds that will be required to finance  2016 budget deficit. The 2016 federal government...

    • Posted December 2, 2015
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  • TCN MD resigns as weak transmission network leads to drop in power supply by 900MW

    The Managing Director of the Transmission Company of Nigeria (TCN), Mrs. Veronica Osuhor, has resigned her appointment following a protracted dispute among key leaders in the power industry. This came as indications yesterday emerged that weak transmission...

    • Posted December 2, 2015
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  • FG to commence registration of unemployed Nigerians nationwide

    In a move aimed at actualising the planned social security for the teeming unemployed Nigerians, the federal government monday said plans were underway to register all unemployed citizens across the country. The decision came amid the slow...

    • Posted December 2, 2015
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  • Shiroro to get 300MW solar power plant

    The new operator of the Shiroro Hydroelectric Power Plant, North-South Power Company, plans to build a new solar power plant with a capacity to generate 300 megawatts of electricity, the Bureau of Public Enterprises has said. A...

    • Posted December 2, 2015
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  • Firm to build refineries in Lagos, Ondo

    Ode-Aye Refinery Limited has concluded plan to establish Greenfield and modular refineries in the country in the next 18 months. The company’s Director, Prince Bayo Otulana, said in Uyo on Monday that the refineries would be located...

    • Posted December 2, 2015
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  • Osinbajo decries dependence on oil revenue

    Vice President Yemi Osinbajo has described the over-dependence on oil resources as the cause of the high level of corruption, dwindling economy and redundant human resources base in the country. Osinbajo also observed that the over-reliance on...

    • Posted December 2, 2015
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  • National Assembly increases fuel subsidy to N521bn

    The Senate monday compelled the federal government to increase the N413 billion fuel subsidy bill it submitted under the supplementary budget to the National Assembly last week to N521 billion. The new figure includes N108 billion meant...

    • Posted December 2, 2015
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  • FG urged to shun critics of cargo tracking note

    Importers Association of Nigeria (IMAN) has advised the federal government to disregard the opposition against the reintroduction of Cargo Tracking Note (CTN) by some trade groups, including Manufacturers Association of Nigeria (MAN). IMAN said those who are...

    • Posted December 1, 2015
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  • FG to establish Efficiency Unit to reduce cost of governance

    In line with the current administration’s resolve to institute reform policies that will ensure effective management of the nation’s economy and reduce cost of governance, President Muhammadu Buhari has approved the establishment of an Efficiency Unit  (E-UNIT)...

    • Posted December 1, 2015
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  • Banks urged to brace up for IFRS Nine

    Commercial banks in Nigeria have been advised to put in place the necessary structure that would enable them adopt the International Financial Reporting Standards (IFRS) nine. Director, Banking Supervision, Central Bank of Nigeria (CBN), Mrs. Tokunbo Martins,...

    • Posted December 1, 2015
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  • ICT to generate 20% of Nigeria’s GDP by 2020 – NITDA

    The National Information Technology Development Agency (NITDA) has said given the rate of Information Communication Technology (ICT) development in NIgeria, by the year 2020, ICT will contribute 20per cent‎ to the nation’s Gross Domestic Product (GDP). Its...

    • Posted December 1, 2015
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