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  • NCC fines MTN record N1.4trn for SIM infraction

    The Nigerian Communications Commission (NCC) has fined MTN Nigeria a record N1.4 trillion naira (Yes, N1.4trn) for alleged breach of SIM registration rules. MTN Nigeria, which has the largest subscriber base in the country, is owned by...

    • Posted October 28, 2015
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  • Eko Disco to re-route electricity feeder lines underground in public places

    As part of the measures to replace obsolete facilities and curb accidents in its network, Eko Electricity Distribution Company is set to remove its overhead feeder lines in public places and re-route them underground The company also...

    • Posted October 28, 2015
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  • 75% Nigerians lack access to regular power supply – NAEE

    The Nigerian Association of Energy Economists (NAEE) has said that about 75 per cent of Nigeria’s 170 million people still live without access to regular electricity supply. NAEE said that despite statistics indicating that 45 per cent...

    • Posted October 28, 2015
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  • NERC to apply principles of prudence, affordability in tariff review

    Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi has said the commission would apply the principles of prudence and affordability in the current upward review of electricity tariffs in the country. Amadi gave the...

    • Posted October 28, 2015
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  • Stakeholders seek linkages of local content to Nigerian economy

    Experts in Nigeria’s oil and gas industry have called on the Nigerian Content Development and Monitoring Board (NCDMB) to move a step further and ensure that the implementation of the Nigerian Oil and Gas Industry Content Development...

    • Posted October 28, 2015
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  • Lagos generates N1.08tn IGR in five years

    The Lagos State Government recorded a total of N1.08 trillion in internally generated revenue (IGR) between 2010 and 2014, according to the National Bureau of Statistics (NBS). The state also recorded the highest IGR of N276.16 billion...

    • Posted October 27, 2015
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  • Oando records historic loss of N184bn in 2014

    Oando Plc last Friday finally released its long-awaited results for the full-year ending 2014, in which it declared a historic loss after tax of N183.9 billion compared to a profit after tax of N1.396 billion in 2013....

    • Posted October 27, 2015
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  • Zenith Bank grows profit after tax by 16.9%

    Zenith Bank Plc made a profit after tax of N83.087bn in the nine months to September 30, 2015. The figure is 16.95 per cent higher than the N71bn PAT it made in the same period of 2014....

    • Posted October 27, 2015
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  • Power firms adjusting electricity tariffs – NERC

    The public outcry against the plans by power distribution companies to increase electricity tariffs may have forced some of them to effect corrections to the proposals they submitted to the Nigerian Electricity Regulatory Commission. According to NERC,...

    • Posted October 27, 2015
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  • FG shops for N40bn to complete Ajaokuta rail

    Eighteen years after construction work commenced on the 276-kilometre standard gauge rail line linking Warri in Delta State to Ajaokuta, Kogi State, the project has not been delivered to the Federal Government. The project, otherwise called the...

    • Posted October 27, 2015
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  • Aviation industry supports 254,500 jobs, contributes N184.7bn to GDP

    The aviation industry in Nigeria currently supports 254,500 jobs and contributes $940 million (N184.7 billion) to national GDP, according to a Philips Consulting report on the aviation sector made available to THISDAY. The report said 49 per...

    • Posted October 27, 2015
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  • Economic pains to continue for next 10 years – Jimoh Ibrahim

    The Group Managing Director of Energy Group, Mr. Jimoh Ibrahim, has stated that the world economy will continue to be in pains for the next 10 years and that there is hardly anything any one could do...

    • Posted October 27, 2015
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  • Volume of POS transactions rises by 77%

    The volume of transactions conducted through point of sale (PoS) terminals across the country increased by 77 per cent, from 15 million in 2014, to 27 million as at June this year. The Chairman of the Nigeria...

    • Posted October 27, 2015
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  • NCC withdraws ‘data floor price’ for telecoms operators

    The Nigerian Communications Commission (NCC) on Monday said it has withdrawn the “data floor price’’ for operators in the telecommunications industry. “Floor price’’ is a government or group-imposed price control or the limit a price can be...

    • Posted October 26, 2015
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