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  • Power debt: DisCos reject FG’s plan to access accounts

    Electricity distribution firms have faulted alleged plans by the Federal Government to escrow and centralise their revenue accounts over the poor market performance on their monthly remittances. The Association of Nigerian Electricity Distributors (ANED) yesterday said such...

    • Posted April 19, 2017
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  • States fail to access N46bn UBEC fund

    Thirty-six states and the Federal Capital Territory are yet to access the N46.2 billion Universal Basic Education Commission (UBEC) matching grants for 2017 because of their inability to show evidence of proper utilization of the grants disbursed...

    • Posted April 19, 2017
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  • NCAA certifies Abuja airport runway ready, safe for flight operations

    The Nigerian Civil Aviation Authority (NCAA), the regulator of the Nigerian aviation industry, after due diligence on the rehabilitated Nnamdi Azikiwe International Airport Abuja, on Monday declared it safe and ready for commercial flight operations. The NCAA...

    • Posted April 18, 2017
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  • Dollar to sell below N403 this week – Gwadabe

    The Bureau  De Change Operators of Nigeria says  Nigeria’s Naira will exchange  below N403 to a dollar this week as  the Central Bank of Nigeria  continues to inject  more forex into the market to mitigate the imbalance...

    • Posted April 18, 2017
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  • Don urges CBN to resist naira flotation

    A don, Dr Uche Uwaleke, on Saturday advised the Central Bank of Nigeria (CBN) not to float the naira until the export base of the country is sufficiently diversified. Uwaleke, the Head of Banking and Finance Department,...

    • Posted April 17, 2017
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  • FG eases documentation procedures at seaports

    The Federal Government, through the Presidential Enabling Business Environment Council (PEBEC), has approved the reduction of documentation procedures of imports and exports in Nigerian ports. Mr Anthony Ayalogu, a Deputy Comptroller of Customs and Desk Officer in...

    • Posted April 17, 2017
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  • Abuja airport runway 99 per cent completed — NCAA

    The Director-General of Nigerian Civil Aviation Authority (NCAA), Capt. Muhtar Usman, on Sunday said the Nnamdi Azikiwe International  Airport, Abuja runway project  was 99 per cent completed. Usman made this known in a statement signed by the...

    • Posted April 17, 2017
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  • Nigeria’s oil production falls to 1.2million barrels

    The nation’s crude oil production has fallen from two million barrels per day to as low as 1.27 million bpd amid the shutdown of two major export grades. The country produced 1.269 million bpd last month, according...

    • Posted April 16, 2017
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  • FG will ensure liquidity in power sector – Fashola

    The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has restated the commitment of the Federal Government to its responsibilities in the power sector, including paying for services rendered to it by the operators in the...

    • Posted April 16, 2017
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  • Nigerian interbank rate jumps on cash shortage

    Nigerian interbank lending rates rose by around 100 percentage points yesterday, as commercial lenders scrambled for cash to pay for bond purchases and cover their positions, traders said. Overnight lending rates rose to around 300 percent from...

    • Posted April 15, 2017
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  • Banks breached FX borrowing limit – CBN

    The Central Bank of Nigeria (CBN) has increased the limit on banks’ foreign currency borrowing to 125 percent of shareholders’ fund after some lenders breached its regulatory limit due to the recent fall in the naira, according...

    • Posted April 15, 2017
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  • MAN wants postponement of 50% tariffs on tomato paste

    The Manufacturers Association of Nigeria (MAN), has urged the Federal Government to allow for more time before executing the 50 per cent tariff on imported tomatoes concentrates. President of MAN, Mr Frank Jacobs, in an interview with...

    • Posted April 15, 2017
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  • Work commences on Lagos-Ibadan fast train

    Ahead of the commencement of the construction work of the Lagos-Ibadan standard gauge train, the Nigeria Railway Corporation (NRC) is to begin demolition of structures on its right of way from Apapa, Lagos to Ijoko, Ogun State....

    • Posted April 14, 2017
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  • OPEC figures show oil output cuts exceed pledge in March

    OPEC states cut oil output in March by more than they pledged under supply curbs, according to figures the exporter group uses to monitor its supply, extending a record of higher-than-expected adherence to its first production cut...

    • Posted April 14, 2017
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