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  • NNPC to review PSC fiscal terms with IOCs

    The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it would revisit the fiscal terms of existing Production Sharing Contracts (PSCs) entered into by it on behalf of Nigeria with some international oil companies (IOCs). The corporation,...

    • Posted September 17, 2015
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  • Banking stocks lead Laggards as NSE Index sheds value

    The Nigerian Stock Exchange (NSE) Banking Index declined 0.85 per cent at the stock market on Tuesday as the   implementation of the Treasury Single Account (TSA) began. Although the NSE All-Share Index shed 0.19 per cent, the...

    • Posted September 17, 2015
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  • Banks’ investments in foreign software unacceptable – Expert

    The Managing Director of UpperLink Software and e-Payment Solution Development Company, Mr. Segun Akano, says over indulgence of foreign software by Nigerian banks is negatively affecting the lenders’ finances and return on investments. He stated that lenders...

    • Posted September 17, 2015
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  • Cash shortage hits banks as TSA deadline expires

    Deposit Money Banks in the country have transferred about N1.5tn from the accounts of Ministries, Departments and Agencies of the Federal Government to the Central Bank of Nigeria as the deadline for the commencement of the Treasury...

    • Posted September 17, 2015
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  • BoI, FIIR to boost economic growth with research

    The Bank of Industry says it will collaborate with the Federal Institute of Industrial Research to boost the level of industrial development in the country. The Managing Director, BoI, Mr. Rasheed Olaoluwa, who said this in Abuja...

    • Posted September 17, 2015
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  • BPE, NBET differ on $146.8m Yola Disco refund

    Two government agencies are at loggerheads over the refund of about $146.8m to Integrated Energy Distribution and Marketing Company, which had acquired and relinquished the Federal Government’s 60 per cent equity in the Yola Electricity Distribution Company...

    • Posted September 17, 2015
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  • Stakeholders fault FG for dormancy of NIPP Plants

    Stakeholders in Nigeria’s power sector yesterday faulted the inability of power generation plants built under the National Integrated Power Projects (NIPPs) to fully come on stream on the failure of the federal government to decisively tackle the...

    • Posted September 17, 2015
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  • Licensing of 700MHz will bring dividends to Nigerians – NBC insists

    Contrary to allegations that the licensing of the country’s 700MHz spectrum to MTN by the National Broadcasting Commission (NBC) was illegal and that the deal must have denied other telecoms operators the legitimate right to bid for...

    • Posted September 16, 2015
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  • Buhari to continue fine tuning electricity reforms

    The federal government monday disclosed that it would rather continue with the ongoing electricity reforms that was initiated and started by the previous governments of Presidents Olusegun Obasanjo and Goodluck Jonathan than abandon it as is being...

    • Posted September 16, 2015
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  • JP Morgan: Nigerian bonds face downgrade risk

    Federal Government bonds are facing the risk of credit rating downgrade following the expulsion of Nigeria from the JP Morgan Government Bond Index-Emerging Markets, Reuters has reported. Standard & Poor’s, which rates Nigeria four levels below investment...

    • Posted September 16, 2015
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  • External reserves fall to $30.794bn, inflation inches to 9.3%

    Nigeria continued to reel from the impact of the decision by US investment bank JP Morgan & Chase to phase out Nigerian bonds from its indexes, as the country’s external reserves fell to $30.794 billion. The value...

    • Posted September 16, 2015
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  • BPE disburses N17bn to 68% of defunct PHCN’s retirees

    The Bureau of Public Enterprises (BPE) has said a total of N17 billion has so far been disbursed in settlement of the retirement benefits of 68 per cent of the 4,307 retired workers of defunct state-owned electricity...

    • Posted September 16, 2015
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  • NNPC issues guidelines for sale, purchase of Nigeria’s crude

    In its renewed bid to ensure transparency in all commercial activities relating to petroleum operations in Nigeria, the Nigerian National Petroleum Corporation (NNPC) has released the guidelines for the participation of local and foreign companies in the...

    • Posted September 16, 2015
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  • PENGASSAN protests as SAPETRO fires workers

    South Atlantic Petroleum, an indigenous oil and gas exploration and production company, has sacked 10 of its workers who were assigned to work on the Sèmè oilfield, offshore the Republic of Benin. The re-development of the field...

    • Posted September 16, 2015
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