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  • Julius Berger declares N8.2bn profit, revenue falls by N6bn

    Construction giant Julius Berger Nigeria Plc yesterday declared a profit after tax of N8.2 billion for the 2014 financial year. The company however, made a turnover of N196.3 billion, about N6 billion less than the N212.7 billion...

    • Posted June 19, 2015
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  • Energy projects in Nigeria, Cameroon get $5m funding

    Quaint Solar Energy from Nigeria and Flatbush Solar from Cameroon will soon see their renewable energy projects fired up by a total of $5-million (R62 million) in new funding as well as expert technical support. Access Infra...

    • Posted June 19, 2015
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  • Shell sells Warri airport to indigenous oil firm

    Shell Petroleum Development Company of Nigeria has sold the multibillion naira Warri airport to an indigenous energy and infrastructure company, Shoreline Energy International Limited, it has been learnt. Shoreline Energy International took full possession of the facility...

    • Posted June 18, 2015
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  • Overbilling: NERC orders power firm to refund consumers

    The Nigerian Electricity Regulatory Commission has ordered the Abuja Electricity Distribution Company to refund consumers for overbilling them within the months of October to December, 2014. In an order signed by the Chairman of NERC, Dr. Sam...

    • Posted June 18, 2015
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  • BPE justifies N929.6m fee for PHCN sale

    The Federal Government approved N929, 613,188.94 as legal fees for the liquidation of the defunct Power Holding Company of Nigeria in order to transfer liabilities in over 500 court cases from the PHCN to the Nigeria Electricity...

    • Posted June 18, 2015
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  • PenCom to diversify pension investments in July

    The Head, Investment Supervision Department, National Pension Commission, Mr. Ehimeme Ohioma, has said that a multi-fund structure that will guide pension fund investment will be ready next month. Speaking at a stakeholders’ forum of the Nigeria Employers’...

    • Posted June 18, 2015
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  • Access Bank UK posts impressive results

    The Access Bank UK Limited, a wholly owned subsidiary of Access Bank Plc has just published its financial statements for the year ended December 31, 2014. The results showed an increase in operating income of 37 per...

    • Posted June 18, 2015
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  • NDIC warns against fraudulent banking activities

    The Nigeria Deposit Insurance Corporation (NDIC) has advised depositors in the country to be wary of fraudulent banking practice that is being perpetrated by some individuals in the country. It also warned youths to be wary of...

    • Posted June 18, 2015
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  • Crude oil production hits 1.91mbpd in April

    Nigeria’s crude oil production, including condensates and natural gas liquids, was estimated at an average of 1.91 million barrels per day (mbpd) or 57.30 million barrels in April 2015. This represented an increase of five per cent...

    • Posted June 18, 2015
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  • 2015 will be tough for Nigeria, others – World Bank

    This, according to the World Bank Group’s latest Global Economic Prospects (GEP) report released recently, would resulting in a fourth consecutive year of disappointing economic growth this year. As a result, developing countries are now projected to...

    • Posted June 18, 2015
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  • Eko Electricity to add 474MW from embedded generation

    As part of its continued efforts to ensure that customers enjoy improved and reliable power distribution within its network, Eko Electricity Distribution Plc (EKEDP) has concluded a pioneering plan to acquire up to 474 megawatts of electricity...

    • Posted June 17, 2015
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  • Banks in Nigeria are healthy – NDIC

    The Nigeria Deposit Insurance Corporation (NDIC) Monday stated that banks operating in the country are healthy and are in line with global standard. It also said that it monitors activities of banks in the country. The Deputy...

    • Posted June 17, 2015
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  • Airtel rolls out high-speed Wi-Fi service

    Airtel Nigeria has introduced ultra-high speed Wi-Fi service to enhance customer data experience in Lagos. The telecoms company said the introduction of the ultra-high speed Wi-Fi was in line with its commitment to providing exceptional mobile Internet...

    • Posted June 17, 2015
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  • Shell, Chevron conclude sale of four oil blocks

    Shell, Chevron and their joint venture partners have finally concluded the sale of their stakes in Oil Mining Leases (OMLs) 71, 72, 83 and 85 to a Nigerian independent company – First Exploration & Petroleum Development Company...

    • Posted June 17, 2015
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