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  • Infrastructure Bank, METSL to construct Lagos metro rail

    The Marina Express Train Service Limited is to collaborate with the Infrastructure Bank to construct the proposed Lagos Metro Rail Transit otherwise called the Red Line project. The Minister of Transport, Senator Idris Umar, said this in...

    • Posted May 25, 2015
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  • Shiroro power plant suffers system collapse

    The already bad state of electricity supply across the country was made worse on Sunday following of a system collapse at the Shiroro Hydro-electric Power Plant in Niger State. The Shiroro plant has a power generating capacity...

    • Posted May 25, 2015
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  • NNPC denies owing Lutin N95bn

    The Nigerian National Petroleum Corporation on Sunday denied owing Lutin Investment Limited the sum of N95bn, insisting that all contentious issues between the two firms had been laid to rest. With regard to the award of N95bn...

    • Posted May 25, 2015
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  • New CRR structure’ll further weaken bank earnings — WSTC

    The harmonization of the Cash Reserve Requirements on public and private sector deposits by the Central Bank of Nigeria will further weaken earnings in the banking industry, WSTC Financial Services Limited has said. The Monetary Policy Committee...

    • Posted May 25, 2015
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  • Dangote’s $480m Ethiopian cement factory for inauguration June 5

    Dangote Cement Plc says it will inaugurate its 2.5 million tonnes per annum cement plant in Ethiopia on Thursday as the company inches towards the mark of 40 mtpa global production capacity before the end of 2015....

    • Posted May 25, 2015
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  • Ecobank Nigeria gets $15m US credit line

    Ecobank Nigeria says it has utilised a $15m credit line under the United States Department of Agriculture Export Credit Guarantee Programme. According to a statement by the lender, the ‘GSM 102 Programme’ provides a credit guarantee to...

    • Posted May 25, 2015
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  • MasterCard advises ICAN on technology, ethics

    The Divisional President, sub-Sahara Africa, MasterCard Worldwide, Mr. Daniel Monehin, has urged the Institute of Chartered Accountants of Nigeria to leverage technology to boost accounting practice in Nigeria. He also called on all professional accountants to raise...

    • Posted May 25, 2015
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  • Stanbic IBTC Bank, Spanish institution sign finance deal

    Stanbic IBTC Bank and a leading business school in Spain, IE Business School, have signed a direct financing agreement to help people acquire relevant skills in entrepreneurship. A statement by the bank on Wednesday said the parties...

    • Posted May 25, 2015
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  • Iran plans economic partnership with Nigeria

    The Islamic Republic of Iran is planning to develop economic and trade relations with Nigeria, the Iranian Ambassador to Nigeria, Mr. Saeed Koozechi, has said. He said the decision followed Iran’s new policy towards economic cooperation and...

    • Posted May 25, 2015
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  • Citizens wait on Buhari as Nigeria’s economy shuts down

    Five days to the inauguration of the Muhammadu Buhari administration, it appears that the Nigerian economy has shut down as the outgoing government of President Goodluck Jonathan is more concerned with sacking and making new appointments than...

    • Posted May 24, 2015
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  • Wal-Mart pushes US meat suppliers to limit antibiotics

    Wal-Mart Stores called Friday for meat suppliers to their US operations to curb the use of antibiotics and follow globally recognized guidelines on humane treatment of farm animals. The push was directed at suppliers to Walmart US...

    • Posted May 24, 2015
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  • Despite scarcity, daily subsidy on petrol hits N1.81bn

    The Federal Government is still spending about N1.81bn daily to subsidise the Premium Motor Spirit, otherwise called petrol, notwithstanding the nationwide scarcity of the product. Latest figures from the Petroleum Products Pricing Regulatory Agency show that the...

    • Posted May 24, 2015
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  • We have no money to import fuel — Marketers

    There are indications that the current fuel scarcity may not abate unless the Federal Government pays the outstanding N200m reportedly being owed the oil marketers as subsidy claims. The oil marketers, who confirmed to our correspondent that...

    • Posted May 24, 2015
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  • Nigerian artists dominate global art auction, as new record is set

    When the hammer fell to signal the end of the Africa Now sale in Bonhams, London, last Wednesday, Ben Enweonwu’s sculpture Anyanwu had fetched a staggering £74,500. His Africa Dances painting sold for £68,500. It was not...

    • Posted May 24, 2015
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