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  • Power: Discos pay for paltry 24% of electricity allocation

    The Federal Ministry of Power has stated that the 11 electricity distribution companies in the country pay for only 24.9 per cent of the electricity allocated to them. The Nigerian Bulk Electricity Trading Plc (NBET), better known...

    • Posted March 5, 2017
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  • Trade Fair: Dangote, KADCCIMA partnership will help economy

    Representative of the President of the Dangote Group and Deputy Managing Director, Dangote Flour Mills, Alhaji Ahmed Yakasai, has said that the cooperation between the Dangote Group and the Kaduna Chamber of Commerce Industry Mines and Agriculture,...

    • Posted March 5, 2017
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  • AMCON take-over: Arik workers face sack

    There are fears among workers of the distressed Arik Air that the new management may cut the workforce over dwindling operations. Following the takeover of the airline by the Asset Management Corporation of Nigeria (AMCON) which appointed...

    • Posted March 4, 2017
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  • 3m Nigerians lost N18bn to MMM – NDIC

    The Nigerian Deposit Insurance Corporation (NDIC) has said while quoting the social media that an estimated three million Nigerians have lost N18 billion in the Ponzi scheme, popularly called Mavrodi Mundial Moneybox (MMM). Speaking at the NDIC...

    • Posted March 4, 2017
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  • 2016 budget: FG records N1.1tr shortfall in IGR

    The Federal Government recorded a shortfall of N1.1trillion in the projected Internally General Revenue (IGR) for 2016, government officials told a Senate panel yesterday. They said the budget achieved 55 percent implementation of the capital component with...

    • Posted March 4, 2017
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  • CBN to channel SMEs’ intervention funds to DBN – Adeosun

    The Minister of Finance, Mrs. Kemi Adeosun, has stated that the Development Bank of Nigeria (DBN) will galvanise the Small and Medium Scale Enterprises sector for the overall development of the nation’s economy. To make that happen,...

    • Posted March 3, 2017
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  • MTN targets NSE listing in September next year

    Africa’s biggest mobile-phone operator is moving closer to a listing on the Nigerian exchange, a move that could help it regain goodwill among Nigerians and make it less vulnerable to regulatory crackdowns, according to analysts including Eurasia...

    • Posted March 3, 2017
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  • NNPC shuts Warri refinery over power outage

    The 125,000 barrel per day (bpd) Warri refinery has been shut down by the Nigeria National Petroleum Corporation (NNPC) after gas turbine generators that supply power to the plant tripped off.    The refinery had only in...

    • Posted March 3, 2017
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  • Osinbajo unveils three-year strategic plan for Civil Service

    The Acting President, Prof. Yemi Osinbajo, tuesday launched the strategic document for the Nigerian Civil Service from 2017-2019 aimed at increasing the quality of public service delivery, leading to the provision of a more lasting trajectory for...

    • Posted March 2, 2017
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  • NNPC failed to account for N5.1tr subsidy – Senate

    The Senate has said the Nigeria National Petroleum Corporation (NNPC) has collected N5.1 trillion as fuel subsidy without giving any account. The Senate heard that during the subsidy regime, the country paid a total of N9.93 trillion...

    • Posted March 2, 2017
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  • Recession: Nigeria’s economy improved in 2016 – NBS

    Nigeria’s Gross Domestic Product (GDP) contracted by -1.30 per cent in the final quarter of 2016, indicating a gradual narrowing of the nation’s recession. The GDP report for the fourth quarter of last year released yesterday by...

    • Posted March 2, 2017
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  • Economy performed better than expected in 2016 – Presidency

    The Presidency says though the nation is still in the early stages of recovery,the economy, overall, performed better than expected in 2016. The Special Adviser to the President on Economic Matters, Adeyemi Dipeolu, stated this on Tuesday...

    • Posted March 1, 2017
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  • NASS to pass petroleum bill in March

    Sen. Donald Alasoadura, Chairman Senate Committee on Petroleum Resources (Upstream), has assured that the Petroleum Industry Governance Bill will be passed latest in March. Alasoadura said this on Tuesday in Abuja at a plenary to discuss new...

    • Posted March 1, 2017
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  • Naira further regains strength at N425 to a dollar in parallel market

    The naira continued to regain strength and appreciate in value in the parallel market on Tuesday as it was sold for N425 to a dollar. However, it was N450 to a dollar at the close of transactions...

    • Posted March 1, 2017
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