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  • Power: NERC seeks review of gas supply agreements

    For electricity supply to stabilise considerably across the country, the supply of gas to power generation plants must be reviewed and separated from the Nigerian National Petroleum Corporation by the in-coming government of Maj.-Gen. Muhammad Buhari, the...

    • Posted April 23, 2015
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  • PENGASSAN advises government on job creation

    The Petroleum and Natural Gas Senior Staff Association of Nigeria has asked the government to create an enabling environment and opportunities for gainful employment to encourage Nigerians to remain in the country. In reaction to the xenophobic...

    • Posted April 23, 2015
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  • Bank customers’ biometric registration will boost retail credit – NIBSS

    The ongoing biometric registration of bank customers across the country will boost retail credit in the banking industry, the Managing Director, Nigeria Interbank Settlement System, Mr. Ade Shonubi, has said. Also known as Bank Verification Number project,...

    • Posted April 23, 2015
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  • NCAA lifts ban on Discovery Air

    The Nigerian Civil Aviation Authority on Tuesday lifted the suspension placed on the operations of Discovery Air. The ban was lifted by the Director-General, NCAA, Capt. Muhtar Usman, in a letter addressed to the management of the...

    • Posted April 23, 2015
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  • Slump in consumption may derail GDP growth

    Following the impact of lower oil and activity-stalling elections on expenditure, analysts at Renaissance Capital have stated that there is significant downside risk to their 2015 gross domestic product (GDP) growth projection of 4.5 per cent. In...

    • Posted April 23, 2015
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  • OPEC increases crude oil production by 810,000bpd

    Contrary to the expectations that the Organisation of Petroleum Exporting Countries (OPEC) will reduce the flow of crude oil to the global market to reduce the current oversupply and stabilise the plummeting prices, the organisation increased production...

    • Posted April 22, 2015
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  • Monthly oil revenue drops further by N86.42bn in March

    The country’s monthly revenue prospects further declined by as much as N86.42 billion in March as gross receipts dropped to N315.04 billion compared to N401.46 billion the previous month. Nevertheless, a total distributable sum of N435.06 billion...

    • Posted April 22, 2015
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  • NSE index falls by 0.81%

    The equities segment of the Nigerian Stock Exchange opened the week on a negative note as major market indicators declined on Monday. The NSE All-Share Index fell by 0.81 per cent or 283.44 basis points from 35,005.05...

    • Posted April 22, 2015
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  • Schlumberger to lay off 11,000 workers worldwide

    Barely few months after Schlumberger sacked 9,000 workers, the oil services company said it would cut another 11,000 from its workforce, bringing the total to 20,000, which represents about 15 per cent of the company’s staff. Following...

    • Posted April 22, 2015
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  • TCN demands upward review of transmission tariff

    The Transmission Company of Nigeria (TCN) is requesting for  an upward review of the fees it charges for transmitting electricity from generation points to distribution points in Nigeria’s electricity supply industry. Already, TCN has applied to the...

    • Posted April 22, 2015
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  • Zenith Bank declares N33.128bn pre-tax profit

    Zenith Bank Plc on Monday released its unaudited results for the three months ended March 31, 2015, declaring a profit before tax of N33.128bn for the period. The figure is 15 per cent higher than the N28.919bn...

    • Posted April 22, 2015
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  • Subsidy: NNPC dares marketers over import freeze

    The Nigerian National Petroleum Corporation has said it will not be distracted by the threat of major petroleum products’ marketers to stop importing Premium Motor Spirit this week if the subsidy arrears owed them by the Federal...

    • Posted April 22, 2015
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  • FCMB, EMP expand e-business agreement

    Emerging Markets Payments Company has announced the expansion of its e-banking agreement with First City Monument Bank Limited. According to a statement by the bank, since 2010, EMP has been providing FCMB processing services. Under the agreement,...

    • Posted April 22, 2015
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  • Sterling Bank’s Q1 profit rises by 25%

    Sterling Bank Plc witnessed a 25 per cent increase in its profit after tax for the first quarter of the 2015, its unaudited results for the period ended March 31, 2015 showed. The results, which the lender...

    • Posted April 22, 2015
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