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  • Foreign reserves drop by $2.7bn in two months

    The nation’s foreign exchange reserves tumbled by $2.68bn in less than two months to $31.79bn as of February 23, declining at a faster pace than what financial analysts had predicted, data obtained from the Central Bank of...

    • Posted February 27, 2015
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  • E-PPAN to address sustainable development at e-Government Summit

    The E-Payment Providers Association of Nigeria (E-PPAN) has concluded plans to host the next edition of the e-Government Summit, with the theme; “E-Government: Key to Sustainable development.” Scheduled to hold in Abuja in July this year, the...

    • Posted February 27, 2015
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  • NCC, Telcos in new collaboration to improve service quality

    The Nigerian Communications Commission (NCC), the telecoms industry regulator, is in a new collaboration with telecoms operators to further improve service quality across networks. The new move is to enable both parties put heads together and agree...

    • Posted February 27, 2015
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  • Petroleum downstream subsector poorly regulated – Marketers

    Oil marketers under the aegis of the Major Oil Marketers Association of Nigeria have described the country’s petroleum downstream subsector as a poorly regulated sector considering the degree of anomalies that have characterised operations in the subsector...

    • Posted February 27, 2015
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  • FG approves $403m loans for Lagos, Rivers, Ogun, Osun

    The Federal Executive Council on Wednesday approved the request of Lagos, Rivers, Ogun and Osun states to obtain foreign loans totalling about $403m, among other approvals. It also approved a $1.2bn multi-donor credit for the establishment of...

    • Posted February 27, 2015
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  • Manufacturers to shut factories over high electricity bills

    Some manufacturers in the country have said that the increase in electricity tariffs will force them to shut down their operations in the near future if development is not urgently addressed. Different producer groups of the Manufacturers...

    • Posted February 27, 2015
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  • Nigerians have no suitable vessels for crude – Nwagbara

    The Secretary, Maritime Arbitrators Association of Nigeria, Mr. Osuala Nwagbara, tells COMFORT OSEGHALEwhy banks should partner stakeholders to build ships NIMAREX has been an annual event in the last five years and not much seems to have...

    • Posted February 27, 2015
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  • Nestle declares final dividend of N17.50

    Nestle Nigeria Plc yesterday released its results for the year ended December, where the directors recommended a final dividend of  N17.50 per share.  Considering the interim dividend of N10 paid early, the shareholders are to receive a...

    • Posted February 27, 2015
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  • FG moves to bridge $2.4tn infrastructure funding gap

    The federal government will soon begin the implementation of a strategic investment master plan to bridge the country’s huge infrastructural funding gap estimated at about $2.4 trillion within the next 30 years. The Executive Secretary/Chief Executive Officer,...

    • Posted February 26, 2015
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  • FG promises to pay N264bn outstanding subsidy claims by March end

    The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala has promised that the federal government will pay N264 billion to fuel marketers as outstanding claims on subsidy, FOREIGN EXCHANGE differentials and interest on...

    • Posted February 26, 2015
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  • Senators attack Okonjo-Iweala over poor budget implementation

    Senators on Tuesday accused the Minister of Finance, Dr. Ngozi Okonjo-Iweala, of destroying the economy by allegedly withholding funds meant for capital projects. The senators, who met behind closed doors for about two hours, were analysing the...

    • Posted February 26, 2015
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  • Obasanjo never inaugurated Olorunsogo ll Power Station – NDPHC

    The Niger Delta Power Holding Company Limited (NDPHC), owners of the National Integrated Power Project (NIPP), has refuted reports that the 750 megawatt-capacity Olorunsogo Phase 2 Power Plant built under the NIPP in Ogun State, which was...

    • Posted February 26, 2015
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  • Power generation drops as Seplat Petroleum shuts down Oben Gas Plant

    Electricity generation in the country has dropped as Seplat Petroleum Development Company Plc shuts down the Oben Gas Plant, a joint venture between the company and the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian...

    • Posted February 26, 2015
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  • FAAN allays fears of blackout at Lagos airport

    The Federal Airports Authority of Nigeria has denied a report making the rounds that it is indebted to a power distribution company. It also said there was no plan by the Ikeja Electricity Distribution Company to cut...

    • Posted February 26, 2015
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