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  • Nigeria’s import of US kerosene hits record high

    Nigeria’s monthly import of kerosene from the United States hit the highest in October last year since 1995, when the country imported its first cargo from the US, data obtained from the Energy Information Administration, the statistical...

    • Posted January 3, 2015
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  • Oil slump: FG may borrow from World Bank, others

    The Federal Government, in a bid to cushion the impact of oil price drop on the nation’s economy, is seeking external loans worth $5.7bn (N2.97tn) from its development partners to finance infrastructure projects contained in the 2015...

    • Posted January 3, 2015
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  • Council Seeks decongestion of Lagos Ports

    In a bid to address the congestion in the nation’s seaports, especially the ones situated in Lagos, the Chairman of the Ports Consultative Council (PCC), Chief Kunle Folarin has called on the federal government to initiate measures...

    • Posted January 3, 2015
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  • Cargo clearance at Lagos Airport on course – Nahco

    The Nigeria Aviation Handling Company Plc (nahco aviance) has said clearance of goods at the cargo terminal of the Murtala Muhammed International Airport, Ikeja, Lagos,  is on-going and  will end by the first week of January. This...

    • Posted January 3, 2015
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  • Auto Policy: Hard times await importers, freight forwarders

      As the federal government begins the implementation of the new auto policy this year, hard times await importers of used vehicles into the country. Also to be affected are concessionaires in the nation’s seaports who specialised...

    • Posted January 3, 2015
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  • Nigeria loses N170bn to gas flaring

    Nigeria lost about $1bn (N170bn) as oil companies operating in the country flared a big chunk of the gas produced from January to September 2014, analysis of data obtained from the Nigerian National Petroleum Corporation has shown....

    • Posted January 3, 2015
    • 0
  • Online businesses, services account for 51% of GDP

    The services sector, including online businesses, accounted for more than 51 per cent of Nigeria’s Gross Domestic Product by the end of December 2014, according to findings from a study published by The Africa Report. The report...

    • Posted January 3, 2015
    • 0
  • NNPC, DPR promise adequate fuel supply in the New Year

    The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians of adequate supply of petroleum products during the New Year celebrations and beyond. The Group General Manager, Group Public Affairs Department, NNPC, Mr. Ohi Alegbe, stated this in...

    • Posted January 2, 2015
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  • Equities Market sheds N1.748tn to close 2014 at N11.478tn

    As has been indicated, the Nigerian equities market closed 2014 on a negative note after recording growths in 2012 and 2013. At the close of trading for the 2014 year on Wednesday, the benchmark index, the Nigerian...

    • Posted January 2, 2015
    • 0
  • Naira closes 2014 at 193 to dollar

    The naira closed the year 2014 on Wednesday at 181.50 to the United States dollar at the interbank market and between 191 and 193 on the streets, against the 160.60 recorded on December 31, 2013. The local...

    • Posted January 2, 2015
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  • CBN revokes licences of 21 primary mortgage banks

    The Central Bank of Nigeria (CBN) has revoked the operating licences of 21 Primary Mortgage Banks (PMBS) as well as one microfinance bank and directed the Nigeria Deposit Insurance Corporation (NDIC) to commence the process of orderly...

    • Posted January 2, 2015
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  • BPP saves N8.9bn on contracts in three months

    The Bureau of Public Procurement has saved about N8.9 billion for the federal government between April and June 2014 through cost reduction of contracts. This is contained in the bureau’s 2014 Second Quarter Report made available to...

    • Posted January 2, 2015
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  • First Bank, Etisalat boost mobile money initiative

    First Bank of Nigeria and Etisalat have collaborated to boost the mobile money payment channel in the country. A statement by the lender said the development would boost financial inclusion and impact significantly on the uptake of...

    • Posted January 2, 2015
    • 0
  • FG shifts Tokunbo car tariff increase to April

    The Federal Government may have bowed to pressure on the implementation of the 70 per cent tariff on imported used vehicles by postponing its enforcement to April 30, 2015. This is the third time in six months...

    • Posted January 2, 2015
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