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  • Nigeria earns $24bn in dividends, revenue from NLNG in 15 years

    Company’s total assets valued at $14bn  Over 4tcf of associated gas captured from flaring Chineme Okafor in Abuja The Nigeria Liquefied Natural Gas (NLNG)  at the weekend in Abuja said the country had earned as much as...

    • Posted March 18, 2014
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  • Court stops BPE’s bidding for three power stations

    An Abuja Federal High Court has stopped the Bureau of Public Enterprises from going ahead with the bidding for the privatisation of three power stations pending the determination of a suit filed against the exercise. Following the...

    • Posted March 18, 2014
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  • Total denies shutting Ofon-2 project

    Total E&P Nigeria Ltd, the operator of the NNPC/Total Joint Venture, has denied recent media reports claiming it had shut down its Ofon-2 project. The denial comes even as the company acknowledged receipt of a notice of...

    • Posted March 18, 2014
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  • NERC abolishes flat tariff system

    NIgerian electricity consumers may no longer pay flat tariff rate, if the promise of the Nigerian Electricity Regulatory Commission, NERC, is anything to go by. The Special Adviser, Research and Strategy, NERC, Mr. Uche Okoro, stated this...

    • Posted March 18, 2014
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  • NCAA clears Medview

    The Nigerian Civil Aviation Authority has given Medview Airlines a clean bill of health after conducting a test flight on its aircraft on Sunday. A statement by Medview said the 30-minute testflight took the aircraft from Lagos...

    • Posted March 18, 2014
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  • Inflation rate drops to 7.7% – NBS

    The National Bureau of Statistics on Sunday released the Consumer Price Index, stating that the country’s inflation rate dropped from eight per cent in January to 7.7 per cent in February. The report signed by the Statistician-General...

    • Posted March 18, 2014
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  • Sovereign Trust Insurance settles N1.7bn claims

    Sovereign Trust Insurance Plc said it paid N1.7bn claims to its policyholders in the 2013 financial period. A statement from the firm, which was obtained on Sunday, showed that energy insurance claim recorded the highest figure of...

    • Posted March 18, 2014
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  • PFAs invest N609.8bn pension funds in shares

    By November last year, the Pension Fund Administrators had invested N609.8bn in shares, or about 15 per cent of the entire pension funds that stood at N4tn at the end of the 2013 financial period. According to...

    • Posted March 18, 2014
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  • Court orders returns of N7bn to NIMASA

    The Lagos division of the Court of Appeal last Friday ordered the return of the sum of N7 billion to the coffers of the Nigerian Maritime Administration and Safety Agency (NIMASA) in an appeal between the agency...

    • Posted March 18, 2014
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  • Trading opens for the week on a bearish note

    Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a bearish note as transactions dropped both in value and volume terms. The value of shares traded dropped by 35.47 per cent, while...

    • Posted March 17, 2014
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  • NCC alarmed over telecom equipment vandalisation

    THE Nigerian Communications Commission (NCC), yesterday, raised the alarm that vandalisation of telecommunication equipment across the country contributes negatively to quality and availability of services. Consequently, the Commission appealed to state governors  to assist in the passage of...

    • Posted March 17, 2014
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  • NNPC pumps additional 956m litres of petrol

    THE Nigerian National Petroleum Corporation, NNPC, weekend, said it has pumped additional 956, 501,315 million litres of premium motor spirit, petrol, to the market as part of efforts to restore normalcy to the fuel situation in the...

    • Posted March 17, 2014
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  • Nigeria earns $50bn from gas exportation in 15 years

    Nigeria has earned over $50 billion as proceeds from exportation of liquefied natural gas in the last 15 years, Managing Director and Chief Executive Officer of Nigeria LNG Limited, Mr. Babs Omotowa, has said. Omotowa, who disclosed...

    • Posted March 17, 2014
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  • UBA banks on electronic channel to drive financial inclusion policy

    With a commitment to serve and deliver quality services to customers and all its various stakeholders, United Bank for Africa Plc,(UBA) has introduced a diverse range of electronic banking products into the market which include the U-mobile...

    • Posted March 17, 2014
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