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  • N129bn contractors’ debts may stall road projects – Onolememen

    Many ongoing road projects may not be delivered this year if the huge backlog of N129 billion owed contractors by the  Federal Ministry of Works remains unpaid. The Minister of Works, Mr. Mike Onolememen, made this known...

    • Posted March 6, 2014
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  • FG to lose N100bn as textile intervention programme fails

    About N100  billion invested by the Federal Government to revive the Nigerian textile industry seems to have gone down the drain, as the Nigerian Chamber of Commerce and Industry, Mines and Agriculture, yesterday, disclosed that the Cotton...

    • Posted March 5, 2014
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  • FG to open bids for NIPP plants Friday

    The financial bids for the 10 plants constructed under the National Integrated Power Project will be opened on Friday, the Bureau of Public Enterprises has said. The Head, Public Communications, BPE, Mr. Chigbo Anichebe, disclosed this in...

    • Posted March 5, 2014
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  • Fuel scarcity: Marketers promise to commence distribution nationwide

    Oil marketers in Lagos State on Tuesday said the distribution of imported petrol to filing stations has commenced nationwide. The marketers in separate interviews in Lagos disclosed that vessels laden with imported petroleum products had berth at...

    • Posted March 5, 2014
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  • Ikeja electricity coy to partner LASG on energy conservation

    The management of Ikeja Electricity Distribution Company (IKEDC) on Tuesday said it would collaborate with the Lagos State Government on energy conservation to reduce unnecessary waste by electricity consumers. The company disclosed the plan in Lagos in...

    • Posted March 5, 2014
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  • Broadband vision will be private sector-driven – NCC

    The Nigerian broadband agenda will be private sector-driven, with the government not having any shares in the infrastructure companies to be floated for the purpose. The government will only encourage the InfraCos (as they are called) by...

    • Posted March 5, 2014
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  • CBN introduces uniform bank account opening forms

    Prospective bank customers across the country will have to fill uniform account opening forms regardless of the bank they choose to do business with. This was contained in the latest circular released by Central Bank of Nigeria....

    • Posted March 5, 2014
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  • PIB publicity: Petroleum ministry can’t explain N500m spending

    The Petroleum Ministry on Tuesday,  tried in vain to convince the Senate Committee on Gas on how it spent N500m it received in 2013 for the sensitisation of Nigerians on the Petroleum Industry Bill. There was a...

    • Posted March 5, 2014
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  • FG needs N25bn to develop Nigeria’s tourism master plan

    Minister of Culture,Tourism and National Orientation, Chief Edem Duke, said on Tuesday that his ministry required N25bn to effectively develop a befitting tourism master plan for the country. Duke stated this when he appeared before the Senate...

    • Posted March 5, 2014
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  • Investors stake N4.8bn on 341.165m shares on NSE

    Investors on the Nigerian Stock Exchange (NSE) on Tuesday exchanged 341.165 million shares worth N4.8 billion in 4,993 deals. The News Agency of Nigeria (NAN) reports that this was in contrast to the 239.864 million shares worth...

    • Posted March 4, 2014
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  • NSE to reduce trade alert annual transaction cost by N1.24bn

    The Nigerian Stock Exchange (NSE) on Tuesday said it would reduce trade alert transaction cost by N1.24 billion from March 2014. The NSE notice was contained in a statement issued in Lagos and obtained by the News...

    • Posted March 4, 2014
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  • Bank of Industry expresses concern over inaccessible loan

    Nigeria’s Bank of Industry, BOI, on Tuesday blamed the inability of entrepreneurs to access its loan facilities on the difficulty in obtaining Governor’s consent to mortgage property to be used as collateral. Managing Director of the bank,...

    • Posted March 4, 2014
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  • Petrol supply to improve by Thursday — Marketers

    Consumers are expected to get a little reprieve from the current scarcity of Premium Motor Spirit (petrol) from Thursday following the injection of about 100 million litres of the product into the system. The Executive Secretary, Major...

    • Posted March 4, 2014
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  • Forbes names Dangote 23rd richest in the world

    Foremost Nigerian industrialist, Aliko Dangote, on Monday made history by becoming the first black man to break into the rank of top 25 richest people in the world. His wealth jumped to $25bn from $16.1bn in 2013,...

    • Posted March 4, 2014
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