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  FG to build two power transmission stations in Ebonyi

  The Federal Government said it would build two transmission stations in Abakaliki to enhance power delivery in the area. The General Manager (Transmission), Enugu Transmission Region, Mr Geoffrey Nwokoye, made this known when he paid a courtesy...

  • Posted February 15, 2014
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  Reps to probe $446.4m demurrage on imported petrol

  The House of Representatives on Thursday ordered an investigation into the $446.4m that the Federal Government allegedly paid to 16 foreign shippers in the last three months as demurrage on imported petrol. The 16 vessels are said...

  • Posted February 15, 2014
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  FAAC: FG, states, LG share N629.12bn for January

  The Federal Government, states and local governments in Abuja on Thursday shared f N629.12 billion from the Federation Account for January. The Accountant-General of the Federation, Mr Jonah Otunla, made the announcement when he briefed newsmen on...

  • Posted February 14, 2014
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  Inflation rate unchanged at 8% – NBS

  The National Bureau of Statistics on Wednesday night released the Consumer Price Index for the month of January. In the report signed by the Statistician-General of the Federation, Dr. Yemi Kale, the bureau said the CPI, which...

  • Posted February 14, 2014
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  Nigerian-bound vessels laden with rice berth at Benin Republic

  MORE twenty vessels laden with rice  that sailed into Nigerian ports have gone to Benin Republic as importers have refused the ships to berth due to the high duty rate. Disclosing this newsmen in Lagos, Chairman of the...

  • Posted February 14, 2014
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  Nigerian seaports remain most expensive — Terminal operators

  Seaport Terminal Operators Association of Nigeria (STOAN) has attributed the high cost of doing business in Nigerian ports to the multiple taxation and high duty on cargoes. Speaking with newsmen in Lagos, the Chairman of STOAN, Princess Vicky...

  • Posted February 14, 2014
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  Telecoms firms blame government for poor services

  Following the threat by the Minister of Communication Technology, Mrs. Omobola Johnson, to stop the sale of new Subscriber Identity Module cards, telecoms operators in the country have said that negligence by the government is part of...

  • Posted February 14, 2014
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  Eko, Ikeja Discos to stop estimated billing

  The Eko Electricity Distribution Company and its Ikeja counterpart, the two Discos covering Lagos State and some parts of Ogun State, have vowed to eradicate estimated billing with their new metering system, which they promised would be...

  • Posted February 14, 2014
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  Naira falls to lowest since 2011

  The naira weakened for a second day to its lowest since 2011 as investor inflows were said to have slowed and foreign-exchange demand remained strong after the Central Bank of Nigeria lifted limits on sales of dollars....

  • Posted February 14, 2014
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  Oil revenue falls 19% below budget estimate — CBN

  The gross oil revenue for November last year fell by 19.1 below the monthly budget, according to the Central Bank of Nigeria’s latest monthly economic report. The CBN report stated that at N521.28bn gross oil receipts, which...

  • Posted February 14, 2014
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  FG, states to spend N11.14tn this year – Report

  The total amount budgeted by the 36 states of the federation and the Federal Government has been estimated at N11.14tn, according to a new report. The report by BGL Plc, a Nigeria-based financial research firm, shows that...

  • Posted February 13, 2014
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  To meet energy target Africa needs $40 bn investment annually — EU

  The European Union (EU) on Wednesday said Africa needs 40 billion dollars worth of annual investment to meet its energy needs by the year 2040. EU’s Special Representative to the African Union, Mr Gary Quince, said this...

  • Posted February 13, 2014
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  Nigeria receives $23m grant from GEF for environmental projects

  Nigeria has received grants totalling 23 million dollars in four years from the Global Environmental Facility (GEF), under its “Big Full Size” project funding, a desk officer, has said. Mrs Halima Mohammed, GEF’s Desk Officer in the...

  • Posted February 13, 2014
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  Power firms need to spend $23.9bn – BPE

  Power companies in the country require $23.9bn in capital expenditure over the next five years, the Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, has said. Dikki said this at a forum in Abuja, according to a...

  • Posted February 13, 2014
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