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  • NIMET, accident bureau move to prevent air mishaps

    The Nigerian Meteorological Agency and the Accident Investigation and Prevention Bureau have announced that they have doubled their efforts to enhance aviation safety and security this year. The spokesperson, Aviation Parastatals, Mr. Yakubu Dati, who gave the...

    • Posted January 10, 2014
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  • Oando nears completion of $1.66bn asset acquisition

    Oando Plc, an indigenous energy group listed on both the Nigerian and Johannesburg stock exchanges, on Wednesday said it was on the verge of completing its purchase of ConocoPhillips’ Nigerian assets valued at $1.66bn. SBG Securities’ oil...

    • Posted January 10, 2014
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  • FG lifts ban on oil bunkering operations

    The Federal Government has given a nod for the resuscitation of oil bunkering operations in the nation’s territorial waters. According to experts, bunkering is like running a gas station on the sea. It provides fuel such as...

    • Posted January 10, 2014
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  • Investors exchange 322.28 million shares on Thursday

    Transactions at the Nigerian Stock Market ended on Thursday with investors exchanging 322.28 million shares worth N3.25 billion in 5,509 deals. This was in contrast with the 361.31 million shares valued at N3.84 billion that was traded...

    • Posted January 9, 2014
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  • FCMB signs $150million loan deal with Commerzbank, others

    First City Monument Bank(FCMB) Limited has signed a $150m senior unsecured term loan deal with Commerzbank Aktiengesellschaft and Standard Chartered Bank. According to the bank, the agreement represented its largest fundraising in the commercial bank syndicated loan...

    • Posted January 9, 2014
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  • Nigeria needs N500bn annually for four years to have a sustainable road network – Minister

    The Minister of Works, Mr Mike Onolememen, on Wednesday in Abuja said that Nigeria needs N500 billion annually for four years to have a sustainable road network. Onolememen said this while answering questions at the News Agency...

    • Posted January 9, 2014
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  • Toll gates, weigh bridges to return to Nigerian roads – Onolememen

    As a way of maintaining roads in Nigeria, the Federal Government is set to reintroduce toll gates and weigh bridges to roads Works Minister Mike Onolememen said on Wednesday in Abuja. Onolememen disclosed this while fielding questions...

    • Posted January 9, 2014
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  • FG to float new mortgage company

    The Federal Government on Wednesday announced plans to establish a new Nigeria Mortgage Refinance Company (NMRC) to revive the housing sector. A report released by the Ministry of Finance on Federal Government Projects in 2014, said in...

    • Posted January 9, 2014
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  • All Norwegians become crown millionaires in oil saving landmark

    Everyone in Norway became a theoretical crown millionaire on Wednesday in a milestone for the world’s biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices. Set up in 1990, the fund owns...

    • Posted January 9, 2014
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  • Investors to raise N117bn for Lagos-Ibadan Expressway reconstruction

    Indication emerged on Tuesday that the reconstruction of the Lagos-Ibadan Expressway would be largely private-sector financed. The Federal Government said it had made a provision for N50bn, representing 30 per cent of the N167bn cost of the...

    • Posted January 9, 2014
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  • NLC demands urgent passage of PIB

    NIGERIA Labour Congress, NLC, has declared as unacceptable the fact that the Nigeria’s petroleum sector is still regulated by the old Petroleum Act of 1969, calling on the National Assembly to immediately pass the protracted Petroleum Industry...

    • Posted January 9, 2014
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  • Presidency, police insurance, bank charges to gulp N556m

    The Presidency, ministries of Agriculture and Rural Development and Finance, as well as police formations and commands, among others, are to spend the sum of N555.98m on financial expenses such as bank charges and insurance premium this...

    • Posted January 9, 2014
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  • External reserves fall by $301m as Naira loses 2 kobo

    The nation’s external reserves continued its downward trend as it fell by $301 million to $43.31 billion  from $43.61 billion in the first six days of 2014. Meanwhile, the naira depreciated marginally by two kobo at the...

    • Posted January 9, 2014
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  • Presidency to get draft revenue formula soon – RMAFC

    The draft revenue formula will soon be sent to the Presidency, the Revenue Mobilisation Allocation and Fiscal Commission has said. In a telephone interview with our correspondent in Abuja on Tuesday, the Head, Public Relations, RMAFC, Mr....

    • Posted January 9, 2014
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