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  • 2014 Budget: Reps recommend 79 dollars per barrel as oil price benchmark

    The House of Representatives on Tuesday resolved to retain 79 dollars per barrel as the bench mark for the oil price for the 2014 budget. The Deputy Chairman of the House Committee on Media and Public Affairs,...

    • Posted December 4, 2013
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  • Electricity bill payment not suspended – NERC

    The Nigerian Electricity Regulatory Commission (NERC) has said the payment of electricity bills by consumers nationwide was never suspended in the newly privatised power sector. Chairman of the Commission Dr. Sam Amadi stated this during a meeting...

    • Posted December 4, 2013
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  • Investors reap N104bn from one week profit taking on NSE

    Investors’ sustained appetite for capital gains on the Nigerian Stock Exchange (NSE) last week impacted negatively on the overall value of listed equities and bonds. At the end of the weekly transactions, the market capitalisation of the...

    • Posted December 4, 2013
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  • FG commissions 15MVA substation in Abuja

    The federal government has commissioned a double 15MVA injection substation at Apo in Abuja as part of its projects to improve electricity distribution networks and adequate power supply across the country. In his address, the Managing Director...

    • Posted December 4, 2013
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  • FG begins 24-hour surveillance on Lagos-Ibadan Expressway

    The Federal Government says it has commenced 24-hour surveillance on sections of the Lagos-Ibadan Expressway, where major reconstruction work is currently ongoing. It said the move was aimed at ensuring an effective traffic control during the reconstruction....

    • Posted December 4, 2013
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  • Nigeria to service debts with N2.08tn in three years

    THE Federal Government plans to spend a whopping N2.08tn to service its debts in the next three years. This came just as findings also showed that the country’s debt profile under the current Minister of Finance, Dr....

    • Posted December 4, 2013
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  • Senate warns power firm owners against high tariff

    The Senate on Monday cautioned the new owners of the recently privatised power firms not to overburden electricity consumers with high tariffs. Although the Senate stated that it had not received any official document showing an increase...

    • Posted December 4, 2013
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  • Discovery Airways to begin commercial flight operations on December 15

    The latest entrant into the Nigerian aviation industry, Discovery Airways Ltd., may commence commercial flight operations by Dec.15, its Managing Director, Capt. Abdulsalami Mohammed, has said. Mohammed said this in Ikeja on Monday via a statement issued...

    • Posted December 3, 2013
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  • NSE ASI down by 0.23% on Tuesday

    Transactions on the floor of the Nigerian Stock Exchange, NSE, ended on a bearish note on Tuesday with the All Share Index, ASI, closing lower at 38,955.42 basis points losing by 89.65 points or 0.23 percent when...

    • Posted December 3, 2013
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  • Oando to complete $1.68bn ConocoPhillips acquisition January 31

    Oando Energy Resources, the Upstream subsidiary of Oando Plc listed on the Toronto Stock Exchange, has said it will complete the $1.68bn acquisition of the Nigerian assets of ConocoPhilips on January 31, 2014. The company, in a...

    • Posted December 3, 2013
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  • Banks move to checkmate activities of e-fraudsters

    Banks have commenced moves to protect their customers from the rising wave of electronic fraudsters by fortifying their internet platforms with additional security features. In recent times e-fraudsters have been bombarding bank customers with scam mails with...

    • Posted December 3, 2013
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  • Reducing interest rate will raise inflation – Sanusi

    The Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, has explained why the Monetary Policy Committee has not reduced its interest rate for a long period. The CBN governor  spoke at the fifth anniversary of...

    • Posted December 3, 2013
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  • FG okays FCT economic summit on investment

    The Federal Government has approved a special Abuja Economic Summit to unleash the huge economic and investment potential of the Federal Capital Territory. The event is also expected to serve as a forum for exploring an alternative...

    • Posted December 3, 2013
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  • Contractors sue Energy Commission over N8.9bn debt

    The Association of Rural Electrification Contractors of Nigeria has dragged the Energy Commission of Nigeria and the Ministry of Finance before an Abuja Federal High Court over N8.9bn debt. Those listed as defendants in the suit are...

    • Posted December 3, 2013
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