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  • Marketers seek N165 petrol price, FG says no

    Petroleum product marketers have demanded an upward review in the pump price of the Premium Motor Spirit (also known as petrol). This, they said, would make importation of the product profitable. They said the free fall of...

    • Posted September 7, 2016
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  • CBN moves to sanction banks over power intervention fund

    The Central Bank of Nigeria has unveiled sanctions grid to Deposit Money Banks participating in the disbursement of the N213bn Nigeria Electricity Market Stabilisation Facility, popularly called power sector intervention fund. The sanctions were contained in a...

    • Posted September 7, 2016
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  • UBA confirms 25% subsidiaries’ contribution to profit

    The Group Managing Director/ CEO, United Bank for Africa, Mr. Kennedy Uzoka, has said the banks African subsidiaries contributed 25 per cent of the group’s profit and account for over a quarter of its  overall total deposit...

    • Posted September 7, 2016
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  • 2017 budget:FG proposes another N500bn for social intervention

    The Federal Government said it would again set aside the sum of N500bn in the 2017 budget for its social intervention programme. The amount when added to the N500bn earlier approved for the same purpose this year...

    • Posted September 7, 2016
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  • Recession: Analysts canvass collaboration between regulators, banks

    Financial analysts in the country have called for a strong collaboration between financial sector regulators and the banking industry to chart an ideal course, given the receding state of the economy. They identified huge communication gaps among...

    • Posted September 6, 2016
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  • FG targets $100bn from Indian agric market

    The Federal Government has announced its readiness to partake in the $100bn market for pulses(food crops) in India as it has commenced moves to start growing the plant in commercial quantity for export to the Asian country....

    • Posted September 6, 2016
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  • Telecoms industry contributed N1.8tn to Q2 GDP

    The National Bureau of Statistics on Sunday said the  telecommunications  sector  contributed  N1.58tn in real terms to the country’s second quarter Gross Domestic Product. It said the second quarter performance for the telecoms sector represented about 9.8...

    • Posted September 6, 2016
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  • NIMC pledges commitment to single database, begins data harminisation

    Efforts by the federal government to create a single database for Nigeria have started yielding results, as the National Identity Management Commission (NIMC) said weekend that it has begun the process of harmonisation of existing data that...

    • Posted September 6, 2016
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  • NPA may sanction port terminal operators over alleged violation of concession agreement

    There are indications that the Nigerian Port Authority (NPA) may impose sanctions against terminal operators at the nation’s ports for allegedly violating concession agreement as regards port development. THISDAY gathered that in fighting among the operators is...

    • Posted September 6, 2016
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  • NANTA declares state of emergency in aviation sector

    In order to save the air transport sector, which is described as a catalyst to economic development of any nation, the President of the National Association of Nigerian Travel Agencies (NANTA), Mr. Bankole Bernard has urged authorities...

    • Posted September 6, 2016
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  • Shippers’ Council decries excessive charges at ports

    The Executive Secretary/Chief Executive Officer, Nigerian Shippers’ Council, Mr. Hassan Bello, has said the operational efficiency achieved from the concession of the nation’s ports is being eroded by excessive charges, among other challenges. Bello said since the...

    • Posted September 5, 2016
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  • Nigerians vow to fight fuel price hike

    The Nigeria Labour Congress, Trade Union Congress, Afenifere, former federal lawmakers, security experts and rights activists, on Saturday vowed to resist any attempt by the President Muhammadu Buhari’s government to further increase fuel price. They stated this...

    • Posted September 5, 2016
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  • PFAs invest N1.7bn in infrastructure

    The total funds invested by operators of the Contributory Pension Scheme in infrastructure have risen to N1.7bn. Statistics obtained by our correspondent also showed that the total pension assets under management of the operators in July 2016...

    • Posted September 5, 2016
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  • Power plants lose 1,552MW

    More than six months after the nation’s electricity generation dropped below 3,000 megawatts, output from the power plants is still 1,552MW lower than the peak achieved in February. Power generation stood at 3,523.10MW as of 6am on...

    • Posted September 5, 2016
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