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  • Power: Eko Disco gets N39.7bn to upgrade infrastructure

    The new owner of Eko Electricity Distribution Company, West Power & Gas Limited, has unveiled plans to invest $250m (N39.7bn) to transform the facility and improve its distribution network. The Chairman of the company, Mr. Charles Momoh,...

    • Posted November 4, 2013
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  • Budget: Five ministries seek more allocation to empower women

    Five ministries – Communication Technology, Agriculture, Water Resources, Health and Works – will receive extra budgetary allocations in 2014 for initiatives that impact on females and harness their potential in national development. Already, it was learnt that...

    • Posted November 4, 2013
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  • Bauchi to construct 120mw power plant

    Bauchi State Governor, Isa Yuguda, on Friday said that the construction of the 120 megawatts Yankari power plant would start in two months. The governor said this when the management team of SINOMAC, a Chinese energy and...

    • Posted November 3, 2013
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  • Customs impounds contraband worth N265m

    The Federal Operations Unit (FOU), Nigeria Customs Service (NCS) Zone ‘C’ Owerri, Imo State, has made a total of 31 seizures of contraband. The seizures which include 2 by 20 ft containers filled with printed textile materials...

    • Posted November 3, 2013
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  • Access Bank assures customers on innovative services

    Access Bank has reiterated its pledge of improved financial services to its customers. A statement quoted the bank’s Group Deputy Managing Director, Mr. Herbert Wigwe to have said this during an interactive session with the bank’s customers...

    • Posted November 3, 2013
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  • GM reports third quarter net income of $0.7bn

    General Motors Co.  (GM)  on Wednesday announced third quarter net income to common stockholders of $0.7 billion or $0.45 per fully diluted share, down from $1.5 billion or $0.89 per fully diluted share a year ago. Improvement...

    • Posted November 3, 2013
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  • Right balance, key in appointing my successor – Sanusi

    The Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi Friday stated that having the right balance in appointing his successor was more important than whether his successor was appointed from outside or within the...

    • Posted November 3, 2013
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  • Power sector to generate $40bn investment in 10 years – FG

    President Goodluck Jonathan on Friday said that more than $40 billion worth of investment would be generated by the power sector in the next 10 years. Jonathan, who was represented by the Minister of Industry, Trade and...

    • Posted November 2, 2013
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  • FG to give 10-year tax holiday to tyre manufacturers

    President Goodluck Jonathan in Lagos on Friday said that the Federal Government would soon commence a 10-year tax holiday for local tyre manufacturers. Jonathan made the declaration at the opening ceremony of the 2013 Lagos International Trade...

    • Posted November 2, 2013
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  • CBN restates pledge to reduce unbanked population

    The Central Bank of Nigeria (CBN) has reiterated its commitment to reducing the number of Nigerians without bank accounts to the barest minimum by the year 2020. It said the move was in line with the 2011...

    • Posted November 2, 2013
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  • Why IRS, Chanchangi airlines grounded operations

    There are indications that Chanchangi and IRS airlines may have voluntarily grounded their operations without waiting for the Nigerian Civil Aviation Authority (NCAA) to do so. Daily Independent gathered that both airlines were grounded for the same reasons; owed...

    • Posted November 2, 2013
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  • Shell’s profits hit by crude theft in Nigeria

    Royal Dutch Shell, on Thursday said the frequent crude output stoppages in Nigeria took its tolls on the company’s 2013 third quarter profits and performance, which undershot analysts’ forecasts. The company faces incessant production shut-in in Nigeria, weak...

    • Posted November 2, 2013
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  • FG to review Lagos trade fair complex concession

    The Federal Government has said it has concluded plans to review the concession of the Lagos International Trade Fair Complex. President Goodluck Jonathan said this in Lagos on Friday at the opening ceremony of the Lagos International...

    • Posted November 2, 2013
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  • Oando, MFBs to drive cooking gas consumption

    A  petroleum product retailer, Oando Marketing Plc, has signed a Memorandum of Understanding with the National Association of Microfinance Banks to encourage the mass consumption of Liquefied Petroleum Gas in the country. The most significant aspect of...

    • Posted November 2, 2013
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