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  • Forcados crude exports may be halted for months

    Nigeria’s Forcados crude oil exports may remain halted for a month or more as pipeline repairs continue following a rash of militant attacks since February, according to an industry source familiar with the matter. The Shell Petroleum...

    • Posted July 24, 2016
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  • We’re losing N238bn monthly to theft – Power firm

    The Port Harcourt Electricity Distribution Company has said it loses over seven million kilowatt-hour, an equivalent of over N238bn, to direct electricity theft a month. The Head, Revenue Protection Department, PHED, Mr. Nsika Udi, said on Friday...

    • Posted July 24, 2016
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  • NSE market capitalisation drops by N116bn

    Nigerian equity market for the fifth consecutive day extended down trend with the market capitalisation losing N116 billion due to price loses posted by major blue chips. The market capitalisation on Friday  shed N116 billion or 1.21...

    • Posted July 24, 2016
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  • FG opposes electricity tariff reversal, backs NERC

    The Federal Government on Thursday opposed the court ruling that mandated it and the Nigerian Electricity Regulatory Commission to reverse the 45 per cent increase in power tariffs payable by consumers across the country. It also commended...

    • Posted July 23, 2016
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  • FG to start international borrowing in Q3 – Adeosun

    The Federal Government will start borrowing abroad in the third quarter, the Minister of Finance, Mrs. Kemi Adeosun, has said. This is coming barely one week after the Central Bank of Nigeria floated the naira completely on...

    • Posted July 23, 2016
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  • Government fixes fares for Abuja-Kaduna rail service

    The Federal Government is set to inaugurate the completed Abuja-Kaduna rail project and has fixed the boarding fees for passengers who intend to use the facility. The Minister of Transportation, Rotimi Amaechi, who was accompanied on the...

    • Posted July 23, 2016
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  • Danbatta lists importance of broadband to national development

    The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Professor Umar Garba Danbatta has reiterated the importance of broadband to national development, just as he urged Nigerians to support the national broadband policy of the federal...

    • Posted July 22, 2016
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  • Wema Bank posts positive half-year results

    Wema Bank Plc’s unaudited results for the six-month ended June 30th, 2016 have shown that the bank recorded a 10 per cent improvement in profitability on the back of 42 per cent growth in fee income. Specifically,...

    • Posted July 22, 2016
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  • Indian refiners shun Nigeria’s oil, turn to Malaysia

    A number of Indian state-owned refiners have been actively picking up Malaysian oil cargoes for loading in July and August amid growing uncertainty over the exports of Nigeria’s crude grades, according to regional sweet crude traders. Bharat...

    • Posted July 22, 2016
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  • Customs target more revenue from excise duties

    In a renewed drive to shore up its revenue base, the Nigeria Customs Service has targeted the enforcement of excise duty payments. The Coordinator, Zone A, NCS, Eporwei Edike, made the call during a visit to the...

    • Posted July 22, 2016
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  • FG issues guidelines on wood exports

    THE Federal Government has issued guidelines on the felling of trees and exportation of wood. The Director of Forestry, Federal Ministry of Environment, Phillip Bankole, made this known recently while announcing the suspension of the ban on...

    • Posted July 22, 2016
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  • Recall sacked workers – FG tells oil firms

    The Federal Government has asked oil majors, which recently sacked some of their workers, to recall the affected employees. In order to retain jobs in the oil and gas sector, the Minister of Labour and Employment, Senator...

    • Posted July 22, 2016
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  • Diamond Bank reportedly sacks over 400 staff, ‘refuses’ to pay entitlements

    Diamond Bank has been accused of sacking over 400 of its workers in a manner that contravenes the provisions of redundancy as specified by section 20 of the Labour Act as well as other regulations, standards and...

    • Posted July 21, 2016
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  • Oando envisages lower earnings on naira devaluation

    Oando Plc has said it would record lower earnings for the second quarter ended June 30, 2016. In a notification to the Nigerian Stock Exchange (NSE), the oil firm said the lower earnings would result from the...

    • Posted July 21, 2016
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