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  • RMAFC wants VAT raised to 10%

    The Revenue Mobilisation Allocation and Fiscal Commission on Thursday called on the Federal Government to raise the rate of the Value Added Tax from the current five per cent to between 7.5 per cent and 10 per...

    • Posted July 16, 2016
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  • Why electricity crisis lingers – Minister

    The electricity crisis in the country is lingering because of the overreliance on gas for power generation and hydroelectricity, the Minister of Science and Technology, Dr. Ogbonnaya Onu, has said. Onu said this at the opening of...

    • Posted July 16, 2016
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  • Power: NERC to reverse 45% tariff hike

    The Nigerian Electricity Regulatory Commission on Thursday said it would uphold the court ruling mandating it to reverse the 45 per cent increase in electricity tariffs across the country, six months after implementing the Multi Year Tariff...

    • Posted July 16, 2016
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  • Government revenue profile rising – Udoma

    The Federal Government on Thursday said that the nation’s revenue profile had started rising due to increased oil production and improved access of manufacturers to foreign exchange for the importation of goods into the country. The Minister...

    • Posted July 16, 2016
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  • Nigerian Breweries records 11% profit decline

    Nigerian Breweries Plc has recorded a profit after tax (PAT) of N19.06 billion for the half year ended June 30, 2016. The performance showed a decline of 11 per cent compared to N21.477 billion recorded in the...

    • Posted July 16, 2016
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  • Fitch affirms FirstBank’s stable outlook on viability ratings

    ……As The Bank targets expansion with Agency Banking Fitch, a global leader in credit ratings and research on Monday affirmed the Viability Ratings (VR) for FirstBank of Nigeria Limited at “B” even as the lender ranks above...

    • Posted July 15, 2016
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  • Market records N44bn loss as 25 stocks depreciate

    A total of 25 stocks depreciated at the end of trading on the floor of the Nigerian Stock Exchange on Wednesday. This resulted in the NSE market capitalisation dropping by N44bn. The market capitalisation closed at N9.868tn...

    • Posted July 15, 2016
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  • Private equity firms eye Africa for oil investments

    Private equity firms are increasingly looking to deploy more capital into the African oil and gas sector amid rising energy demand on the continent, a global survey of 100 PE firms active in the sector released by...

    • Posted July 15, 2016
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  • FG stops remittance of workers’ pension deductions

    The Federal Government has not been remitting the pension contributions of most of its workers into their Retirement Savings Accounts under the Contributory Pension Scheme since October last year. This revelation was contained in the 2016 annual...

    • Posted July 15, 2016
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  • MDAs borrowed N178.56bn for infrastructure – DMO

    Federal Ministries, Departments and Agencies are indebted to the Federal Government to the tune of N178.56bn. The Debt Management Office, which disclosed this in a report entitled: ‘Federal Government On-lent Loans to MDAs’, said 11 MDAs benefitted...

    • Posted July 15, 2016
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  • FG woos insurers to invest in infrastructural development

    The federal government has solicited the collaboration of insurance industry operators in infrastructural development in the country, just as it has said that henceforth, only contractors with prove of compliance with Workmen Compensation Act would be allowed...

    • Posted July 15, 2016
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  • BEDC to install additional 100,000 meters this year

    The Benin Electricity Distribution Plc. (BEDC) has announced plan to install additional 100,000 meters for domestic and commercial customers for the remainder of this year. The company stated this at a press briefing during the 7th monthly...

    • Posted July 15, 2016
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  • New airport terminals nearing completion – FAAN

    The Federal Airports Authority of Nigeria has said the new terminals being constructed at four international airports located in Lagos, Port Harcourt, Kano and Abuja are at advanced stages of completion. The General Manager, Corporate Communications, FAAN,...

    • Posted July 14, 2016
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  • NCC boss to address stakeholders on IGR

    The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Professor Umar Garba Danbatta, is billed to make presentation at a two-day retreat on enhancing Internally Generated Revenue (IGR) for Ministries Departments and Agencies (MDAs) of...

    • Posted July 14, 2016
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