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  • Dangote Moves to Crash Price of Cement

    Dangote Cement has announced plans to reduce the price of cement in the country. Speaking at an even this weekend, the company’s management stated that it had commenced a systematic liberalization of the product’s distribution. It disclosed...

    • Posted August 15, 2012
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  • Retail Sector Attracts N208 billion Foreign Direct Investments

    The Nigerian retail sector has attracted approximately$1.3 billion or N208 billion over the past two years. The phenomenon represents the effects of increase in consumer spending as the growth of the middle class continues to surge in...

    • Posted August 15, 2012
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  • Blackouts Persist as Striking PHCN Workers Sabotage Electricity

    Residents across the country are dealing with chronic power outages due to the ongoing strike by PHCN officials. This is despite an announcement from the Ministry of Power, indicating that the power generation in the country had...

    • Posted August 15, 2012
    • 1
  • Oando Makes New Oil Discovery in Delta State

    Oando Energy Resources Inc., a company focused on oil exploration and production in Nigeria, today announced initial drilling results from the fourth well drilled in the Ebendo Marginal Field, OML-56  (previously known as Obodeti/Obodugwa) . The EB-4 well was...

    • Posted August 15, 2012
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  • PHCN Deliberately Sabotages Electricity in Lagos Over Strike

    Residents across various suburbs in Lagos are being denied access to electricity deliberately by PHCN officials who are claiming it is their only weapon in their war against the Federal Government. Businessnews spoke to the Service Manager...

    • Posted August 14, 2012
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  • House of the Week: Astonishing N12m three-bedroom penthouse to rent in Banana Island

    You can now rent this beautiful 3 bedroom penthouse at Conaught Court, G Cappa Road, Banana Island Ikoyi. The house comes complete with bulletproof doors, CCTV, private quarters, study, server, laundry, fitted kitchen with dishwasher, washing machine,...

    • Posted August 14, 2012
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  • Starcomms, Multilinks and MTS in N32 billion Merger

    Three CDMA operators in the country, Starcomms, Multilinks and MTS are undergoing a business combination valued at $200 million or N32 billion. The new network is to be called CAPCOM, according to a report from the Guardian....

    • Posted August 14, 2012
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  • Oil Snaps Two Days Of Losses Amid Speculation on U.S. Supply

    Oil climbed, snapping two days of losses in New York on speculation that inventories declined for a third week in the U.S., the world’s biggest crude consumer. Futures rose as much as 0.5 percent before a government report tomorrow...

    • Posted August 14, 2012
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  • MainStreet Bank Back to Profitability, Records N3 billion before H1, 2012

    Mainstreet Bank is on the lookout for new suitors as AMCON seeks to dispose off the asset to foreign or a consortium of local investors. The Bank disclosed in a statement that it made N3 billion group...

    • Posted August 14, 2012
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  • CBN Clamps Down on Money Laundering Conduits: Hotels, Casinos, Forex Operators, Others Affected

    The Central Bank of Nigeria has instructed banks and other financial institutions that fall under its regulatory oversight to ensure their Designated Non-financial Institutions (DNFIs) clients are well registered with the Economic and Financial Crimes Commission. The DNFIs...

    • Posted August 14, 2012
    • 1
  • 80% of Nigerian Businesses Give Government Bribe – World Bank

    Statistics from a World Bank report indicate that 80% of Nigerian businesses offer bribes to government officials. The bank recently said Nigeria was the most attractive investment destination in Africa. However the investment assessment report also singled...

    • Posted August 14, 2012
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  • Nigeria Stock Exchange Watch: ASI (+0.15%) Starts Week Off on Positive Note

    The All Share Index climbed 0.15% today on the back of a general increase across the major sectors. All the NSE sub-indices closed upwards with the exception of the Oil and Gas sub-index which closed down by...

    • Posted August 13, 2012
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  • NICON Insurance introduces four new products

    NICON Insurance Limited under its management, led by the Managing Director/CEO, Mr. Emmanuel Akinmolu Jegede, has introduced four new insurance products into the insurance market. These products are Overseas Travel Insurance Policy (OTIP), Directors’ and Officers’ Liability...

    • Posted August 13, 2012
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  • Lagos govt commences N29b redevelopment of Ketu-Ikorodu Road

    The Lagos State Government, Monday said it has commenced the redevelopment of the Ketu to Ikorodu Township road just as it announced that it will partner with Ogun State to redevelop three federal roads linking of their...

    • Posted August 13, 2012
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