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  • Manufacturers spend N72.6 billion yearly on diesel to power ‘gensets’

    MEMBERS of the Manufacturers Association of Nigeria (MAN) have been spending over N72. 6 billion yearly on Automotive Gas Oil (AGO), otherwise known as diesel, to power their respective generating sets, sequel to the lingering power supply...

    • Posted May 29, 2012
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  • Skye Bank Launches MoneyGram Transfer Service in Lagos

    Skye Bank launched its MoneyGram Transfer Service in Lagos yesterday, joining the 11 other banks that currently provide this service. Speaking at the event, the Managing Director of Skye, Mr. Kehinde Durosinmi-Etti said the bank would work...

    • Posted May 29, 2012
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  • Remove Subsidy Now – NNPC tells Jonathan

    The Nigerian National Petroleum Corporation (NNPC) has called on the President to remove the entire fuel subsidy in order to fully deregulate the petroleum industry in the country. The General Manager of the NNPC, Levi Ajuonuma told...

    • Posted May 29, 2012
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  • Sanusi, Ciroma, Others Voice Opposition to CBN Act Ammendment

    Several former officials of the Central Bank of Nigeria (CBN) have expressed their opposition to lawmakers plans to tamper with the autonomy of the apex financial institution. Former minister of Finance, Dr. Adamu Ciroma; pioneer director Alhaji...

    • Posted May 29, 2012
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  • Petroleum Industry Bill to outlaw gas flaring by end of 2012

    Nigeria’s newly drafted oil bill, which is now close to being finalised, mandates that oil firms must stop flaring gas by the end of this year, and that if they don’t they can be fined. Africa’s top...

    • Posted May 28, 2012
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  • Fidelity Bank’s Q1 2012 Earnings Hit N 22 billion, Net Income up 48%

    Fidelity Bank, one of Nigeria’s mid-sized banks reported its first quarter earnings to the Nigerian Stock Exchange today. Gross Earnings improved by 43% to N 22.4 billion from N 15.7 billion recorded in Q1, 2011. Interest Income...

    • Posted May 28, 2012
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  • Oando to acquire 40 per cent stake in Qua Iboe oilfield

    OANDO Exploration and Production Limited (OEPL), a subsidiary of Oando Plc, with 13 exploration and production assets, has sealed a farm-in agreement with Network Exploration & Production Nigeria Limited (NEPN) for the acquisition of 40 per cent...

    • Posted May 28, 2012
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  • “Break NNPC…We will Support You” – Rotimi Amaechi

    The Chairman of the Nigerian Governors Forum, Rotimi Amaechi has called for the dismantling of the oil behemoth – NNPC. Speaking at a retreat organized by the House of Representatives Committee on Constitution Review last weekend, the...

    • Posted May 28, 2012
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  • N 155 billion Oil Block Scam: We merely acted as Facilitators – FG

    After remaining silent for nearly a week as more and more shocking revelations surfaced in the Nigerian media, the Federal Government has finally issued a statement on the N 155 billion oil block scam. In a statement...

    • Posted May 28, 2012
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  • Private Sector Calls on Government to Suspend Electricity Tariff Hike

    The Organized Private Sector (OPS) has called on the government not to implement its proposed tariff hike scheduled for launch in a few days. Speaking to journalists in Lagos over the weekend, the Chairman of Manufacturers Association...

    • Posted May 28, 2012
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  • China Increases Orders as US Reduces Demand for Nigerian Crude Oil

    Due to surging output and refinery closures in North America, the United States has cut back its orders for supply of Nigeria’s crude oil. Nigeria was the 5th largest supplier of crude to the USA and the...

    • Posted May 28, 2012
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  • US Government Report Highlights 13 Ways the Nigerian Government is Similar to Boko Haram

    Boko Haram, with its campaign of incessant bombing commits murder and slaughters the lives of countless innocents without mercy. The Nigerian government, with its campaign of mindless corruption, diversion of public resources into private bank accounts, conversion...

    • Posted May 27, 2012
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  • In Lagos, merriment can land you in trouble!

    Forget that the word merriment is a correct English word. In the Nigeria we live in today, there are certain proper words that lose their ‘properness’ once they find their way into the mouths of certain groups...

    • Posted May 25, 2012
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  • FG Yet to Pay for SURE Buses Delivered During Protests – Supplier

    The Federal Government has yet to pay the supplier of the mass transit buses it acquired in February under the Subsidy Reinvestment and Empowerment (SURE) scheme. The supplier of the buses, VON Automobiles Nigeria Limited has alleged...

    • Posted May 25, 2012
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