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Vono profit rises to N121m
Vono Product Plc has said it recorded N121m gross profit in its 2012 financial period. In a statement on Thursday, the outgoing Chairman of the firm, Mr. Bashiru Lasisi, disclosed this during the...
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Oil block buyers risk losing operating rights
GMD, Nigeria National Petroleum Corporation (NNPC), Engr. Andrew Laah Yakubu Nigeria’s state oil company warned investors interested in three shallow water oil blocks offered for sale by Chevron that...
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The world’s biggest mutual fund takes a $41bn hit
With investors anticipating the end of the Federal Reserve’s stimulus program, the biggest mutual fund in the world, Pimco’s Total Return Fund, took a $41 billion hit over the past four months after...
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Nigeria’s GDP rose by 6.18 per cent in Q2 -NBS
The National Bureau of Statistics, on Friday, released the country’s Gross Domestic Product for the second quarter of 2013. It stated that on an aggregate basis, the economy grew by 6.18 per cent. A...
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Enugu Disco: Final decision expected this week
As tempers rise over the controversial sale of the Enugu Distribution Company, indications emerged at the weekend that the Federal Government may have bowed to pressures to clear the way for a meeting...
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Registration policy: Private jet owners defy FG
Owners and operators of foreign-registered private jets in the country are not ready to de-register them to enable their planes become Nigeria-registered in line with the new National Civil Aviation...
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FG to hold bidders’ conference on sale of 10 power plants
Indications have emerged that the federal government will later this month hold a bidders’ conference on the 10 power stations built under the National Integrated Power Project (NIPP) that are...
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Sanusi justifies diversification of Nigeria’s reserves
The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, Monday justified the central bank’s decision to diversify the country’s reserve base from the United States dollar by...
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Aliko Dangote gets $3.3billion loan from 12 banks to build oil refinery
12 local and international banks have loaned Africa’s richest man and foremost industrialist Aliko Dangote $3.3 billion to build Nigeria’s biggest petroleum refinery and petrochemical/fertilizer...
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Transformation Agenda: Aganga predicts economic growth
The Minister of Industry, Trade and Investment, Dr Olusegun Aganga, says Nigeria’s hope of economic growth is very bright due to the numerous transformation programmes of the present administration....
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Oteh: Micro-insurance critical for economic transformation
The Director General, Securities and Exchange Commission (SEC), Ms. Arunma Oteh, Tuesday described the provision of micro-insurance products as critical for the country’s development. Speaking in Abuja...
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Infrastructure Bank to raise N167bn for Lagos-Ibadan Expressway
The federal government has mandated the Infrastructure Bank Plc to raise the N167 billion required for the reconstruction of the 127-kilometre Lagos-Ibadan dual carriage-way. The Managing Director of...
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How global crisis, culture of impunity affected Nigerian financial system
The near collapse of the Nigerian financial system few years back has been blamed on the 2008 global financial crisis and the pervasive culture of impunity in the country then. Bloomberg News quoted...
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Cargo terminal to be built in Benue
The Benue State government has got approval for a cargo terminal to be built in Makurdi, the state capital, Commissioner for Information and Orientation, Justine Amase has said. Makurdi, the state...
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FG, Akwa Ibom Government to commence construction of Ibaka seaport
The Akwa Ibom Government says it is committed to commencing the construction of Ibaka Deep Seaport in partnership with the Federal Government. Gov. Godswill Akpabio said this at a gala night organised...
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IMF laments disappointing performance of some countries despite natural wealth
IMF Chief,Christine Lagarde Resource-rich countries perform more poorly on the human development index than do non-resource-rich countries. The International Monetary Fund, IMF, has expressed...
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No deal on Bangladesh garment factory compensation fund
Families and survivors of the Rana Plaza garment factory disaster in Bangladesh in April who are waiting for compensation from Western companies will have to wait a little longer. A meeting Thursday of...
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Road repairs: LASG demands N50bn refund from FG
Gov. Babatunde Fashola of Lagos Lagos State Governor Babatunde Fashola has urged the Federal Government to refund about N50bn his administration had spent on repairs of the 117 federal roads in the...
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U.S. economic growth gauge highest since 2010, annual rate rises
U.S. President, Barack Obama A measure of future U.S. economic growth hit its highest level in more than three years last week and the annualized growth rate rebounded from a previous 39-week low, a...
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Market Watch: Index drops by 0.35%
Activities on the Nigerian Stock Exchange (NSE) closed for the week on Friday with the market indicators depreciating. The All-share index depreciated by 126.38 points or 0.35 per cent to close at...
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