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Nigerian railway moves 1million litres of fuel daily
The Federal Government has said over one million litres of fuel is being transported daily through the rejuvenated railway system in the country. The government also said that over 30,000 rail...
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Investment in telecoms now $25bn – Jonathan
Investment in the Nigerian telecommunications in the past 12 years is now worth $25bn, President Goodluck Jonathan has said. Jonathan said this at the Nigerian Investment Forum organised at the Royal...
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Osun Government signs MoU with International Breweries
Gov. Rauf Aregbesola of Osun on Thursday signed a Memorandum of Understanding (MOU) with the management of International Breweries in Ilesa aimed at expanding the company’s activities. Aregbesola,...
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“Nigerian Businessman Tony Elumelu makes $123million in 3 Weeks” – Forbes Report
According to Forbes Africa, former United Bank for Africa (UBA) Managing director, and chairman of Heirs Holdings, Tony Elumelu made $123million in just three weeks. Read below… From Forbes It’s just...
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Aero Contractors to be named national carrier, changes name to ‘Nigerian Eagle’
The long wait for a Nigerian national carrier might soon be over as reports have it that prominent airline Aero Contractors is set to fill the slot. The airline is said to be making plans to change its...
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IJonathan lauds investors increased interest in Nigeria
FROM LEFT: VICE PRESIDENT NAMADI SAMBO; COUNCIL CO-ORDINATOR, BARONESS LYNDACHALKER AND PRESIDENT GOODLUCK JONATHAN ARRIVING FOR THE 12TH MEETING OF THEHONORARY INTERNATIONAL INVESTORS COUNCIL (HIIC)...
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Charter flight operators suspend services indefinitely over $3,000 fee
Over 20 charter flight operators in the country have suspended their services indefinitely. The suspension was as a result of the $3,000 fee imposed by the Nigerian Airspace Management Agency on...
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FG urged to source $1bn loan to revive Ajaokuta Steel Complex
Sen. Nurudeen Abatemi-Usman (PDP- Kogi), has suggested that the Federal Government should source for one billion dollars loan to revamp the Ajaokuta Steel Complex. Abatemi-Usman, member, Senate...
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Customs intercepts unregistered drugs in Sokoto
The Nigeria Customs Service, Sokoto Area Command, on Saturday in Sokoto says it has intercepted two truckloads of unregistered drugs worth several millions of naira. The Sokoto Area Comptroller, Mr...
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DPR seals 30 filling stations in Sokoto, Kebbi States in 11 months
The Department of Petroleum Resources (DPR) sealed 30 filling stations in Sokoto and Kebbi States between January and November because of various offences. The DPR’s Zonal Operations Controller in...
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Refineries: BPE confirms privatisation in 2014
The Bureau of Public Enterprises (BPE) on Sunday said that the bureau would privatise the four refineries in the country next year. Mr Chigbo Anichebe, the Bureau’s Head, Public Communications, told...
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TCN blames nationwide power rationing on pipeline vandalism
The Transmission Company of Nigeria (TCN) has blamed the recent nationwide power rationing on vandalism of the gas pipeline, supplying gas to the Okpai Power Plant in Delta. This is contained in a...
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Swiss ready to assist Nigeria in alleged $6bn oil deal fraud
Petroleum Minister, Alison Madueke Switzerland is ready to assist Nigeria in the ongoing investigations into the alleged more than 6.8 billion dollars (N1.1 trillion) fraudulent oil deals involving...
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Court orders finance minister to disband tax appeal tribunal
A Federal High Court in Abuja has restrained Tax Appeal Tribunals established by the Federal Inland Revenue Service (FIRS) from adjudicating on tax matters and federal revenue. Justice Adeniyi...
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Oil workers vow to resist sale of refineries
Oil workers, under the auspices of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the National Union of Petroleum and Natural Gas Workers (NUPENG) have vowed to...
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Ecobank in row over anonymous email, hacking allegations
(Reuters) – Pan-African lender Ecobank has sued a top executive who left the company this month, naming him in a civil complaint in Togo as the author of an anonymous email accusing Chief Executive...
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Lawmakers kick against designation of Aero as National Carrier
Some federal lawmakers have reportedly rejected moves by the Federal Government to designate Aero Contractors airline as the country’s national flag carrier, saying the idea was not only wrong but...
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Power generation drops by 450MW
Electricity generation has dropped by 450 megawatts, the Transmission Company of Nigeria has said. The firm said the drop on Saturday was due to vandalism of pipelines supplying gas to the Okpai Power...
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NSE ASI dips by 0.63% on Tuesday
Transactions on the floor of the Nigerian Stock Exchange, NSE, ended on a bearish note on Tuesday as the All Share Index, ASI, closed lower at 38,975.16 basis points shedding 246.86 points or 0.63...
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CBN to revert to paper bank notes before June 2014
The Central Bank of Nigeria (CBN) has announced that the country will revert to paper banknotes before June 2014. The move has been described as a policy switch that bucks the growing trend around the...
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