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National carrier to begin operations with 50 aircraft
The federal government and its private investor partners may have concluded that the new national carrier, known as Nigeria One, would start operation with 50 aircraft that would be delivered before...
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IHG opens the first Intercontinental Hotel in Nigeria
InterContinental Hotels Group (IHG) has joined numerous global businesses to open shop in Nigeria as the next business hub. The 352 room InterContinental Lagos is the company’s first InterContinental...
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“No going back on 50% hike on electricity tariff”
Despite the epileptic power supply in most parts of the country and the rejection of a hike in electricity tariff by the Nigeria Labour Congress (NLC), the Nigeria Electricity Regulatory Commission...
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N47 bn Fraud: Akingbola loses bid to stop trial
The Lagos State High Court sitting in Ikeja has thrown out an application filed by former Managing Director of Intercontinental Bank Plc, Erastus Akingbola, asking the court to quash the N47.1 billion...
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World Bank faults FG’s management of oil reserves
The World Bank has faulted the Federal Government’s management of oil revenues, and also warned that the country faces serious challenges in sustaining the momentum of its fiscal consolidation and...
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Okonjo Iweala denies that Nigeria’s Economy is at the brink
The Finance Minster and Coordinating Minister of the Economy Ngozi Okonjo Iweala today denied that the economy will collapse and that it will not be possible to pay salaries if the seeming face off...
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Contractor disappears after pocketing N500m mobilization
A contractor handling several road projects in Adamawa State has disappeared into thin air after collecting 500 million naira as mobilization from the government.Consequently, a two week ultimatum has...
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Shell shuts down 624MW Afam VI Power Plant
The Shell Petroleum Development Company (SPDC) Joint Venture Tuesday shut down the Afam VI Power Plant and a nearby Okoloma Gas Plant, which supplies gas to the 624 Megawatt capacity power plant, both...
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Inflation drops to 8.4% amid higher food prices
Nigeria’s Consumer Price Index (CPI), which measures the level of inflation in the country dropped to 8.4 percent in June, compared to the 9 per cent it attained in May, figures from the National...
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Oyo Govt floats medium term strategic plan
The Oyo State Governor, Senator Abiola Ajimobi, has granted approval for the process of preparation of the successor medium term strategic plan expected to span 2014–2016. He made the disclosure while...
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Rainfall plunges Jigawa LG into darkness
Malam-Madori Local Government Area of Jigawa State has been plunged into darkness following heavy rainfall that destroyed electric poles across the town and destroyed several houses as well. Our...
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Shell shuts Afam Power Plant
Power supply in Nigeria is expected to worsen as Shell Petroleum Development Company (SPDC) Joint Venture announced the shutdown of the 624 megawatts Afam VI Power Plant power plant on Tuesday. Shell...
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Ernst and Young ranks Nigeria’s banks in frontier category
CBN Governor Global business rating organization, Ernst and Young has ranked Nigerian banks in the frontier category of the latest barometer of regional banking in emerging markets. The ranking...
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Reps summon Adoke over clearance claim on Malabu Oil deal
The House of Representatives yesterday ordered the Attorney General of the Federation (AGF) and Minister of Justice, Mohammed Bello Adoke to appear before its Committee on Justice for allegedly...
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Photo news: Gov. Fashola inspects Yaba Industrial Estate
From Left: Chairman, Yaba Local Council Development Area, Mr Jide Jimoh; Special Adviser to Lagos Governor on Commerce And Industry, Mr Seye Oladejo, Lagos Commissioner for Commerce, Mrs Olusola Oworu...
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Photo news: Customs Area Comptroller visits AIG in Lagos
Left: Deputy Commissioner of Police, Isyaku Barau; Customs Area Comptroller Zone ‘A’, Alhaji Isa Nuhu; AIG, Mamman Isafe and Deputy Comptroller in Charge of Enforcement, Mr Idowu Ogun, during a...
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Forbes – Ten Young African Millionaires to watch in 2013
Mfonobong Nsehe of Forbes recently compiled a list of 10 young African millionaires to watch in 2013. Check out the list below of young African millionaires leading the way in the field of business....
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Sanusi: CBN may revisit Naira redesign policy
The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, Wednesday said the central bank may go back to its earlier plan to redesign the naira in order to forestall massive...
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NCC okays registration of deactivated SIMs
Following persistent appeal from the Association of Licensed Telecoms Operators of Nigeria (ALTON) and the National Association of Telecoms Subscribers (NATCOMS) for the extension of SIM registration,...
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FG targets $100bn from software outsourcing annually
The Chairman, Board of Trustees (BoT), of the newly inaugurated Nigerian Association of Information Technology Enabled Outsourcing Companies (NAITEOC), Mr. Chris Uwaje, Thursday in Abuja, said the...
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