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FG to generate $5.7bln from 10 power plants, says BPE boss
The Federal Government will generate more than five billion dollars from the sale of 10 National Integrated Power Plants (NIPP), an official said. Mr Benjamin Dikki, the Director-General, Bureau of...
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External Reserves shrink to two-year low as FG’s revenue declines
Nigeria’s external reserves which have maintained a downward trend since last year fell to a two-year low of $39.725 billion last the week. The current position of the reserves represents a significant...
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Oyo, Chinese investors conclude arrangement on manufacturing of buses, cars,...
The Oyo State Government on Wednesday made a major move towards industrializing the state as it finalized arrangements with three different groups of Chinese investors on the establishment of bus, car...
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FG receives $5.7billion 80%financial bids for 10 power plants
The Federal Government has received financial bids of 80 per cent of 10 National Integrated Power Plants which provided the government with $5.7billion. The Director-General, Bureau of Public...
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We’re ready to pamper you, Ajimobi tells British investors
The Oyo State governor, Senator Abiola Ajimobi, has asked investors in the United Kingdom to exploit the peaceful nature of the state, its renewed infrastructure and readiness to pamper investors as...
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FG approves waiver for Pinnacle oil at Lekki free zone
The Federal Government has approved waiver to an indigenous oil and gas company, Pinnacle Oil and Gas Limited, for an initial $250 million (N41.1billion) Single Point Mooring (SPM) facility at the...
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New capital requirement: ‘will not succumb to blackmail’ – SEC
The Securities and Exchange Commission (SEC) on Tuesday said it would not succumb to stockbrokers’ blackmail on the new capital requirements for capital market operators. An authoritative source in...
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How global shipping industry can get better — D-8
The D-8 Secretary-General, Dr Seyed Mousavi, on Tuesday restated the need for concerted efforts to address several challenges facing the global shipping industry. Mousavi, said in Abuja at the opening...
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Tax break, other incentives enhance economic growth – NIPC
The Nigeria Investment and Promotion Council (NIPC) on Tuesday said that the grant of tax-break to some industries had positive impact on the growth of the country’s economy. Mr Joel Attah, Head, Media...
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Gowon, Govs, Nebo, others woo investors in London
Britons and other European investors looking forward to investing in Africa have been urged to look in the direction of Nigeria. This was the message from the Nigerian leaders who gathered at the...
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Fuel Scarcity: IPMAN wants finance ministry to step up payment
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Wednesday urged the Federal Ministry of Finance to stop delaying payment to marketers of petroleum products. The association...
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Dangote sugar expresses commitment to support FG’s integration policy
Mr Graham Clark, the Group Managing Director, Dangote Sugar, on Wednesday said that the company would support the Federal Government’s integration policy to enhance local generation of raw materials....
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Kaduna experiences long queues as fuel scarcity continues
Motorists in Kaduna, Kaduna State, on Wednesday formed long queues at filling stations following continued scarcity of petrol. A cross-section of the motorists told the News Agency of Nigeria (NAN)...
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Policy inconsistency, obstacle to effective housing delivery in Nigeria
Mr Makinde Ogunleye, a former Chairman, Lagos Branch of Nigerian Institute of Town Planners (NITP), on Wednesday said that policy inconsistency was the bane of development in the housing sector....
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Ghost workers: Finance ministry moves to ICPC for prosecution
LAYING OF 2014 BUDGET PROPOSAL IN ABUJA The Federal Ministry of Finance said it would refer issues concerning ghost workers to the Independent Corrupt Practices and other Related matters Commission...
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NEITI denies alleged loss of $8 billion annually through crude oil swap
The Nigerian Extractive Industry Transparency International (NEITI) on Wednesday denied a report credited to it over the nation’s alleged loss of eight billion dollars annually through crude oil swap....
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NUPENG asks FG to focus on passage of PIB not sale of refineries
The Nigeria Union of Petroleum and Natural Gas workers (NUPENG), Wednesday asked the federal government to concentrate its efforts on getting the Petroleum Industry Bill (PIB), which is currently...
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Shell loses N160bn to crude theft in Nigeria
Royal Dutch Shell,yesterday, said it lost about $1 billion (N160 billion) to crude oil theft and various disruptions in its oil and Liquefied Natural Gas, LNG, operations in Nigeria in its 2013...
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Jonathan backs Amosun’s economic plan
President Goodluck Jonathan has said the Federal Government will support Ogun State Governor Ibikunle Amosun in its “Rebuilding Mission.” Speaking at the inauguration of Procter and Gamble’s...
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Aganga: New auto policy did not ban Tokunbo cars
Minister of Trade and Investment, Olusegun Aganga has re-affirmed that there was no plan to ban used (tokunbo) vehicles imported into the country “as was being speculated by certain misinformed...
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