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Fed Govt gives power distribution contractors 60 days to complete projects
Contractors handling power distribution projects across the country have only three months from now to deliver or be blacklisted by the Federal Government. Vice President Namadi Sambo warned...
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CBN: Banks’ total liquid assets drop to N6,614.8bn
As the 2013 full financial results of the nation’s deposit money banks continued to trickle in last week, the Central Bank of Nigeria has disclosed that the total specified liquid assets of Nigerian...
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Nigeria becomes Africa’s largest economy
Nigeria has overtaken South Africa as Africa’s largest economy after a rebasing calculation almost doubled its gross domestic product to more than $500bn, data from the statistics office showed. GDP...
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Why Kogi economy is on track – Gov Wada
By Abdullahi Ibrahim Governor Idris Wada of Kogi State has given an insight into the secret behind the rapid economic growth of the state. Wada, during an interactive session with journalists, ascribed...
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Nigeria plans to reweight inflation
Nigeria plans to reweight its inflation index to 2009 from 2004 by the end of the year to reflect the impact of non-food items on prices more accurately, the National Bureau of Statistics (NBS) told...
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Customs impounds N235.6m worth of rice, vehicles
The Federal Operations Unit (FOU) Zone C of the Nigeria Customs Service (NCS) has impounded smuggled rice with Duty Paid Value (DV) of N235.634 million, 31 assorted types of vehicles valued at...
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Unilorin Water gets NAFDAC licence
The NAFDAC has given approval to the University of Ilorin Water Enterprises for the production table and sachet water. With the allocation of product registration numbers for the two water brands, the...
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Kogi to commence second tranche of N20bn bond in June
By Abdullahi Ibrahim Kogi State Governor, Capt Idris Wada, has disclosed that the state is to commence second tranche of N20bn bond in June Wada made this known during a visit to the Nigerian Stock...
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Sachet water producers reject NAFDAC’s test fee
Sachet water producers in Ibadan have called on the Federal Government to prevail on the National Agency for Food and Drug Administration and Control (NAFDAC) to refrain from collecting a N25,000...
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Ojota residents protest epileptic power supply
Some residents of Ojota, near Lagos on Tuesday staged a peaceful protest over what they described as the epileptic power supply in the area. The News Agency of Nigeria (NAN) reports that the protesters...
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GDP Rebasing: Raise per capita income, World Bank tells FG
PRESIDENT GOODLUCK JONATHAN (R) WITH THE CORDINATING MINISTER OF ECONOMY/MINISTER OF FINANCE, DR NGOZI OKONJO-IWEALA DURING A MEETING OF THE ECONOMIC MANAGEMENT TEAM ON ABUJA The World Bank has urged...
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Nnaji, stakeholders decry poor state of power infrastructure
A former Minister of Power, Professor Barth Nnaji and some of the new owners of the distribution companies, Tuesday, declared that Nigeria’s power generating facilities are obsolete and unreliable....
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Cost of constructing Bauchi airport rises to N13bn
GOV. ISA YUGUDA OF BAUCHI STATE, INSPECTING BAUCHI STATE INTERNATIONAL AIRPORT PROJECTS DURING HIS VISIT TO THE SITE AT DURUM IN BAUCHI The cost of constructing Bauchi International Airport has been...
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Drilling firms vs Nigerian Ports Authority: Parties get trial date
The Federal High Court, Lagos, on Wednesday fixed June 25 for trial in a suit by three oil firms against the Nigerian Ports Authority (NPA) over an alleged imposition of drilling charges. The...
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Only 32.5 per cent of Nigerians have bank accounts, says Unity Bank official
FROM LEFT: EXECUTIVE DIRECTOR, LAGOS AND WEST, UNITY BANK PLC, MR LANRE FAGBOHUN;WINNER OF THE BANK AIM AND WIN PROMO, ALHAJI BABA LAFIAJI; ABULE EGBA BRANCH MANAGER, MRYINKA ODE, AND REGIONAL MANAGER,...
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Reps approve $1bn loan facility for NNPC
The House of Representatives, on Tuesday approved the 1.56 billion dollars loan facility proposed by the Nigerian National Petroleum Corporation (NNPC). The resolution followed the adoption of the...
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Court fixes May 5 for continuation of trial in $48m suit against Dangote
A Federal High Court in Lagos on Wednesday fixed May 5 for the continuation of trial in a suit filed by Oba Otudeko against Alhaji Aliko Dangote, over a land dispute. Otudeko, Chairman of the Honeywell...
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Senate passes N4.69trn 2014 budget
THE COORDINATING MINISTER OF ECONOMY AND MINISTER OF FINANCE, DR NGOZI OKONJO-IWEALALAYING THE 2014 BUDGET PROPOSAL TO THE SENATE IN ABUJA The Senate on Wednesday passed the 2014 Appropriation Bill of...
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Capital market indices dip by 0.41 per cent on NSE
Equity transactions on the Nigerian Stock Exchange (NSE) on Wednesday ended on positive note for the second consecutive day. The News Agency of Nigeria (NAN) reports that the All-Share Index...
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NELCOM grappling with N850 bn debt — MD
INAUGURATION OF NATIONAL INTEGRATED POWER PROJECT IN IBADAN The National Electricity Liabilities Managing Company (NELMCO), on Wednesday said it was grappling with N850 billion debt it inherited from...
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