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India replaces US as largest importer of Nigeria’s crude
The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that India had displaced Nigeria’s longest and largest crude oil importer, the United States of America (USA) from its status as...
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Nigeria ranks top investment destination in Africa — Report
A United States-based economic advisory firm, Frontiers Strategy Group, said investment interest in Nigeria by international organisations and multinationals had continued to grow despite rising...
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Plateau to join league of oil producing states – Commissioner
By Godfrey Sunwar, Jos Plateau State government is now looking into the possibility of prospecting for oil and gas in addition to several other solid minerals found in commercial quantity in the state....
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BA to Acquire 72 Aircraft to Boost Flight Operations in Nigeria, Others
British Airways (BA), yesterday said it would soon I acquire 72 new aircraft, to boost its flight operations in Africa, particularly in Nigeria. BA Country Commercial Manager for West Africa, Kola...
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NEXIM Bank disburses N92.5bn to exporters, generates 60,000 jobs
The Nigerian Export Import Bank (NEXIM) said it has disbursed over N92.5 billion and issued guarantees worth $300 million in support of exporters; thereby creating about 60,000 direct jobs, since its...
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FG extends implementation date of new auto policy to January, 2015
THE Federal Government has granted an extension for the commencement of the effective date of implementation of the new auto policy to January 1, 2015 as against July 1, 2014, following weeks of...
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Nigeria loses 7,000mw of electricity to inadequate gas supply
The Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, has disclosed that some power plants in the country are ready to generate an additional 7,000megawatts of power...
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Kogi govt will continue to encourage investors – Gov Wada
By Abdullahi Ibrahim The Kogi State Government said it will continue to encourage partnership arrangement with reputable investors as a sign of its determination to harness the abundant human and...
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Shell pays $70bn to FG in five years
The Managing Director of Shell Petroleum Development Company (SPDC) and Country Chairman of Shell companies in Nigeria, Mr. Mutiu Sunmonu, has disclosed that the group contributed $70billion to the...
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Nigeria expresses intent to meet EU’s long term gas supply security
The federal government yesterday stated its determination to meet the long-term gas supply security of the European countries. It said the move was part of measures of the expand the country’s gas...
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N30.09trn remitted to Federation Account between 2007- 2011– NEITI
The Nigeria Extractive Industry Transparency Initiative (NEITI) On Wednesday said N30.09 trillion was remitted into the Federation Account between 2007 and 2011 from mineral and non-mineral revenues....
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Stakeholders want new CBN policy on dividend warrants
Stakeholders in the capital market under the aegis of the Capital Market Committee (CMC) yesterday called on the Central Bank of Nigeria (CBN) to bring out a new policy allowing banks to accept the...
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DSTV May Slash Subscription Rates By 30%
With the emergence of Continental Satellite Limited (CONSAT), an indigenous pay-TV company, MultiChoice, owners of the Digital Satellite Television (DSTV) is set to explore new marketing options to...
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Jonathan approves new fiscal policy on rice
As part of federal government’s effort to encourage local production and investment in rice value chain through backward integration and the quest to discourage smuggling of rice, President Goodluck...
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Non-oil export hit $2.97bn in 2013 — NEPC
The value of non-oil products that moved out from Nigeria in 2013 rose to $2.97 billion from $2.561 billion in 2012, Nigeria Export Promotion Council (NEPC) revealed. Speaking during the NEPC workshop...
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Cashless policy goes nationwide today
The cashless policy, an initiative of the Central Bank of Nigeria (CBN) and the Bankers’ Committee aimed at reducing the amount of cash in the system will be extended to 30 more states in the country...
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Bank Credit: CBN bars loan defaulters of over N500m
The Central Bank of Nigeria (CBN) yesterday warned that no deposit money bank (DMB) should without its prior approval grant facilities to potential borrowers that are in default of any existing...
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New auto policy won’t increase cost of vehicles — FG
THE Federal Government yesterday said contrary to reports, the new vehicle import tariff which commenced on July 1, did not impose a flat tariff of 70 per cent duty on all imported used cars, saying...
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Fuel marketers groan under unpaid subsidy claims
Barely three months after the Federal Ministry of Finance paid N41, 074,772,210.95 to 27 Oil Marketing (OM &T) companies whose subsidy claims had successfully gone through the verification...
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Israel to partner Kogi on solid minerals development
Israeli Ambassador to Nigeria, Mr Uriel Palti The Israeli Ambassador to Nigeria, Mr Uriel Palti, has indicated Israel’s willingness to collaborate with Kogi State government in order to harness the...
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