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Ajimobi inaugurates N3.8b abattoir for Ibadanland
Governor Abiola Ajimobi of Oyo State on Thursday inaugurated the N3.8 billion ultra-modern abattoir at Amosun Village in Akinyele local Government area of the state, with a pledge that his...
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Blackberry records marginal profit, amid projected dwindling 2014 third...
BlackBerry Q5 Global mobile phone manufacturer, BlackBerry Ltd, on Friday reported a small adjustment in its third-quarter profit and returned to positive cash flow position. The adjustment, which led...
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Nigeria sees brighter chances of foreign exchange earnings from gas
Nigeria’s chances of earning foreign exchange from gas had brightened with the efforts the Gas Exporting Countries Forum (GECF) is making to stabilise the global market, a top official has said. The...
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Capital market indices up by 3.39 per cent on NSE
Equity transactions on the Nigerian Stock Exchange (NSE) on Friday ended on positive note for the second consecutive day. The News Agency of Nigeria (NAN) reports that the All-Share Index appreciated...
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Suspended Strike: How oil workers, govt reached a truce
Minister of Labour and Productivity, Alhaji Kabiru Tanimu Turaki To get the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of...
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CBN moves against speculators to save naira
Central Bank of Nigeria (CBN) THE Central Bank of Nigeria (CBN), on Friday, announced new measures to curb currency speculation as part of an effort to defend the naira which has been hit hard by the...
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Okonjo-Iweala faults civil servants’ claim on outstanding salaries
The Coordinating Minister of the Nigerian Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has carpeted the Association of Senior Civil Servants of Nigeria as peddlers of falsehood for...
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Eko Disco procures 40 new transformers worth N200m
The Eko Electricity Distribution Company (EKEDC) says it has acquired 40 new distribution transformers as part of efforts to boost the company’s operations during the yuletide. Principal Manager,...
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CBN directs banks to strengthen capital buffers to mitigate oil shocks
Central Bank of Nigeria (CBN) Head Office, Abuja Owing to banks’ exposure to the oil and gas sector in the face of tumbling oil prices as well as the risk management deficiencies revealed by a recent...
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Gulf OPEC members refuse to cut oil output
Arab Gulf countries have vowed they will not cut oil production or hold an emergency meeting, despite a glut in global supplies and plummeting oil prices. Powerful OPEC members Saudi Arabia and Kuwait...
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CBN, banks sign MoU on power sector intervention fund
The Central Bank of Nigeria (CBN) and the Deposit Money Banks (DMBs) have signed two Memoranda of Understanding on implementation of the N213 billion Power Sector Intervention Fund. Mr Godwin...
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Nigeria’s Transitional Electricity Market kicks off Jan 1
Prof. Chinedu Nebo, Minister of Power The long anticipated Transitional Electricity Market (TEM), which is expected to usher in a contractual trading regime in Nigeria’s Electricity Supply Industry...
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World Bank to support Nigeria’s power sector with $1.7bn
The Bureau of Public Enterprises (BPE) on Monday said that the World Bank would support the Nigerian Power Sector with 1.75 dollars (about N294 billion ) over the next four years. This is contained in...
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Diversion of petroleum products: DPR seals 3 petrol filling stations in Kaduna
PETROL TANKERS WAITING TO LOAD AT ABONNEMA WHARF IN PORT HARCOURT The Department of Petroleum Resources (DPR) on Tuesday said it had sealed three petrol filling stations for product diversion in...
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Ajimobi presents N141.8b budget, says no new taxes will be imposed
Governor Abiola Ajimobi Governor Abiola Ajimobi of Oyo State has presented a N141,777,770 budget proposal for the 2015 fiscal year before the state House of Assembly, pledging that no new taxes will be...
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2015: Gov Jang presents N215.4b budget
Gov Jonah David Jang By Godfrey Sunwar The Governor of Plateau State, Jonah David Jang, has said that the 2015 budget of the state has dropped by 4.26% from the previous year. Jang stated this Tuesday...
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Again, crude oil price drops by $2 as US large stock shocks investors
Crude oil prices yesterday dropped by $2 per barrel in New York trade after a data by the United States Energy Information Administration (EIA) showed that the country has built up a surprisingly large...
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$20bn Oil Money: APC accuses FG of suppressing probe report
Ngozi Okonjo-Iweala The All Progressives Congress (APC) has alleged that the PDP-led Federal Government is trying to suppress the audit report on the $20 billion oil money. The party said the deadline...
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Increase stakes in equity market at bearish time,Stockbroker advises investors
Mr Charles Fakrogha, the Chief Executive Officer, Foresight Securities & Investment Ltd, on Sunday urged investors to take advantage of the prevailing low prices of stocks to increase their stakes...
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Nine ships arrive with petrol at Lagos ports
The Nigerian Ports Authority (NPA) on Monday said nine ships laden with petrol had arrived Lagos ports, waiting to discharge. The NPA stated this in its daily publication, ‘Shipping Position’, made...
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