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FG begins implementation of sugar master plan

The Federal Government has begun the implementation of the Backward Integration Policy in the sugar industry with the official signing of plans and projects by three major sugar refineries in the...

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Oil thieves spill 500 barrels in Adibawa – Shell

The Shell Petroleum Development Company of Nigeria has raised the alarm over the rising oil theft-related spills at the Adibawa field. The Nigerian subsidiary of Royal Dutch Shell said on Tuesday in a...

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Emerging stocks set for biggest loss

Emerging-market stocks were set for the biggest slump in two weeks and currencies sank on concern the global economy will falter as growth in Chinese services industries slowed and oil topped $100 a...

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Rainoil boosts petrol distribution with vessel investment

An indigenous petroleum product marketer,  Rainoil Limited, has given petroleum distribution to the south-south, south-east, the Federal Capital Territory and northern states  a fillip with investment...

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FG promises 18-hour daily power supply by 2014

The Federal Government has assured Nigerians that they will start enjoying power supply for 18 hours as from 2014. The Minister of State for Power,  Alhaja Ibrahim Kuchi, stated this while speaking...

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Expert flays oil sector’s $680bn loss to corruption

The Chief Executive Officer, BOk Development Limited, Mr. Adekunle Disu, has condemned the loss of $680bn annually to corruption in the oil and gas sector due to sharp practices. Disu, who described...

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Indices close lower as 28 stocks lose

The equities section of the Nigerian Stock Exchange closed on a negative note on Wednesday, as major market indicators closed lower. The NSE All-Share Index depreciated by 0.26 per cent to close at...

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GE, USADF announce $2m for Power Africa Challenge

GE Africa and the United States African Development Foundation will team up for the Power Africa Challenge, an off-grid energy initiative aimed at boosting power supply to previously under-served...

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ExxonMobil, IPEA partner on environmental awareness

The Ibom Programme on Environmental Awareness, an initiative of the Akwa Ibom State Ministry of Environment & Mineral Resources in partnership with ExxonMobil, has held a training workshop for...

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Theft, vandalism lowered Q1 oil industry GDP —NBS

Expectedly, crude oil and natural gas contributions to the country’s Gross Domestic Products dropped in the first quarter of the year compared to the contribution in the first quarter of 2012 due to...

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Group raises the alarm over Shell’s pipeline

THE National Coalition on Gas Flaring and Oil Spills in the Niger Delta has called for the urgent review of the Trans Niger Pipeline, belonging to Shell Petroleum Development Company in Ogoniland.  The...

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NEITI lauds judgment ordering Mobil to pay $83.4m tax

The Nigeria Extractive Industries Transparency Initiative on Sunday praised the recent judgment by the Tax Appeal Tribunal ordering Mobil to pay $83.4m as tax to the Federal Inland Revenue Service. The...

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Oduah seeks $500m for national carrier, meets Sanusi …FG may partner Irish...

In a desperate move to establish a national carrier for the country this year, the Minister of Aviation, Ms. Stella Oduah, and other officials from the aviation sector met with the Governor of the...

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RMAFC woos states, LGs for new revenue formula

The Revenue Mobilisation, Allocation and Fiscal Commission will on Thursday (today) begin a two-week grass-roots programme aimed at mobilising the opinion of state and local governments across the...

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Reps write CBN on fake ATM currency notes …seek review of envelope budgeting...

The House of Representatives said on Wednesday that it had written to the Central Bank of Nigeria to explain the source of fake currency naira notes being dispensed by Automated Teller Machines of some...

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Business confidence in Nigeria has improved —LCCI

The level of confidence in running a business in Nigeria improved going into the third quarter of the year, the Lagos Chamber of Commerce and Industry has said. The LCCI, in a report made available  to...

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NEPZA targets $15bn investment in five years

The Nigeria Export Processing Zones Authority on Wednesday said it had attracted about $9.4bn (N1.5tn) worth of investment to the country through the operation of free trade zones and was targeting...

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BoI seals pact with ministry on fish parks

The Bank of Industry has signed a Memorandum of Understanding with the Ministry of Niger Delta Affairs for the establishment of Fish Industrial Parks in the Niger Delta region. The agreement was signed...

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External reserves drop to $47bn

The nation’s external reserves have dropped to $47bn, after being stagnant at $48bn for over three months. Data obtained from the Central Bank of Nigeria’s website on Wednesday showed that the reserves...

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Access Bank to focus on retail business

Access Bank Plc has announced that it plans to shifts its focus to retail banking in the next few months. According to the bank, retail banking activities will account for about 50 per cent of its...

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