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Business and Economy

Osun Gets ZERO Naira as Monthly Allocations for April 2016

It's only fair to share...…As FG deducts 32billion naira from Plateau, Cross River, Ekiti, Bayelsa The federal government of Nigeria has deducted a total sum of N32 billion from allocations of states from the federation account in the month of April 2016 for different loans they incurred.   In a report by the Economic Confidential, the economic intelligence magazine, it ...

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10 ‘big boys’ hold Nigeria economy to ransom, owe AMCON N1 trillion

It's only fair to share...Litigations stall efforts to recover debts. Efforts by the Federal Government at shoring up economic activities through debt recovery from individuals and organisations are not adding up. High-profile debtors are using the courts to mount blocks in the way of government. The Guardian learnt that at least 10 of such individuals, referred to as the “big ...

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WATCH OUT! Petrol mixed with ethanol to be circulated soon – NNPC

It's only fair to share...– A blend of Premium Motor Spirit (PMS) also known as petrol mixed with ethanol will soon be in circulation  – This hint was given by the Nigerian National Petroleum Corporation (NNPC) – The idea is geared towards production of bio-fuels for energy sufficiency The group managing director of the NNPC, Dr Maikaniti Baru, yesterday, August ...

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Stakeholders meet towards ITU Telecom World 2016

It's only fair to share...In preparation for this edition of International Telecommunication Union (ITU) yearly event, ITU Telecom World 2016, the Local Organisation Committee (LOC) for Nigeria has put in place plans to host a Stakeholders forum. The forum which is slated for Monday, September 5, 2016 at the                           Sheraton Hotel and Towers, Ikeja, is expected to enlighten and throw ...

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Petrol must sell for N151.87 per litre – Marketers

It's only fair to share...Price of petrol may increase to N151.87 per litre as petrol marketers reveal that price of the commodity at ex-depot is N133.28 per litre. The marketers also revealed that price of the product will increase due to the continued scarcity of the United States dollar. An oil marketer who spoke with Punch newspaper said; “Since the ...

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Hajj Dollars: Emefiele denies dollar subsidy to hajj pilgrims

It's only fair to share...Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, on Tuesday, August 9, 2016 said there has been an agreement with the Pilgrim’s Commission to sell the Hajj dollar at N197 long before the latest adjustments in the FOREX market.   Mr. Emefiele added that the pilgrims had made advanced payments for the exercise. It ...

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NCC, NITDA set up joint committee to energize Nigeria’s ICT Development

It's only fair to share...Nigeria’s ICT sector has received another boost with the Nigerian Communications Commission, NCC, and the National Information Technology Development Agency, NITDA, agreeing a joint committee to design a framework for collaboration to optimize development efforts for the telecommunications and ICT in the country.  This was a major outcome of the interactions between the Executive Vice Chairman ...

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Oil Prices will Rise in September, Says OPEC President

It's only fair to share...The president of the Organization of Petroleum Exporting Countries (OPEC), Mohammad Al-Sada, reveals oil prices will rise in September through December, following expectations of higher oil demand. Al-Sada held that since February 2016, oil prices had experienced a steady improvement following a decline in crude oil production, supply outages and a decrease in oil inventories, while ...

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NNPC Remits N56.96bn to Federation Account in June

It's only fair to share...The Nigerian National Petroleum Corporation (NNPC) has revealed that it paid the N55.96 billion into the Federation Account in the month of June. This was contained in the corporation’s monthly financial report for the month of June released in Abuja yesterday. The report read in part: “NNPC transferred the sum of N55.96 billion into the Federation ...

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MTN Posts First-Ever Loss following NCC Fine

It's only fair to share...South Africa’s MTN Group has reportedly recorded its first-ever per-share loss as a public company, after Africa’s biggest mobile-phone operator agreed to settle a record fine in Nigeria and was hurt by weaker earnings in South Africa.   According to Bloomberg, the loss will be between 2.85 rand and 3.15 rand per share in the six ...

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