Monday December 22nd, 2014
Monday December 22nd, 2014
Latest

Vocation and technical education – a key to improving Nigeria’s development. Part 2

  /   in Business 12:33 am   /   Comments

economy

As the Roman Historian, Plutarch (AD 46-120?) had noted “The mind is not a vessel to be filled but a fire to be kindled.” Given their corrupt and greedy lifestyles Nigeria’s leaders do not seem to care about integrity or moral values.

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Court stops NASS from summoning Petroleum Minister 

  /   in Energy 12:19 am   /   Comments

Diezani Alison-Madueke

A Federal High court in Abuja presided over by Justice Ahmed Mohammed on Wednesday set aside the summons by the House of Representatives on the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke to appear before it to answer to allegations that some ten billion naira was spent on a private aircraft charter. Justice Mohammed in

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Latest

Alison-Madueke records another first as she’s appointed president of GECF

  /   in Energy 9:28 pm   /   Comments

Petroleum minister, Mrs Diezani Alison-Madueke

Barely three weeks after her election as the first female President of the Organization of the Petroleum Exporting Countries (OPEC), the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has been appointed as the President of the Ministerial Meeting of the Gas Exporting Countries Forum (GECF), the first woman to be so appointed by the body.

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Unity Bank, Seplat to join NSE 30 Index

  /   in Business   /   Comments

File photo: The  floor of Stock exchange

Unity Bank Plc, Seplat Petroleum and Sterling Bank Plc are among the stocks that have been penciled down by the Nigerian Stock Exchange, NSE, to join its NSE 30 Index as it finalizes end of year review of the Index.
The composition of the review, which is expected to take effect on January 1, 2015, will also see 7-Up Bottling Co. Plc and Mobil Oil Plc included on the Index, while Total Nig. Plc, Glaxosmithkline, Fidelity Bank, Ashaka Cement and FCMB will be removed.

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Shippers Council, NPA, MAN bosses nominated for award

  /   in Business   /   Comments

File photo: The e-waste-laden ship at the Tin-Can Port Lagos.

EXECUTIVE Secretary of the Nigerian Shippers Council, NSC, Hassan Bello, Managing Director of the Nigerian Ports Authority, NPA, Habib Abdullahi; Rector of the Maritime Academy of Nigeria, MAN, Oron, Joshua Okpo, and Managing Director of Starsz Investment Company Limited, Greg Ogbeifun, have been nominated for the Maritime Industry Merit Awards (MIMA).

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Nigeria can generate N1.7trn from LP gas initiative — Minister

  /   in Business   /   Comments

economy

ABUJA: Minister of National Planning, Abubakar Sulaiman, says Nigeria can generate about $10.38 billion (N1.7 trillion), if 50 per cent of the current kerosene users in Nigeria switch over to Liquefied Petroleum Gas, LPG by 2018.
Sulaiman stated this in Abuja, at the inauguration of the Inter- Ministerial Committee on Kerosene to Gas Initiative in Nigeria: The Indonesian Model.

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Mentoring programme can curb unemployment, says LCCI

  /   in Business   /   Comments

Job-search

The Lagos Chamber of Commerce and Industry, LCCI, has said that mentoring programs can help curb the high level of unemployment in Nigeria.

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CBN directs banks to commence issuance of Centenary N100 note

  /   in Business 7:01 pm   /   Comments

Central Bank of Nigeria (CBN) Thursday said that the commemorative centenary notes will be circulated from today across the country.

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FG to privatise railways, inland waterways, 6 others in 2015

  /   in Business   /   Comments

Abuja light rail

The Federal Government has concluded plans to privatise eight new entities in some sectors of the economy by 2015.

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Disbursement of N212bn power fund to commence soon — CBN

  /   in Business   /   Comments

Mr Godwin Emefiele answering questions  during his screening by the Senate for  Central Bank Governorship in Abuja on Wednesday

The Central Bank of Nigeria (CBN) said that it would commence disbursement of the N212 billion Nigeria Electricity Market Stabilisation Facility (NEMSF).

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UBA Capital halts African expansion on Ebola concerns

  /   in Business   /   Comments

NEW YORK, NY - OCTOBER 25: A young man, dressed in a biohazard costume, stands on the corner of 546 West 147th Street on October 25, 2014 in New York City. After returning to New York City from Guinea, where he was working with Doctors Without Borders treating Ebola patients, Dr. Craig Spencer was quarantined after showing symptoms consistent with the virus. Spencer was taken to Bellevue hospital to undergo testing where he was officially diagnosed with the Ebola virus on October 23.   Bryan /AFP

UBA Capital Plc, an investment and asset management arm of United Bank for Africa, will halt its African expansion plan on concern about the spread of the outbreak of Ebola.

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Fraud: AfDB imposes 3-yr ban, $18m fine on Chinese firm

  /   in Business   /   Comments

Africa

Africa Development Bank (AfDB) has imposed a three year debarment on China First Highway Engineering Co. Ltd. following its admission of fraudulent and collusive practices in an AfDB-financed project. The bank also levied a financial penalty of $18.86 million on the company to support anti-corruption projects on the continent.

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FG explains challenges in 2014 budgets

  /   in Business 8:13 pm   /   Comments

budget2014

The Minister of Finance, Dr Ngozi Okonjo-Iweala, on Wednesday named oil pipeline vandalism as one of the challenges in the achievements of revenue projections for 2014 budget.

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Latest

Bet9ja to sustain rewarding passion

  /   in Business   /   Comments

CENTRAL Bank of Nigeria,  	CBN, has suspended the March 31 deadline for acceptance of old N50, N10 and N5 paper notes as legal tenders.

Buoyed by its success in the last two years where it has emerged as the top sports betting company in Nigeria, the management of Bet9ja has vowed to sustain the tempo with a promise to always reward its agents and pay bonus promptly.

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The Runway has taken my business to the next level — CD Bajola

  /   in Business   /   Comments

women-in-business-pix

Adebambo Emuleomo is the Creative Director and organiser of Lekki Fashion week, as well as the Creative Director, Bajola fabrics and leathers.

She holds a BSC in Psychology and a masters degree in Information Systems, University of Portsmouth, United Kingdom- a trained IT specialist.

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FG directs Discos to patronise local meter manufacturers

  /   in Business   /   Comments

electricity

The Federal Government has directed all Electricity Distribution Companies, Discos, in the country to patronise local manufacturers in line with the policies put in place by government, designed to strengthen local content development and accelerate growth of the industrial sector.

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FG steps up industrial accidents preventions

  /   in Business   /   Comments

economy

Worried by increasing cases of industrial accidents at workplaces in the country, the Federal Government has stepped up efforts at preventing and minimizing industrial accidents, towards ensuring safety of workers.

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OPEC urges increased investment despite low crude oil price

  /   in Energy 10:18 am   /   Comments

File photo

The secretary general of the Organization of Petroleum Exporting Countries urged Gulf states to continue investing in oilfield development Sunday, despite sharp falls in crude oil prices.

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NCDMB charges oil servicing companies on employee motivation

  /   in Energy   /   Comments

File Photo: Crude Oil

The Nigerian Content Development and Monitoring Board (NCDMB) has charged indigenous service companies to explore creative strategies of motivating their staff so as to retain the skills and capacities they have developed within their companies.

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Oil sector contracting, licensing processes fraught with corruption — Report

  /   in Energy   /   Comments

economy

The process for the award of contracts and licenses for oil and gas prospecting in Nigeria is tainted by corruption and collusion, according to a report, the 2014 Nigeria Natural Resource Charter (NNRC) Benchmarking Report.

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Nigerian banks fund N438bn of oil assets acquisition

  /   in Energy   /   Comments

dead-bank

Nigeria banks advanced over $2.5 billion, about N437.5 billion, to Indigenous companies for the acquisition of the divested assets of Shell Petroleum Development Company, SPDC, and other oil companies in Nigeria.

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Coca-Cola, partners Friends Africa to Celebrate World Aids Day in Nigeria

  /   in Business   /   Comments

L-R : Customer & Commercial Leader, Coca-Cola Nigeria Limited , Dr. Udo Agommonso, Director, Public Affairs and Communications, Coca-Cola Nigeria, Clement Ugorji , Ex-Super Eagle star, Jay Jay Okocha and Communications Manager, Coca-Cola,Samuel Umukoro at the 2014 World AIDS Day Community Health Outreach by Friends Africa in Partnership with Coca-Cola held in Lagos at the weekend.

In commemoration of World AIDS Day 2014, Coca-Cola Nigeria Limited in partnership with Friends Africa (Friends of the Global Fund Africa), a pan-African NGO, organised a week long HIV/AIDS outreach in Lagos, enabling about 4,000 persons to take the HIV test.

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Oil: Nigeria, other W/African countries record declining rig count

  /   in Energy   /   Comments

A refinery

The falling oil price has taken its toll on the rig count in Nigeria and its West African oil producing neighbours as the region recorded an eight percent decline in rig utilisation in the month of November.

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Ikeja Disco upgrades system, unveils new payment platforms

  /   in Energy   /   Comments

electricity

Ikeja Electricity Distribution Company Plc (Ikeja Disco) has upgraded its systems to enhance secure, convenient and more efficient payment options.

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Entertainment industry can’t list except…

  /   in Investors Forum   /   Comments

DVDs for sale are pictured in a store on September 24, 2013 in Accra. The new film by Ghanaian-Nigerian director Pascal Amanfo "Boko Haram" has been banned by censors in Ghana and shunned by cinema owners in Nigeria. AFP PHOTO

Following a fallout from the CMC’s conference that the entertainment industry should seek listing on the Nigerian Stock Exchange, NSE, shareholders are of the view that they cannot list except incorporated by CAC as a company with a product

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Technology plays key role in food production, health, others — Industry leaders

  /   in Business   /   Comments

God's market...

Industry leaders from Africa and across the globe have identified technology as a major factor that would enhance food production, health facilities, water production and other things that would improve the standard of living of the people.

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Latest

Midwestern marks seven million man-hour HSE milestone

  /   in Energy   /   Comments

refinery-7

Midwestern Oil and Gas Company Limited in furtherance of its philosophy in health, safety and environmental (HSE) management and personnel motivation has celebrated the company’s seven million man-hours lost time injury free operation (LTI) in Lagos.

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Latest

FG crashes fish prices to affordable levels

  /   in Business   /   Comments

Millions of fish consumers are heaving a sigh of relief as fresh import quotas for fish issued by the Ministry of Agriculture (MOA) has brought down prices across the country.

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Unemployment: 349,343 new jobs created in Q3 — CBN

  /   in Business   /   Comments

NIGERIA, Abuja : Job-seekers cover their nose and mouth for safety after security agents from the immigration services threw a cannister of tear gas to disperse the crowd in Abuja National Stadium, on March 15, 2014. At least seven people were killed and dozens injured in Nigeria's capital Abuja on March 15 after thousands of pannicked job-seekers stampeded during a government recruitment drive at the national stadium. AFP PHOTO

The Central Bank of Nigeria, CBN, said 349,343 jobs were created in the economy in the third quarter of 2014. This is contained in the Communique issued by the Central Bank of Nigeria, CBN, after its Monetary Policy Committee Meeting, MPC, held in Abuja.

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How to invest in treasury bills

  /   in Investors Forum   /   Comments

The Central Bank of Nigeria head office  in Abuja.

It is one of the safest investment products. Yet many people know little about it. The banks are not also helping matters. They rarely inform or educate their customers about it. And why should they, when it is more expedient for them for the customer to invest his money with them via fixed deposit than investing the money in Treasury bill.

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SEFA invests N102m in bio-refinery project in Nigeria

  /   in Energy   /   Comments

The Sustainable Energy Fund for Africa (SEFA) has approved a $580,000, about N101.5 million preparation grants for the expansion of Green Energy & Biofuels (GEB) Bio-refinery project in Nigeria.

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Kenya cuts maximum retail prices of fuel

  /   in Energy   /   Comments

Kenya’s Energy Regulatory Commission cut the maximum retail prices of petroleum products on Sunday saying the cost of importing refined products had fallen. Since 2010, every month the east African nation has set a cap on prices of petrol, diesel and kerosene, to protect consumers from unfairly high prices.

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