Sunday January 25th, 2015
Sunday January 25th, 2015
Latest

Power: FG woos Chinese firms to transmission

  /   in Energy 12:22 am   /   Comments

Electricity-new

The Minister of Power, Prof. Chinedu Nebo, has tasked the Chinese companies to fill in the gap created by the weak transmission system to boost Nigeria’s capacity to wheel generated power to end users.

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Why presidential aspirants are silent on energy issues

  /   in Energy   /   Comments

*Jonathan and Buhari

Opinions are varied as to why the two president aspirants have failed to clearly highlight their plans for the energy sector in their campaigns thus far. But stakeholders in the sector have warned the contestants against any plan to increase government’s control of the sector.

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Oil prices: Nigeria, W’Africa record stable rig count

  /   in Energy   /   Comments

economy

Despite the global six months fall in oil prices, Nigeria and other West African oil producing countries recorded a stable rig count in December.

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Shareholders differ on Oteh

  /   in Investors Forum   /   Comments

File photo: The  floor of Stock exchange

The Securities and Exchange Commission (SEC) recently announced that its Director-General, Ms Arunma Oteh, has stepped down.

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Nigeria, others to lose $25bn over Ebola —World Bank

  /   in Business   /   Comments

naira-Dollar

The World Bank has predicted that Nigeria and other countries in the West African region could lose $25 billion in economic growth this year due to the Ebola crisis.

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Wilko Corporation to take over Avon Crowncaps …

  /   in Investors Forum   /   Comments

Avon Crowncaps and Containers (Nigeria) Plc has announced the intension of its majority shareholder, Wilko Corporation, to take up the remaining minority equities in the company.

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NNPC to collaborate with new Shell MD to reposition sector

  /   in Energy   /   Comments

The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Dr. Joseph Dawha, has expressed the readiness of the Corporation to work in harmony with the newly appointed Managing Director, Shell Petroleum Development Company of Nigeria, SPDC, Mr. Osagie Okunbor.

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Latest

FG to provide one million meters to consumers

  /   in Energy 9:37 pm   /   Comments

Prepaid meters

The Minister of Power, Prof. Chinedu Nebo, has revealed that the Federal Government has concluded arrangement to facilitate the provision over one million meters to the electricity consumers in its determination to address the issue of estimated billing by the electricity distribution companies, Discos.

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Latest

Rents crash by 50% as businesses, individuals relocate

  /   in Business, Finance   /   Comments

market-2

The persistent traffic gridlock along the Apapa – Oshodi Expressway has forced mass relocation of businesses and individuals out of Apapa, causing property rents to crash by 50 percent.

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TECNO’s plant in Nigeria‘ll be ready this year —Okonkwo

  /   in Business   /   Comments

The Tecno Q! smartphones

We are building both manufacturing and assembling plant. By the time we complete the first phase we should be able to start manufacturing and assembling TECNO phones in Nigeria.—Okonkwo

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Disciplined underwriting key in overcapitalised global reinsurance sector – A.M. Best

  /   in Insurance and You   /   Comments

insurance-pix

Current conditions in the global reinsurance sector, which remains overcapitalised, demand that disciplined underwriting, be the focus of reinsurers, suggests a new report by A.M. Best.

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Nigeria Railway takes delivery of five 68-seater coaches

  /   in Business   /   Comments

A moving train on the 68 percent completed railway track of the Abuja - Kaduna fast train project launched by Vice President Namadi Sambo in Abuja on Thursday

The Nigeria Railway Corporation, NRC has taken delivery of five additional 68-seater air conditioned coaches, two 16-seater rail buses and eighteen 5-seater Motorised Trolleys.

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Indians handing death and slavery to Nigerians

  /   in Business, Special Report 2:19 pm   /   Comments

economy

Mr. Bharadia, after several complaints and directives to him to stop work, was said to have got top officials at the Army Barrack in Ikorodu, Nigerian soldiers and mobile Policemen and stationed them at the construction site, while he personally supervised the erection of the high tension wire. Staff of Isocare West Africa who attempted to take pictures of the erection of the high tension wire over Isocare were reportedly brutalized by mobile policemen.

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Latest

14 European firms to storm Nigeria for investment

  /   in Business   /   Comments

naira-Dollar

The Nigerian economy is to enjoy more foreign investments with the arrival of 14 European companies in the second quarter of the year. The companies, drawn from across Western Europe, have concluded plans to invest in real estate, construction, refinery projects, mining, agriculture among others and seek local partners in Africa.

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Latest

NSE lists Transcorp Hotel shares, as 52.3% IPO shares subscribed

  /   in Business 12:19 am   /   Comments

Nigerian Stock Exchange

The Nigerian Stock Exchange, NSE, yesterday listed the entire issued shares of 7.6 billion of Transcorp Hotel Plc at N10 per share, even as investors subscribed 52.3 per cent of the company’s Initial Public Offering, IPO.

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Investor Protection Fund: Board to approve N400,000 per claim

  /   in Business   /   Comments

File photo: The  floor of Stock exchange

The Nigerian Stock Exchange (NSE) has disclosed that the Board of Trustee for the Investor Protection Fund, IPF would meet to approve the recommended maximum N400,000 per claim for investors who had applied for compensation .

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Group petitions Presidency over plans to sack 10,000 dockworkers

  /   in Business   /   Comments

Waiting for employment?

A group of dock workers, under the Delta state branch of the Maritime Workers Union of Nigeria, MWUN has sent a petition to President Goodluck Jonathan over alleged plans by the Nigeria Ports Authority, NPA to sack more than 10,000 Nigerian dockworkers.

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Insurers accuse LASG of frustrating insurance monitoring

  /   in Business   /   Comments

The Nigerian Insurers Association, NIA, has accused the Lagos State Government of frustrating its efforts to distribute the Nigerian Insurance Industry Database, NIID, device to law enforcement agents in the state.

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Niger govt, IFAD collaborate to develop cassava, rice value chain

  /   in Business   /   Comments

THE Niger Government on Thursday said it was collaborating with the International Fund for Agriculture Development (IFAD) to develop cassava and rice value chain in the state.

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$1trn market capitalisation target unattainable—NSE boss

  /   in Business 12:46 am   /   Comments

File photo: The  floor of Stock exchange

The Nigerian Stock Exchange, NSE yesterday said that its target of reaching $1 trillion capitalisation by 2016 is no longer attainable. Chief Executive Officer, NSE, Mr. Oscar Onyema , disclosed this while briefing news men in Lagos on “2014 market recap and outlook for 2015”.

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Oil steadies, stays under pressure on World Bank growth cut

  /   in Business   /   Comments

File photo

Oil prices recouped some early losses, yesterday, but remained under pressure after the World Bank cut its global economic growth forecast, doing little to end a rout that saw prices touch their lowest in nearly six years in the previous session.

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Latest

Is your organisation taking the easy route to success?

  /   in Business   /   Comments

Staircase

The prevailing truth is that when organizations set easy tasks for themselves or take the part of least resistance, or decides to do what is convenient for them, they are not doing themselves any favour but instead they are…

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Starting a business with your spouse

  /   in Business   /   Comments

Buinsess-&-You-pix

Money is the number one cause of divorce, and cash flow tends to be the number one challenge for new businesses. When we first started out, we waited months to get our business cash flow in order and get paid – but we didn’t stress, because we had saved a personal emergency fund ahead of time.

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Diversion of cargo to neighbouring countries’ll continue — Agbakoba

  /   in Business   /   Comments

Agbakoba

FORMER President of the Nigerian Bar Association and Senior Advocate of Nigeria, SAN, Olisa Agbakoba, has said that Nigerian bound cargo will continue to go to neighbouring countries before finding their way back into the country unless the federal government takes concrete steps to strengthen the nation’s policy, institutions, regulations and illegal framework.

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Small business: Tips to succeed as a beginner

  /   in Business   /   Comments

The logical way to gain financial freedom is to start a small business in Nigeria. It has been observed that most Nigerians that are wealthy started with a small business which they gradually nurture to a big corporation.

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Latest

FG’s threats over metering bounce off DISCOs

  /   in Energy 5:55 pm   /   Comments

Electricity-new

It is yet unclear how it will do it, but the Federal Government has again threatened to sanction forthwith any defaulting company, as it expressed dissatisfaction over the level of meter deployment by electricity distribution companies, DISCOs.

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Latest

Farm mechanisation policy to create 800,000 direct jobs — Adesina

  /   in Business   /   Comments

Akinwumi Adesina

THE Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, said implementation of farm mechanisation policy under the Agricultural Equipment Hiring Enterprise, AEHE, will create 800,000 jobs.

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How govt policy enhanced seed business – Zangir

  /   in Business   /   Comments

George Zangir

The solution to funding came in 2011 when the Nigerian Government decided it was time to pay more attention to agriculture with the introduction of the Agriculture Transformation agenda.

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Eradicate water front attacks, logistics firm tells FG

  /   in Business   /   Comments

Sea-port

“There is improvement on the issue of attacks of vessels. Last year , we had a few cases, the military and the Nigerian Navy have collaborated with the NIMASA and they have done a lot particularly in Lagos waters.

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5 companies account for 51% transactions on NSE in 2014

  /   in Business   /   Comments

Nigerian-Stock-Exchange-(NS

As the management of the Nigerian Stock Exchange (NSE) presents the score card of the stock market for 2014 today, data obtained from the exchange had shown that five top stocbroking firms accounted for 51 percent equity transactions valued N1.362 trillion during the period.

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We’ll sustain Weighted Average Cost of Funds — Unity Bank boss

  /   in Business   /   Comments

Naira note

Managing Director of Unity Bank Plc, Mr. Henry Semenitari has explained that the bank would remain profitable as long as it is able to maintain reasonable Weighted Average Cost of Funds (WACF).

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Auto industry can create over 200,000 jobs – NAC

  /   in Business 3:28 pm   /   Comments

The Director-General of the National Automotive Council (NAC), Mr Aminu Jalal, said on Tuesday that the nation’s automobile industry had the potential to generate over 200,000 jobs.

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