Wednesday November 26th, 2014
Wednesday November 26th, 2014
Latest

FG to link all state capitals by rail service,says Jonathan

  /   in Business 5:26 pm   /   Comments

President Goodluck Jonathan Being Welcomed By Nigerians During His Arrival For The Honourary International Investor Council (Hiic) Meeting On Thursday Night

President Goodluck Jonathan on Friday expressed Federal Government’s commitment to linking all the state capital cities to the rail service in order to boost the country’s economy through rail transportation.

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Nigeria attracts N800bn private sector investments into agric sector

  /   in Business   /   Comments

Akinwumi Adesina

The Federal Government has said that it attracted $5.6 billion (about N896 billion) private sector investments into the agricultural sector from 2012 to current year.

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Pirates, oil thieves threatening our lives — NIMASA boss

  /   in Business   /   Comments

* Lekki model sea port

DIRECTOR General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Patrick Akpobolokemi, has said that the lives of officals of the agency are being threatened by pirates and oil thieves who have escaped prosecution.

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CMC seeks increased local investors’ participation in stock market

  /   in Business   /   Comments

Nigerian-Stock-Exchange-(NS

Capital Market Committee, CMC, has called on domestic investors to participate more in the Nigerian capital market and not allow the foreign investors dominate the market.

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Biotech will improve our agricultural productivity— panelists

  /   in Business   /   Comments

Agric-date-palm

The Nigeria Chapter Coordinator, Open Forum on Agriculture Biotechnology in Africa (OFAB), Mrs. Rose Gidado, has said that Nigerian farmers and the country stand to gain from the adoption of biotechnology in the country.

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Latest

Shell completes N96bn sale of OML 24 to Newcross

  /   in Business   /   Comments

refinery-7

Shell Petroleum Development Company of Nigeria Limited (SPDC), yesterday, said it has completed the sale of its 30 per cent stake in Oil Mining Lease (OML) 24 and other related facilities to Newcross Exploration and Production Limited for $600 million, about N96 billion.

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Latest

FG launches commercial 10% composite cassava flour

  /   in Business   /   Comments

Cassava farm

In actualisation of the Federal Government’s cassava transformation agenda and the cassava inclusion policy in bread flour, the minister of Agriculture, Dr. Adesina Akinwumi, launched the first commercial 10 per cent composite cassava flour products in the country during the week.

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Latest

Automotive Policy: Stakeholders in haulage and logistics seek consideration of interests

  /   in Business   /   Comments

Sea-port

STAKEHOLDERS in the haulage and logistics sub-sector have called on the Federal Government to factor in their operational interest as activities of automotive policy take shape.

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Latest

How Nigerians can benefit from online Black Friday sales

  /   in Business   /   Comments

Black Friday is the most celebrated shopping day in history. Everything and everyone is up for a bargain, it is simply a day when you see the craziest discounts on various products from mobile, electronics, home appliances and fashion to beauty products. For many it has become a day when people save to do all their shopping for the year.

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Latest

Seme Customs collects N973m in October

  /   in Business   /   Comments

Minister during  the visit

The Seme Area Command of the Nigeria Customs Service has collected a total of N973,540,612.78 in the month of October 2014 which is the highest monthly revenue collected this year, even as it has stepped up anti-smuggling measures as Christmas celebrations approaches.

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Latest

Access to credit and Nigeria’s economic development

  /   in Business, Viewpoint   /   Comments

economy

THERE is broad agreement that Nigeria with over 160 million people, an entrepreneurial spirit, natural resources, and an economic policy framework that looks increasingly market – driven has a promising future. In the last few years as Nigeria has come into the global development picture with GDP growth averaging 6-7.5 per cent a year, it has become fashionable to look at the unlocking of Africa’s biggest economy. Only in April, a rebasing of the country’s economy captured economic sectors like entertainment and fashion and pushed the country’s GDP to the fore on the continent.

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ICT sector has created 12m jobs in two years — NITDA DG

  /   in Business 12:05 am   /   Comments

Peter-Jack-pic

The Director General of the National Information Technology Development Agency, NITDA, Peter Jack, has disclosed that that the nation’s Information and Communication Technology, ICT, sector has boosted the federal government’s effort in job creation with the creation of about 12 million jobs from 2012 to date.

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Stop placing unrealistic targets on marketers, CBN tells banks

  /   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 has warned commercial banks operating in the country against placing unrealistic deposit targets on their marketers.

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Latest

BoI reduces unemployment by 793,428

  /   in Business   /   Comments

Job seekers on the pitch of Abuja National Stadium appling for work with immigration departement

The Bank of Industry says its empowerment funds have so far taken a total of 793, 428 Nigerians off the street as they have been gainfully employed across four key sectors of the economy in the last three years.

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LCCI lauds NAFDAC achievements

  /   in Business 12:36 am   /   Comments

NAFDAC DG, Paul Orhi.

The Lagos State Chamber of Commerce and Industry, LCCI, at the opening ceremony of the Lagos State International Trade Fair lauded the National Agency for Food Administration and Control, NAFDAC, for its giant strides in the promotion of standards amongst manufactures of foods and drugs in Nigeria.

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NSE signs MOU with London Stock Exchange

  /   in Business   /   Comments

File photo: The  floor of Stock exchange

In the wake of volatile global market, Nigeria continues to attract significant foreign investors interest, the recent being from United Kingdom who sent delegates to Nigeria.

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Ghana indicts Nigeria for breach of gas supply contract

  /   in Business   /   Comments

gas

Ghana, yesterday, accused Nigeria of breaching the agreement between both countries to supply gas to Ghana, a situation that has worsened the country’s power supply.

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What the next governor of Lagos State should do for us (6)

  /   in Business   /   Comments

*Fashola

We return to the heading we used for the first two parts of this series so as to remind us of what we want to achieve with the series.

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Flour Mills eyes growth with Unicem’s divestment proceeds

  /   in Business   /   Comments

Flour Mills of Nigeria Plc (FMN) has disclosed that proceeds from its ongoing divestment from United Cement Company of Nigeria Limited, Unicem, will be utilized towards funding the rapid growth in its core food and agro-allied businesses.

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Latest

Why foreign investors are leaving Nigeria Stock Exchange

  /   in Investors Forum 5:36 pm   /   Comments

Oscar-Onyema-2

The Nigeria Stock Exchange (NSE) recently experience sharp decline in market capitalization due to foreign investors exit from the market in apprehension of the impact of the decline in price of crude oil on the naira exchange rate.

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Latest

Investment One introduces online -real time trading platform

  /   in Investors Forum   /   Comments

Investment One Financial Services Limited, through its subsidiary Investment One Stockbrokers International Limited, has introduced EasyTrade, an online real time trading platform, that enables its users buy and sell stocks on the Nigeria Stock Exchange with real-time processing functionality.

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Latest

Nigeria loses gas investments to other African countries — Report

  /   in Energy   /   Comments

gas

Nigeria remains Africa’s largest gas consumer and producer, but the focus for new gas projects is shifting to the east coast and to the huge offshore discoveries in Mozambique and Tanzania, the World Energy Outlook Special report 2014 just released has stated.

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Latest

Top 10 performing stocks

  /   in Investors Forum   /   Comments

File photo: The  floor of Stock exchange

On the top 10 performing stocks last week were the shares of Ikeja Hotels Plc, Cadbury Nig. Plc, Transnational Corporation of Nigeria (Transcorp Plc), Oando Plc, Unilever Nig. Plc and PZ Cusson Plc.

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Latest

Extractive industry: NMGS eyes increased contribution to economic devt 

  /   in Energy   /   Comments

File Photo

The Nigerian Mining and Geosciences Society (NMGS) has promised to ensure that the entire gamut of the Nigerian extractive industry gets a boost for an increased contribution to the growth of the national economy

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Latest

FG, American investors sign MoU on 1,200MW solar power project

  /   in Energy   /   Comments

*A major power grid

A consortium of American Investors in renewable energy, under the auspices of MOTIR SEASPIRE has signed a Memorandum of Understanding, MoU, with the federal government to deliver 1,200MW of solar-powered electricity in Nigeria within the next two years.

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Latest

FG seeks reversal of UK trade strategy on Nigeria

  /   in Business   /   Comments

naira-Dollar

The Federal Government of Nigeria has called on the government of United Kingdom and its companies operating in Nigeria, to embrace the new business strategy designed to discourage focus on export of raw materials from Nigeria and encourage export of processed goods for economic transformation.

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Latest

Electricity: MAN cries out over high tariff, fixed charges

  /   in Energy   /   Comments

electricity

The Manufacturers’ Association of Nigeria, MAN, has cried out to the Federal Government to review the multi-year tariff order, MYTO II, released in June 2014, containing the discriminatory fixed and average charges, saying the charges are suffocating the sector.

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Latest

Power firms to pay N225m for connection to TCN network

  /   in Energy   /   Comments

Electricity-new

The Transmission Company of Nigeria, TCN has fixed a charge of about N225 million for power firms seeking to modify their connection to its transmission network across the country and also for firms seeking to connect to the network for the first time.

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Latest

FG to pay oil marketers outstanding arrears

  /   in Energy   /   Comments

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has pledged to intervene and ensure that outstanding arrears of fuel subvention owed to petroleum marketers are paid before the end of this month.

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APM Terminal milks economy of over N60b in 10 months —Agents

  /   in Business   /   Comments

A fully loaded truck in one of the inland dry ports in the sub-region, will be delayed, harassed for bribes by the numerous security agents along the region’s transport corridor before it gets to its destination.

The various freight forwarding groups comprising Association of Nigeria Licensed Customs Agents, ANLCA, National Association of Government Approved Freight Forwarders, NAGAFF and National Council of Managing Directors of Licensed Customs Agents, NCMDLCA, operating at the Apapa, have accused largest container terminal operator in the country, APM Terminals of unapproved levy collecting over N60 billion from importers in the last 10 months.

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Latest

Oil: Nigeria facing stiff competition from East African countries

  /   in Energy   /   Comments

refinery-7

Apparently referring to the non passage of the petroleum industry bill, PIB, the Managing Director of Total Upstream Company in Nigeria, Elizabeth Proust, said that Nigeria is fast losing oil exploration investments to East African countries.

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Latest

UPDC REIT unit holders to get N1.4bn interim dividend

  /   in Investors Forum   /   Comments

The Fund Managers of UPDC Real Estate Investment Trust (UPDC REIT), FSDH Asset Management Limited, has announced the payment of N1.4 billion interim dividend to the unit holders for the period ended June 30, 2014.

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