Challenges facing the Nigerian Electricity Supply Industry (NESI), have led to the wastage of about 42,160.87 mega watts (MW) of electricity out of the 88,566.43MW generated by power generation companies (GenCOs) last year. Although the current administration had vowed to address the barriers limiting power supply to consumers, statistics made available in Abuja by […]
Continue Readingcanvass Nigeria’s restructuring Militants under the aegis of the Niger Delta Avengers on Thursday threatened to halt crude oil flow from the Niger Delta and cripple the economy if President Muhammadu Buhari is re-elected. The group decried what it described as the “continuous criminal exploitation and exploration of our natural resources that engender the underdevelopment […]
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The ongoing investment in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector, the President/Chief Executive, Aliko Dangote has said. Dangote, who made this disclosure at the ongoing Nigeria International Petroleum Summit (NIPS), in Abuja, said the company is committed […]
Continue Reading• Analysts predict gloomy market ahead of 2019 polls Fears that the heightening political uncertainties may trigger a pull back in the equity market to halt the bullish run witnessed in the past few days became a reality yesterday, as investors lost N31 billion. Analysts had predicted that the move by government to suspend the Chief Justice […]
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Kano-based Amarava Rice Mill says it is targeting to record 500 tonnes of daily production by June, just as it hit 250 tonnes to boost local self-sufficiency. Mr Subhash Chand, the Indian Deputy High Commissioner in Nigeria, made this known on Tuesday in Abuja. The multimillion Naira state-of-the-art rice mill, owned by an Indian national, […]
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• Pursues acquisition with N23.160 billion offers • Shareholders demand probe, okay N3.13/share scheme Shareholders of Diamond Bank Plc have demanded an investigation into the financial institution’s “merger” with Access Bank Plc. The deal worth over N23.160 billion cash consideration will see to shareholders of Diamond Bank getting N1 per share. Nevertheless, they applauded the […]
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Mr Henry Ikem-Obih, Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC) says the Federal Government has paid the agreed N236 billion as first tranche of the outstanding subsidy claims to oil marketers. Ikem-Obi, who disclosed this in an interview on Monday in Abuja, said that government, through the Central Bank, had directed banks to freeze interest […]
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2019 Poll May Affect Passage It is likely that the promise by this government to reset the country’s disjointed and dysfunctional budgeting system, may not materialise before the end of President Muhammadu Buhari’s four-year tenure. Rather than put in place the much-talked about January to December life cycle for the national budget, the administration has […]
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urges them to address nation’s infrastructural decay asks Nigerians to tighten their belts President Muhammadu Buhari, on Friday, met with governors of the 36 states of the federation in the Presidential Villa, where he told the state chief executives that the economy of the country was in a bad shape, urging them to redouble efforts […]
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Director, Consumer Protection Department, Central Bank of Nigeria (CBN), Mr Sunday Salam-Alada, has said electronic fraud losses in the banking system are projected to reach N6.1 trillion by 2021. He disclosed this at the ongoing workshop for Business Editors and Finance Correspondents, organised by Nigeria Deposit Insurance Corporation (NDIC) in Benin. According to him, the volume […]
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