Business

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Lagos Targets 24 Hour Power Supply

The Lagos State Governor, Akinwunmi Ambode, says 24-hour power supply will boost business and increase the state’s Gross Domestic Product and that his government is ready to achieve the target, ThePunchNg report. The governor also urged individuals, private homes and corporate organisations to take up any street of their choice and light them up with […]

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PZ Cussons Blames Nigeria Operating Environment Woes

Consumer goods company, PZ Cussons Plc, with a major presence in Nigeria have blamed the Nigerian operating environment for its slowing performance according to reuters. Group operating profits were broadly flat versus comparative period. The company’s fortunes has witnessed strong performance in Europe offsetting a difficult trading environment in Nigeria and impact of weaker currencies […]

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Original Copy of Okonjo-Iweala’s Letter Demanding Transfer of Abacha’s Loot to Dasuki

The letter from the Former finance minister, Ngozi Okonjo-Iweala, demanding transfer of Late Sani Abacha’s loot to former NSA, Sambo Dasuki

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2016 Budget: MURIC Hails President Buhari Over N500bn Social Welfare Package Proposal

The Muslim Rights Concern (MURIC) has lauded President Muhammadu Buhari for proposing a N500 billion social welfare package targeting students, youth corps members and the vulnerable in society in the 2016 budget estimates. The president on Tuesday submitted a three-year fiscal policy agenda, the Medium Term Expenditure Framework (MTEF) to the Senate in which he […]

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FG Seeks Legal Backing For Auto Policy

There are indications that the Federal Government is working on a plan to give legal backing to the nation’s auto policy as a way of guaranteeing the huge investments being made in the automobile industry. The Director-General, National Automotive Design and Development Council, Mr. Aminu Jalal, gave the hint in a telephone interview with our […]

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Banks Record N11.98bn Fraud In Six Months – CBN

The banking sector recorded 5,917 cases of fraud involving the sum of N11.98bn in the first half of this year, statistics obtained from the Central Bank of Nigeria have indicated. The figures are contained in the CBN’s Financial Stability Report, a copy of which was obtained by our correspondent in Abuja. The report stated that […]

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Subsidy: FG Okays N407bn Payment To Marketers

The Federal Government on Wednesday finally approved the payment of N407.07bn as fuel subsidy to oil marketers. The payment was confirmed by the Minister of Finance, Mrs. Kemi Adeosun, through a statement signed by the Director of Press, Ministry of Finance, Mr. Marshal Gundu, ThePunchNg report. The payment, according to the statement, includes arrears from […]

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Consumers Oppose Electricity Tariff Increase

Electricity consumers on Wednesday kicked against the government’s plans to increase tariffs and demanded that the Minister of Power, Works and Housing, Mr. Babtunde Fashola, should listen to their own side of the story before approving any increase in the rates. Speaking under the aegis of the Consumer Advocacy Forum inaugurated by the Nigerian Electricity […]

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LASG: Planning Laws Remain Sacrosanct

Lagos State said it would enforcement Physical Planning and Urban Development laws to stem the tide of unwholesome practices in the building industry. The Commissioner for Physical Planning, Urban Development, Mr. Wasiu Anifowoshe, made this known at the stakeholders’ meeting organised by the state’s Physical Planning Permit Agency (LASPPPA), under the theme, ‘keying into the […]

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Equities Slump To 37 Months Low Amidst Crude Oil Decline

Nigerian equities slumped below its three-year low yesterday as global decline in crude oil price exacerbated concerns over Nigeria’s fiscal and macroeconomic outlook. After a loss of 1.08 per cent or N104 billion on Tuesday, quoted equities dropped by 1.92 per cent or N 181 billion on Wednesday as investors reacted sharply to similar decline […]

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Fed Govt ‘Saved N628b From Procurement Audit’

Director-General, Bureau of Public Service Reforms (BPSR), Dr. Joe Abba yesterday said through periodic audits of the various procurement processes of the Federal Government’s Ministries, Departments and Agencies (MDAs), the Bureau of Public Procurement (BPP) had in the last seven years, saved the government N628 billion that would have been spent uneconomically by its MDAs. […]

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Why We Funded PAU Project – FCMB Chief

The Group Managing Director/Chief Executive of First City Monument Bank (FCMB) Limited, Ladi Balogun, has said the bank’s decision to donate a multi-purpose Students’ Centre to Pan-Atlantic University (PAU), was part of its strategies to invest in the future of the youth. He added that the gesture was also in line with the commitment of […]

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