Oil marketers on Saturday said it was possible to sell Premium Motor Spirit at N85 per litre. They however expressed doubt if Nigerians were ready to absorb the fluctuations or modulations in the pump price of petrol beginning from next year. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, had on Friday stated […]
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The Dr. Sam Amadi-led management of the Nigerian Electricity Regulatory Commission (NERC) is alleged to have breached a subsisting court order which compelled the former to discountenance electricity tariff in the interim pending the adjudication of the case before the Federal High Court in Lagos. Toluwani Adebiyi, a lawyer particularly faulted the new electricity tariff […]
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Dangote Industries Limited (DIL) has explained why it bought back its former subsidiary, Tiger Branded Consumer Goods (TBCG). It said its action is to prevent the company from dying and also save the job of over 3,000 Nigerians. DIL was approached by Tiger Brands to acquire its 65.7 per cent shares of TBCG Limited. While […]
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Nigeria may be in for harder times than previously envisaged as the International Monetary Fund has predicted that crude oil prices may slump to as low as $20 per barrel in 2016. In the ‘IMF Executive Board Concludes 2015 Article IV Consultation with Iran’ report, the body highlighted that the price of crude oil could […]
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Hacey Health Initiative and Access Bank Plc on Wednesday called for the inclusion of persons with disabilities in the drive for national development. Accordng to The Punch, The Project Director, Hacey Health Initiative, Mr. Isaiah Owolabi, said economic activities would boom if physically-challenged persons were involved in the national development process. Owolabi spoke in Lagos […]
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The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has urged the Federal Government to abolish the fuel subsidy regime from its expenses because it had become a burden on the nation’s economy. This is contained in a statement by its Head, Public Relations, Mr. Ibrahim Mohammed on Wednesday in Abuja. He said the subsidy had […]
Read More The Department of Petroleum Resources (DPR) says it has set up a 24-hour special task force to supervise and monitor petrol sales at depots and stations. It said that the task force would sanction depots and stations selling above the recommended price. Assistant Director, Public Affairs in DPR, Mrs. Dorothy Bassey, disclosed this in a […]
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The Minister of Communications, Adebayo Shittu, on Wednesday said that the December 31, 2015 deadline given to MTN Nigeria to pay the N780bn fine imposed on it by the Nigerian Communications Commission was no longer feasible. He said that the ministry would await the determination of the court in the case between the NCC and […]
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Petroleum products marketing firm, Forte Oil Plc, has increased its net income by seven per cent to N4.2bn compared to N4bn recoded in the same period the previous year. The company’s other Income post increased by 216 per cent to 2.6bn compared to N0.84bn in the third quarter of 2014, largely due to gains on […]
Read More Market capitalisation at the Nigerian Stock Exchange appreciated by N66bn to close at N9.255tn from N9.189tn after the close of trading on Tuesday. A total of 20 stocks emerged gainers while 16 depreciated in value. A total of 397.257 shares worth N2.644bn exchanged hands in 2,683 deals. The NSE All Share Index closed at 26,918.22 […]
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The Senate on Tuesday amended the 2015 Supplementary Appropriation Act to enable the Executive arm of government to implement the N557bn capital expenditure component in the budget till March next year. The amendment was perfected at plenary shortly after President Muhammadu Buhari presented the 2016 budget estimates to the joint session of the National Assembly. […]
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President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers. The Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive. She said salaries were […]
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