The Nigeria Union of Petroleum and Natural Gas Workers has warned the management of the Nigerian National Petroleum Corporation against the plan to sack about 1,100 employees of the corporation. The oil workers’ union, in a statement on Friday, said it would resist the impending job losses, which according to it, is contrary to the […]
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The Nigerian Copyright Commission has filed criminal charges against MTN Nigeria and its Chief Executive Officer, Ferdi Moolman, for copyright infringement. According to a report by ThePunchNg, the charge was filed in the Federal High Court, Abuja The charge, with number ABJ/CR/379/2015, was filed at the Federal High Court, Abuja, on Friday. In the two-count-charge, […]
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The Central Bank of Nigeria has tasked farmers in the country with striving towards adding value to their farm produce in order to prevent waste and to earn more on them. The Assistant Director, Development and Finance Department of CBN, Mr. Babatunde Okulaja, gave this advice in Osogbo on Thursday at a training session organised […]
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The Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu yesterday said the Federal Government will not scrap the Petroleum Support Fund (also known as subsidy) but will, instead, embark on price modulation. He denied saying the price of petrol will go up in January. Addressing a press conference in Abuja, he said the Nigerian […]
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Sterling Bank Plc will raise N35bn ($177m) in Tier II capital between January and February to expand its loan book next year, its Chief Executive Officer, Mr. Yemi Adeola, has said. He said the mid-tier lender saw no need to raise fresh equity capital, adding that the commercial lender had N90bn in shareholders’ fund with […]
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The Nigerian stock market yesterday experienced a break-even rally led by the Forte Oil Plc as the petroleum company announced that it had been awarded contract to lift crude oil by the Federal Government of Nigeria. Forte Oil’s share price rose by N12.10 to close at N254.10, representing an increase of 5.0 per cent. In […]
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… As NNPC recounts removal of subsidy The Nigeria Extractive Industries Transparency Initiative (NEITI) has given a nod to the proposed oil subsidy removal, stating that government would save N700 billion yearly from it. According to statement from the Acting Director of Communications, Obiageli Onuorah, the Acting Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, […]
Read More Power supply to households and businesses across the country plunged by 724.98 megawatts in 24 hours to 3,107.31MW on Wednesday, down from 3,832.29MW on Tuesday. The electricity generated on Wednesday dropped to 3,175.92MW from 3,914.74MW the previous day, according to data obtained from the Presidential Task Force on Power and the Federal Ministry of Power […]
Read More The lingering alleged illegal importation of rice into the country may become a thing of the past, following a partnership between the Federal Government and a Chinese Company, HellogJiang Pingyuan Rice Group 300 million dollars proposed rice project. The Chief Executive Officer of the Group, Mr. Wang Jing Xin, disclosed the proposed project during a […]
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Mobile phone operator, MTN Nigeria has resolved to challenge the $3.9 billion fine imposed on it by the Nigerian Communications Commission (NCC), TechCentral is reporting. MTN, in a statement to shareholders today, said it decided to take this route after exhausting all other options to have the fine reduced. MTN said that “All factors having […]
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Agrrived Ijaw and Itsekiri ethnic groups in Delta State have vowed to shut down all Shell Petroleum Development Company, SPDC, operations in their land, if the Anglo-Dutch oil company fails to comply with the agreement reached with them some time ago. Addressing newsmen, yesterday in Warri, the people, under the aegis of their Forum also […]
Read More The Nigeria naira is said to have downsize to 269 against the United States dollar at the parallel market on Wednesday as the Central Bank of Nigeria commenced rationing the greenback to Bureaux De Change operators in its weekly foreign exchange sale. The dollar was sold for 260 at the parallel market on Tuesday. The […]
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