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Daily Archives: December 4, 2019

Acquisition of Shell’s equity in OML 11 height of resource control, Wike declares

Acquisition of Shell’s equity in OML 11 height of resource control, Wike declares

Rivers State Governor Nyesom Wike has declared that the acquisition of 45 per cent of Shell’s equity stake in Oil Mining License (OML) 11 represents the height of resource control struggle. He explained that the investment in the oil bloc ...

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Banks’ non-performing loans decline by N1.14tn

Banks’ non-performing loans decline by N1.14tn

Between the third quarter of 2018 and the third quarter of this year, the Non-Performing Loan portfolio of the banking sector dropped from N2.24tn to N1.1tn. This shows a decline of N1.14tn or 50.89 per cent reduction in the banks’ ...

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National carrier: Stakeholders oppose Arik/Aero merger

Arik Air Resumes Flights To Asaba, Increases Owerri Frequency

Stakeholders in the aviation industry have asked the Federal Government to ignore the proposal to merge Arik Air and Aero to form a national carrier. Aviation consultant, Chris Aligbe, said the advice by the Asset Management Corporation of Nigeria to ...

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Nigeria has 47 days petrol sufficiency –PPPRA

Nigeria has 47 days petrol sufficiency –PPPRA

The Petroleum Products Pricing Regulatory Agency has declared that Nigeria currently has about 47 days sufficiency of petrol. The PPPRA stated this on Tuesday, adding that the average petrol inland stock between 23rd and 29th of November 2019 stood at ...

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CBN to tackle N1.3tn food imports

FG records N1.14tr deficit in three months

The Central Bank of Nigeria says it is currently implementing various intervention programmes that will catalyse funding to critical sectors of the economy such as agriculture and manufacturing. The CBN Deputy Governor, Corporate Services, Mr Edward Adamu, said this on ...

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