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We’ll Increase Remittances To FAAC, NNPC Tells Govs

We’ll Increase Remittances To FAAC, NNPC Tells Govs

The Nigerian National Petroleum Corporation (NNPC) has told state governors that it would increase its remittances to the Federation Account Allocation Committee, a development that would lead to an increase in the monthly allocations to states. NNPC’s Group Managing, Mele ...

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Ecobank Denies Sacking Employees

Ecobank Denies Sacking Employees

Ecobank Nigeria has said it did not disengage its members of staff, contrary to reports that some of its employees were sacked. The bank said in a statement on Wednesday that it decided not to renew the contract of its ...

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Nigeria Needs $24bn To Lift People Out Of Poverty — Oxfam

Oxfam has said it will cost about $24bn to lift all Nigerians living below the extreme poverty line of $1.90 out of poverty for one year. The international organization revealed in a new report that 69 per cent of Nigerians ...

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Power Supply Worsens Despite N5trillion Investments – Report

Power Supply Worsens Despite N5trillion Investments – Report

The power situation in Nigeria has continued to worsen over the years despite the substantial investments in the sector by past and present administrations in the country, a new report has said. NOIPolls Limited said in its ‘Power Poll Q2 ...

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Governors Seek Ways To Achieve Fiscal Stability From Oil Revenues

Governors Seek Ways To Achieve Fiscal Stability From Oil Revenues

Nigerian governors are seeking ways to achieve steady revenue receipts from crude oil to ensure fiscal stability for both the federal and sub-national governments. The chairman of the Nigerian Governors’ Forum, Kayode Fayemi, said given the central role oil revenues ...

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Nigeria Loses $12bn Yearly to Oil Theft, Stakeholders Seek Govt Action

Nigeria Loses $12bn Yearly to Oil Theft, Stakeholders Seek Govt Action

Nigeria loses between $7 billion and $12 billion to crude oil theft annually, a study by the Nigeria Natural Resource Charter (NNRC) has found, prompting reactions from stakeholders on the implications for the country’s critical sectors like health and education. ...

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League of Maritime Editors Demands Probe Of Asadu’s Port Committee

League of Maritime Editors Demands Probe Of Asadu’s Port Committee

The League of Maritime Editors and Publishers (LOMEP) has written the Speaker of the House of Representatives, Hon. Femi Gbajabimiala,  over the oversight function carried out by the immediate past House Committee on Ports, Harbour and Waterways (PHW) chaired by ...

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Lagos Aviation Academy Regards NCAA’s ATO Approval As Major Milestone

Lagos Aviation Academy (LAA), has announced that its certification by the Nigerian Civil Aviation Authority (NCAA) as an Approved Training Organization (ATO) is one of its major milestones in the first half of the year 2019. This feat enables the ...

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FAAN Speeds Up Emergency Response

FAAN Speeds Up Emergency Response

Federal Airports Authority of Nigeria (FAAN) has reviewed its Airport Emergency Plan (AEP) to minimize the effects of accidents as well as clarify roles and responsibilities of the various stakeholders in the event of any unfortunate incident. The review which was ...

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NDLEA, Shippers’ Council flay smuggling of illicit drugs into Nigeria

Regional Integration: Transport Component Missing In AfCFTA – African Shipowners

The National Drug Law Enforcement Agency (NDLEA), and the Nigerian Shippers’ Council (NSC), have reviewed their synergy to halt smuggling of Tramadol and other illicit drugs into the country. The NDLEA Director in charge of seaports, Omolade Faboyede, during a ...

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Airtel share falls 10% on high stock price

Airtel share falls 10% on high stock price

• Market index loses N30 billion At the close of transactions yesterday, Airtel Africa Plc shares, which opened at N363 shed N39.30 or 10 per cent to close at N359.40 per share. However, this is in sharp contrast to the ...

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CBN limits daily standing deposit facility to N2 billion

CBN limits daily standing deposit facility to N2 billion

Effective from today, Thursday, banks and discount houses operating in the country are to limit their daily access to the Central Bank of Nigeria (CBN’s) Standing Deposit Facility (SDF) to only N2billion or risk not being remunerated. A CBN Circular ...

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NNPC hints of fuel pump price rise, says N145 cheapest in West Africa

NNPC hints of fuel pump price rise, says N145 cheapest in West Africa

Nigerian National Petroleum Corporation (NNPC) has hinted that pump price of premium motor spirit (PMS) may be increased soon, as it described the N145 pump price as the cheapest in West Africa. The new Group Managing Director (GMD), Mele Kyari, ...

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Senate moves to protect indigenous airlines, probes unfair competition

Senate moves to protect indigenous airlines, probes unfair competition

The senate has resolved to unravel the reason foreign airlines were allowed to fly multiple routes within Nigeria to mop up passengers, a practice that is alien to other climes. To that effect, the upper legislative chamber said it would ...

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Amidst concerns DMO puts Nigeria’s public debt at N25trn

Amidst concerns DMO puts Nigeria’s public debt at N25trn

• LCCI urges govt to explore alternative revenue Amidst concerns by the Bretton Woods Institutions, including the International Monetary Fund (IMF), and World Bank over Nigeria’s ability to repay its foreign debt, which has continued to rise, the Debt Management ...

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Equity investors may lose dividend as non-performing loans rise

Equity investors may lose dividend as non-performing loans rise

• Banks recorded N1.5 trillion unpaid facility in 2018 • Why there are more cases of default, by operators The huge rise in banks’ non-performing loan ratio triggered by the prevailing economic downturn has become a source of worry to ...

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Half Year Report: Apapa Customs Generates N203 Billion

Half Year Report: Apapa Customs Generates N203 Billion

By Kenneth Jukpor Nigeria Customs Service (NCS), Apapa Command has generated a total of two hundred and three billion, two hundred and sixty-four million, fifty-four thousand, six hundred and eighty- two naira, sixty-nine kobo (N203,264,054,682.69) in the first half of ...

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Jaunty Julia

Jaunty Julia

  Julia Oku-Jaks is the Chief Executive of TreeWater Retreats Limited, a personal discovery, leadership and learning organization. From lecturing in the English & Literary Studies department of the University of Calabar, Julia made a career shift to branding and ...

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Airtel listing pushes market capitalisation by N1.34 trillion

Airtel listing pushes market capitalisation by N1.34 trillion

Despite price losses that outweighed gains, transactions in the equities sector of the Nigerian Stock Exchange (NSE), sustained rising profile as market capitalisation rose by N1.34 trillion. The increase in NSE’s market capitalisation is attributable to Airtel Africa’s cross-border secondary ...

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Pirates attack on Nigerian waters drop further

Pirates attack on Nigerian waters drop further

Nigerian waters are gradually becoming safer for vessels, as latest report by the International Maritime Bureau’s (IMB), reveals a downward trend in the spate of pirate attacks on the nation’s waters. This is coming few weeks after President Muhammadu Buhari ...

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