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Maritime Forecast 2019/20: Assets Acquisition, Capacity Development Are Essential – NIMASA

Nigeria’s seaborne trade hits N33.2 billion

According to the postulations in the Maritime Forecast released by the Nigerian Maritime Administration and Safety Agency (NIMASA) for Nigerians to actively participate in the maritime and shipping sector, asset acquisition and human capacity development are important. Speaking shortly after ...

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Crude Oil Not Sold For U.S.$100 In 16 Years Of PDP – Atiku

Crude Oil Not Sold For U.S.$100 In 16 Years Of PDP - Atiku

The Presidential candidate of the Peoples Democratic Party (PDP) on Wednesday punctured the claim by the President Muhammadu Buhari-led federal government that oil price hovered at $100 per barrel in the 16 years of PDP’s rule, saying it was only ...

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Manufacturers Spent N246bn On Fuelling Generators In Two Years —MAN

Manufacturers Spent N246bn On Fuelling Generators In Two Years —MAN

Against the backdrop of the worsening public power supply, new data have emerged showing that manufacturers in Nigeria spent a total of N246.38bn generating their own electricity between 2016 and 2017. Further analysis of the data compiled by the Manufacturers ...

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Stock Market Investors Lost N326bn In January

Stock Market Investors Lost N326bn In January

Investors in the nation’s stock market lost a total of N326bn in January as bearish sentiment persisted. The equities market opened the year on a negative note as investors lost N134.4bn at the close of trading on the first trading ...

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FG’s New Maintenance Policy Will Drive SMEs – Fashola

FG’s New Maintenance Policy Will Drive SMEs – Fashola

The Federal Government has said that the implementation of its new National Public Buildings Maintenance Policy will empower Nigerians, especially artisans and small and medium enterprises. The Minister of Power, Works and Housing, Babatunde Fashola, said this while briefing the ...

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Guinness Inaugurates Agric Scheme To Support Local Content

Guinness Inaugurates Agric Scheme To Support Local Content

Guinness Nigeria Plc has inaugurated an agriculture scheme to support the Federal Government’s efforts to diversify the Nigerian economy as well as deepen the local content policy of government. According to the firm, the scheme, which it tagged, ‘Grow with ...

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Foreigners, Others Quit Contributory Pension, Withdraw N24.95bn

Foreigners, Others Quit Contributory Pension, Withdraw N24.95bn

Foreign nationals have opted out of the Contributory Pension Scheme and withdrawn all their contributions from their respective Retirement Savings Accounts. The foreigners decided to return to their countries after working in Nigeria. Similarly, some retirees under the CPS, who ...

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NIRSAL MFB Targets 400,000 SMEs In Two Years

NIRSAL MFB Targets 400,000 SMEs In Two Years

After months of extensive preparation, NIRSAL Microfinance Bank will this month begin operations with a target to reach about 400,000 Small and Medium Enterprises within its first two years. The NMFB is a brainchild of the Bankers’ Committee, the Nigeria ...

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Nigeria moves to dominate global oil industry with 100 firms

Nigeria moves to dominate global oil industry with 100 firms

Sixty-three years after the discovery of oil in commercial quantity, the Federal Government yesterday said Nigeria was poised to play a commanding role in the industry globally through100 indigenous companies. Speaking at the launch of ‘Project 100’ in Abuja, the ...

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30 fuel vessels, others stuck on Lagos high sea

30 fuel vessels, others stuck on Lagos high sea

The Nigerian Customs Service (NCS) cumbersome documentation process may have delayed about 25 vessels currently stuck on the Lagos high sea, laden with petroleum products, and other goods waiting to berth and discharge the products for domestic consumption. The latest ...

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NAHCO restrategises to sustain growth, increase value

NAHCO Promises Shareholders Increased Returns

The National Aviation Handling Company (NAHCO), has announced a five-year transformation plan that would help optimise its resources for sustainable growth and increased shareholders’ value.Under the plan, NAHCO said it will invest heavily on capacity building for its people, technology ...

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‘Unethical conducts may kill more businesses in Nigeria’

‘Unethical conducts may kill more businesses in Nigeria’

Rising cases of unethical practices in corporate organisations may be putting more firms in jeopardy, unless a critical intervention is made to instill the ethics of corporate governance in the system. Already, thousands of companies including a number of banks ...

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Udoma, Enelamah push economic recovery, growth agenda

Udoma, Enelamah push economic recovery, growth agenda

Nigeria’s delegation to the 2019 edition of the World Economic Forum (WEF), in Davos, Switzerland, made a strong case for the country’s economic priorities within the development policy framework of the Economic Recovery and Growth Plan (ERGP). The delegation was ...

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i-Invest hits over 70,000 downloads

i-Invest hits over 70,000 downloads

Investment mobile application (App), which allows users to purchase Treasury Bills (T-Bills) directly from their smartphones has recorded over 70,000 downloads on Apple App Store, and Google Play Store in less than 10 months of its entry into the market, ...

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NPA cleans up oil spill from Onne Port water channel

NPA cleans up oil spill from Onne Port water channel

For smooth and safe navigation, the Nigerian Ports Authority (NPA), has commenced the cleanup of oil spills on the Onne Port Channel linking the Federal Oceans Terminal (FOT) Onne, River State.The Port Manager, Onne, Alhassan Ismaila Abubakar, who disclosed this ...

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Stable forex rate aided price stability of consumer goods, says MAN

Stable forex rate aided price stability of consumer goods, says MAN

The Manufacturers Association of Nigeria (MAN), has said the ability of the Central Bank of Nigeria (CBN), to sustain intervention in the real sector as well as maintain a stable foreign exchange (forex) rate has positively impacted the prices of ...

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Shell profit soars to $23 bn in 2018

Shell inducts 30 graduates for industry internship

Energy giant Royal Dutch Shell on Thursday said its net profit surged 80 percent to $23.4 billion in 2018, thanks to higher oil prices and cost cuts. Profit after tax had come in at almost $13 billion in 2017, the ...

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APPO to make oil beneficial to Africans, says minister Ibe Kachikwu

APPO to make oil beneficial to Africans, says minister Ibe Kachikwu

•As group inaugurates board in Abuja Nigeria’s Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, Tuesday, in Abuja, said the African Petroleum Producers Organisation (APPO), will ensure that Africans benefitted from the continent’s hydrocarbon resources. Speaking at the inauguration ...

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‘Fuel subsidy fund would find better use in developing infrastructure’

‘Fuel subsidy fund would find better use in developing infrastructure’

The Director of Research and Advocacy, at the Lagos Chamber of Commerce and Industry (LCCI), Vincent Nwani, has said that the fuel subsidy regime of the Federal Government has remained a rent and a drain on the nation’s economy. He ...

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Dangote explains investment in refinery, petrochemicals

Dangote explains investment in refinery, petrochemicals

The ongoing investment in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector, the President/Chief Executive, Aliko Dangote has said. Dangote, who made this disclosure ...

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