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Fire blazing, @phemmiie @chappierichy we are back!!!

check out this mind blowing freestyle

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The Nigerian Civil Aviation Authority (NCAA) has warned scheduled commercial airline operators in Nigeria to desist from arbitrarily increasing miscellaneous charges on ticket payment content without the authority’s approval. Airlines have variously been accused of padding charges to their tickets without any explanation to either the passengers or the regulatory authority. NCAA has therefore directed […]

NCAA warns airlines over arbitrary increase of air fares

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It is a situation that mirrors the giant oil industry, where Nigeria has abundant resources but has lacked the capacity, will or ability to exploit it, forcing a reliance on imports. But Africa’s richest man, Aliko Dangote is hoping to change tomato production with a giant factory that will boost domestic output, create jobs, and […]

Dangote invests in tomato production to create jobs, tackle poverty in Kano

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The Consumer Price Index (CPI), which measures inflation, rose further to 9.6 per cent in December compared to 9.4 per cent in the previous month, according to the National Bureau of Statistics (NBS). The 0.2 per cent increase in the headline index was attributed partly to higher prices in imported food items and an increase […]

Higher food prices, transportation push inflation to 9.6%

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Nigeria’s dwindling oil revenue is expected to fall further as Iran is set to commence immediate exports of at least 500,00 barrels of crude oil per day (bpd) following the lifting of international sanctions against the country at the weekend, thus worsening the oil glut in the global market. The federal government’s 2016 budget, which […]

Nigeria faces further revenue slump as Iran returns to oil market

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About $1 billion has already been expended on the revival of Nigerian Telecommunication Limited (NITEL) and its sister company, Mobile Telecommunication Limited (Mtel), which were recently acquired by NATCOM Development and Investment Limited from the Nigeria Telecommunications Limited (NITEL). The injected funds and other efforts would see the company engage 4,000 employees by March, as […]

New owners inject $1bn in NITEL to revive telecoms firm

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With crude oil trading around $30 per barrel in the international market from a peak of $114 in June 2014, production from Nigeria now faces a decline as some fields face an imminent shutdown if the low oil price persists. Industry players say operating some of the fields in the country is becoming uneconomic, with […]

Nigeria’s oil fields face shutdown amid price slump

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The Nigeria Deposit Insurance Corporation has released deposit insurance guidelines on the mobile payment system, known as ‘Pass-Through Deposit Insurance scheme’. The NDIC said the move followed the introduction of mobile banking in Nigeria by the Central Bank of Nigeria, which issued operating licences to many Deposit Money Banks and telecommunications companies to provide mobile […]

NDIC unveils protection measure for mobile money subscribers

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Nigeria’s first high speed train moving from Abuja to Kaduna will commence operation in March this year, the Managing Director, Nigerian Railway Corporation, Mr. Adeseyi Sijuwade, has said. Already, he said the corporation would take delivery of modern coaches that could run on the standard gauge track next month to facilitate the take-off of the […]

Abuja-Kaduna train begins operation in March

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The Federal Government has cut its budget for the Lagos-Ibadan Expressway from N66bn to N50bn in the 2016 Appropriation Bill, representing a drop of 24 per cent. Currently undergoing reconstruction, the two contractors handling the project, Julius Berger Plc and Reynolds Construction Company (Nigeria) Limited, are being owed several billions of naira for the job […]

FG slashes Lagos-Ibadan Expressway budget to N50bn

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The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has commenced the delivery of the 2015/2016 Zonal Intervention programmes of the National Assembly domiciled in the agency to various senatorial districts and federal constituencies across the country. The programme are tailored towards providing entrepreneurship training and vocational skills as well as variety of empowerment […]

SMEDAN begins delivery of empowerment programme nationwide

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The federal government on Saturday solicited the understanding of Nigeria’s organised private sector against massive workers’ lay off at the moment, stating that the country’s economy is rather unstable and unable to take the likely shock from such exercise. The government said in Abuja that the sack of any employee would have serious negative effect […]

FG appeals to private sector against mass job cuts

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Saturday debunked an alleged report that some of its members had threatened to embark on a nation-wide strike. The rebuttal was contained in a statement issued by the National Operations Controller of IPMAN, Mike Osatuyi, and made available to the News Agency of Nigeria (NAN) in […]

IPMAN refutes report on purported nationwide strike

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Trading on Thursday on the floor of the Nigerian Stock Exchange ended on a negative note with losses in the shares of Seplat Petroleum Development Company Limited, Oando Plc, Guaranty Trust Bank Plc, FBN Holdings Plc and FCMB Group Plc, among others, pushing market capitalisation down by N297bn. At the close of trading, the market […]

NSE capitalisation drops by N297bn

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The Africa Development Bank said it had approved the sum of $12.5m equity investment in Alitheia Identity Fund to invest in Small and Medium Enterprises being driven by women. AIF is a private equity fund managed by Alitheia Identity Managers, a joint venture between two established women-owned fund management companies, Alitheia Capital Limited of Nigeria […]

AfDB invests $12.5m in women-owned SMEs

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Shareholders in the country’s capital market have stressed the need for the Securities and Exchange Commission to take its electronic dividend campaign to the six geopolitical zones of the country. The shareholders, who spoke to our correspondent in separate telephone interviews, said although the commencement of the e-Dividend campaign in Abuja was laudable, SEC should […]

Expand e-Dividend campaign across Nigeria – Shareholders tell SEC

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Bank customers are shying away from making cash deposits into their domiciliary accounts three days after the Central Bank of Nigeria lifted the ban on foreign currency deposits, our correspondent has learnt. The CBN had Monday said holders of ordinary domiciliary accounts were allowed to deposit foreign currencies into their accounts, a move that ended […]

Bank customers shun cash deposits into domiciliary accounts

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The Managing Director of Cloud Energy, trading as cloudenergy.com.ng, Mr. Theophilus Nweke, has called on the federal government to consider setting up renewable energy fund for Nigerians, to enable them have easy access to finance  that will boost electricity supply to their homes, offices and business premises. According to him, the call became necessary in […]

FG urged to create renewable energy fund to boost electricity

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The Bureau of Public Enterprises (BPE) has formally written to the Vice-President, Prof. Yemi Osinbajo, to explain the role its Director General, Banjamin Dikki played in engaging the legal team that concluded the winding up exercise of defunct Power Holding Company of Nigeria (PHCN). Also in a related development, the Nigerian Electricity Regulatory Commission (NERC) […]

BPE writes Osinbajo, clears controversy on payments for PHCN’s windup

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Nigeria said wednesday it would not cut oil production outside the framework of the Organisation of Petroleum Exporting Countries (OPEC), even as nose diving crude prices caused by a global supply glut have ravaged its revenue. US crude oil prices fell below $30 a barrel on Tuesday, prompting Nigeria, an OPEC member country, to call […]

Nigeria rules out cutting oil production in isolation of OPEC

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