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Month: July 2017

CBN pledges sound financial system

The Central Bank of Nigeria (CBN) says it has taken necessary steps to prevent the Nigerian banking sector from being used to launder money and other illegal activities. The CBN Governor, Mr Godwin Emefiele made the assurance at the opening of the Regional Course on “Combating Money Laundering and other Financial Crimes’’ in Abuja. The course, organised […]

NNPC pledges steady products supply and availability

The Nigerian National Petroleum Corporation (NNPC) has pledged that despite challenges in the downstream petroleum sector, petroleum products would continue to be available in all parts of the country. The NNPC Group Managing Director, Dr Maikanti Baru, made the pledge at the end of the 24th, 25th and 26th Annual General Meeting of its downstream […]

APC chieftain Tinubu urges legislature, executive to work together

A chieftain of the ruling All Progressive Congress, APC, Ahmed Tinubu has urged the executive and the legislative arms of government to work together for benefit of the nation. Tinubu made the call while speaking to journalists on the sidelines of a condolence visit paid to the Kano state government and the people of the […]

Inflation rate drops for fifth consecutive time to 16.1% ─ NBS

The National Bureau of Statistics on Monday released the Consumer Price Index which measures inflation with the index dropping from 16.25 per cent in May to 16.1 per cent as at the end of June. The bureau in the report made available to our correspondent in Abuja said this is the fifth consecutive decline in […]

Stock Exchange indices record marginal growth of 0.04%

Transactions on the Nigerian Stock Exchange (NSE) ended for the week on Friday on a cautious note with the market indices increasing marginally by 0.04 per cent. The market capitalization improved by five billion naira or 0.04 per cent to close at N11.463 trillion as against N11.458 trillion on Thursday. Also, the All-Share Index rose […]

Oyo state secures $5bn for industrialization from China

  Gov. Abiola Ajimobi of Oyo State has stated that his administration has secured the commitment of five billion dollars from China in the development of the newly established Free Trade Zone(FTZ) in the state. The governor made the disclosure while receiving an Industrial Policy and Strategic Document from a delegation of United Nations Industrial […]

Energy commission tasks investors on reflective tariff

Prof. Jidere Bala, the Director-General of Energy Commission of Nigeria (ECN), has advised investors in power sector to maintain good relationship with consumers through low but cost reflective tariff regime. Bala told newsmen in Lagos that electricity was a service and consumers must have good relationship with the suppliers. The Director-General said that Generating Companies […]

FG supports 327,000-tonne iron, steel plant

The Federal Government has announced its support for the establishment of a 327,000-tonne iron and steel plant as part of its plan to diversify the economy away from oil. The Minister of Industry, Trade and Investment, Okechukwu Enelamah, gave the indication on Friday during a facility tour of Standard Metallurgical Company Limited in Sagamu, Ogun […]

Refineries now supplying 60% kerosene demand – NNPC

The Nigerian National Petroleum Corporation on Sunday said that its refineries in Port Harcourt, Warri and Kaduna were now supplying 60 per cent of the Dual Purpose Kerosene being consumed in the country. This, it said on Sunday, was in line with the 2019 target date by the Federal Government to stop the importation of […]

London-bound Medview passengers stranded in Lagos

Scores of London-bound passengers of Medview Airlines were on Sunday left stranded at the Murtala Muhammed International Airport in Lagos. It was learnt that some of the passengers arrived the Lagos airport as early as 10am in order to be checked-in for the 1pm flight to London but could not do so, as officials of […]

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