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Online Editor

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Bold monetary , fiscal policies needed for Nigeria’s economic recovery

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The Governor of the Central bank of Nigeria says the country’s economic  recovery could relapse  if strong and bold monetary and fiscal policies are not activated to sustain it. The apex bank Governor, Mr. Godwin Emefiele, said this at the end of the Monetary committee’s two-day meeting, in Abuja, Nigeria. He said the economy is […]

9mobile appoints Citi, Standard Bank to find new investors

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9mobile, the mobile operator formerly known as Etisalat Nigeria, has appointed Citigroup and Standard Bank to find an investor to buy into the firm, with three companies already showing interest, a banking source close to the deal said on Tuesday. India’s Bharti Airtel, which already has a presence in Nigeria, as well as Britain’s Vodafone […]

Kaduna communities record two-year uninterrupted power supply – FG

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The Federal Government on Tuesday announced that two communities in Kaduna State recently recorded two straight years of uninterrupted supply of electricity. It said the Gnami and Pakau communities enjoyed uninterrupted power from the 90-kilowatt Solar PV off-grid system installed in the areas, as the villages were far from the reach of the national power […]

N’Assembly passes controversial Peace Corps bill

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Despite a contrary legal advice, the Senate on Tuesday passed the bill seeking to establish the Nigerian Peace Corps in concurrence with the House of Representatives. The Senate Committee on Judiciary, Human Rights and Legal Matters, in its report, which was considered at the plenary on Tuesday, strongly criticised the establishment of the corps. But […]

Stock market hits two-year high, soars by N218bn

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The nation’s bourse recorded its highest return in over two years on Monday, as the Nigerian Stock Exchange market capitalisation appreciated by N218bn in one session. At the close of trading on Monday, equities’ capitalisation rose to N11.943tn from N11.725tn recorded last Friday, while the NSE All-Share Index closed at 34,652.52 basis points from 34,020.37 […]

Zero oil revenue days fast approaching, says Osinbajo

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Acting President Yemi Osinbajo on Monday declared that the days in which no single revenue would be generated from crude oil were fast approaching. Osinbajo, who spoke at the Extra-ordinary Session of the Council of Ministers of the African Petroleum Producers Organisation in Abuja, noted that technology was fast depleting the usefulness of crude oil. […]

Power generation falls below 3,000MW, seven plants idle

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The nation’s power generation has fallen below the 3,000 megawatts mark as the number of idle power plants increased to eight on Sunday from five on Friday. The nation’s power grid lost a total of 743.4MW over the weekend as generation dropped from 3,306.6MW on Friday to 2,632.4MW and 2,563.2MW on Saturday and Sunday, respectively. […]

CBN returns N51.9bn illegal deductions to bank customers

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The Central Bank of Nigeria has said that it has recovered over N51.9bn illegally deducted by commercial banks and returned it to the customers. The CBN stated that the amount was illegally removed from the accounts of bank customers across the country in the past five years. The Acting Director, Corporate Communications, CBN, Mr. Isaac […]

British government to invest in pipeline infrastructure, gas, power

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The British Government has expressed its readiness to invest in pipeline infrastructure, renewable energy, gas and power of the Nigerian Oil and Gas Industry. The British High Commissioner, Mr. Paul Arkwright, made this disclosure when the Group General Manager, Group Public Affairs of the Nigerian National Petroleum Corporation, Mr. Ndu Ughamadu, paid a courtesy visit […]

Debt servicing gulped N7.88tn in five years – DMO

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The Federal Government spent $25.82bn to service its debts between 2012 and 2016, the Debt Management Office has said. If converted to naira using the official rate of N305 to one dollar as of December 31, 2016, DMO said this amounted to N7.88tn. The DMO, which stated this in its 2016 Annual Report and Statement […]