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Inflation was 11.31% in February ― NBS

THE consumer price index, (CPI) which measures inflation increased by 11.31 per cent (year-on-year) in February 2019. This is 0.06 per cent points lower than the rate recorded in January 2019 (11.37) per cent. Increases were recorded in all COICOP divisions that yielded the Headline index. On a month-on-month basis, the Headline index increased by […]
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FG, India collaborate to enhance $12bn biliteral trade

The Federal government in a bid to improve the country’s economic growth through investment particularly into the manufacturing sector is working forwards enhancing the $12 billion Nigeria and India annual bilateral trade. Speaking in Abuja on Wednesday while receiving the Indian High Commissioner to Nigeria, Mr Shri Abhav Thakur, in his office, Minister of Industry, […]
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NNPC to take over operatorship of oil mining lease

The Federal Government has directed the Nigerian National Petroleum Corporation (NNPC) to take over the operatorship of the controversial Oil Mining Lease (OML) 11. OML 11 lies in the southeastern Niger Delta and contains 33 oil and gas fields of which eight are producing as per 2017. In terms of production, it is one of […]
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HealingInAPhone: SeekMed offers quality healthcare services with new mobile app

Leading telemedicine mobile application, SeekMed has just announced its launch and availability in Nigeria. The mobile application, home to a host of doctors who are recipients of Padma Bhushan and Padma Shri, the third and fourth highest civilian award in the Republic of India respectively, is set to offer Nigerians the choice of getting impeccable […]
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VAT: Lagos, Abuja generate N69.4bn of N83.2bn January revenue

Lagos State generated N50.4 billion or 60.8 per cent of total N83.2 billion generated from Value-Added tax (VAT) into Federation Account in January 2019. According to documents related to the Federation Account Allocation Committee (FAAC), Federal Capital Territory (FCT) came a distant second with N18.9 billion. Oyo State was third on the list with a […]
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Why piracy persists in Nigeria’s maritime sector ― Navy

The Head, Maritime Guard Command of the Nigerian Maritime Administration and Safety Agency (NIMASA), Navy Capt. Yahuza Badamosi has revealed that delay in passage of the Piracy Bill and the slow judicial process in the country are major reasons piracy attacks persists on Nigerian waterways. Speaking recently when the Shipping Correspondents Association of Nigeria (SCAN) […]
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ENYO invests N8bn in downstream business, targets expansion, acquisition

A group of Nigerian investors have invested N8billion in downstream retail business with the aim of expanding market share in the downstream sub-sector of the oil and gas sector in Nigeria. The group, operating under ENYO Retail and Supply Ltd, is led by its Chairman, Mr Tunde Folawiyo. Addressing journalists in Lagos on Wednesday, the […]
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Sterling Bank lists N33bn bonds on NSE, FMDQ

STERLING Bank Plc, Nigeria’s leading commercial bank has simultaneously listed the Sterling Investment Management SPV PLC ₦32.90 billion Series 2 on FMDQ OTC Securities Exchange and the Nigerian Stock Exchange (NSE). The bond which is unsecured with a tenor of seven years at a fixed rate of 16. 50 per cent is part of a […]
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Zenith Bank posts N232bn PBT, offers N2.80k/share dividend

ZENITH Bank has announced an impressive result for the year ended December 31, 2018, with profit before tax (PBT) rising to N232 billion for the 12 months ended December 31, 2018. Also, in demonstration of its commitment to its shareholders, the bank has announced a proposed final dividend pay-out of N2.50 per share, bringing the […]
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