Business News

TCN says power generation peaks at 3,528 megawatts

By Abimbola Fashakin, Lagos The Transmission Company of Nigeria (TCN) has stated that the nation’s power generation has improved slightly to 3,528.90 megawatts on February 1 from 2,662 megawatts on January 22.

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FG says Chinese $1.5b loan for Lagos-Ibadan rail project ready

By Wahab Akanji, Abuja The Federal Government has stated that it had secured a $1.5 billion from the China Exim Bank to commence work on the Lagos-Ibadan rail line project.

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Ayade in China, meets Huawei on Calabar Smart City project

By Solomon Akaniyene, Calabar Cross River State Governor, Prof. Ben Ayade and the management team of Information Communication Technology (ICT) giant, Huawei have held their first technical session on the Calabar Smart City Project.

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Oil marketers arrest members in Imo over adulterated petroleum products

By Achike Amadi, Owerri The Imo State chapter of the Independent Petroleum Marketers Association on Nigeria (IPMAN) has arrested three petrol station operators in Owerri, the state capital for selling adulterated petroleum products to the public.

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FG approves $1.2bn for Kano-Kaduna rail project

By Abimbola Fashakin, Lagos The Federal Government has approved 1.2 billion US dollars for the construction of the Kano-Kaduna standard gauge railway project.‎‎

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Banking sector records transactions worth N65trn in 2016 – NBS

By Abimbola Fashakin, Lagos The National Bureau of Statistics (NBS) has stated that a total volume of 910,186,115 transactions valued at N65.16 trillion were recorded in 2016 as electronic payment in the banking sector.

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Reps threaten to arrest Emefiele, AGF over sale of oil blocs

By Wahab Akanji, Abuja Members of the Federal House of Representatives have threatened to issue warrant of arrest on the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele and the Accountant-General of the Federation (AGF), Mr Ahmed Idris over oil licenses.

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Stock Exchange moves 237.79m shares worth N2.19bn

By Abimbola Fashakin, Lagos The Nigerian Stock Exchange (NSE) has moved a total of 237.79 million shares valued at N2.19 billion transacted in 2,725 deals in a positive trading.

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Oil marketers allay fears over likely fuel pump price hike

By Abimbola Fashakin, Lagos The leadership of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has told it members to disregard the rumour of a possible price hike of petroleum products.

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CURBING CORRUPTION IN THE NIGERIAN PORTS

Victoria Hanson Corruption, according to Economist Ian Senior is an action to secretly provide  good or a service to a third party  so that he or she can influence certain actions which  benefit the corrupt, a third party, or both  in which the corrupt agent has authority. 

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