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FAAN: Ridding the airports of touts

Disturbed by the bad reputation which touts give Nigerian airports, the Federal Airports Authority of Nigeria (FAAN) has begun to rid the Lagos Airport of miscreants and address some other critical safety issues, reports IME AKPAN The Murtala Muhammed International Airport (MMIA) Lagos serves as a major hub for the Nigerian air transport industry since […]

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Authorities investigate death at Driefontein mine

Sibanye-Stillwater and the Department of Mineral Resources are conducting an investigation into the death of an employee at the Driefontein mine on Monday evening in South Africa. The incident was said to have occurred while the employee was clearing a blocked ore pass according to MiningWeekly. MiningWeekly reports that, “Sibanye-Stillwater expresses its deepest condolences to […]

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Gold mining firm emerges most promising coy at mining Indaba

A Nigerian gold mining firm operating in Osun state, Thor Exploration Limited (also known as Segilola), has emerged winner of the 2018 Investment Battlefield for its gold exploration project in the south west state. The company was selected as the most promising of the 22 junior mining companies that participated in the Investor Battlefield Competition, […]

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FG, others hail Dangote at Kogi Summit

Abuja The huge investments and philanthropic strides of Africa’s top industry-Dangote Group- came into limelight as Kogi State opened its First Investment Summit in Lokoja yesterday. The conglomerate is the major sponsor of the two-day summit with the theme: ‘Discover uncommon Investment Opportunities in the Confluence.’ The Dangote Cement’s Obajana Plant is the single largest […]

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FG ready to establish mining commission

The federal government has concluded arrangements to establish the Nigerian Mining Commission, to take charge of the regulatory role of the Ministry of Mines and Steel Development. The Minister of Mines and Steel Development, Dr. Kayode Fayemi, who disclosed this at the Nigeria Day event at the 2018 African Mining Indaba, in Cape Town, South […]

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Increased global oil supply may overtake demand in 2018 – IEA

The International Energy Agency (IEA) has said that the rise in global oil production, led by the United States, is likely to outpace growth in demand this year, Reuters have reported. The Paris-based IEA on Tuesday raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection […]

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Shale surge won’t affect plan to clear glut – OPEC

Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, the Organisation of Petroleum Exporting Countries (OPEC), has said. According of Bloomberg, the market should re-balance this year, given robust demand and producers’ compliance with their pledges to curtail supply, Suhail Al Mazrouei, currently […]

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Oil production rises by 167,000b/d in January

  Figures released by the Organisation of the Petroleum Exporting Countries (OPEC) in its monthly oil market reports for February, showed that Nigeria’s oil production for January stood at 1.736 million barrels per day, from 1.569mb/d in December. The 6th largest oil producing country’s oil production dropped by 22,000 barrels per day in December following […]

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INTELS does not discriminate against physically-challenged persons –Lumati

Peter Lumati is a physically-challenged person. He is also a staff of INTELS Nigeria Limited. In this interview, Lumati encourages persons with physical disabilities to move beyond self-pity and develop themselves so as to live full lives. Tell us your name and a bit about yourself? My name is Peter Lumati. I hail from Ogbum-Nu-Abali […]

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Green infrastructure as panacea for ecosystem services

Building green and sustainable cities in both urban and rural areas has to comply with the ecosystem services that green infrastructure can provide, HELEN OJI writes on the pillars that make a green city in an environment setting. Building green and sustainable cities consistent with the United Nations Sustainable Development Goal 11 (SDGs), which is […]

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I ‘d rather fry and sell ‘akara’ than beg–Widow

Yes, the times are hard, but a single mother of two, Aisha Yakubu, found solace in selling bean cake, popularly called “akara”, rather than resort to begging in the city of Abuja, she confides in ADEOLA TUKURU Aisha, 34, a native of Kogi State came to the city of Abuja in 2013, with nothing and […]

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Over 2,500 investors to participate at 3rd Real Estate summit

  Over 2,500 investors have indicated their intention to participate in this year’s edition of the Nigeria Real Estate Summit and Expo, its organisers have said. Also, at the summit, N20billion worth of real estate deals is expected to be struck. The summit, which is the 3rd in its series, with the theme: “Collaborating to […]

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FX market gets $210m boost

Abuja The inter-bank Foreign Exchange market has received the sum of $210million from the Central Bank of Nigeria (CBN), to meet customers’ requests in various segments of the market. In its determination to meet the customers’ needs in the sundry segments of the market, the CBN offered $100million to authorized dealers in the wholesale segment […]

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BPSR boss lauds budget ministry

The Ag. Director-General of Bureau of Public Service Reform (BPSR), Mr. D. I. Arabi has commended the management of Budget and National Planning Ministry for driving the change matrix of the federal government through its Capacity Building Process among the staff of the Ministry. The training is to restore the value of governance and adopt […]

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Equity market opens in negative trend, shedding N139bn

Lagos Transactions at the nation’s equity market opens in downward trend, declining by N139 billion. Market capitalisation of listed equities depreciated by 0 90 per cent to N15.337 trillion from N15.476 trillion recorded the previously. The Nigerian Stock Exchange All Share Index dropped by 390.03 basis points to 42737.89 points from 43127.92 points reported on […]

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The science, technology and innovation expo 2018

Innovation is an aspect of study and research methodology that is very vital in every aspect for any developing or developed nation. BINTA SHAMA examines this report from the Federal Ministry of Science and Technology. No stone is left unturned The Minister of the Federal Ministry of Science and Technology, Dr Ogbonnaya Onu being the […]

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Used clothes: Why worldwide demand declining

The rise of fast fashion retailers has meant that consumers can buy trendy clothes almost the second they’re designed – and just as quickly move on to the next fad. Most of us try to lessen the guilt of our fashion fickleness by dropping those barely worn clothes off at a charity shop. According to […]

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Free trade zones: Ghana tasks Nigeria on leadership

Abuja Nigeria and Ghana have further deepened their socio-economic bonds, with a call by the Ghana Free Trade Board (GFTB) for a strategic partnership, beginning with a Memorandum of Understanding (MoU) with the Nigeria Export Zones Processing Authority (NEPZA). According to a statement yesterday issued by NEPZA’s spokesman, Simon Imobo-Tswam, the Chief Executive Officer (CEO) […]

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Fitch affirms Sterling Bank’s ratings, outlook stable

Lagos Fitch Ratings has affirmed Sterling Bank’s Long-Term Issuer Default Rating (IDR) of ‘B-‘ and National Long-Term Rating of ‘BBB-(nga)’ with a stable outlook for reasons that include its coherent strategy and ability to attract more stable deposits in challenging operating conditions. Cutting through the industry’s jaded product offerings through innovation, the leading Tier Two […]

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N516bn debt: Ministers’ claim unverifiable, airline operators insist

Nigerian airline operators have described as unverifiable, the claims by the Minister of Aviation, Hadi Sirika, that they were indebted to aviation agencies and other firms to the tune of N516 billion. The Chairman of Airline Operators of Nigeria (AON), Nogie Meggisson, who said thiswhile briefing journalists in Lagos yesterday insisted that the ministers’ Mr. […]

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Forex: CBN intervenes in Retail SMIS with $325.64m

The Central Bank of Nigeria (CBN) has again intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $325.64 million. Figures obtained from the Bank on Friday, indicated that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors. The figures were confirmed by […]

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Banks’ profit increases above 60% in one year

Deposit Money Banks (DMBs) profit increased by more than 60 percent in the last one year. The profit are mainly driven by increases in interest income. Banking sector net interest income is the difference between the revenue that is generated from a bank’s assets and the expenses associated with paying out its liabilities. A member […]

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Currency-in-circulation increases by 21.1% in Q4 2017

Stories by Amaka Ifeakandu Lagos Currency-in-circulation in the financial system rose by 21.1 per cent to N2.157 trillion at the end of fourth quarter 2017. The amount was above the level in the third quarter of 2017. The Central Bank of Nigeria (CBN) report for last quarter of last year said that the development reflected […]

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Ways to grow side hustle into full-time income

If you are making a couple of bucks on the side you are much closer to a real business than you might realize. However, if you are struggling to make ends meet, that might not be the path for you. But, either way you look at it, there are ways you can turn your side […]

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Nigeria raked in N7.3trn oil revenue in 2017– CBN

By Benjamin Umuteme Abuja Central Bank of Nigeria (CBN) has staed that Nigeria’s total revenue from crude oil rose by 29 percent to N7.3 trillion in 2017, reflecting impact of increases production and in crude oil price. The revenue from oil represented 69 percent of the total federation revenue, which rose by 22 percent to […]