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  • Asaba Airport Handles 6,349 flights, 192,714 Passengers, Articles

    November 25, 2013 1:25 AM 29

    Asaba Airport has handled 6,331 flights and 192,651 passengers as at the end of October 2013, two years after commencing commercial flight operations, according to data made available to THISDAY. When the 18 flights and 63 passengers handled before commercial flights began are added, the total figures come 6,349 flights and 192,714 passengers. With an average

  • Dangote Cement consolidates leadership in Africa with Senegal, South African plants in 2014

    November 25, 2013 12:30 AM 33

    WorldStage Newsonline-- Dangote Cement Plc is a step closer to its aim of becoming Africa’s leading supplier of cement with its intention to open both its cement plants in Senegal and South Africa. According to a statement, the company’s chief executive, D.V.G. Edwin recently said: “Our plant in Senegal will soon be producing cement and our South African

  • SSS Clamp Down On Banks And Its Economic Implications

    November 24, 2013 8:29 PM 46

    Nigeria has always occupied a top position on the unflattering list of corruption and money laundering. Last December, it was placed seventh in the list of the 20 biggest exporters of illicit financial flows over a decade, with cumulative figure of $129 billion and an average of $12.9 billion, by Global Financial Integrity (GFI), a Washington-based research

  • Shell Nigeria shuts gas plant over encroachment on right-of-way of pipelines

    November 24, 2013 7:26 PM 26

    WorldStage Newsonline--The Shell Petroleum Development Company of Nigeria Limited said it has shut down the Obigbo gas plant in Rivers State due to encroachment on the right-of-way of gas pipelines. SPDC in a statement signed by its spokesperson, Precious Okolobo, stated that the company took the action on discovering that different types of buildings

  • BPE confirms privatisation of Nigeria’s refineries in 2014

    November 24, 2013 6:07 PM 36

    The Bureau of Public Enterprises, BPE, on Sunday said it would privatise the four refineries in the country next year. The Bureau’s Head of Public Communications, Chigbo Anichebe, said in Abuja that the refineries’ privatisation was part of the ongoing oil sector reforms. Earlier last week, the Minister of Petroleum Resources, Diezani Alison-Madueke

  • 100 Million Nigerians Are Destitutes, 63% Living Under $1.25 a Day! – WORLD BANK

    November 24, 2013 12:24 PM 24

    Marie-Francoise Marie-Nelly, World Bank Country Director for Nigeria, in Enugu said at the bank’s Country Programme Portfolio Review that 100 million Nigerians live in destitution and abject poverty. Her words, “1.2 billion people live in destitution out of which 100 million are Nigerians. Inequality is rising in many developing nations. “For this reason

  • Benchmarking 2014 budget oil price at $85/barrel

    November 24, 2013 7:55 AM 102

    November 24, 2013 by Odilim Basil Enwegbara The debate over the oil price benchmarking for the 2014 budget has become contentious to the extent that President Goodluck Jonathan has suspended, for the second time, the presentation of the 2014 Appropriation Bill to the National Assembly. The Minister of Finance, Dr. Ngozi Okonjo-Iweala, now is in a war of words

  • Legislative Bill Proposing International Financial Centre Unconstitutional – Fashola

    November 23, 2013 6:55 AM 32

    Lagos State Governor, Mr Babatunde Fashola (SAN) has described the proposed “Nigerian Financial Centre Bill, 2011” before the National Assembly as an act of over legislation that is very clearly in defiance and in conflict with the Nigerian Constitution. The Governor, who spoke with newsmen after the 10th Executive/ Legislative Parley with the theme

  • Jumia To Boost Sales By 20 Percent In Nigeria

    November 23, 2013 6:52 AM 47

    Nigeria’s leading online retail company, Jumia, plans to increase its local sales from 20 to 40 per cent as the Yuletide season approaches. The company says it is eager to win more sales from Nigeria’s crude oil-driven economy, which is expected to grow more than 6 per cent this year and 7 per cent in 2014. Co-founder of Jumia, Tunde Kehinde, said it is important

  • Amosun leads team to Indonesia, seeks direct investment for Ogun

    November 22, 2013 3:57 PM 31

    The Ogun State Governor, Ibikunle Amosun, and some members of his executive council are now in Indonesia to participate in a week-long discussion with investors and top government officials in Surabaya, one of the provinces of the South-Asian country. The team, comprising of the Commissioners of Works and Infrastructure, Budget and Planning, Culture