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How FG lost N1.1tn via waivers, undue tax holidays for oil firms in 2014—NEITI

The principal watchdog in the nation’s oil and gas sector, Nigerian Extractive Industries Transparency Initiative (NEITI) has given tips on how the federal government bled away $2.1 billion (N1.1 trillion) in 2014. According to the graphic details, NEITI said by granting Pioneer Status, the Federal Government has waived $2.1 billion (N1.1 trillion) to 22 oil companies through tax holiday as ...

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FG continues to pay first N30, 000 stipends to N-POWER beneficiaries today

Udoma, Buhari, Adeosun

Being the first working day of 2017, the Federal Government will continue the payment of the N30, 000 monthly stipends for beneficiaries of the N-Power scheme -the job creation programme of the government. The N-Power programme is designed to engage the teeming and massive numbers of unemployed Nigerian graduates from tertiary institutions across the country. Senior Special Assistant, Media and ...

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Galloping price of palm oil may flood fake in Nigerian market if…

In the last few months, Business Hilights research team has observed jumping trend in the price of palm oil across the country. Findings early in the week show that the price of one bottle of 75cl now hovers around N750 as against N250 earlier last year. Also, a bottle of 1.5l, now goes for as high as N1,500 and many ...

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Edelman, Nigeria’s Chain Reactions seals exclusive affiliate deal

Leading global communications marketing firm, has signed on Nigerian top PR firms, Chain Reactions as its exclusive affiliate in the country. The new deal is coming on an initial one-year strategic partnership which will further expands Edelman’s existing operation outside its South African office, located in Johannesburg. Robert Holdheim, CEO, Edelman South Asia, Middle East & Africa said “Our decision ...

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Dogara, experts expect review of power privatization in 2017 over failures

Yakubu Dogara

More voices have continued to query the silence of the federal government in taking a critical look at the privatization of power sector considering the back-and-forth of power supply and lately the reasons behind the floating of N309bn bond for the investors. Latest call came from the Speaker of the Federal House of Representatives, Barr Yakubu Dogara who spoke during ...

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Power generation looking up even in dry season, hits 4,000MW

fashola switches op transmiter

Unlike previous years when power used to drop during dry season due to reduction in water levels at the dams, statistics from the Nigeria Electricity Regulatory Commission (NERC) has shown that after being unstable at 3,000 megawatts for about 10 weeks, the country’s total generated power crossed the 4,100MW mark in the last one week. It would be recalled that ...

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Dangote, CNN extend multi-year deal focusing on energy

Dangote group

Leading manufacturing conglomerate, Dangote Group has sealed fresh investment deal with Cable News network (CNN) that will focus on energy in 2017 amongst other stables. It would be recalled that the Africa’s Energy Surge reports air daily in flagship CNN International shows, The CNNMoney View with Nina Dos Santos and the World Right Now with Hala Gorani, culminating in a ...

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New gas flaring policy defective, encourages flares—Zaka

Ibe Kachikwu

Leading energy analyst and Petroleum Engineer, Mr. Bala Zaka has argued that the newly released National Gas Policy is good in some areas but very defective in pricing sanctions bordering on unallowable gas flares. It would be recalled that the country lost at least N94bn in four months as oil and gas companies flared a total of 87.03 billion standard ...

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Afam Power, Eko Disco fall under NERC hammer over breaches

nerc logo

The management of Nigerian Electricity Regulatory Commission (NERC) has sanctioned two mega power groups over cases of regulatory breaches and observed infractions. Relying on their failures to submit audited financial reports for 2013 and 2014, NERC has fined Afam Power Plc and the Eko Electricity Distribution Company about N66.6m. Details sighted at NERC showed that Afam Power breached its Directive ...

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Why Ibori may head back to Dubai instead of returning home

There are apparent signals that the recently freed former governor of Delta State, Chief James Onanefe Ibori may not be home so soon. Reason, being that he may proceed to Dubai to finish the business he was pursuing before he was arrested and extradited to London where he was tried and jailed for 13 years in 2012 which ran concurrently ...

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