NCC: Porting activities increase by 2,321 in Feb

  The Nigerian Communications Commission (NCC) says porting activities within telecommunications service providers increased by 2,321 in February. NCC’s online report of “Incoming and Outgoing Porting Activities of Mobile Network Operators” for February disclosed this on Tuesday in Lagos. It said that by this increase, subscribers porting within the network had reached 21,831 from the 19,510 recorded in January. It said that out of the 21,831 porting activities in February, 10,771 were “incoming porting activities”, while 11,060 were “outgoing activities”. The report revealed that in the outgoing table, 4,003 subscribers…

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CBN reviews BDC rates down to N360/$

The Central Bank of Nigeria (CBN) has reviewed down the rate at which it was selling dollars to Bureau De Change (BDC) operators nationwide. Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), told the News Agency of Nigeria (NAN) in Lagos on Tuesday that the buying rate for BDCs would now be N350 and would sell at N360 to the dollar. NAN reports that before now, BDCs were buying dollars from the CBN at a forward rate of N381 to the dollar and selling at…

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FRSC moves to curb tipper recklessness in Anambra, impounds 60 vehicles

The Federal Road Safety Commission (FRSC) impounded 60 vehicles during a two-day special patrol in Anambra last week, Mr Sunday Ajayi, the Sector Commander, has said. Ajayi told the News Agency of Nigeria (NAN) in Awka on Monday that the special intervention patrol was part of the command’s effort to sanitise Anambra roads. He said that the measure became imperative due to the recklessness of tipper drivers which had caused numerous accidents with attendant loss of life and property. “We had a two-day special intervention patrol on tipper lorry operators…

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NARICT to set up tomato processing plants in northern states – Ag. D-G

The National Research Institute for Chemical Technology (NARICT) says plans are underway to establish tomato processing plants in the northern part of the country. Prof. Mohammed Kabir-Yakubu, the Acting Director-General of the institute, said this on Monday in Zaria, Kaduna State, while interacting with newsmen on the recent achievements of the institute. He said: “What we want to do in NARICT is to help government set up small tomato processing plants across Northern Nigeria because we lack the processing technology. “Those who process tomato in Nigeria have to import tomato…

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Ebonyi NLC hopeful of peaceful resolution of contributory pension issues

Mr Leo Nkah, the Acting Chairman, Nigeria Labour Congress (NLC) Ebonyi Chapter, says Gov. Dave Umahi has promised to ensure smooth resolution of issues concerning the newly introduced Contributory Pension Scheme. Nkah, who spoke in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja, said that the governor gave the assurance when the new NLC leadership paid him a courtesy visit. NAN recalls that deductions were made from workers’ salaries following the passage of the Law on Contributory Pension by the Ebonyi House of Assembly. He…

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American Airlines buys stake in China Southern Airlines

  American Airlines has agreed to pay $200 million for a stake in China Southern Airlines, one of China’s three major state-owned carriers, in a bid for a bigger share of the country’s growing travel market. China Southern will expand commercial cooperation, possibly in sales, airport facilities and code-sharing, the airline said in an announcement Tuesday through the Hong Kong stock exchange. The deal represents 2.76 percent of China Southern’s shares and requires regulatory approval, the airline said. Foreign carriers are forging steadily closer ties with Chinese airlines to gain…

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$280m solar projects: Investors mull 70% debt-financing

Seventy per cent of financing for $280 million solar power projects in Nigeria will be executed through debt. GreenWish Partners, a Paris- based independent power producer stated this. The company, according to its prospectus, is expected to start producing electricity in the first quarter of next year. Chief Executive Officer of the company, Charlotte Aubin- Kalaidjian, had earlier said that a plant in the southeastern state of Enugu would produce 100 megawatts, while the company will build two others of 50 megawatts each in the northern Kaduna and Jigawa states….

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Construction experts eye N174bn road projects

To navigate through the ongoing recession, construction professionals are targeting critical road projects by the Federal Government worth N174 billion, New Telegraph has learnt. Some of the projects are contained in the 2017 appropriation bill, in which about 25 major roads, including drainage works and canal, are meant to be built or rehabilitated. Managing Partner, JIMS Partnership, Mr. Olujide Oke, said the massive projects have presented veritable opportunities for consultants such as civil engineers, builders, project managers and general contractors to key in for business. Some of the critical road…

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Fuel price hike through back door?

Many Nigerians pay more than N145 per litre official price for premium motor spirit (PMS) also known as petrol. Adeola Yusuf reports how the Federal Government’s hide-and-seek game on full deregulation brought price hike in through the back door.     The National Bureau of Statistics (NBS), in its latest petroleum products price watch for last February did not only show disparity in prices of petrol across the states, it also revealed how the question: “How much is petrol sold in Nigeria?” is difficult to answer. Yobe, a state in…

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How Total, Chevron’s pull out grounds $12m project

The withdrawal of Total, Chevron and Addax has grounded exploration activities for over 500 million barrels of crude oil reserves stranded in the Nigeria – São Tomé and Príncipe Joint Development Zone (JDZ) project. Over the years, the venture has proved to be a drainpipe, as it said to be running a hefty yearly budget of $12 million. While Total pulled out from Block 1 in August 2013, previously abandoned by Chevron in 2010, another oil company, after drilling two new wells in 2013, announced in July 2013 that the…

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