GE Emerges Sole Bidder for $2bn Nigerian Rail Concession
A consortium led by General Electric (GE) has submitted the only bid for a Nigerian railway concession project worth around $2 billion for two lines connecting northern cities to others in the south, a procurement process adviser said on Wednesday . . .
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UBA Grows Profit Before Tax By 32%, Declares 55kobo Per Share Dividend
United Bank for Africa (UBA) Plc, the pan-African financial services group, operating in 19 African countries, has released its audited 2016 full year results, showing significant growth in gross earnings and profits, an attestation to its resilience, enhanced productivity and geographic diversification, evident in the impressive contribution from its African subsidiaries . . .
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With a total market capitalisation of N5.65 trillion, Dangote Cement, Nigerian Breweries, Guaranty Trust Bank, Nestle and Zenith Bank made up 64.02 per cent of equities quoted on the Nigerian Stock Exchange (NSE) . . .
Continue reading “MARKET CAPITALISATION: Dangote Cement, Zenith, GTBank & 2 Others Own 64% Of Equities On NSE”
NNPC, Schlumberger collaborate on frontier exploration
World’s (French owned) largest oilfield services and equipment company teams up with Nigerian national oil giant on frontier hydrocarbon deposits search in the Chad basin.
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FOREX: $1 Goes For N500
Efforts To Save The Naira Have Crumbled – IMF
Abuja & Lagos (New Telegraph) – The naira fell close to N500 against the dollar on the parallel market due to dollar shortages yesterday as Bureaux De Change (BDC) operators set their quotes for dollar purchases at N399/$ for next week, traders said . . .
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NNPC targets fuel import cut
Abuja (Daily Times) — The Nigerian National Petroleum Corporation (NNPC) has commenced moves to reduce fuel import by boosting the capacity utilization of the refineries to 60 per cent by the end of 2017 . . .
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ExxonMobil, Tillerson Reach Agreement to Comply with Conflict of Interest Requirements
Irving, Texas U.S. (ThisDay) – ExxonMobil Corporation, represented by its board of directors, has reached an agreement with a former chairman and chief executive officer of the company, Rex W. Tillerson, to sever all ties with the company to comply with conflict-of-interest requirements associated with his nomination as US Secretary of State . . .
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SEC summons six directors over complaints on N300m investors’ funds
Lagos (Vanguard) — THE Securities and Exchange Commission, SEC, yesterday, directed six directors of Transglobe Investment & Finance Company Limited to appear before it for an alleged unresolved complaints by investors worth more than N300 million against the company . . .
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Power generation hits almost 4,000 megawatts
(SO) Website (NAN) – Transmission Company of Nigeria (TCN) on Wednesday wheeled out about 3,959 megawatts of generated electricity to the 11 distribution companies as the country’s power supply gradually stabilized . . .
Continue reading “Power Supply In Nigeria Stabilizes As TCM Generates 3,959 Megawatts”
Roaming policy may stall telecoms’ growth
Abuja (New Telegraph) — Plans by the Nigerian Communications Commission to implement national roaming service this year may stagnate further growth of the $68 billion investment already recorded in the nation’s telecommunications sector, New Telegraph has gathered . . .
Continue reading “Roaming Policy May Stagnate Telecom Growth In Nigeria”