Business

Benin Disco pledges improved power service

The Chairman, Benin Electricity Distribution Company (BEDC), Victor Gbolade Osibondu, assured residents of quality and improved services delivery. He disclosed this during a courtesy visit to the Benin Monarch, His Royal Majesty, Oba Erediauwa, in Benin City. Osibondu described Benin distribution company (Disco) as one of the “luckiest” Discos in the country saying its location had a lot of favorable ...

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Fibi: More Bites,More Excitements

Fibi beef sausage roll, from the stable of Rapido Foods was introduced into the Nigeria market in October 2012 and has since carved a niche for itself as being the only beef sausage roll spiced with ingredient sourced locally. Hygienically prepared, with strict quality control measures taken into consideration, Fibi is set to take over the Nigerian Sausage roll market. ...

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Ghana opening 2-Year bonds to Foreigners, plans 10-year sale

Ghana is set to open auctions of two-year bonds to foreign buyers, seeking to draw more offshore funds for its budget as the West African nation makes plans to offer longer-dated cedi-denominated notes. Foreigners are currently allowed to only buy domestic bonds with terms of three years and higher. “Our objective now is to try to do more medium- to ...

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Pepperoni Foods set for nationwide expansion

Pepperoni foods, one of the leading fast food companies in Nigeria is set to expand its tentacles across the country. With the opening of its seventh service outlet, Pepperoni Foods Limited is set for its nationwide expansion plan which started eight years ago in Port Harcourt. Speaking recently at the opening of the Ada George Road outlet in Port Harcourt, ...

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Lagos Assembly passes N489.69 billion budget for 2014 fiscal

The Lagos State House of Assembly has approved the sum of N489.69billion as the amount to be spent by the state government during the 2014 fiscal year. The amount is 3.43 percent lower than the 2013 budget. The budget will accommodate the sum of N234.66billion is for recurrent expenditure while N255.03billion is budgeted for capital expenditure. The Assembly, presided over ...

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Strike could paralyse power sector

The country’s epileptic power supply could worsen if workers in the sector go on strike. The National Union of Electricity Employees (NUEE) threatened to embark on industrial action next week alleging government was “violating worker’s rights.” Addressing journalists in Lagos, NUEE General Secretary, Comrade Joe Ajaero, said the workers will barricade all electricity installations across the country until their pension ...

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SEC orders Ecobank Transitional Corporation to convene EGM

The Securities and Exchange Commission (SEC) has directed Ecobank Transitional Corporation (ETI) to organize an Extra Ordinary General Meeting (EGM) before the end of February 2014. SEC said in a statement that the findings and recommendations of its corporate governance audit should be communicated to the shareholders at the meeting for their resolutions. It said that the gaps identified from ...

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JTF winning fight against oil theft, pipeline vandalism

The Joint Task Force (JTF) operating in the Niger Delta has said it was winning the fight against oil theft, pipeline vandalism and kidnapping among other crimes in the region. Maj.-Gen. Modibbo Alkali, the outgoing Commander of the 34 Artillery Brigade, Owerri, said this at the sideline of the inauguration of a four-classroom block and ICT centre in Elele, Rivers. ...

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Bayelsa demands more power amid criticism

Bayelsa State said criticism would not deter it from demanding additional transmission stations to enhance electricity supply in the state. State Commissioner for Energy, Francis Ikio and Special Adviser to the Governor on Power, Engineer Olice Kemenanabo, gave the administration’s position in a joint press statement issued Yenagoa. Reacting to reports in some sections of the media, the duo blasted ...

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Exchange rate: Naira remains firm against the dollar, pound sterling

The Nigerian currency, the Naira, on Friday traded on a stable platform against two major international currencies, the dollar and the pound sterling, as transactions ended for the week. The dollar and the pound sterling were sold at N155.72 and N170 respectively, at the official and bureau de change since January 6. At the black market, the Naira was exchanged ...

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