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Local Business

Kachikwu negotiates $15b advance payment for crude oil deal with India

The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, on Monday in India, negotiated a USD 15 billion investment with terms to be agreed, where the Indian Government would make an upfront payment for Crude purchase to Nigeria, to be repaid on the basis of firm Term Crude Contracts over some years and in consideration for Indian public …

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Finance Minister accuses western powers of blocking Nigeria’s effort to generate power from coal

The Minister of Finance, Mrs Kemi Adeosun, has accused western powers of being a stumbling block to Nigeria’s plan to improve power output through the use of coal. Adeosun said this on Wednesday in Washington during a discussion on the importance of addressing infrastructure gaps in developing countries at the World Bank, International Monetary Fund General Meetings.

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Militants blow up another pipeline in Delta

UGHELLI-A militant group, Niger Delta Greenland Justice Mandate, NDGJM, in the early hours of Tuesday, blew up the Afiesere-Iwhrenene major delivery line to UPS/UQCC, operated by Nigeria Petroleum Development Company, NDPC/Shorelines Petroleum in Ughelli North Local Government Area of Delta State. The attack confirmed by a leader of the group, self-styled Gen. Aldo Agbalaja, came as the Niger Delta Avengers, …

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WorldRemit commends Restoration of Money Transfers to Nigeria

—–Nigerian diaspora to benefit from increased competition in remittance market WorldRemit (www.WorldRemit.com/en/Nigeria), the leading digital remittance service, commends the restoration of money transfers to Nigeria, following the decision of the Central Bank of Nigeria (CBN) to approve WorldRemit and ten other international money transfer operators (IMTOs).

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SMEs: Avoid banks, Seek Angel investors for funding – Expert warns

Budding entrepreneurs who attended the first edition of the Nigerian Small Business Summit on the 24th August at the Landmark event centre were warned to stay away from bank loans at the start of their businesses. Mr. Kushal Dutta, Managing Director of Africa’s number one hotel booking portal Jumia Travel Nigeria, gave the warning during a panel discussion on the …

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Top 5 ways the current economic crisis is affecting Nigerians

It is no secret that the Nigerian economy is in crisis. In the last six months, the official Nigerian currency, Naira, has fallen by almost 50% and there has been an increasing change in the price of goods and services. With pay increases lagging behind and the inflation soaring, the wallet of most Nigerians continue to take a beating as …

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