Delta Community Issues 3 Months Ultimatum To BEDC To Provide Prepaid Meters, Constant Light Or Quit The Land

UGHELLI Decendant Union, UDU, has issued a 3-month ultimatum to Benin Electricity Distribution Company, BEDC, operating in Ughelli, Delta State, to provide prepaid meters to every house in the kingdom and must ensure that within this period electricity supply is contant or it should be ready to quit the kingdom for other investors to come in. According to UDU, that Transcop Power company has enough of energy but BEDC refused to buy in other to generate light for the use of the people and yet they go about giving people…

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Okowa commends Quincent Over Multi-million Naira Shopping Mall In Delta

 Delta State Governor, Senator Ifeanyi Okowa has commended the Chief Executive Officer, Building World Global Investment Limited, Pastor Irame Emmanuel, popularly called Mr. Quiscent for initiating and completing it’s multimillion naira shopping mall in Ughelli, ‘Shopfair Nigeria.’   Okowa said, while commissioning the project during the weekend, that it will assist the government is reducing unemployment which was one of the major challenges confronting the nation at the moment, adding that it will take such mega investments from private individuals and corporate bodies to expand the opportunities for job…

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You are a failure to Edo people, Nigerians as Gov Obaseki walks out BEDC boss out of his office

Obaseki walks BEDC MD out of his office for throwing state into darkness …tells House of Reps that Edo doesn’t want a ‘failed, unserious’ DISCO There was mild drama at the office of the Edo State Governor, Mr. Godwin Obaseki, on Tuesday, as the governor walked the Managing Director (MD) of the Benin Electricity Distribution Company (BEDC), Mrs. Funke Osibodu, out of his office for failing to meet obligations to electricity consumers in Edo and throwing the state into darkness for weeks. This happened when the governor received members of…

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Nigerian Institute of Management Day: Deficit spending is what kills businesses- Karmah

By Joel Grandball & Omamuzo Efidhere,   Resource person at the Nigerian Institute of Management day lecture, Emmanuel Karmah has stated that deficit spending is what kills most businesses in Nigeria, charging them not spend more than what they make.   “It is all about embracing and applying modern technology and be customer friendly and know the nature of the type of business they would want to engaged themselves with if they want to thrive and be successful.   Speaking on the occasion to mark ‘Annual Management Day Lecture’ by…

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African infrastructure rises by 22%

The Infrastructure Consortium for Africa (ICA) has unveiled the 2017 infrastructure development in Africa which it said rose by 22 per cent. It published the outlook on the first day of the Africa Investment Forum, holding in South Africa. The ICA’s Infrastructure Financing Trends in Africa 2017 report shows that commitments to develop Africa’s infrastructure increased to $81.6 billion in 2017 from US$66.9 billion in 2016. The 2017 figure is the highest reported since 2010, and the ICA’s research shows that the main factors behind the growth include a $13…

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Toshiba slashes jobs, downgrades profit outlook

The boss of struggling Toshiba said Thursday he would cut 7,000 jobs over the next five years as the Japanese engineering firm pulled out of foreign investments and downgraded its annual profit forecasts. “Over the next five years, we expect a reduction of 7,000 jobs,” many coming from early retirement, CEO Nobuaki Kurumatani told reporters in Tokyo. In addition, efficiency gains from improved IT and the planned retirement of about 3,000 employees every year will contribute to the job cuts, he said. Toshiba also expects to scrap or consolidate some…

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Russia set to dump US dollar for FOREX

Russia is intensifying efforts to wean its economy off the US dollar as Washington considers tough new sanctions that could deny it access to foreign debt markets and cut its banks from the greenback. President Vladimir Putin has repeatedly slammed the US currency dominance on the world’s stage but the country’s previous efforts to de-dollarise its economy have so far had little success. But with Russian business circles fearing a new round of US measures over Moscow’s alleged international aggression and Washington’s trade policies becoming ever more unpredictable, authorities have…

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Oil rises as US renew sanctions against Iran

Oil prices rose on Tuesday as the U.S. reintroduced sanctions against major crude exporter, Iran, tightening global markets. Meanwhile, heatwave across Europe and other areas pushes oil up. Sweet Brent crude oil futures were at 74.08 dollars per barrel. U.S. West Texas Intermediate (WTI) crude futures were up at 69.21 dollars a barrel. The U.S. sanctions against Iran, which shipped out almost three million barrels per day (bpd) of crude in July, officially came into effect at 12.01 a.m. U.S. Eastern time (04.01 GMT) on Tuesday. Many countries, including U.S.…

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China’s economy slows down in Q2

Chinese growth slowed slightly in the second quarter as the world’s number two economy faced a snowballing trade fight with the United States. The economy expanded by 6.7 percent in April-June, down from 6.8 percent in the first quarter and in line with a 6.7 percent rate tipped in an AFP survey of economists. Despite the quarterly deceleration, growth was still higher than the annual target of around 6.5 percent set by the government. China faced an “extremely complex environment both at home and abroad”, said Mao Shengyong, a spokesman…

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NNPC under-remittance halts FAAC meeting

The Chairman, Commissioners of Finance Forum, Mr Mahmood Yunusa on Thursday said the Federation Accounts Allocation Committee (FAAC) has agreed to suspend meetings indefinitely until an effective revenue collection process is implemented. Yunusa said this in Abuja after the monthly FAAC meeting ended in a stalemate for the third consecutive time in one month. He said that the Committee was tired of battling with the Nigerian National Petroleum Corporation (NNPC) over oil revenue collections. The chairman said that the Committee had already taken the matter to President Muhammadu Buhari, adding…

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