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    Rice Investors Laud FG’s Import Quota Policy

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    The Nigerian Rice Investors’ Group has lauded the import quota allocation given to rice investors in the country as a step in the right direction. The group, which addressed the press in Abuja, yesterday, said that the rice import quota policy of the federal government was geared towards self-sufficiency in rice production in the country….

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    Niger Delta Oil Spills: Shell Pays Out £55m

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    Dutch Oil Giant, Shell has paid a compensation of £55million to a community devastated by oil spills in the Niger Delta, said a press release signed by Amnesty International and the Center for Environment, Human Rights and Development (CEHRD). “Six years after two oil spills destroyed thousands of livelihoods in the Bodo area, legal action…

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    Forbes Names Okonjo-Iweala Among Unsung Leaders of 2014

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    Forbes, the magazine provides “information for the World’s Business Leaders” has named Nigeria’s Minister of Finance and Coordinator of the Economy, Dr. Ngozi Okonjo-Iweala among five unsung leaders of 2014. The five leaders include Okonjo-Iweala, Cardinal Pietro Parolin, Vatican Secretary of State; Arati Prabhakar, director of the U.S. Department of Defense’s DARPA; HRH Prince Feisal…

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    Oil Prices: We Shall Diversify Economy In 2015 – Jonathan

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    President Goodluck Jonathan has hinted at the diversification of the Nigerian economy in 2015 in his New Year speech, yesterday. “Being very conscious of the inherent perils of our over-reliance on income from crude oil exports for national development, we have focused on accelerating the diversification of our economy,” the president said in his speech….

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    ‘Drop In Oil Price, Chance To End Fuel Subsidy’

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    The tumbling price of oil that has slashed Nigeria’s revenue and shaken currency and stock markets presents Nigeria with an opportunity to discontinue fuel subsidies that amount to $7billion annually, reports Bloomberg. However, some analysts say that President Goodluck Jonathan may not explore such option with elections in view in February. “Politics often trumps prudence…

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    ‘Nigeria Lost $7.92bn To Corruption In One Year’

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    A total of $7.92billion in illicit capital flowed of out Nigeria in 2012, according to the latest report released by the US-based non-profit research and advisory organisation, Global Financial Integrity (GFI). For the year 2012, only Nigeria and South Africa are the two African countries ranked in the top 20 countries for illicit financial outflows….

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    Oil Price Rises After Hitting 5-year Low

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    Brent crude oil rose yesterday to above $71 a barrel, recovering from a five-year low it hit earlier as investors looked for a price floor after last week’s OPEC decision not to cut production, reported Reuters. According to Reuters, Brent hit a low of $67.53 a barrel, the lowest since October 2009, before rising 85…

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    Declare 2016 African Year Of Artisanal Fisheries, Fishermen Charge AU

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    African fishermen under the aegis of African Confederation of Artisanal Fisheries Professional Organizations (CAOPA) have urged the African Union to declare 2016 African Year of Artisanal Fisheries. “We also call on our Governments to propose to the African Union that it established 2016 as the African Year of Artisanal Fisheries,” said CAOPA. The fishermen who…

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    No Budgetary Allocation For FG’s N9.2bn Stoves

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    Indications have emerged that the planned spending of N9.2 billion by the federal government on procurement of clean cooking stoves for rural women may be extra budgetary. Checks by LEADERSHIP Weekend through the 2014 approved budget could not find any sub-head representing the National Clean Cooking Scheme under which the funds are to be expended….

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