Candidate gives PDP conditions for senatorial rerun

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Budget office stresses continuity in projects

The Budget Office of the Federation has stressed the need for Ministries, Department and Agencies (MDAs) to continue ongoing projects rather than initiate new ones at the expense of the former. Bright Okogu, the Director-General of the Budget Office, said in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday that the principle formed the thrust…

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Uganda Central Bank intervention supports shilling

The Bank of Uganda said on Monday it was intervening in the foreign exchange market by selling hard currency, helping to push the shilling up to levels last seen nearly three weeks ago. The Ugandan shilling slid to 2,327/,331 per dollar on Monday before the central bank stopped selling an unspecified amount of hard currency. The rate reversed and the…

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Guinea seeks to double share in mining projects

Guinea plans to boost its stake in mining projects to at least a third, its newly elected president said, a move that could rattle some of the world’s biggest mining companies. Rio Tinto and RUSAL have multi-billion dollar bauxite operations in the West African state, while Vale, Chinalco and others have planned major investments in iron ore. “There will be…

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Morocco, South Africa in another bid contest

25 January 2011 South Africa and Morocco went head to head seven years ago for the right to stage the first World Cup in Africa and the former emerged 14-10 winners after a FIFA executive vote. After winning worldwide praise for their hosting of the 2010 World Cup won by Spain, South Africa have adjusted their sights toward the African…

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Shittu retains Oyo CPC guber ticket

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The national leadership of the Congress for Progressive Change (CPC) was in Ibadan, the state capital, on Monday, to formally endorse the candidacy of Adebayo Shittu as the flag bearer of the party for the 2011 governorship election in the state. The visit was predicated upon the crisis that rocked the party after two candidates emerged at two separate congresses…

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Akwa Ibom gubernatorial contestant wants court to stop Akpabio

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Mild drama as impeached Ondo Speaker, deputy resume

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A mild drama ensued yesterday at the Ondo State House of Assembly as the impeached speaker and his deputy, Taofik Abdulsalam and Mayowa Akinfolarin, met an empty parliamentary session when they resumed. The duo were sacked on April 8, 2010 and subsequently suspended for keeping assembly properties in their custody. The two lawmakers did not receive salary and emoluments throughout…

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Kenyan shilling strengthens against weak dollar

The Kenyan shilling rose slightly against a broadly weaker dollar on Monday, with traders forecasting that the local currency will come under pressure due to end-month corporate demand for dollars. At 08:11 GMT, leading commercial banks quoted the shilling at 80.90/81/10 compared with Friday’s close of 81.00/10. Traders said they expect particularly strong demand for dollars from the energy sector.…

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Oil and gas sector recovers, to boost growth

Nigeria’s export earnings is expected to maintain strong growth in 2011 as a result of an increase in the oil price, higher oil export volumes and the general recovery of the oil and gas sector. Experts reveal that the recovery of the sector which accounts for about 20 per cent of its Gross Domestic Product GDP, has in turn, boosted…

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