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CHAIRMAN of Funduk Industries Limited, Professor Dupe Olatunbosun, has said that the prevailing high lending rates by the nation’s commercial banks were squeezing life out of already ailing industries, adding that the Federal Government and the monetary authorities should work fast to reduce the rates.

THE International Energy Agency has said that Nigeria is losing about $7 billion annually to oil theft.

The preferred bidders for the 17 successor firms of the Power Holding  Company of Nigeria (PHCN) are expected to take control of the firms between June and July next year, according to the Bureau of Public Enterprises (BPE).