All posts by Afolabi Ogunde

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  Schneider Electric installs 500 transformers in Ogun

  Schneider Electric, a global specialist in energy management, has delivered 500 transformers to the government of Ogun State, in fulfillment of the terms of its sales contract signed with the government. The transformers, which cost over N700million...

  • Posted May 29, 2012
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  Manufacturers spend N72.6 billion yearly on diesel to power ‘gensets’

  MEMBERS of the Manufacturers Association of Nigeria (MAN) have been spending over N72. 6 billion yearly on Automotive Gas Oil (AGO), otherwise known as diesel, to power their respective generating sets, sequel to the lingering power supply...

  • Posted May 29, 2012
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  Skye Bank Launches MoneyGram Transfer Service in Lagos

  Skye Bank launched its MoneyGram Transfer Service in Lagos yesterday, joining the 11 other banks that currently provide this service. Speaking at the event, the Managing Director of Skye, Mr. Kehinde Durosinmi-Etti said the bank would work...

  • Posted May 29, 2012
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  Remove Subsidy Now – NNPC tells Jonathan

  The Nigerian National Petroleum Corporation (NNPC) has called on the President to remove the entire fuel subsidy in order to fully deregulate the petroleum industry in the country. The General Manager of the NNPC, Levi Ajuonuma told...

  • Posted May 29, 2012
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  Sanusi, Ciroma, Others Voice Opposition to CBN Act Ammendment

  Several former officials of the Central Bank of Nigeria (CBN) have expressed their opposition to lawmakers plans to tamper with the autonomy of the apex financial institution. Former minister of Finance, Dr. Adamu Ciroma; pioneer director Alhaji...

  • Posted May 29, 2012
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  Petroleum Industry Bill to outlaw gas flaring by end of 2012

  Nigeria’s newly drafted oil bill, which is now close to being finalised, mandates that oil firms must stop flaring gas by the end of this year, and that if they don’t they can be fined. Africa’s top...

  • Posted May 28, 2012
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  Fidelity Bank’s Q1 2012 Earnings Hit N 22 billion, Net Income up 48%

  Fidelity Bank, one of Nigeria’s mid-sized banks reported its first quarter earnings to the Nigerian Stock Exchange today. Gross Earnings improved by 43% to N 22.4 billion from N 15.7 billion recorded in Q1, 2011. Interest Income...

  • Posted May 28, 2012
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  Oando to acquire 40 per cent stake in Qua Iboe oilfield

  OANDO Exploration and Production Limited (OEPL), a subsidiary of Oando Plc, with 13 exploration and production assets, has sealed a farm-in agreement with Network Exploration & Production Nigeria Limited (NEPN) for the acquisition of 40 per cent...

  • Posted May 28, 2012
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  “Break NNPC…We will Support You” – Rotimi Amaechi

  The Chairman of the Nigerian Governors Forum, Rotimi Amaechi has called for the dismantling of the oil behemoth – NNPC. Speaking at a retreat organized by the House of Representatives Committee on Constitution Review last weekend, the...

  • Posted May 28, 2012
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  N 155 billion Oil Block Scam: We merely acted as Facilitators – FG

  After remaining silent for nearly a week as more and more shocking revelations surfaced in the Nigerian media, the Federal Government has finally issued a statement on the N 155 billion oil block scam. In a statement...

  • Posted May 28, 2012
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