All posts by Afolabi Ogunde

• 
  Shell, Chevron oil licenses renewed by June | Renewal Comes before PIB

  Nigeria expects to renew onshore oil licenses with U.S. firm Chevron and Royal Dutch Shell by June, its oil minister said on Tuesday, following Exxon Mobil’s renewal in February worth trillions of dollars. Shell, the biggest operator...

  • Posted May 23, 2012
  • 0
• 
  Sanusi Says Nigeria’s Subsidy Must Be Transparent, Affordable

  Central Bank of Nigeria Governor Lamido Sanusi made the following comments after a meeting of the bank’s monetary policy committee in Abuja yesterday. On whether the nation’s fuel subsidy should be fully removed after it contributed to...

  • Posted May 23, 2012
  • 0
• 
  Boko Haram’s Displacement of Northern Farmers Affecting GDP Growth – Sanusi

  In a communique released from the Monetary Policy Committee (MPC) after its 83rd MPC meeting, Governor Sanusi blamed the terrorist activities of Boko Haram for affecting the agricultural output of the country and slowing down GDP growth....

  • Posted May 23, 2012
  • 0
• 
  FCMB Credit Ratings Score Slashed by S & P

  FCMB has had their credit ratings cut by international ratings agency Standard & Poor. S & P cited “a history of volatile loan losses which reached higher than anticipated levels in 2011” as a major reason for...

  • Posted May 23, 2012
  • 0
• 
  80 Million Nigerians have no Electricity – Survey

  Global Research firm TNS RMS has reported findings indicating over 80 million Nigerians do not have access to electricity supply. This revelation comes at a time the Federal Government has concluded plans to hike electricity tariff from...

  • Posted May 23, 2012
  • 0
• 
  Nigerian Stock Exchange Watch: Market YTD Performance Hits (+7.77%), First Bank (+2.83%) Carries ASI (+0.15%)

  The All Share Index gained 0.15% to close at 22,342.13 as the year-to-date performance of the bourse improved to 7.77%. The gainers outweighed to losers in the banking sub-sector today as key bank stocks including First Bank...

  • Posted May 22, 2012
  • 0
• 
  Oando FY 2011 Earnings Come in At =N= 586 Billion, Profit Plummets

  Oando, Nigeria’s leading indigenous Oil and Gas Company reported its audited 2011 Financial Statements to the Nigerian Stock Exchange (NSE) yesterday. Profitability metrics disappointed the company’s shareholders especially since no dividend was declared. The multinational company reported...

  • Posted May 22, 2012
  • 0
• 
  Gala Consumption Unlimited in Nigeria – Tiger Brands

  Apparently nobody knows just how many Gala are consumed in this country. In 2011, UAC Foods increased the factory capacity of Gala by 33% and still sold every single one it produced, surprising even the company management....

  • Posted May 22, 2012
  • 0
• 
  Federal and State Governments Fail to Reach Settlement on Sovereign Fund

  The Supreme Court has fixed September 25th as the day for the definitive hearing on the suit brought before it by the State governors challenging the legality of the Sovereign Wealth Fund account and the Excess Crude...

  • Posted May 22, 2012
  • 0
• 
  NLNG Earned $ 10 billion from Exports in 2011

  Nigeria Liquefied Natural Gas was able to earn $10 billion in revenues despite a tough operating market in 2011. Speaking during a recent visit to Bonny Island in Rivers State, former President Shonekan commended the efforts of...

  • Posted May 22, 2012
  • 0