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All posts by Afolabi Ogunde

  • NPA to Build Dedicated Electricity Power Plant

    The Nigerian Ports Authority (NPA) has revealed that it will construct an electricity generation plant to tackle the incessant electricity outages at the port. Managing Director of the NPA, Omar Suleiman, stated that the electricity plant would...

    • Posted May 2, 2012
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  • Boko Haram: Regional force ‘should help Nigeria’ – Chadian President

    Chad’s leader has called for the urgent creation of a regional force to tackle Nigerian Boko Haram militants. The Islamist group operates in northern Nigeria, but President Idriss Deby said it was posing a threat to its...

    • Posted May 1, 2012
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  • Saraki Hires Busloads of Supporters as Role in N 9.76 billion Scam Investigaton Commences

    One time Presidential Aspirant and serving Senator from Kwara State, Bukola Saraki has finally reported to the Special Frauds Unit headquarters in Abuja to answer to the allegations of vast fraud he has been implicated in. The...

    • Posted May 1, 2012
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  • Banking recovery lures funds back to Nigeria stocks

    Signs of a sharp recovery in bank earnings for the first quarter are drawing investors to Nigerian shares after several years of turbulence in local stock markets following a 2008 banking crisis that wiped 60 percent off their value....

    • Posted May 1, 2012
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  • Aig-Imoukhuede to quit as Access Bank CEO in 2013

    The Managing Director of Access Bank Plc, Mr. Aigboje Aig-Imoukhuede, said he will quit as helmsman of the bank before December 31, 2013. Speaking at the Annual General Meeting of the bank in Lagos, Aig-Imoukhuede said his...

    • Posted May 1, 2012
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  • ‘OnlyN1.5bn has been spent on SIM registration’

    The Nigerian Communications Commission has said that contrary to insinuations that the N6.1bn Subscriber Identification Module card registration budget has been mismanaged, it has so far spent only 15 per cent of the amount. The Executive Vice...

    • Posted May 1, 2012
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  • Nnaji Explains Reasons for Power Disruption in Lagos, Unveils Customer Service Website

    The minister for Power, Barth Nnaji, has blamed inadequate gas supply, and seasonal water shortages as some of the reasons why there has been a significant drop in power supply in Lagos and other parts of the...

    • Posted May 1, 2012
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  • Lawmakers to Probe Upstream Petroleum Sector

    Having concluded the fuel subsidy probe successfully, the members of the House of Representatives have indicated that they will begin to focus on other aspects of corruption and mismanagement in the petroleum sector in Nigeria. The initiative...

    • Posted May 1, 2012
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  • Nestle’s Q1 Earnings: Net Income Skyrockets 140%

    Milo hot chocolate beverage maker, Nestle has released its Q1 earnings on the floor of the exchange. It reported a growth of 41% in headline revenue, up to N 29 billion from N 20.4 billion over the...

    • Posted April 30, 2012
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  • Starcomms Reports N 17 billion Loss in 2011 Audited Earnings

    CDMA fixed-line operator, Starcomms just can’t seem to get it right. The company declared a revenue of N 20.2 billion in its 2011 audited FYE reports, down 31% from the N 29 billion it made in 2010....

    • Posted April 30, 2012
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