All posts by Afolabi Ogunde

• 
  Nestle to Spend $ 92 million on Nigeria Expansion, Sell More Maggi, Milo and Golden Morn

  Nestle Nigeria has announced plans to spend $92 million to boost its output in Africa’s biggest consumer market. According to Nestle CEO, Martin Woolnough, ““We’ve got a lot of money going into the country and that will...

  • Posted February 29, 2012
  • 1
• 
  Nigeria Needs Pause in Interest Rate Tightening, IMF Says

  The International Monetary Fund said a pause is “warranted” after Nigeria’s central bank raised its benchmark rate by 6 percentage points since 2010 to combat price pressures. A “clear” inflation objective will help to anchor expectations in Africa’s top oil producer, the...

  • Posted February 29, 2012
  • 0
• 
  Amosun Set to Convene Inaugural Investors’ Forum

  The Ogun State Government will hold the inaugural edition of Ogun State Investors’ Forum, with the theme: “Ogun State: Open for Business”on March 27 – 28, 2012 at DLK Event Centre, Abeokuta.   One of the Forum’s...

  • Posted February 29, 2012
  • 2
• 
  Nigerian Stock Exchange Watch: Market Cap Sheds N72 Billion

  The market fell for the second consecutive day due to the activities of profit-takers, compounded with huge losses in blue chip, highly capitalized stocks such as Nigerian Breweries (-4.99%) and First Bank (-5%). The All Share Index...

  • Posted February 28, 2012
  • 0
• 
  FG awards over $2.5bn contracts for gas pipelines

  The Federal Government has awarded over $2.5bn contracts for various gas pipeline projects in the country. This is in line with its policy on gas monetisation, as laid out in the Gas Master Plan, GMP. The Executive...

  • Posted February 28, 2012
  • 1
• 
  FG Pledges $15 Million to IFAD, Plans to Increase Agric Output to $ 300 Billion

  The Federal Government plans to boost the impact of agriculture on the Nigerian economy three-fold from the present $ 99 billion to $ 300 billion by the year 2030. Minister of Agriculture and Rural Development, Akinwumi Adesina,...

  • Posted February 28, 2012
  • 0
• 
  SURE Programme still Operational – Reuben Abati

  Presidential spokesman Reuben Abati has released a strongly worded statement in order to clear the air on the purported truncation of the Subsidy Reinvestment and Empowerment (SURE) programme. Recent reports had alleged that the President had disclosed...

  • Posted February 28, 2012
  • 0
• 
  NNPC, Mobil Source $ 1.5 Billion Loan from Offshore and Local Banks

  The Nigerian National Petroleum Corporation (NNPC) and Mobil, join-venture partners in oil mining assets, are tapping local and international markets for financing of $ 1.5 billion in order to fund drilling activities. Some international and local lenders...

  • Posted February 28, 2012
  • 1
• 
  Nigerian Stock Exchange Watch: Profit takers Rule the Day

  The market succumbed to profit takers today, the All Share Index dropped by 0.64% to 20,364.56. Investors were eager to harvest their profits made from gains on banking, consumer and Insurance stocks. First Bank (-4.07%), Union Bank...

  • Posted February 27, 2012
  • 0
• 
  Ibori Pleads Guilty to Money Laundering, Faces 10 Years Imprisonment

  James Ibori, former governor of Delta State, and godfather of present Delta state governor, Emmanuel Uduaghan who seconds as his cousin, has pleaded guilty to multiple count of money laundering and intention to defraud, in a British...

  • Posted February 27, 2012
  • 0