All posts by Afolabi Ogunde

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  BP Said to Consider $14 Billion Spill Settlement

  BP Plc (BP/) and plaintiffs suing over the 2010 Gulf of Mexico oil spill are discussing a $14 billion accord that would be funded with money originally set aside by the company for out-of-court settlements, according to three...

  • Posted February 27, 2012
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  CBN sells N149.65bn T-bills, yields mixed

  The Central Bank of Nigeria has sold N149.65bn ($953.00m) worth of treasury bills with yields on the 182-day and 364-day papers lower than the previous auction, while the 91-day yields rose slightly. A statement by the CBN...

  • Posted February 27, 2012
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  Revoke BiCourtney’s Concession Nigerians Tell Government as Robbers Lay Siege to Lagos-Ibadan Expressway

  According to a Businessnews poll, over 57% of Nigerians believe that the Federal Government should revoke the concession awarded to Bicourtney for the Lagos-Ibadan Expressway. After several years of being awarded the contract, many Nigerians are of...

  • Posted February 27, 2012
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  Road Contractors Directed to Halt Usage of Kerosene

  Mike Onolememen, Minister of Works, in a bid to improve the quality of road construction in the country has called upon all contractors handling road projects to utilize bitumen emulsion instead of kerosene. The minister gave the...

  • Posted February 27, 2012
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  Lagos begins gas production from waste dumps

  Lagos State Government’s efforts to turn solid waste into wealth are paying off with the commencement of the Landfill Gas Recovery and Utilisation Project, AKINPELU DADA writes. Domestic waste, which used to pose a serious challenge to...

  • Posted February 27, 2012
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  FG to set Aside 20% Levy on Imported Textiles for Development of Local Industry – Aganga

  The Minister for Trade and Investment, Segun Aganga has disclosed that the Federal Government plans to set aside the 20% levy on imported textiles for the development of the indigenous textiles industry in Nigeria. Speaking during discussion...

  • Posted February 27, 2012
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  Caverton Helicopters Secures Multi-Billion 5 Year Contract with ExxonMobil in Cameroon

  Caverton Helicopters, a leading indigenous provider of aviation logistics services for the oil and gas industry has secured a multi-million dollar five-year agreement with the Cameroon Oil Transportation Company (COTCO). COTCO is owned by Chad, Cameroon, Exxon...

  • Posted February 27, 2012
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  Fidelity Bank, others bag Euromoney Deal of the Year Award for $650 million Etisalat Facility

  Five Nigerian banks have been selected as winners for the Euromoney Project Finance Deal of the year in the Telecommunications sector. Fidelity Bank, GTBank, First Bank, Access, and UBA Plc were chosen due to their $650 million...

  • Posted February 27, 2012
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  Nexen Announces First Oil at Usan

  Nexen Inc. (TSX, NYSE: NXY) announced yesterday that first oil has been produced from the Usan field, offshore West Africa. The Usan floating production, storage and offloading (FPSO) vessel, of which Nexen has a 20% working interest,...

  • Posted February 25, 2012
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  Nigerian Stock Exchange Watch: Banking Sub-Sector On a Roll, ASI Up 0.34%

  Unrelenting demand for undervalued banking stocks saw the bourse edge up 0.34% as the All Share Index closed at 20,495.92. All the major sub-indices were up today including Banking (+1.59%), Insurance (+1.03%), Oil and Gas (+0.33%) and...

  • Posted February 24, 2012
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