All posts by Afolabi Ogunde

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  FG to Concession Abuja Airport Road

  There are indications that the Federal Government plans to concession the eight-lane Abuja Airport Road to private sector investors because the project is suffering a funding shortfall of N51bn needed for its completion Consequently, the Minister of...

  • Posted February 21, 2012
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  Estimated Billings: Electricity Consumers Vow to Resist Tariff Hike

  Electricity consumers across the country have raised the alarm over continued estimated billing by the Power Holding Company of Nigeria (PHCN), notwithstanding that the system had since been outlawed by the Nigerian Electricity Regulatory Commission (NERC). They...

  • Posted February 21, 2012
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  UBA Eyes Expansion in Africa

  UBA Plc, one of Africa’s largest banking groups have unveiled plans to become even larger. The company recently postponed its share restructuring exercise due to battered stock prices which came as a result of an announcement of...

  • Posted February 21, 2012
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  European Leaders Approve Bailout for Greece

  European Finance Ministers reached an accord to provide € 130 billion in aid to Greece in order to ensure the country can continue, at least over the short-term, to meet its debt obligations instead of defaulting on...

  • Posted February 21, 2012
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  Gold, Euro and Stock Markets Rise due to Greece Bailout Approval

  Equity markets across Europe and in America have continued their rebounding streak, thanks to the approval of a second bail-out for Greece. The German DAX was up 1.46% as of 12:30 Eastern time, yesterday. Also the Stoxx...

  • Posted February 21, 2012
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  NNPC Boss says corruption claims ‘imaginary’

  The head of Nigeria’s state oil company on Monday said corruption within NNPC was overblown, casting doubt on whether the firm intends to tackle what several reports have highlighted as a major problem. Numerous reports and audits...

  • Posted February 21, 2012
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  BPE Postpones PHCN Privatization

  The Bureau of Public Enterprises (BPE) has rescheduled the sale of the 17 PHCN successor companies till October 2012. This marks the second time the Bureau will postpone the sale,  as they were originally slated to be...

  • Posted February 21, 2012
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  Nigerian Stock Market Watch: Market Up 0.14%, Banking Stocks offer Tremendous Upside

  Although it was a close call, the bears won the tug of war in the banking sub-sector beating the bulls (6 losers to 5 gainers). Banking stocks in the green today included UBA Plc (+4.76%) which continues...

  • Posted February 20, 2012
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  NBS releases January Inflation Data, CPI rises to 12.6%

  Headline Inflation in the country rose sharply to 12.6% in January, according to a report published by the Nigerian Bureau of Statistics (NBS) today. This did not take anyone unawares as it was an expected economic shock...

  • Posted February 20, 2012
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  Iran Stops Exporting Oil to British, French Companies as Tension Increases

  Iran halted crude sales to French and British buyers to pre-empt a European Union ban on imports of its oil, just as OPEC’s second-biggest producer negotiates supply contracts with China. Iran “will give its crude oil to new...

  • Posted February 20, 2012
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