All posts by Afolabi Ogunde

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  President Jonathan seeks House of Assembly Approval to Borrow $ 7.9 billion from World Bank, Others

  The Federal Government has unveiled plans to borrow $ 7.9 billion (N 1.2 trillion) from the World Bank and other multi-national financial institutions. The President sent a letter along with a list of projects to the National...

  • Posted February 15, 2012
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  MDAs smuggle N 1 trillion worth of projects into 2012 Budget – Senate

  The Senate Committee on Appropriation has indicted Ministries, Departments and Agencies (MDAs) of the Federal Government of having inflated the 2012 budget by a colossal N 1 trillion. Chairman of the committee, Ahmed Maccido, informed journalists in...

  • Posted February 15, 2012
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  Nigerian Stock Exchange Watch: Market Responds Positively to Love Bug

  The Nigerian Stock Exchange recorded brisk business today even as Valentine epidemic was underway in the commercial capital- Lagos. The stock market must have borrowed Cupid’s arrow to give investors a positive vibe as the All Share...

  • Posted February 14, 2012
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  Honeywell Flour Mills 3Q, 2011 Earnings up 23%

  The management of Honeywell Flour Mills released its 3Q, 2o11 results on the floor of the exchange today. The company reported a growth in revenue of 20%. Revenues were N 27.94 billion, up from N23.36 billion over...

  • Posted February 14, 2012
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  Agbonlahor Resigns from Board of Guinness Nigeria Plc

  Guinness Nigeria Plc has notified the Exchange that the Board of Directors of Guinness Nigeria Plc. at its meeting of Thursday, February 9, 2012 accepted the resignation of Mr. Francis Agbonlahor from the Board of Directors of...

  • Posted February 14, 2012
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  International Private Equity Firms court Nigeria, South Africa

  An increasing number of private equity firms are seeking to participate in deals in Africa. Businessnews spoke with a PE player based in New York over the weekend. The associate at the PE firm which controls $183...

  • Posted February 14, 2012
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  MTN advises Data Subscribers to Register their SIMs

  MTN has advised its data subscribers to register the SIM in their devices in order to received uninterrupted services. Apparently the directive from the Nigeria Communications Commission (NCC) that all devices must be registered does not apply...

  • Posted February 14, 2012
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  Firm Boosts Power Supply in Lagos, Ogun

  As part of its mandate to strengthen the power transmission and distribution networks in the country, Niger Delta Power Holding Company Limited, (NDPHC), owners of the National Integrated Power Project (NIPP) has declared one 60MVA 132/33 KV...

  • Posted February 14, 2012
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  FG received N 4.62 trillion in Taxes in 2011

  The Federal Government made N4.62tn from tax collections in 2011, the Federal Inland Revenue Service has said. The figure represents an increase of N990bn or 27.27 per cent over the N3.63tn revenue target set for the agency....

  • Posted February 14, 2012
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  Irish Rock Star backed Private Equity Firm to Invest $450 million in sub-saharan Africa

  Private Equity firm 8 Miles LLP backed by Irish Rock Star Bob Geldof has raised $ 200 million to invest in sub-Saharan Africa which includes Nigeria, Kenya, and Ghana as the top investment destinations. 8 Miles, which...

  • Posted February 14, 2012
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