All posts by Afolabi Ogunde

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  Jonathan Commences Campaign for Total Removal of Fuel Subsidy

  President Goodluck Jonathan has moved to totally remove fuel subsidy, the president launched his crusade in Abuja on Thursday, saying Nigeria is not developing because of fuel subsidy. Omitting the gargantuan corruption problem in Nigeria, he said...

  • Posted November 16, 2012
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  Flour Mills to Start Sugar Refinery in December

  Flour Mills of Nigeria Plc, the country’s biggest miller by market value, will start production at its 750,000-metric ton sugar refinery in December, Chief Financial Officer Jacques Gauthier said. “We are confident we will have our first...

  • Posted November 16, 2012
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  Subsidy War: Okonjo Iweala (2) vs. Oil Barons (0)

  Ngozi Okonjo Iweala has never appeared as a person whose integrity can be compromised, no matter how juicy the enticement. Remember during her first term as a public servant in Nigeria, when the Presidency bounced her about...

  • Posted November 15, 2012
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  Nigeria Stock Exchange Watch: ASI (+0.21%) Recovers as Activity Accelerates in Insurance sub-Sector

    The major news in the market today was not the fact that the market bucked its losing streak by the ASI gaining 0.21%, or that Nestle released pretty impressive Q3, 2012 results. Analysts are wondering who...

  • Posted November 14, 2012
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  Private equity poised for push into Africa

  Private equity houses are swapping low-growth buyout deals in Europe and North America for a slice of booming consumer demand in Africa. They are drawn by a youthful and booming population that could almost double to 2...

  • Posted November 14, 2012
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  LASG Gives 48-hour Ultimatum to 1004 Estate Residents

    The Lagos state government has given the residents of 1004 a 48 hr ultimatum before they shut  down the group of flats. This was due to the failure of the residents to pay outstanding Land Use charges....

  • Posted November 14, 2012
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  FG appoints Stanbic as Government bond broker

    The Federal Government has appointed Stanbic IBTC as stockbroker for its debt, in a move aimed at expanding participation in government bond issues to retail investors on the bourse, the debt office said on Wednesday. Africa’s...

  • Posted November 14, 2012
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  Nigeria Stock Exchange Watch: ASI (-1.20%) Sheds Weight as Blue Chips Slide

    The All Share Index shed a 120 basis points to close at 26,290.41. The decline was caused by a slide in the prices of stocks of bluechips, mostly top-tier banks and Nigerian Breweries (-2.15%). Only two banks...

  • Posted November 13, 2012
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  RenCredit MFB Opens in Nigeria to Focus on Middle-Income Market

  RenCredit MFB Ltd., the Nigerian consumer-finance unit of Moscow-based Renaissance Group, opened operations in sub-Saharan Africa’s second-biggest economy. “We plan to lend about 1 billion naira ($6.3 million) over the next six months, but much of our lending...

  • Posted November 13, 2012
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  Tony Elumelu Foundation names new director

  The Tony Elumelu Foundation has announced the appointment of Ms. Désirée Younge from Sierra Leone, as Director of Leadership and Entrepreneurship Development. Younge comes to the Foundation with extensive experience in philanthropy and impact investing through her...

  • Posted November 13, 2012
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