All posts by Afolabi Ogunde

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  Department of Petroleum Resources Compensates Staff N 27 million Annually – 2012 budget

  The Oil and Gas sector is hands down the most lucrative sector in the Nigerian economy, however recent revelations have uncovered a shocking secret: each Department of Petroleum Resources (DPR) staff collects N 27 million. Well this...

  • Posted February 3, 2012
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  FG Awards N20 Billion Contract to Eko Support Services to Upgrade Lagos Apapa Ports

  The Federal government has awarded a N 20 Billion contract for the upgrade of the Lagos Ports Complex in Apapa. The award is based on a Build Operate and Transfer (BOT) model and was awarded to Eko...

  • Posted February 3, 2012
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  Senate Commends Customs on N 900 Billion Generated in 2011

  The Federal Government lost N 37 billion in revenue to import waivers granted under the Export Expansion Grant scheme (EEG). The scheme is meant to allow Nigerian manufacturers who export their finished goods, procure/import raw materials required...

  • Posted February 3, 2012
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  NSE set to reduce listing requirements

  The Nigerian Stock Exchange has said that it is set to reduce the listing requirements for companies seeking to raise capital from the Exchange. This, according to the NSE, is part of its plans to deepen activities...

  • Posted February 3, 2012
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  Health Ministry Expands Cancer Treatment Facilities, Offers Widespread HPV Vaccination

  TEN teaching hospitals in Nigeria are to benefit from a N1.44 billion ($9 million) project supported by the International Atomic Energy Agency (IAEA) to procure cancer-treating equipment. Beneficiaries of the project to be completed in 2015 are...

  • Posted February 3, 2012
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  Nigerian Stock Exchange Watch: Market YTD Performance 0.44%

  The Nigerian bourse recovered from its losses yesterday as the ASI closed up marginally by 0.15% settling at 20,822.0. Diamond Bank continues to lead the YTD performance of the banking sub sector as the stock gained an...

  • Posted February 2, 2012
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  Etisalat invites bids for African towers – sources

  (Reuters) – UAE telecoms operator Etisalat has invited bidders for its telephone tower operations in Africa, two sources familiar with the matter told Reuters on Wednesday. Etisalat operates in about 10 African countries, including Egypt, Nigeria, Tanzania...

  • Posted February 2, 2012
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  11 Deadly Social Media Sins for Brands

  Most brands are trying really hard to succeed with their social media initiatives. They are trying new ways to engage – from receipts at checkout to advertisements in newspapers; brands are trying their best to connect with...

  • Posted February 2, 2012
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  Highlights of Facebook’s $ 5 Billion IPO Filing

  Facebook filed for its IPO yesterday with the Securities and Exchange Commission (SEC) in Washington DC. Anthony De Rosa has put together a compilation of the most interesting points. Enjoy: Zynga accounted for approximately 12% of Facebook...

  • Posted February 2, 2012
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  Bonuses: Former NSE Officials Refund N 607 million

  The Nigerian Stock Exchange has recovered N607m out of the N1.39bn shared by former council members as bonuses between 2006 and 2008. The News Agency of Nigeria reports that N783.8m  is still outstanding. The 2010 annual report of the...

  • Posted February 2, 2012
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