All posts by Afolabi Ogunde

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  Nigerian Strike Drive Cocoa Prices to Highest in 11 years

  The ongoing labour strike in Nigeria has contributed to drive the price of Cocoa to highs not seen in 11 years. Government processing offices that usually grade Cocoa before export are closed as a result of the...

  • Posted January 11, 2012
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  Hedge Funds battle IMF on Greek Sovereign Debt Position

  Powerful financial institutions known as Hedge Funds are taking a defiant stand against the International Monetary Fund in order to protect their financial investment positions in Greek sovereign debt as the EuroZone crisis lingers. As part of...

  • Posted January 11, 2012
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  Senate calls on Presidency to Temporarily Reinstate Fuel Subsidy

  Senators have unified with the Representatives in calling for President Jonathan and the executive to temporarily reverse the pump price of petrol back to N 65. During a closed door session yesterday, quite unlike the transparent session...

  • Posted January 11, 2012
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  Nigerian Stock Exchange Watch: Market Records Consecutive Day Gain During Strike

  The bears appear to have been driven away from the market as a result of the nationwide strike as the Nigerian Stock Exchange has gained for the second consecutive day.  The All Share Index (ASI) gained 0.50%...

  • Posted January 10, 2012
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  82% of Nigerians Do Not Support Fuel Subsidy Removal Policy – Poll

  According to a poll conducted by BusinessNews, 82% of Nigerians do not support President Jonathan’s decision to remove fuel subsidy, believing it was the wrong decision. Respondents to the survey came from diverse locations including Norway, Sudan,...

  • Posted January 10, 2012
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  African Petroleum Côte d’Ivoire Awarded Oil Block

  African Petroleum, a multi-national Oil and Gas Exploration Company based in Australia focused on offshore West Africa with current projects off the coast of The Gambia and Liberia has been awarded an exploration license in Ivory Coast....

  • Posted January 10, 2012
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  Crude Oil Prices Rise on Iranian Threats, No impact seen from Nigeria strike

  Crude Oil prices have risen for the first time in four days on speculation that the planned embargo on Iranian cargoes may disrupt supply. The quote price of West Texas Intermediate was 102.71, up 1.38% as at...

  • Posted January 10, 2012
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  EcoBank adopts Environmentally Friendly ‘Equator Principles’

  Ecobank Transnational Incorporated (ETI), parent company for Ecobank Nigeria and other Ecobank subsidiaries scattered across Africa, has adopted the, environmentally friendly, Equator Principles. The Equator Principles (EPs) are a credit management framework or list of guidelines for...

  • Posted January 10, 2012
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  Inflation may hit 15% in 2012 – Renaissance Capital Analyst

  Financial and macro-economic analysts have signaled that the removal of fuel subsidy by the Federal Government will have grave attendant consequences on inflation, beyond simply pushing up transport costs but also affecting a wide basket of goods...

  • Posted January 10, 2012
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  “Buses run on Diesel, Not Petrol” – Iweala’s Policy Gaffe

  The Coordinating Minister of the Economy and Minister of Finance, Ngozi Okonjo Iweala, stated on Al-Jazeera on Sunday that the removal of fuel subsidy would not affect transport costs since “buses run on diesel”. This was a...

  • Posted January 10, 2012
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