All posts by Afolabi Ogunde

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  CAC commences 24-hour business registration in Lagos and Abuja Offices

  Nigeria, on Thursday, recorded a major boost in its Investment Climate Reforms Programme, as the Corporate Affairs Commission, a parastatal under the Ministry of Trade and Investment, officially commenced its start-to-finish 24-hour business incorporation service. What this...

  • Posted November 2, 2012
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  FG to provide $1bn guarantee for local airlines

  The Federal Government is set to provide bank guarantees to enable indigenous airlines to buy new and serviceable airplanes. Plateau State Governor, Mr. Jonah Jang, disclosed this to State House correspondents at the end of the National...

  • Posted November 2, 2012
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  Aliko Dangote Makes Bloomberg List for World’s Richest People, Earns $3.5 billion so far in 2012

  Alhaji Aliko Dangote, Chairman of Dangote cement and richest man in Africa has been mentioned for Bloomberg Markets’ inaugural list of the world’s richest people, in the magazine’s December 2012 issue. The magazine says the individuals mentioned on...

  • Posted November 2, 2012
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  IMF Cautions Nigeria On Huge Spending

    On the backdrop of the shaky  global economic front, the International Monetary Fund(IMF) has advised Nigeria to avoid unnecessary  huge spending that could expose the economy  to crisis. This was the message of the Fund’s representative...

  • Posted November 2, 2012
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  NIGERIA LOSES $37 BILLION IN OIL REVENUE

    A report by the Presidential Committee and Task force on Oil and Subsidy submitted to President Goodluck Jonathan reveals that Africa’s biggest producer of Oil has lost about $37 billion of revenue in the petroleum sector over the...

  • Posted November 2, 2012
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  Stanbic IBTC Reports 3Q Earnings, Declares Net Income of N6.9 billion

  Stanbic IBTC reported its 3Q earnings to the Nigerian Stock Exchange yesterday. The company said its gross earnings were up 35% to N64 billion, from N47.4 billion over the same period last year. Interest income was up...

  • Posted November 1, 2012
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  Nestle’s Nine Month Income Up 63% to N15.4 billion

  Nestle, makers of popular beverage Milo, transmitted its 3Q earnings to the Nigerian Stock Exchange yesterday. Revenue was reported at N85 billion, up 21% from N70.5 billion made over 3Q, 2011. Profit before tax was up 41%...

  • Posted November 1, 2012
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  Akpabio Suggests Buying Bakassi Back As FG Moves to Support Cross Rivers

    Akwa Ibom state Governor, Godswill Akpabio has suggested an innovative remedy for the loss of the Bakassi region to Cameroon. The South-south governor of the oil-rich state proposed that Nigeria buy back the territory from Cameroon....

  • Posted November 1, 2012
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  First Bank’s 3Q Profit of N66.3 billion is Industry Highest

  First Bank, the third largest lender in Nigeria according to Market valuation statistics has transmitted its third quarter earnings to the Nigerian Stock Exchange. The bank reported a 19% growth in gross earnings which were N267.7 billion,...

  • Posted October 31, 2012
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  Nigeria Approves Siemens, Korea Electric Power Grid Bids

  Nigeria approved bids from companies including Siemens AG (SIE) and Korea Electric Power Corp. (KEP) for 10 state-owned power distribution companies, marking the end of a five-year privatization process. The successful bids were worth more than $1.3 billion, the Abuja-based National...

  • Posted October 31, 2012
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