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All posts by Afolabi Ogunde

  • Oil Price Continues to surge on Expected US Recovery

    Oil traded near the highest price in four months before reports forecast to show a strengthening economy in the U.S., the world’s biggest consumer of crude. Futures were little changed in New York after surging as high as $100.42...

    • Posted September 17, 2012
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  • Bayelsa Fishing Communities Protest Eni Oil Spill

    Italian oil firm Eni said on Saturday an oil spill near its facilities in the Niger Delta had been contained, but local people said the pollution had spread and damaged their fishing. Eni said the spill occurred...

    • Posted September 17, 2012
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  • Nigeria Rivals China in Private Jet Expenditure, Spends N1 trillion on Clearport Transportation

    Information garnered from Nigerian aviation industry insiders has revealed that Nigerians acquired 120 new private jets between 2007 and 2012. The total estimated sum of the purchases is over $6 billion or N1 trillion. The private planes...

    • Posted September 17, 2012
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  • PZ Suffers Profit Slump, Blames Northern Insecurity

    Incessant insecurity in the North was the cause of a 54% drop in profit says PZ Managing Director, Christos Giannopoulos. He disclosed this at the company’s 64th Annual General Meeting (AGM) in Abuja yesterday. According to him profits...

    • Posted September 14, 2012
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  • Oil Rises to Four-Month High on Stimulus, Middle East

    Oil rose to the highest level in four months on speculation that economic stimulus in the U.S. will boost fuel demand. Concern that unrest in the Middle East and North Africa will disrupt supplies also buoyed prices. Futures advanced...

    • Posted September 14, 2012
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  • Legend beer celebrates international quality award

    For meeting international quality standards, Legend Extra Stout, Nigerian Breweries Plc’s premium stout, has received the prestigious Gold Quality Award. According to the company, the brand won the award at the 51st Monde Award ceremony recently held in Athens, Greece....

    • Posted September 14, 2012
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  • Nissan to open Assembly Plant in Nigeria

    Nissan Motors has said it is poised to open an assembly plant in Nigeria as a result of its satisfaction of the quality of infrastructure and sales opportunity in the country. Regis Tromeur, the Managing Director of...

    • Posted September 14, 2012
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  • Privatization Council Postpones Meeting on DISCOs till September 18

    The National Council on Privatization (NCP) postponed the meeting for the shortlisting of preferred bidders for the 11 electricity distribution companies for a second time yesterday. The Council was unable to meet yesterday due to a high-level...

    • Posted September 14, 2012
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  • Naira Snaps Three Days of Declines as Crude, Reserves Advance

    The naira climbed against the dollar, snapping three days of declines as crude prices and the nation’s foreign exchange reserves, increasing confidence the central bank can manage its stability. The currency of Africa’s biggest oil producer rose...

    • Posted September 13, 2012
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  • Are Smart Phones a Threat to Nigeria’s N180 billion SMS Industry?

    Telecoms companies in the country earned N180 billion from Short Message Service (SMS) sent by Nigerians in 2011.  That figure is expected to increase in 2012 as research carried out by London based Ovum Technology, an international research...

    • Posted September 13, 2012
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