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All posts by BusinessNews Staff

  • SPDC JV’s Afam VI delivers 20million MWh electricity into national grid

    Shell’s Afam VI Power Plant in Rivers State has delivered over 20 million Megawatt-hour (MWh) of electricity into the Nigerian grid between its inauguration in 2008 and June 2015, thereby consolidating its position as a leading contributor...

    • Posted June 30, 2015
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  • Legacy Equity Fund records N115m gross income, N93m profit

    The Legacy Equity Fund, unit trust scheme managed by First City Asset Management Limited, recorded gross income of N115.20 million and net profit of N92.81 million for 2014 financial year. A further analysis of the performance of...

    • Posted June 30, 2015
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  • Allow illegal refineries to operate – Stakeholders urge FG

    Stakeholders in the Nigerian oil and gas industry have urged the President Muhammadu Buhari-led administration to encourage more private sector players in the setting up and operation of new refineries across the country. As part of the...

    • Posted June 30, 2015
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  • Ondo, Korean firm to build 550MW power plant

    The Ondo State Government and a Korean firm, Kingline Development Limited, have concluded plans to boost industrialisation in the state with the construction of a 550-megawatts power plant valued at $500m (N99bn). The Chief Business Development Officer,...

    • Posted June 30, 2015
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  • ISSAN waits on Buhari to implement cybercrime law

    the Information Security Society of Africa-Nigeria says it is waiting “anxiously” on President Muhammadu Buhari to implement the cybercrime law, given his antecedents and tough posture on corruption and other crimes. The society stated that law, if...

    • Posted June 30, 2015
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  • Commercial real estate development attracts N400bn investment

    As a sign of the increasing potential of the Nigerian economy and its attractiveness to global players, developers are expected to invest close to N400bn in the development of luxury office accommodation across the country between now...

    • Posted June 30, 2015
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  • Wema Bank opens new branches

    Wema Bank Plc has  opened  two new branches in Lagos. The bank said the move was part of efforts to take business opportunities to the door steps of customers and achieve part of the planned growth for...

    • Posted June 30, 2015
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  • Facebook opens first Africa office

    Facebook on Monday announced it had opened its first African office. Locate in Johannesburg, South Africa, the company said it was part of its efforts “to help people and businesses connect”. The office will be headed by...

    • Posted June 29, 2015
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  • Buhari’s government incurs N57bn petrol subsidy debt

    The Federal Government has incurred a total sum of N56.784bn in petrol subsidy arrears since Muhammadu Buhari took over as President of the country on May 29, this year. According to data from the Petroleum Products Pricing...

    • Posted June 29, 2015
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  • Naira devaluation discourages savings — Oyetunji

    In this interview with NIKE POPOOLA, the Group Managing Director, Continental Reinsurance Plc, Dr. Femi Oyetunji, speaks on the development of insurance and reinsurance business in Africa What are local insurers doing to curb capital flight via...

    • Posted June 29, 2015
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