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All posts by BusinessNews Staff

  • Investors trade 295.69 million shares on Monday

    The first trade of the week at the floor of the Nigerian Stock Exchange, NSE, ended on a bearish note as 295.69 million shares valued at N3.91 billion were traded by investors in 5,921 deals. This was...

    • Posted October 21, 2013
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  • Youths protest at ExxonMobil, demand compensation for oil spill

    Some members of Ibeno Youths Coalition on Monday protested peacefully against Mobil Producing Nigeria Unlimited to demand for compensation for the Nov. 29, 2012 oil spill in the area. The youths, who were no fewer than 2,000,...

    • Posted October 21, 2013
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  • Court dismisses Alao’s bid to quash N1.1bn fuel subsidy fraud charge

    An Ikeja High Court on Monday dismissed an application by an oil marketer, Abdullahi Alao, seeking to quash the fuel subsidy fraud charge against him and four others. The News Agency of Nigeria (NAN) reports that the...

    • Posted October 21, 2013
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  • FG will meet 40billion barrels of oil reserves by 2020 – NAPE

    The Nigerian Association of Petroleum Explorationists (NAPE) says the country has the capacity to meet the 40 billion barrels oil reserves as projected by the Federal Government. The President of the association, Mr George Osahon, said while...

    • Posted October 21, 2013
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  • Market capitalisation gains N115billion in three days

    The three days of trading on the floor of the Nigerian Stock Exchange, NSE, last week ended on an impressive note as the market capitalisation of the listed entities gained N115 billion or 0.98 percent to close...

    • Posted October 21, 2013
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  • NNPC denies stopping fuel importation

    The management of NNPC says it has not stopped importation of petroleum products as reported by a section of the local and international media. This was contained in a statement issued in Abuja on Sunday by NNPC’s...

    • Posted October 20, 2013
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  • Minister says 160,000MW possible by 2014

    The Minister of Power, Prof. Chinedu Nebo, on Thursday said Nigeria was capable of generating 160,000 megawatts before the end of 2014. Nebo made the remark in Abuja at the Nigeria International 4th Power Expo and Conference...

    • Posted October 18, 2013
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  • Court moves to enforce order on Mainstreet Bank in Makurdi

    Operations at Mainstreet Bank in Makurdi were interrupted for 30 minutes on Thursday when policemen and court bailiffs came to enforce an order of Benue High Court. The News Agency of Nigeria (NAN) reports that the High...

    • Posted October 18, 2013
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  • Omotosho 500MW power plant ready for inauguration – Contractor

    Mr Liu Zhao-Long, the Managing Director, China Machinery Engineering Corporation, on Friday said that the Omotosho 500 Mega Watts (MW) Power Plant in Ondo State was set for inauguration on Saturday. Zhao-Long told the News Agency of...

    • Posted October 18, 2013
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  • Investors trade 364.74 million shares on Friday

    Market rally deepened at the close of transactions on the floor of the Nigerian Stock Exchange, NSE, on Friday as investors traded 364.74 million shares valued at N4.81 billion in 5,850 deals. This was in contrast to...

    • Posted October 18, 2013
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