All posts by BusinessNews Staff

• Kulczyk Oil Ventures Inc. : Nigeria OML 42 -Update

  Kulczyk Oil Ventures Inc., an international upstream oil and gas company, announces that Neconde Energy Limited (“Neconde”) has signed an agreement providing that the timeframe for closing the proposed acquisition by Neconde of oil and gas assets in Nigeria,...

  • Posted October 27, 2011
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• Banks’earnings to improve – Fitch

  Fitch Ratings, one of the world’s foremost rating agencies, says it expects the performance of most of the Fitch-rated Nigerian banks to improve this year as a result of lower  charges and funding costs. Over the medium-term,...

  • Posted October 27, 2011
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• BUSTED: Silvio Berlusconi Caught Checking Out The Butt On The Danish Prime Minister

  Priorities! Even in the midst of crisis talks that could decide the fate of his career Italy Europe the whole world, Silvio Berlusconi makes sure to get a look at the back end of Danish PM Helle Thorning-Schmidt. (via  Linkiesta and BusinessInsider)

  • Posted October 27, 2011
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  Lagos-Ilorin passenger train service starts tomorrow

  The Nigerian Railway Corporation (NRC) would start Lagos-Ilorin passenger train service from tomorrow, a statement from the corporation said. This signals the completion of track rehabilitation work between Lagos and Jebba by the Chinese contracting firm, China...

  • Posted October 27, 2011
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  President Goodluck Jonathan Approves N59.3bn Onne Port Phase 4 Project

  The Federal Executive Council (FEC) Wednesday ratified the anticipatory approval granted by President Goodluck Jonathan to Intels (Nig) Ltd.  for the commencement of phase 4 of the Onne Ports  Complex expected to create over 25,000 jobs at...

  • Posted October 27, 2011
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• Official MIH position on the closure of Kalahari in Nigeria and Kenya

  MIH Internet (Sub-Saharan Africa) advised that, following a strategic review of its investment priorities, it will be closing down the Kalahari Kenya and Kalahari Nigeria operations with immediate effect. MIH launched online retail services in Kenya and Nigeria under the...

  • Posted October 27, 2011
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  Sanusi Wants More Money For AMCON

  Governor of the Central Bank of Nigeria (CBN) Sanusi Lamido Sanusi has asked the Senate to expedite action on the amendment of the Asset Management Corporation of Nigeria (AMCON) Act which would raise the intervention fund from...

  • Posted October 26, 2011
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  Enugu State plans to build $1.6b monorail line

  The Enugu State government has announced plans to build a 117 Kilometre-long monorail line. During the presentation of the project to the Urban Development Bank of Nigeria (UDBN) Plc. in Abuja, the State Governor, Sullivan Chime revealed...

  • Posted October 26, 2011
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  Lifestyle: Porn Is Ruining The Sex Lives Of An Entire Generation – Psychology Today

  Young men in their 20s apparently have no groove in bed — and it’s all because they’re addicted to pornography, according to a report in Psychology Today. But the problem is much more serious than simply either being...

  • Posted October 26, 2011
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  Transcorp Appoints Obinna Ufudo as Chief Executive

  Transcorp., a Nigerian company with interests in hotels, agriculture and oil, named Obinna Ufudo as its chief executive officer with immediate effect. The company, based in Lagos, also appointed Chibundu Edozie to its board of directors, according...

  • Posted October 25, 2011
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