All posts by Ifreke Inyang

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  Efficient power will double growth rate – Minister

  Efficient power supply can increase Nigeria’s growth rate to double digits, the Minister of Power, Prof. Chinedu Nebo, has said. According to him, Nigeria may emerge as one of the top economies of the world if the...

  • Posted May 2, 2014
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  Qatari firm values Heritage Oil at $1.55bn

  Al Mirqab Capital SPC, a company controlled by Qatar’s royal family, made a cash offer valuing Heritage Oil Plc at £924 million ($1.55 billion). According to Bloomberg’s Businessweek, the offer of 320 pence a share, recommended by...

  • Posted May 2, 2014
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  Nigeria’s capital importation portfolio hits $40.4bn

  Nigeria’s Capital Importation portfolio valued at about $40.4 billion between 2012 and February 2014, according to the National Bureau of Statistics (NBS). According to the data released Tuesday, portfolio investments in equity accounted for about $28.2 billion...

  • Posted May 1, 2014
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  External reserves climb marginally to $38.142bn

  Nigeria’s beleaguered external reserves have appreciated slightly by $292 million this month to $38.142 billion on Monday. The latest value of the external reserves represents a marginal accretion of 0.8 per cent, compared to the $37.850 billion...

  • Posted May 1, 2014
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  CNBC ranks Dangote among world’s top 25 businessmen

  About a week after he was ranked among the 100 most influential personalities in the world by the Time magazine, another media organisation, CNBC, has ranked Africa’s richest man, Aliko Dangote, as one of the 25 people...

  • Posted May 1, 2014
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  Community fights Shell in UK court hearing

  Hearing on the compensation claim brought by about 15,000 members of  the Bodo community in Rivers State against the oil giant, Shell, began Tuesday in a United Kingdom court. The community is seeking damages caused by two...

  • Posted May 1, 2014
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  African leaders join Nigeria to reject European Economic Agreement

  African Ministers of Trade and experts in trade and regional integration have aligned with Nigeria’s position on the trade liberalisation deal with the European Union under the Economic Partnership Agreement (EPA), saying it will have a long-term...

  • Posted May 1, 2014
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  Cement manufacturers blame high price on gas shortage

  The high cost of cement in Nigeria despite the increase in its production has been attributed to the inadequate supply of gas to manufacturers of the product. This coming as the Federal Government has finally adopted the...

  • Posted May 1, 2014
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  Economy attracted N6.48tn investment in 26 months – NBS

  The National Bureau of Statistics on Tuesday said that the Nigerian economy attracted $40.503bn (N6.48tn) worth of investments within a period of 26 months. The agency stated this in its report signed by the Statistician-General of the...

  • Posted May 1, 2014
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  DPR suspends seven oil marketers, sanctions 11 others

  The Department of Petroleum Resources has suspended the operating licences of seven petroleum product marketers and has sanctioned 11 others in Abuja for sharp practices. It said the 18 marketers were sanctioned in April, adding that their...

  • Posted May 1, 2014
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