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  • The Nemesis Called Oil And Gas (1) – Nasir Ahmad El-Rufai [Opinion]

    Editor’s note: This guest post is written by Nasir Ahmad El-Rufai, a former Director General of The Bureau of Public Enterprises,  and also the former Minister of the Federal Capital Territory, Abuja. That Sunday was like every other one, but the impact...

    • Posted October 15, 2011
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  • Sport: Chelsea pays £2m for 14-year-old Oluwaseyi Ojo

    Chelsea have agreed to pay a staggering £2million to make an MK Dons youth-team player the most expensive 14-year-old in football. Teenage sensation Oluwaseyi Ojo is viewed as one of the hottest prospects in English football, with...

    • Posted October 15, 2011
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  • Sport: Arsene Wenger rules himself out of England manager’s job

    Arsene Wenger has ruled himself out of managing England, he believes the job must be done by an Englishman. The odds on Arsenal’s French boss succeeding Fabio Capello after Euro 2012 tumbled to as low as 8-1...

    • Posted October 15, 2011
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  • Why petroleum subsidy must go, by Jonathan

    Despite the public outcry against the planned removal of fuel subsidy, President Goodluck Jonathan yesterday insisted on its withdrawal. Funds saved from the removal will stimulate private sector investments to bridge infrastructure gap and create incentives for investment...

    • Posted October 14, 2011
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  • All Share Index Closes the Week on a Positive Note

    The Nigerian Stock Market closed the week on a positive note, gaining 0.29% and bringing the All Share Index to 19,869.85. The banking sector put on a bullish performance today driven by institutional purchases of virtually all...

    • Posted October 14, 2011
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  • Dangote Group To Invest $350 Million in Congo

    Africa’s richest man and the chairman of Dangote Group, a conglomerate spanning interest in cement, sugar, flour manufacturing and other key sectors of the African economy, has inked a $350 Million deal with the Republic of Congo....

    • Posted October 14, 2011
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  • Headline Inflation Driven Up To 10.3% By Food and Electricity Prices

    According to figures released by the National Bureau of Statistics in Abuja, headline inflation in the country has mushroomed to 10.3%. Inflation was 10.2% in June; however effective monetary policy measures employed by the cbN had cause...

    • Posted October 14, 2011
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  • NNPC Diverts Dollars to CBN, Disrupts Forex Market

    According to forex traders, $700 Million Dollars expected to be sold to the interbank market by the Nigerian National Petroleum company was instead diverted to the Central Bank of Nigeria. Foreign exchange traders halted dealing on the...

    • Posted October 13, 2011
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  • First Bank Acquires Equity Stake in Congolese Bank

    First Bank today announced its acquisition of a Congolese bank, the Banque International de Credit (BIC). The deal was ratified by the central Bank of Nigeria. B.I.C is regarded as one of the Congo’s most diversified financial...

    • Posted October 13, 2011
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  • First Bank Profit After Tax up 32%

    First Bank plc has declared a profit after tax of N 42.9 billion for the 3rd Quarter period ended 30th September 2011. This was a 32% increase of PAT over the same period last year. Earnings before...

    • Posted October 13, 2011
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  • Vitafoam Nigeria Gets IFC Loan to Expand in Sierra Leone

    Vitafoam Nigeria Plc, a foam- products manufacturer, received a $2.8 million loan from the International Finance Corp. to help it expand in the West African nation of Sierra Leone, an official said. The loan will go to...

    • Posted October 13, 2011
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  • Federal Government plans to invest US$2.68 billion in Indonesia refinery

    The Federal Government plans to invest RP24 trillion (about US$2.68 billion) in Indonesia to fund the construction of three oil refineries, an Indonesian official has said. According to The Jakarta Post, Indonesian Industry Ministry’s Director-General for manufacturing-based industry,...

    • Posted October 13, 2011
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  • Nigeria Gas and Steel invests N750m on local steel pipe mill

    The Nigeria Gas and Steel Limited (NGSL) has invested a  $5 million (N750 million) into the production of a locally-produced large diameter steel pipes in Nigeria. The Managing Director, Mr Hasib Moukarim, said the modern fashion of...

    • Posted October 13, 2011
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  • Fed Govt to sell N55b bonds on October 19

    The Federal Government is to sell N55 billion ($346.13 million) in three-year, five-year and 10-year sovereign bonds on October 19, at its 10th monthly debt auction this year, the Debt Management Office said on yesterday. The debt...

    • Posted October 13, 2011
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