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  • Vulcan Energy to build Six Refineries in Nigeria for $ 4.5 billion

    American firms, Vulcan energy and its Nigerian joint-venture partner, Petroleum Refining and Strategic Reserve (PRSR) have signed a $ 4.5 billion with the government to build six refineries. The refineries will have a capacity of 30,000 barrels/day...

    • Posted July 3, 2012
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  • Jonathan’s Reform Plan For Nigeria Mired In Scandals

    Farouk Lawan led a Nigerian parliamentary committee that grilled fuel importers in January over accusations they received 1.1 trillion naira ($6.7 billion) in illegal payments. Now, Lawan is under the spotlight, facing police questioning over allegations, which...

    • Posted July 3, 2012
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  • Indigenous firms Win Majority of $ 60 Billion Crude supply contracts

    The Federal government has favoured indigenous companies over foreign companies in the award of crude oil supply contracts worth over $ 60 billion (N 10 trillion). According to information gleaned from Reuters, the government has awarded over...

    • Posted July 3, 2012
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  • Analysis: Nigeria, a rugged road to high returns

    Bomb blasts, gun attacks, airline crashes, kidnappings, industrial-scale oil theft, armed robberies and fraud costing billions of dollars. Such things might give pause to anyone thinking of opening a business. In Nigeria, they happen with alarming frequency,...

    • Posted July 2, 2012
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  • Petroleum Industry Bill awaits Cabinet Approval – President Jonathan

    Nigeria’s Petroleum Industry Bill will be sent to lawmakers after approval by the cabinet, President Goodluck Jonathan’s office said. Jonathan has told relevant government ministries to evaluate the draft, prepared by a technical committee before presentation to the...

    • Posted July 2, 2012
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  • Naira Depreciates As Inflation Concern Slows Inflows

    The naira weakened against the dollar as concern inflation may accelerate slowed inflows and as oil, the country’s key export, retreated. The currency of Africa’s biggest oil producer fell as much as 0.4 percent in the interbank marketand traded...

    • Posted July 2, 2012
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  • Google Leads Fortune’s 100 Best Companies to Work For

    According to Fortune/CNN Money, Google, the world’s leading technology company is the best company to work for in the United States, and possibly the world. Other companies inclueded the Boston Consulting Group (#2), Mercedes BEnz USA (#12),...

    • Posted June 30, 2012
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  • Compromised Petroleum Industry Bill Finally Submitted to President Jonathan

    The Minister of Petroleum Resources has confirmed that the Petroleum Industry Bill (PIB) has been submitted to Mr. President. This move may signal an end to the years of waiting all stakeholders including the Nigerian people have...

    • Posted June 30, 2012
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  • ENVELOPES: How Corruption was Eliminated and Economic Prosperity Restored in Georgia

    When the prime minister comes to sell you an IPO, you, the investor, take the meeting. When that prime minister turns up with no bodyguards and shows remarkable knowledge of the company he is promoting, you, the...

    • Posted June 30, 2012
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  • Gold Discovered In Haiti Estimated at $20 Billion

    Haiti – Its capital is blighted with earthquake rubble. Its countryside is shorn of trees, chopped down for fuel. And yet, Haiti’s land may hold the key to relieving centuries of poverty, disaster and disease: There is...

    • Posted June 29, 2012
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  • Festus Ezeli drafted from Vanderbilt into NBA’s Golden State Warriors

    Nigerian born Ifeanyi Festus Ezeli has been drafted into National Basketball Association (NBA) league from Vanderbilt University where he played collegiate basketball. He was recruited into the Golden  State Warriors as the 30th overall pick in the...

    • Posted June 29, 2012
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  • Gold Traders Extend Bullish Streak As Debt Crisis Deepens

    Gold traders are bullish for a sixth week on speculation that Europe’s debt crisis will boost demand from investors seeking to protect their wealth and drive prices higher after the biggest quarterly slump in eight years. Sixteen...

    • Posted June 29, 2012
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  • Oil marketers read Riot Act to FG over Subsidy Debts, Fuel Scarcity Looms

    Oil marketers in the country have refused to embrace their Q3 import allocation quotas due to the failure of the Federal Government to remit N 200 billion in subsidy claims owed them. The Coordinating Minister of the...

    • Posted June 29, 2012
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  • Cassava Exports to China to fetch FG $ 136 million

    NIGERIA’s economic diversification drive may inch towards realisation soon, with plan by Federal Government to export one million tonnes of cassava chips to China, beginning from this month. The export business is expected to bouy the nation’s...

    • Posted June 29, 2012
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