Latest News

• 
  IMF: 2012 Growth In Sub-Saharan Africa Seen At Least 5.5%

  ADDIS ABABA, Ethiopia -(Dow Jones)- Countries in sub-Saharan Africa are expected to register economic growth of at least 5.5% in 2012, compared with 5% last year, driven by new resource exploitation and recovery from drought, the International...

  • Posted May 15, 2012
  • 0
• 
  FG Secures US$ 467 million World Bank, AfdB Debt Financing for Roads

  The Minister of Works, Mike Onolememen, has disclosed that the World Bank and African development Bank has committed $ 467 million in debt financing for the rehabilitation and expansion of Nigeria’s road network. The minister disclosed this...

  • Posted May 15, 2012
  • 0
• 
  Organized Private Sector Against Electricity Tariff Increase

  The government announced plans to increase the hike in electricity tariff months ago, yet Nigerians have not reacted the way they did to the fuel subsidy removal. Kicking against the policy however are elements of the Organized...

  • Posted May 15, 2012
  • 0
• 
  Boko Haram: Toll booths as a Strategic National Security Defense Tactic

  Toll booths are not just tools the Tinubu Lagos Industrial Governmentima Complex (TLIGC) uses to shore up its capital base. They can also be information and communication technology tools our security apparatus may utilize to counter the...

  • Posted May 15, 2012
  • 0
• 
  Lagos, Aba and Kano to get Uninterrupted Power in 2013

  The Minister of Power, Barth Nnaji, has said that major industrial cities in Nigeria will enjoy sustainable uninterrupted power by 2013. He made the disclosure whilst speaking at a workshop titled ‘Enhancing the productivity of Nigeria’s Industries’...

  • Posted May 15, 2012
  • 0
• 
  Nigerian Stock Exchange Watch: Market Dips 0.31%, Dangote Stocks Drive Bourse Performance

  The Nigerian Stock Exchange dipped in today’s trading shedding 0.31% on the back of a bearish outing by the highly capitalized participants. Names such as First Bank (-1.77%), Zenith (-0.27%), Nigerian Breweries (-0.01%), and Dangote Cement (0.00%)...

  • Posted May 14, 2012
  • 0
• 
  Skye Bank Signs Novel $150 million Loan Agreement With 3 International Lenders

  Skye Nigeria signed a $150 million five-year term-loan facility with African Export-Import Bank, Citigroup Inc. and Standard Bank Plc, who are the mandated lead arrangers and book-runners, according to a statement from Standard Bank, a unit of...

  • Posted May 14, 2012
  • 0
• 
  Mobil Q1 2012 Earnings: Net Income Down 57% YoY

  Mobil recently reported its Q1, 2012 earnings. Headline revenue was up 22% to N 17.7 billion from N 14.5 billion over Q1, 2011. Additional income was reported at N 5 billion, up 267% from -N3 billion over...

  • Posted May 14, 2012
  • 0
• 
  Custodian and Allied Insurance Q1 2012 Earnings, Gross Premiums Top N 3.5 billion

  Custodian and Allied Insurance recently reported its q1, 2012 earnings. Gross Premiums earned over the period topped N 3.5 billion up 16% from the N 3 billion it earned over the same period last year. Income from...

  • Posted May 14, 2012
  • 0
• 
  Experts Justify Electricity Tariff Hike • MAN, NACCIMA Want New Tarrif Suspended

  EXPERTS in the electricity industry have raised their voices in the support of the proposed increment in the electricity tariff, which is expected to come into effect on June 1, 2012. The increment, as proposed by the...

  • Posted May 14, 2012
  • 0
• 
  CBN Boss Undertakes N 55 Million Personal Social Responsibility Initiative for Red Cross

  Central Bank Deputy Governor, Tunde Lemo, has donated a N 55 million clinic to the Red Cross Society of Nigeria in Ogun State. The CBN deputy governor handed the clinic over last Wednesday stating, “I was driven...

  • Posted May 14, 2012
  • 0
• 
  FIRS Arrests Management of Sweet Sensation, UTC Others Over N 1.8 billion in unremitted Taxes

  The Federal Internal Revenue Service (FIRS) has arrested senior management of several companies for tax related offences. The affected companies are Sweet Sensation, UTC and Pivotal Engineering. Abu Stephen, Assistant Director of Legal and Prosecution Department of...

  • Posted May 14, 2012
  • 0
• 
  Chinese Construction Company and Nigerian Army Perpetrate Human Rights Abuses in Akwa Ibom

  Chinese Construction Company Engaged in Human Rights Abuses in Akwa Ibom Chinese nationals working with China Civil Engineering Construction Corporation (CCECC) have been exposed by the Civil Liberties Organization (CLO) for gross human rights violations in the...

  • Posted May 14, 2012
  • 1
• 
  Fuel Subsidy Scandal: President Unlikely to Prosecute Allies

  Nigerian President Goodluck Jonathan is coming under pressure to prosecute top officials implicated in a $6.8 billion fuel subsidy fraud, but many of the suspects are allies he is unlikely to go after if wants to keep...

  • Posted May 14, 2012
  • 0