Latest News

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  Etisalat Blames Poor Power Supply for Quality of Service Issues, After $ 2m Fine

  After being fined N 1.17 billion alongside MTN, Airtel and Globacom by the Nigerian Communications Commission (NCC), Etisalat has admitted to the poor service delivery. However the company has blamed poor power supply, sabotage and other infrastructural...

  • Posted May 14, 2012
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  NCC fines four GSM operators N1bn Over Poor Services

  The Nigeria Communications Commission has said four Global System for Mobile Communications operators are to pay a cumulative sum of N1.17bn penalty for poor Quality of Services. In a statement made available to newsmen on Saturday in...

  • Posted May 13, 2012
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  Sterling Bank Reports Q1, 2012 Earnings of N 17 billion, Net Income of N 1.3 billion

  Sterling Bank recently reported its first quarter earnings. The bank took made N 17 billion in gross earnings, up 78.8% from the N 9.6 billion it made in Q1, 2011. Interest income was up 116% at N13.6...

  • Posted May 11, 2012
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  Boko Haram Attacks Hurting Sales at Nigerian Breweries, CEO Says Still Open to Opportunity

  Nigerian Breweries Plc , the nation’s largest brewer by market value, said bombings and attacks by Boko Haram Islamists are curbing sales in the north. “People are more reluctant to go out and retail sales in the...

  • Posted May 11, 2012
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  BP to Partner Ekiti on Bio-Fuels, Refineries

  EKITI State and the British Petroleum (BP) are set to partner in the area of bio fuel as well as crude and refined oil products. This is part of the outcome of a meeting between Ekiti State...

  • Posted May 11, 2012
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  Senate Reduces Charges for FRSC License Plates, Drivers License, Postpones Implementation by 6 Months

  The Senate Committee on Federal Character and Inter-Governmental Affairs has scored serious points with the Nigerian people as it has ordered the Federal Roads Safety Commission (FRSC) to reduce the cost to Nigerians of the new license...

  • Posted May 11, 2012
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  FG to Provide N 50 billion for Electricity Bill Subsidy Ahead of June 1 Tariff Hike

  The National Economic Council (NEC) has approved the sum of N 50 billion for electricity bill subsidy in the country. This is ahead of the new billing regime pronounced by the hike in tariffs expected to take...

  • Posted May 11, 2012
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  Dangote Disputes World Bank Report on Ogun State

  Foremost Nigerian industrialist, Alhaji Aliko Dangote has disputed a joint International Finance Corporation and World Bank Report entitled, “Doing Business in Nigeria”. The report released in 2010 used four indicators to measure the ease of doing business...

  • Posted May 11, 2012
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  The Untold Story of Divided SEC Management

  Many Nigerians and other watchers of the ongoing capital market public hearing were shocked as Executive Commissioners at the Securities and Exchange Commission (SEC), took turns to deny taking part in many important initiatives and actions taken...

  • Posted May 10, 2012
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  Nigerian Stock Exchange Watch: ASI (-0.1%) Dips Marginally, Dangote Flour (+4.95%) on Bull Run

  Now is a good time to envy investors holding Dangote Flour shares. The company’s stock is up 16% this week alone propelled by rumors Tiger Brands of South Africa is planning to make some sort of investment...

  • Posted May 10, 2012
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  Dangote to Spend $ 7.5 billion on Expansion, Cement May List on LSE by Q3, 2013

  Billionaire Aliko Dangote said his conglomerate needed to spend $7.5 billion in the next four years to expand operations in a range of sectors. “We are going into something big. We are going into mining, petrochemicals, cement...

  • Posted May 10, 2012
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  Nigeria Gold Rush Exposes Thousands of Children to Lead Poison

  A gold rush in northern Nigeria risks exposing tens of thousands of children to lead poisoning in what may already be the worst such crisis in history, Medecins Sans Frontieres said. Residents of the northern Zamfara state started artisanal...

  • Posted May 10, 2012
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  Dangote Sugar Q1, 2012 Profits Up 101% YoY

  Dangote Sugar has announced its Q1 earnings. The company reported a 24% increase in sales. Turnover for the period was N26.7 billion as against the N 21 .5 billion it made over the same period last year....

  • Posted May 10, 2012
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  Does the Arunma Oteh Situation Prove Harvard Degrees Are Overrated in Nigeria?

  Arunma Oteh did not need to consult her senior management staff at SEC in order to unilaterally approve a N 500 billion AMCON bond. Is this because she is some sort of Amazon Wonderwoman? No, she has...

  • Posted May 10, 2012
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