Latest News

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  Lagos begins gas production from waste dumps

  Lagos State Government’s efforts to turn solid waste into wealth are paying off with the commencement of the Landfill Gas Recovery and Utilisation Project, AKINPELU DADA writes. Domestic waste, which used to pose a serious challenge to...

  • Posted February 27, 2012
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  FG to set Aside 20% Levy on Imported Textiles for Development of Local Industry – Aganga

  The Minister for Trade and Investment, Segun Aganga has disclosed that the Federal Government plans to set aside the 20% levy on imported textiles for the development of the indigenous textiles industry in Nigeria. Speaking during discussion...

  • Posted February 27, 2012
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  Caverton Helicopters Secures Multi-Billion 5 Year Contract with ExxonMobil in Cameroon

  Caverton Helicopters, a leading indigenous provider of aviation logistics services for the oil and gas industry has secured a multi-million dollar five-year agreement with the Cameroon Oil Transportation Company (COTCO). COTCO is owned by Chad, Cameroon, Exxon...

  • Posted February 27, 2012
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  Fidelity Bank, others bag Euromoney Deal of the Year Award for $650 million Etisalat Facility

  Five Nigerian banks have been selected as winners for the Euromoney Project Finance Deal of the year in the Telecommunications sector. Fidelity Bank, GTBank, First Bank, Access, and UBA Plc were chosen due to their $650 million...

  • Posted February 27, 2012
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  Nexen Announces First Oil at Usan

  Nexen Inc. (TSX, NYSE: NXY) announced yesterday that first oil has been produced from the Usan field, offshore West Africa. The Usan floating production, storage and offloading (FPSO) vessel, of which Nexen has a 20% working interest,...

  • Posted February 25, 2012
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  Nigerian Stock Exchange Watch: Banking Sub-Sector On a Roll, ASI Up 0.34%

  Unrelenting demand for undervalued banking stocks saw the bourse edge up 0.34% as the All Share Index closed at 20,495.92. All the major sub-indices were up today including Banking (+1.59%), Insurance (+1.03%), Oil and Gas (+0.33%) and...

  • Posted February 24, 2012
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  Skye Bank inaugurates funds transfer service for W’Africa

  Skye Bank Plc has introduced a funds transfer service within its network of subsidiaries in Nigeria, The Gambia, Sierra Leone and Guinea, in order to boost trade and facilitate payment in the West African sub region. The...

  • Posted February 24, 2012
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  Ondo State Bond Oversubscribed by N 2.71 billion

  After just one week, the Ondo State N 27 billion bond offering has been oversubscribed to the tune of N 2.1 billion. The governor of Ondo, Olusegun Mimiko, disclosed this yesterday in Akure whilst signing into law...

  • Posted February 24, 2012
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  Chevron delays Nigeria plant expansion

  Chevron Corp has pushed back the expansion of a natural gas processing plant in Nigeria, originally slated for this year, by another three years, according to its annual report, which also revealed it was exploring for shale...

  • Posted February 24, 2012
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  Nigerian Breweries Rewards Shareholders with N3 Dividend for 2011 FYE

  Nigerian Breweries, makers of Star beer, have announced a N 3 dividend to reward its shareholders for the 2011 financial year. The dividend represents a yield of 3.06% on its current share price of N 98. Nigerian...

  • Posted February 24, 2012
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  Nigeria, Kenya seal pact on capital market growth, financial crimes

  THE Securities and Exchange Commission (SEC), yesterday, signed a Memorandum of Understanding (MOU) with the Capital Market Authority of Kenya, under an agenda scripted by the Federal Government to tackle financial crimes. The MOU, which was signed...

  • Posted February 24, 2012
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  Japan Provides N 2.42 Billion Aid for Potable Water Accessibility

  The Japanese International Cooperation Agency (JICA) has provided a N 2.42 billion grant to Nigeria in order to increase access to potable water in Kebbi, Niger, Taraba, Ondo and Enugu. On hand to sign the agreement were...

  • Posted February 24, 2012
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  Former KBR CEO Stanley Gets 2 1/2 Year Prison Term in Nigerian Bribes Case

  Albert “Jack” Stanley, the former KBR Inc. (KBR) chief executive officer, was sentenced to 2 1/2 years in prison for bribing Nigerian officials to win $6 billion in natural gas contracts for the company and its partners. U.S. District...

  • Posted February 24, 2012
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  Federal Government places tough Economic Sanctions on Food Importers, Encourages Local Producers

  The Federal Government has moved to ban the importation of Cassava flour into the country in a bid to incentivize local producers of the commodity. According to a circular titled “Fiscal Policy Measures 2012” signed by Batari...

  • Posted February 24, 2012
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