2011 Budget: How Jonathan, Sambo bathe selves in billions
As government plans the removal of the fuel subsidy, and as President Goodluck Jonathan asks Nigerian to sacrifice for the future, a breakdown of the 2011 budget shows that there [...]
Business
December 24, 2011
‘Television, others consume 13% of US electricity supply’
The United States’ Consumer Electronics Association has published a study that shows domestic electrical devices account for roughly 13 per cent of the average US home’s electricity consumption, cellular-news reported [...]
December 23, 2011
NNPC resuscitates MoU with joint venture partners
The Nigerian National Petroleum Corporation (NNPC) and its joint venture partners, SHELL, Nigeria, Agip Oil Company (NAOC), Total and ConocoPhillips, have agreed to resume the execution of Biseni-Samabri Utilisation and [...]
‘Subsidy removal may heighten tension’
A businessman, Mr Soji Akanbi, has stated that President Goodluck Jonathan may lead Nigeria into a chaotic situation by removing the subsidy on petroleum products.
December 22, 2011
Simba trains Nigerians on inverter engineering
In its bid to continue improving its alternative electricity generation to Nigerians, the Simba Group has established ‘service kamps’ to train Nigerian engineers in inverter installation and services. Speaking at [...]
Nigeria can unlock economic potentials through major reforms – OBG
Nigeria’s efforts to unlock its economic potential through major reforms will soon yield results. This was stated in a report published by the global publishing, research and consultancy firm, Oxford [...]
Retrenchment: Unions threaten showdown with NNPC
The two labour unions operating at the Nigerian National Petroleum Corporation have threatened to shut down the operations of the corporation if the management goes ahead with its plan [...]
Millionaire Savings Promo: FCMB rewards winners
First City Monument Bank (FCMB) has rewarded 92 customers that have so far emerged winners of its ongoing FCMB Millionaire Savings Promo.
December 21, 2011
Schneider launches lighting solution
Schneider Electric, the global specialist in energy management, has launched its innovative LED based home lighting solution, In-Diya, in Nigeria. The launch, which took place with the unveiling of a [...]
Financial advisers see social media benefits decline
NEW YORK: Financial advisers in the United States are seeing fewer benefits from their use of social media, a survey by Aite Group showed on Tuesday. Out of the [...]
Developing nations should boost economic defences – IMF
Managing Director of the International Monetary Fund, Christine Lagarde has urged developing countries to shore up their defences, especially foreign exchange reserves, against a possible European recession next year.
Guinness commissions water project in Enugu
Guinness Nigeria Plc has commissioned the water of life project in Enugu State. The Head of Responsibility, Guinness, Mrs. Adrianne Nwagwu said the building of Water of Life Project was [...]
December 20, 2011
China’s home prices post worst performance
SHANGHAI: China’s home prices posted their worst performance this year with more than half of the 70 biggest cities monitored in November recording declines after the government reiterated plans to [...]
Crude oil heads for biggest weekly drop
NEW YORK: Crude fell, capping the biggest weekly decline since September, on concern that European economic growth would slow, curbing fuel demand, according to Bloomberg on Monday. Futures dropped [...]
Inflation remains at 10.5% –NBS
Nigeria inflation rate for November remained steady at 10.5 percent as recorded in the preceding month, the National Bureau of Statistics (NBS) said yesterday. NBS in it monthly statistical [...]
2012 budget: N161bn allocation to power inadequate – ECN
The allocation of N161 billion to the power sector in the 2012 budget proposal is totally inadequate considering the huge power deficit in Nigeria, the Director General of the Energy [...]
Senate wants BPE to address privatization problems
The Chairman of the Senate Committee on Privatisation and Commercialisation, Senator Olugbenga Obadara has urged the Bureau of Public Enterprises (BPE) to organise an all-stakeholders’ retreat which will address the [...]
Akwa Ibom to raise N200bn from capital market
Akwa Ibom State Government said it was ready to raise over N200 billion from the Nigerian capital market to beef up its infrastructural facilities that would spur industrial revolution in [...]
Subsidy removal: CBN down-plays inflationary impact
The Governor of Central Bank of Nigeria (CBN), Mallam Lamido Sanusi has said that the planned removal of fuel subsidy would not trigger very high inflation rate in the country.
Poor services: NCC waives sanctions for network operators
The Nigerian Communications Commission on Monday waived sanctions it had threatened to issue on telecommunications network operators over poor quality of service offered to subscribers across the country. In [...]
Shareholders urge Jonathan to review CBN’s reforms
FOLLOWING the hash economic realities, stakeholders in the nation’s capital market have reiterated their call on President Goodluck Jonathan to as matter of urgency review the
December 19, 2011
CBN, NBS import bills show $17bn discrepancies
Half year data on Nigeria’s import released by the Central Bank of Nigeria (CBN) and National Bureau of Statistics (NBS) shows $16.5 billion differences, Daily Trust can report. The [...]
Kaduna refinery trains 100 youths with N50m
Kaduna Refining and Petrochemical Company (KRPC) Limited has disbursed N50 million on the training of 100 youth under its Youth Empowerment and Skills Acquisition Programme (YESAP), the company’s Managing Director, [...]
Senate to implement report on privatisation
The Senate on Sunday said that there was no going back on the full consideration and implementation of the report of its ad hoc committee on privatisation and the [...]
We’ll take over any ailing bank –AMCON
The Asset Management Corporation of Nigeria has said that it will not hesitate to take over any distressed bank in the country. According to the corporation, it is ready [...]
Investors to earn more from inflation-linked bonds
Amid uncertainties in the stock market, investors can look forward to reasonable returns if they invest in the Federal Government inflation-linked bonds, OKECHUKWU NNODIM writes. Prospect iveinvestors in the [...]
Egbin power plant now generates 1,080MW
The Chief Executive Officer, Egbin Power Station, Ikorodu, Lagos State, Mr. Mike Uzoigwe, said on Sunday that the faulty plant – biggest in the country had been restored to [...]
Centre graduates 13,200 trainees, honours SMEDAN DG
In recognition and appreciation of the pro-poor progammes and activities of the Small and Medium Enterprises Development Agency of Nigeria [SMEDAN],
December 18, 2011
Fuel subsidy removal: The looming inflation
It is no longer news that the Federal Government has concluded plans to remove the controversial fuel subsidy after several years of debates. President Goodluck Jonathan took a firm decision [...]
How to start a profitable small business with little capital
Know your business Solid research and a firm understanding of the business landscape represent two of the most critical requirements in starting a profitable business. While some business consultants [...]
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