Poly Products Nigeria Plc, a manufacturer of polythene and other plastic products, recently disclosed plans to delist from the Nigerian Stock Exchange. In this interview with Vanguard, Mrs. Funmi Ajayi-Tomori, a Director in the company, gave an insight into the delisting plan, arguing that quoted companies are still burdened by excessive charges from the regulatory authorities among other things. EXCERPTS
The Nigeria LNG Limited, NLNG, Nigeria’s major producer and exporter of liquefied natural gas, last year realised over $10billion despite the continued global recession.
The former President of the National Union of Petroleum and Natural Gas Workers, NUPENG, Comrade Peter Akpatason, has commended the Reginald Stanley-led management of the Petroleum Products Pricing Regulatory Agency, PPPRA, for instituting transparency and sanity in the operations of the agency.
The Shell Petroleum Development Company of Nigeria Ltd, SPDC Joint Venture has commenced repair of the Nembe Creek Trunkline, NCTL, after shutting it down on May 2nd because of incessant crude theft activities.
Power Holding Company of Nigeria, PHCN, has been given a 21 day ultimatum to refund the sum of N378billion allegedly collected from electricity consumers in the country for the purpose of meter maintenance.
As the Nigerian economy continues to attract foreign investors, a group of Americans have concluded plans to establish a tractor manufacturing firm in Nigeria. This is in line with the vision of the federal government to diversify the nation’s economic base from oil to other sectors such as agriculture where the country has comparative advantages.
The management of Ibom Power Station said the plant has made significant progress in power generation since it began operations in December 2009, which peaked at 68 megawatts, MW in December 2011.
A Kano State-owned mortgage bank, the Dala Building Society, says it has disbursed N1.36 billion housing loans to no fewer than 2, 400 civil servants in the state. The Acting Managing Director of the bank, Alhaji Abdulnasser Abdu, told the News Agency of Nigeria (NAN) in Kano on Saturday that N480 million were disbursed 2,000 workers from May 2011 to date.
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has directed a team of gas experts to commence a weeklong tour of all gas installations and projects listed for the production of additional gas under the Gas Supply Emergency Programme.
Barely seven years after the much-talked about debt cancellation, the issue of debt over-hang is in the news again. Recent statistics released by the Debt Management Office (DMO) showed that Nigeria ’s total debt stock as at March 2012 was N6.8 trillion, which translates to $44 billion. Out of the total amount, N5.96 trillion ($38.3 billion) is said to be domestic debt and N919 billion ($5.9 billion) is external debt.
Talk about regional growth and development took centre stage at the second South–South Economic Summit which was held in Asaba, Delta State recently. The six states that make up the economic group with the acronym BRACED – Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta – said they wanted to see a restructured Nigeria where the central government is unbundled to strengthen the states for better service delivery.
Globacom Limited Friday introduced a unique, low tariff calling platform tagged Oloja, a variant of Glo Infinito tariff platform, for market men and women in Ogun State in the company’s bid to make telephony affordable to them.
Barely 24 hours that President Goodluck Jonathan set up an agricultural transformation implementation council charged with the responsibility of creating additional 20 million metric tons of food into the nation’s domestic food supply by the year 2015, Governor Babatunde Fashola of Lagos State Tuesday, led the federal delegation to the official kick off of rice processing factory.
Governor Babatunde Fashola of Lagos State on Wednesday called for the revival of the nation’s textile industries to boost job creation and expansion of the economy.
News
- The Stock Exchange mess
- Islamists flee as AU, Somali troops seize rebel stronghold
- Nnaji admits “gross deficit” in electricity, promise better days
- FG to conduct survey on energy requirement
- Father of quadruplets gets employment
- South Africa to buy crude from Nigeria – Motlanthe
- Experts call for one world government

