The Nigeria LNG Limited, NLNG, said it had spent over $21 billion as payment to Joint Ventures, JV, feed gas suppliers from inception till date, adding that 55 to 60 percent of this amount went to the Federation Account via its shareholding in the Nigerian National Petroleum Corporation, NNPC.

Indigenous mining firm, Promethean Resources, has commenced Nigeria’s first tin smelting plant in Gurum, Plateau State with an initial investment of about $20 million. This was disclosed at the weekend by the Managing Director of the company, Mr. Demola Gbadegesin, during a visit of the Minister of Mines and Steel Development, Mr. Musa Sada, to the company’s office in Abuja.

On the top 10 performing stocks last week were the shares of Guinness Nigeria plc, Vono Products Plc, Livestock Feeds Plc, Honeywell Flour Mill Plc, UAC of Nigeria plc and Airline Services and Logistics, ASL Plc. Others were National Aviation Handling Company, NAHCo plc, UBA Capital Plc, NPF Micro-finance Bank Plc and Beta Glass Company Plc.

Plaintiff in the suit before a Federal High Court sitting in Lagos, challenging the contract awarded to Samsung Heavy Industry Nigeria by Total Upstream Nigeria for the engineering, procurement, construction and commissioning of the Egina FPSO, has accused the defendants of frustrating the suit.

The Director General, Standards Organization of Nigeria (SON), Dr. Joseph Ikem Odumodu, entered his second year in February 2012 and started talking something quite different from his administration’s Six-point Agenda: a National Quality Policy which he said is vital and urgent for Nigeria to take solid stand on global trade.