Equity investors lose N4.9trn, as market uptrend reverses
By Peter Egwuatu The Nigerian stock market reversed its upward trajectory last week with investors losing over N4.915 trillion of their investment listed on the Nigerian Exchange Limited, NGX. The development was driven by a sustained profit-taking move across major sectors. Consequently, the NGX market capitalisation, which represents the total value of stocks listed on the […]
NLNG rakes in $10bn in 2011
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.
Lawmaker lauds PPPRA over Swiss firm suspension
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.
Shell commences repair of Nembe Creek Trunkline
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.
PHCN gets 21-day ultimatum to refund N378bn
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.
American investors to set up tractor factory in Nigeria
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.
