Stock market losses N1.9trn to profit-taking
•Analysts finger Dangote Refinery IPO By Peter Egwuatu The Nigerian equities market reversed bullish trend last week, as N1.9 trillion was lost to widespread profit-taking across major stocks. The market was bullish penultimate week, as investors gained N3.73 trillion on the Nigerian Exchange Limited, NGX. However, last week’s trading was characterised by heavy selling pressure […]
Lack of gas threatens N4.73tr OK FTZ investment
The Managing Director of the Olokola Free Trade Zone, OKFTZ, Mr. Luk Haelterman, has revealed that lack of gas supply to generate electricity in the Zone is threatening its N4.73 trillion investments.
KPMG to invest N16bn in Africa’s development
Consultancy firm, KPMG, said it would spend N15.5 billion ($100m) in Africa’s emerging market within the next few years.
Total blames water pollution on technical hitches
Total Exploration and Production Nigeria Limited, TEPNG, has blamed technical hitches for the recent incident of water and gas resurgence points, which was observed in an uninhabited area close to its onshore Obite gas production facilities, on the Oil Mining Lease, OML 58.
Consumers lose millions of Naira to power surge
Residents in Lagos State have decried the recent surge in electricity supply from the Power Holding Company of Nigeria, PHCN, which they alleged damaged their household and electrical appliances worth several millions of Naira.
$8bn investment in NIPP cannot generate 60,000MW – NUEE
The National Union of Electricity Employee, NUEE, has described the $8 billion invested in the National Independent Power Project, NIPP as inadequate for the power sector to generate 60,000 megawatt.
