THE total annual demand for clean products in Africa has been put at about 75 million metric tonnes with Nigeria accounting for almost a third, even as significant infrastructure requirements challenge the continentâ€™s downstream operations, including refining, local shipping, storage, pipelines and haulage.Read More
ATAMUNO Ajubo Atamunolowuari, the managing director and founder of Midis Energy Services Limited, a leading service provider in the upstream sector of the Nigerian oil and gas industry has been listed in the 2009 edition of the International Whoâ€™s Who Historical Society of professionals.Read More
UMBRELLA body for senior staff in the nationâ€™s petroleum sector, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has the federal government full deregulation of the down stream sector of the petroleum industry, without putting in place necessary facilities to make it, warning that anything short of putting the facilities in place would spell doom for the nation.Read More
NIGERIAâ€™S Senate is working on legislation to create a sovereign wealth fund aimed at softening any impact falling oil prices may have on the Opec member’s economy, Finance Minister Mansur Muhtar said.Read More
OANDO has announced a N3.8bn profit (near US $24 million) for the six_month period ending June 30, 2009, representing a 4% increase over the same period in 2008. Against the background of the global economic downturn, the profit underlines Oandoâ€™s resilience, and vindicates its diversification and growth strategy.Read More
It is a welcome idea , provided the CBN in its investigation has discovered that the former management of these five banks were not capable to lead the bank to greater height. Our shareholdersâ€™ group is in support of the sale of the shares to be created following the bail out of N400 billion given to these banks. But if the move by the CBN is to sell the entire banks, that is, selling both existing shares and the new ones to be created to foreign investors, then we would resist it to the fullest.Read More
Olive Microfinance Bank Limited has entered into a strategic partnership with Titanium Standard Resources in its pursuit of grassroots development, as it is committing about N20 million start-up loan to empower graduates of a vocational institute in the country.
The company also introduced a new product that is designed to cater for the needs of artisans and cooperative societies in the country.
The 3rd Enterprise Exhibition organised by the Bank of Industry (BOI) and Compass Consulting UK Ltd has been scheduled to take place from September 7 to 11, 2009 in Abuja and Lagos.Read More
Investorsâ€™ woes were heightened last week, as the value of their investment in quoted securities on the Nigerian Stock Exchange (NSE), dipped by N334.89 billion.Read More
The global economy is emerging from a deep downturn but the recovery will be sluggish and unwinding stimulus measures too soon could derail an upswing, IMF Managing Director Dominique Strauss-Kahn said on Friday.Speaking at a Bundesbank conference in Berlin, Strauss-Kahn expressed concern about the risks of a rise in unemployment, which he said could lead to a decline in potential growth and social consequences he said were â€œeven more worrisomeâ€.â€Read More