Africa needs $200bn yearly energy investment — IPPG
•Africa Energy Bank to start operations in October — Farouk By Udeme Akpan Africa needs more than $200 billion annually in energy investment by 2030 to develop oil and gas, expand electricity generation and distribution, and grow clean energy, Chairman of the Independent Petroleum Producers Group (IPPG), Adegbite Falade, has said. Falade, who spoke yesterday at […]
Why investors have more preference for stocks
A lot of people invest in stocks rather than they do in bond because of its capital appreciation potential, which enables the investor to make very good money within a very short period.
Complaints and Investigations
I bought shares worth N5, 000 from DAAR Communications Nig. Ltd. in 2005 or 2006. I paid the money through UBA, but since then, I have not been notified. Does it mean that before buying shares, somebody must have a Stockbroker? Or is it that my money is gone? (Christy, Bayelsa State)
Shell’s $2.4bn Gbaran projects to boost gas supply
Shell Petroleum Development Company of Nigeria Limited, SPDC, operator of the Nigerian National Petroleum Corporation, NNPC/SPDC joint venture, has disclosed that its planned $2.4 billion investment in the Gbaran-Ubie Phase Two project will ensure 100 per cent capacity utilisation of the plant.
NIMASA serves detention order on NLNG vessels
The row over the payment of levies between the Nigerian Liquefied Natural Gas Company Limited, NLNG, and the Nigerian Maritime Administration and Safety Agency, NIMASA, took a new dimension at the weekend, as the latter served a detention order on vessels belonging to NLNG for none compliance to pay $20 million outstanding debts.
TCN attributes 1,598MW drop in power to pipeline vandalism
The Transmission Company of Nigeria (TCN) has said that the sudden loss of 1,598 mega watts of power on Sunday is due to gas shortages resulting from the vandalism of two major gas pipelines supplying gas to eight power plants in the country.
Nigeria secures N128bn from equipment manufacturers
The Nigeria Content Development Monitoring, NCDMB, said the country has secured over N128 billion ($800 million) investments from oil and gas equipment manufacturers and their representatives for the next three years.
Why bank fraud is on the rise, by SFU boss
Commissioner of Police in-charge of Special Fraud Unit, SFU, Mr. Tunde Ogunsakin, has attributed lack of well equipped forensic laboratories, data base of criminals, inadequate legislation and collaboration with private sector, as well as international collaborative framework as factors militating against the handling of bank frauds.
Nigeria missing from global shale production
Nigeria is nowhere to be found in the growing list of shale oil and gas production in the world. In a recent report by the United States-based, Energy Information Administration, EIA, (statistical and analytical agency within the U.S. Department of Energy), the most prospective shale formations are found in a group of 41 countries.
GDP ranking: Nigeria moves 8 steps
The Minister of the National Planning, Dr Shamsuddeen Usman, said on Monday that Nigeria moved eight steps in global ranking on Gross Domestic Product (GDP) basis in the last three years.
Total commences $15bn Egina project
Total SA has commenced the development of the $15 billion (N2.4 trillion) Nigeria’s offshore Egina field as part of its plan to boost production.
Acquired assets will be efficiently managed – NNPC/NPDC
The Nigerian National Petroleum Corporation, NNPC, and its subsidiary the Nigerian Petroleum Development Company, NPDC, have expressed their readiness to professionally and efficiently operate the oil assets acquired from the Shell Petroleum Development Company, SPDC.
Resort Savings and Loans floats N3.5bn hybrid offer
Resort Savings and Loans (RSL) Plc has offered for subscription N3.5 billion ordinary shares from the stock market through a combination of Rights and Public offerings.
One Year After: Dangote and the stock market upward swing
Investors and other stakeholders could not have had a better yield than they are presently enjoying in the stock market, following the return to the full grip of the bulls on the market from the bearish era after a long spell of lull.
$32 BILLION JAPANESE GRANT Nigerian mining sector can benefit – Ekosin
That Nigeria is highly endowed with a large volume of solid minerals is no news. However, the sector has not made significant contribution to the nation’s Gross Domestic Product owing to a variety of factors. In this interview, Mr. Sunday Ekosin, who has been in the mining business for over 20 years, explains what is wrong with the sector; how to remedy the problems; and how Nigeria can benefit from the $32 billion Japanese African Development Fund
Nigeria, a better country for forex trading, says Igwe
The partnership between Mr. Oyeleke Toye of Cyber Konsult Ltd and its foreign partner, Mr. Ildar Nailevich, gave birth to InstaForex in Nigeria, a forex trading company aimed at enlightening Nigerians on the techniques and success of forex trading while ameliorating major challenges confronting industry players in Nigeria. Mr. John Igwe of InstaForex speaks to Saturday Vanguard Business on the rudiments of trading forex, among others. Excerpts:
