Businessday Nigeria Archive for March 2010

Monday, March 29, 2010

FERMA says it needs N1trn to maintain 35, 000km roads

Barkindo may proceed on compulsory leave over NNPC investigation

Russian bank nears brokerages deals in push to dominate Africa

Bharti awaits green lights for Zain deal

Actis, partners to build $100m shopping mall in Ikeja

Jonathan restates commitment to credible election

Ghana refinery gets Nigeria off-take deal

Zenith Bank earns N277.3bn in Q4, gets CBN approval

Why CBN recalled N200bn agric development fund, by Njeze

Analysts question huge recurrent budget spending

Sunday, March 28, 2010

2011: Atiku reactivates structures, distributes campaign vehicles

Babalola, others jostle for remaining ministerial slots

National Assembly moves to curb corruption in revenue generation by MDAs

Experts say increased budget will help spend way out of distress

ERA tasks acting president on gas flaring

FG awards N8.6bn contract for construction of second Liverpool Bridge

Jonathan succumbs to political intrigue over Aganga’s ministerial nomination

CBN begins screening of banks’ Q4 results

Otudeko, Hassan-Odukale, Chikelu, Osibodu, Sankey to lose directorship positions in banks

Competence, not politics, should count in portfolio allocation, say Nigerians

Thursday, March 25, 2010

India’s Bharti close to signing $9bn Zain Africa buy

ASUU threatens mass protest against Iwu’s re-appointment

Committee on Jos crisis presents interim report to Jonathan

Naira loses 109k over CBN’s inability to meet forex demand

EFCC declares Bayelsa finance commissioner wanted

Appeal court removes Joy Emordi, confirms ANPP candidate winner

Senate passes bill to amend 1999 constitution

Distressed banks need N1.5trn to meet CBN’s capital requirement – Renaissance Capital

Fears of inflationary pressure as N/Assembly tops 2010 budget by N500bn

Election assessment group lists path to credible polls

Wednesday, March 24, 2010

N2.4bn scam: Court remands Bayelsa accountant general, 2 others

Bharti Airtel poised to take over Zain’s African telecoms business

No rift between PDP, Jonathan – Alkali

Lagos to issue N50bn bond, indicative coupon: 13-14.5% - Rencap

NBA condemns NJC’s ‘interference’ on Sokoto guber poll ruling

C/River debunks report on Imoke

Rewane, Teriba, Keshi urge sectoral, entire economy linkage

CBN gets tough on single digit inflation

Investors will closely watch allocation of portfolios – experts

Tax break spurs interest in Nigerian corporate bonds

Tuesday, March 23, 2010

Senate may vote to amend 1999 constitution today

Atiku may return to PDP in April

NNPC forum creates ‘war room’ to tackle electricity challenge

Lagos floats second N50bn bonds for infrastructure

Nigerian expert, NASA meteorologist allay fears over acid rain

Stakeholders ask G8, G20 to help repatriate $120bn looted funds

Jos crisis: Police arrest 377 suspects, prosecute 162, says Ojukwu

FG may review weather minima at airports

Reps pass Asset Management Corporation Bill

Jonathan taps Goldman Sachs for new minister in 25-man list

Monday, March 22, 2010

PENCON assets to hit N4.5trn in five years

Jonathan and 2011: To run or to run away?

More foreign investors show interest in 300bpd Green Refinery

Lagos appeals for calm over change in weather condition

Foggy weather: FG mulls shutting airports

US launches flagship programme in Bauchi

Jonathan’s moves sending right signals to investors - Afrinvest

Uncompleted plants, not gas supply, bane of low power generation - Barkindo

Etisalat Nigeria sees business turning the corner in 2011

Jonathan rebuffs PDP on selection of new ministers

Sunday, March 21, 2010

Understanding Jonathan and his politics

FG to introduce anti-bomb, terrorist squad at ports soon

Maritime operators seek appointment of professional in transport ministry

BryMedia still hopeful over NITEL

CFA-denominated bonds boosted by negative inflation: Implications for West African investors - Rencap

Rivers faults Niger Delta master plan

NERC urges proactive measures against electrocution incidences

Bharti ties up $8.3 bn funding for Zain deal

Ban on importation of powdered milk may kill dairy plants - stakeholders

Former ministers always laughed at Nigerians

Saturday, March 20, 2010

Re-opening of Ajaokuta, NIOMCO depends on 2010 budget, says Madueke

Cabinet: PDP may delay list

Remain focused, Mustafa urges services chief and staff

Thursday, March 18, 2010

TUC, Oshiomhole, Mimiko, Falae, Balarabe Musa insist on electoral reforms

FG to seek fresh NITEL bids if sale collapses

AMC not panacea for full recovery of capital market – SEC DG

Cabinet: AC asks Jonathan not to succumb to governors’ pressure

Why Nigerians welcome cabinet dissolution

Angola seeks to surpass Nigeria in international bond market

AD, CPP, others, hail INEC’s schedule

World Bank sees Africa economies rebounding in 2010

Court voids FG’s cancellation of 2.3 GHz license auction

Jonathan looks to technocrats as cabinet list may be ready Tuesday

Wednesday, March 17, 2010

Jonathan, Mark laud Anambra people, optimistic of credible 2011 elections

13 dead, five injured in fresh attack on Plateau village

At last, the political era of Goodluck Jonathan

Punish those behind Jos crises, Bankole tells Jang

Nigeria leads in crude oil production in Africa

FSRCC moves to protect depositors’ funds

Why former NSA to the president was sacked

24 former ministers may return to new cabinet

Banks’ cautious disposition, not liquidity, sustaining credit squeeze

Global security agencies on alert as Jonathan dissolves cabinet

Attackers kill 12 in renewed fighting in Jos

BREAKING NEWS: Jonathan sacks Ministers

Jonathan sacks Ministers

Tuesday, March 16, 2010

FG says bomb blast won’t deter post-amnesty programme

U.S. lauds FG on Uwais committee report

2011: INEC rolls out election timetable

Ministers jittery as cabinet dissolution looms

Court bars Lagos lawmakers from investigating Fashola

AC asks MEND to give peace a chance

Reps approve five special advisers for Jonathan

Jonathan directs agencies to fast track implementation of post-amnesty programme

FG endorses more tax waivers for bonds market

Why banks are reluctant to lend to real sector - analysts

2011 polls: INEC releases two provisional dates

Monday, March 15, 2010

Tribunal dismisses motion to stop Obi’s swearing in

2011: Governors divided over Saraki’s ambition

MEND threatens attack on French oil firm

Ruma shut out of N60bn agric contract details

CBN moves against banks’ hidden charges

How Odimegwu’s wife was kidnapped, by Imo police boss

Court rules on Tuesday in suit to restrain House from probing Fashola

SEC summons NSE, seeks clarification on succession plan

One killed as bomb explosions jolt amnesty deal

CBN to phase out universal banking by September 2011

Sunday, March 14, 2010

Outcry over Halliburton fails to dampen appetite for bribe

Leaderhip, bane of Nigeria, say Utomi, Ajagu

2011: PDP placates Jonathan

Checking white collar fraud in The need for a whistleblowing policy

NCP sets up panel to review NITEL sale

Nigeria, Ghana, Côte d’Ivoire move to integrate capital markets

Interbank rates rise on big cash outflows

FG to disburse $1bn to three tiers of govt. tomorrow

Nigerian executives say business environment still tough

Heerema, major shipbuilder, quits Nigeria over corrupt contract process

Saturday, March 13, 2010

FG releases N96.5 million to support Mass Literacy programme

National Assembly in support of banking reforms -Mamadi

Jonathan approves $1 bln disbursal from oil savings

Court voids Dangote's election as NSE president

FG sets up panel to probe Nitel sale

Thursday, March 11, 2010

Oshiomhole denies attacking Jonathan

Birom women protest Jos killing at National Assembly

How our kits, kins were massacred in Jos, by survivors

AC slams PDP over N11.5bn secretariat project

Senate passes bill on former officeholders’ remuneration

Senate approves 5 special advisers for Jonathan

First Bank Eurobond surges to an all-time high of $100.75

Abandoned NIPP containers threaten 6,000mw target

Stakeholders seek probe into infractions of operators, regulators

Wednesday, March 10, 2010

Agriculture key to Nigeria’s growth plans, says Jonathan

NLC urges Jonathan to punish perpetrators of fuel scarcity

Black out imminent as Shell announces temporary closure of gas plants

Ibori held UK accounts, his agent was prosecuted for fraud, UK court hears

Paralysis of African heavyweights - Nigeria security chief sacked in presidential tussle

Duke woos Nigerians in U.S. over 2011 presidential bid

Why BPE director general was suspended

Forex round-tripping reignited as parallel, official rates disparity widens

Nigerians demand end to ‘invisible presidency’

SEC launches probe into N7.5trn equities crash

Tuesday, March 09, 2010

Jonathan seeks Senate nod to appoint five advisers, fear grips ministers

Jonathan’s onslaught: Treading the minefield of an unholy alliance

Senate, Reps urge probe of renewed Jos crisis

Lukman links fuel scarcity to legislative deficiencies

US, rights group urge FG to investigate Jos killings

Council asks Accenture to hunt for new NSE CEO

FG assures deregulation will eliminate cartel’s control

PIB: No further investment in Nigeria, say IOCs

Bailed banks’ return to profitability may take three years - analysts

Governors call for fuel subsidy removal

Monday, March 08, 2010

Babalola says FG needs $5bn annually for optimum power supply

Soyinka wants Turai prosecuted for ‘kidnapping’ Yar’Adua

Property price drop in Ikoyi, others averages 29% in two years

2009 budget: FG scores agric, police affairs high

12 ‘wisemen’: Sack Lukman, Osotimehin, Egwu now, Jonathan told

Appeal court upholds Daniel’s election in Ogun

Former Edo speaker, deputy asked to return Assembly property

Jos: US, Britain, France seek prosecution of perpetrators

Severe bureaucratic hurdles stifle decentralization of power distribution

Jonathan sacks Muhktar, reinstates Gusau as NSA

Sunday, March 07, 2010

CBN mops up N100.22bn in February

Army arrests 25 suspects over illegal oil bunkering in Ogoniland

FG, states parley on execution of critical projects

Crude oil lifting earns $33.905m in nine months

Why governors dumped Jonathan

How Imoke fractured his hand on Obudu Ranch Hill

Stanley Macebuh, founding father of modern journalism dies

Why US is supporting Jonathan – envoy

NNPC unfolds 18-month transformation plan

CBN to anchor emerging financial system on borrowers’ credit history

Saturday, March 06, 2010

Why AMC is being delayed by CBN

World Bank Commends Nigeria’s Commercial Agriculture Development Project

Interbank rates hit multi-year low

Thursday, March 04, 2010

Edo LG bosses remain suspended, says Oshiomhole

Reps committee asks Jonathan to handover NITEL to preferred bidder

Brass LNG marches towards FID, invites contractors

Fashola commissions 12.45 megawatts IPP to boost water supply

Militants attack Agip oil facility

Shell aims for ‘New Nigeria’ at Qatar’s $19bn plant

Senate satisfied with Jonathan’s action

86% new NNPC top managers are northerners

Sustain Nigerians’ goodwill, act now, Danjuma tells Jonathan

Why Nigeria’s oil sector is lagging behind Angola’s

EFCC charges Adamu with embezzling N15 billion

Wednesday, March 03, 2010

How liquidity squeeze stabilises rates, by Renaissance Capital

Resident doctors stay off LUTH

Six-man ministerial team to Saudi gives report to ECF

FERMA lobbies PPPRA over 5% fuel tax to maintain roads

FG, labour meet over modalities for takeoff of deregulation

Bankole denies coup threat

How governors saved Yar’Adua’s job

FEC silent on Yar’Adua’s health

CBN in self cleansing, gives impetus to sector reforms

Lawyer seeks media access to ailing leader

Tuesday, March 02, 2010

Amnesty: Nigeria produces 2.5 mbpd – NNPC

Dangote signs $95m contract with Siemens over Ibese gas turbines

Yar’Adua: AC hails Nigerian army

House in rowdy session

FG probes agric ministry, NNPC projects

Yar’Adua: Day of decision for ECF

FG to roll out framework on deregulation soon

Jonathan wining power struggle as Yar’Adua remains incommunicado - Eurasia

CBN reduces standing facility deposit rates to boost domestic lending

Yar’Adua: FEC to raise medical panel today

Amaechi sacks advisers, queries commissioners for absenteeism

Three reporters seized in Niger Delta: police

The culture of excuses

Monday, March 01, 2010

EU urges Jonathan to foster stability, welcomes return of Yar’Adua

22 ships carrying 374,339 tons of petrol arrive Lagos ports

Boko Haram: 17 police officers detained over shooting

Truth over Yar’Adua’s health will soon prevail, says Peterside

Will NSE Council get its ‘balls’ back?

CBN moves to stimulate long-term lending to the economy

NBA urges Jonathan to disregard First Lady

Ndukwe’s successor to emerge this week

Jonathan consolidates on power, constitutes eminent Nigerians’ council

Akunyili to cabal: Let Yar’Adua speak to Nigerians

Chilequake death toll over 700 as rescue ramps up

Sunday, February 28, 2010

Committee recommends immediate implementation of CTN

Global Infrastructure to return to Ajaokuta, Itakpe

Senate group may table motion on access to Yar’Adua

Yar’Adua: US charges Nigerians to take control of their destiny

Yar’Adua: Financial market still inches upwards

NNPC, ISAN at daggers drawn over crude oil lifting

Amaechi begins town hall meetings, gives account of administration

Nigerian crisis dims hopes of image revival

Nigerians urge N/Assembly to invite Adeniyi, military

Okereke-Onyiuke eases Elakama out in Stock Exchange power play