Businessday Nigeria Archive for February 2012

Tuesday, February 28, 2012

President Goodluck Jonathan to pay more tax

Monday, February 27, 2012

‘We will add our global perspective to help change the market’

Ethiopia to host 13th world congress on public health

Why it’s worth keeping the cashless economy dream alive

Global cement demand to reach 4 billion tons by 2013

FG levy to kick-start textile Industry

New treasury system exposes civil servants’ shady deals

Thursday, February 23, 2012

New inflation rate could hurt income earners

Lagos forces petroleum tankers out of Apapa - Oshodi Expressway

Rising consumer sophistication pushes packaged food market

NAFDAC raises alarm over circulation of fake anointing oil


Nestle Nigeria stock reach a month low

Lagos govt offers advice ahead Lassa fever outbreak

Analysts neutral on NB Plc Stock price

NB Plc announces N3 dividend

Senate summons Okonjo-Iweala, Diezani, Oniwon

Importation costs Nigeria $10bn worth of export opportunities yearly

Wednesday, February 22, 2012

FG concludes oil firms’ licence renewal in March

AMCON, CBN, NSE, SEC addressing margin loan exposure

CBN’s agric lending scheme holds key to rice importation ban

Rising demand for FG bonds brightens deficit funding

5 new private varsities get FG nod

Naira gained due to offshore dollar inflows

Massmart could open up to 20 stores in Nigeria

Labour wants FG to revert fuel price to N65

Econet seeks $3.1 billion damages from Bharti Airtel

150,000 barrels of crude stolen daily

Money market rates moderate downwards across all tenors in January

Senate queries 25 contractors in FCT

NCC to enforce new regulations on quality GSM services

CBN moves to boost agric, power

Reps orders re-call of sacked AfriBank staff

Four new international airports’ terminals coming in 16 months, says minister

Lassa fever epidemic to gulp N500m

First bank reaches highest close in six months

Tuesday, February 21, 2012

Stockbrokers pay N256bn margin, underwriting loans

Shell reduces hunger for Nigerian oil, gas exploration

Jonathan sends N4.648tr revised 2012 budget to NASS

Nigeria seeks $3 billion loan from China

FG, Exxonmobil sign agreement on oil lease

Shoprite sees scope for 700 stores in Nigeria

Bank of America predicts cut in Nigeria's 2012 Growth Estimate

CBN gives N25m to Madalla bomb victims

UBA plans to acquire banks across Africa

Shell's appetite for Nigeria exploration reduced

Etisalat CSR centre organizes conference aimed at sustainable development in Nigeria

"NNPC corruption blown out of proportion" - Oniwon

Monday, February 20, 2012

Oil reaches 8-month high on Iran, China moves

Post-merger banking sees competition on big accounts

Inflation rises on fuel subsidy removal, food

Akala applies for fraud charges to be dropped

We will increase food supply by 20m metric tonnes in four years - Agric Minister

ECOWAS to establish single currency in 2015

Ban on rice importation depends on NIRSAL success

Acumen funds to sink $25 Million in West Africa

Cosmetics production: A potential foreign exchange earner

Lagos: A megacity in darkness

Naira advances to three-month high on Dollar supplies

More severe rainfall coming, Lagos government alerts residents

Sunday, February 19, 2012

‘Nigeria’s fiscal, exchange rate outlook under threat, despite rising reserves’

One million jobs lost to closure of leather industries in Kano

High yields, naira attract foreign interest to T-bills

FG propose bill to enhance local productivity

Mobile Banking to create jobs

Saturday, February 18, 2012

Lagos state government to regulate telecom masts

First inland basin crude oil extracted in Anambra State

Friday, February 17, 2012

NNPC Strategic Reserves to cushion fuel scarcity

NAFDAC puts packaged water under the microscope

Murdoch replaces disgraced "News of the World"

Ivory Coast president is the new ECOWAS chairman

Why I liquidated Nigeria Airways, by Obasanjo

Mobile penetration to reach 82% by 2015

Thursday, February 16, 2012

Property owners under pressure over changing demand trend

Abdulmutallab gets life jail

Regional tension puts 2012 oil subsidy in doubt

Lagos shuts down 5 illegal casinos

Flour Mills raises 35 bn naira in rights issue

House to investigate N200bn ECOWAS tariff account

Deficit broadens in 2012 amended budget

Africallia Forum 2012 to explore opportunities for West African SMEs

ABSA Capital sees huge potential in Nigerian market

Japanese firm to recycle cars in FCT

Privatisation: PHCN workers turn prayer warriors

NNPC make $460million disappear

Wednesday, February 15, 2012

Desire to hit infrastructure target explains fresh FG’s fresh borrowing

FG revises 2012 budget, cuts proposed figure by N100bn

Boardroom squabbles, others stall new banking structure

Stock market takes N107bn off investors’ portfolio value

Multichoice Nigeria moves to develop Youth Sports

World bank President set to step down

Forex reserves hit 6-month high

NDDC to increase rice production

Jonathan needs N1.3 trillion loan for developmental projects

Tuesday, February 14, 2012

Notore ready for $300m IPO to build second plant at Onne

Job creation: Jonathan seeks Senate approval to borrow $7.9bn from World Bank

RenCap set to shake-up Nigerian bond market

AMCON begins sale of nationalised banks

First Bank shares rallies most since December

Significant growth opportunity for African ETF's - Absa Capital

88 oil marketers to appear before senate committee

American energy trade delegation in Nigeria today

Inspector General of Police admits extra-judicial killings

Festac youths protest after four weeks darkness

President Jonathan inaugurates the SURE board

Monday, February 13, 2012

Insurers escape millions of naira claims on Monday’s rainstorm

Unqualified logistics firm got subsidy from N3.2bn fuel import

Official: 112 million Nigerians are poor

Water scarcity hits Aba

Naira eases on importer demand for dollars

Growth in cashew industry could create 300,000 jobs

The Pharmaceutical sector as a bad joke

Electricity bills to go up in April

'60.9 percent of Nigerians are poor' - NBS

Sunday, February 12, 2012

AMCON may extend loan restructuring bid to DFIs

New funding strategy frees agriculture from poor budgetary allocation

Plunge in bond prices piles pressure on bank earnings

Rice consumption to reach 35 million tonnes

Development Finance Institutions run to AMCON

Saturday, February 11, 2012

Akwa Ibom seeks partnership with Kosovo in entrepreneurship development

Friday, February 10, 2012

Bharti's Africa operations narrows net loss to $52 million

CBN donates N100 million to Kano bomb blast victims

Interbank rates rises on NNPC cash withdrawals

Naira hits two and half month high

FCMB completes Finbank acquisition

Kabiru Sokoto runaway bomb suspect recaptured

Cost of security takes toll on Nigerian economy

NSE All-Share Index declines 0.3 percent

Liberia sends petition against NNPC

Thursday, February 09, 2012

Singapore’s Olam buys Nigeria biscuits maker for $167m

Reps fault overpayment to oil importers

Profit warnings highlight persisting risk in bank stocks

NSE All-Share Index declines 3 percent

Naira Advances Third Day on Oil Company Dollar Sales

UBA suspends plans to sell shares

OPEC lowers global oil demand further

'Agriculture is a business' – Adeshina

Kalu, Alli Head Panel on Refineries

House to Probe Amnesty Programme

Why I accepted to serve, by Ribadu

Singaporean firm buys Nigerian biscuits' company

Wednesday, February 08, 2012

Oil corruption threatens Nigeria, Angola, stifling growth – agency

Manufacturers growth challenged by insecurity

GE to construct 10,000mw power plant in Nigeria

Qtr-1 2012: UBA forecasts N15.1bn pre-tax profit

UBA shares fall five percent

Korean Air first to operate latest Freighters

Nigeria set to become net exporter of fertilizer by 2016

Oil corruption is a threat to Nigeria Says Global Witness

Naira hits five-week high against the dollar

Kano Business Mogul Abdullahi Dantata is dead

Ribadu heads petroleum revenue task force

FCTA ready to launch $2.6bn World Trade Centre investment

Bharti Airtel appeals court verdict

Tuesday, February 07, 2012

Nigeria to ignite potential with GDP rebasing

CBN plans single digit rates for women-owned businesses

Insecurity, oil price threaten retail market growth

Bio-Organics Nutrient asks FG to ban importation of locally-available raw materials

T.Y Danjuma foundation empowers NGOs with N1 billion

CBN wants more women in top echelon of banking

Nigeria needs $4 million to clean up toxic lead

First Bank named number one bank brand in Nigeria

Sam Aluko dies

Monday, February 06, 2012

NCC moves to revive fixed line sub-sector, to issue new licences in 2013

Lagos seeks private sector investment in infrastructure

Nigeria loses 4.8mb oil to bunkering in Nembe trunkline

The Presidency allays fear of possible fuel scarcity

Chevron's rig fire enters fourth week

FG to partner Thai institute on cassava development

NSE new guidelines divide stock brokers

Sunday, February 05, 2012

CITN lauds Jonathan for assenting to tax bill

Cautious optimism trail rise in FX reserves

Nigerians want lawmakers to account for huge expenses

NCC to issue licences in 2013

Militants claim attack on Eni oil pipeline

MEND claim attack on Nigeria Eni oil pipeline

Saturday, February 04, 2012

NSE considers reduction in listing requirements

West African crude oil differentials steady

Friday, February 03, 2012

Interbank rates ease on budgetary inflows

Forex reserves jump to a high

Nigeria to issue refinery licences

African Top Central Banks Turn on Governments to Curb Prices

MTN stocks fall with impending lawsuit

Thursday, February 02, 2012

Nigeria’s first comprehensive Cancer Centre to cost N10bn

Yield on Nigeria’s Eurobond up on Western market crisis

Private equity investment in Nigeria, S/Africa reaches $3bn

Etisalat says may sell African towers

CBN stabilization strengthens the Naira

Nigeria to auction Treasury bills

Wednesday, February 01, 2012

NSE to lower listing requirements to attract more firms into capital market

BPE opens power transmission to investors

Cash solid GE to invest in Nigeria’s rail, energy

N400bn to be cut off 2012 recurrent budget

Naira steady as oil firms sell dollars

Tuesday, January 31, 2012

Alleged N40bn fraud: Court acquits, discharges Bankole, Nafada