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  • GE, BoI pledge $500m support for SMEs

    February 7, 2014 12:04 AM 40

    General Electric and the Bank of Industry have agreed to a $500m funding support for small and medium-sized enterprises in the area of infrastructure provision. Both parties said in a joint statement on Thursday that the new arrangement would bring about the creation of affordable financing solutions for the SMEs and accelerate the development of the nation’s

  • NNPC Contains Fire Outbreak at its Kaduna Refinery, Articles

    February 7, 2014 12:00 AM 26

    The Nigerian National Petroleum Corporation (NNPC) Thursday said that a fire incident that earlier broke out at the truck park of its Kaduna Refinery has been brought under control. It said in a statement in Abuja that the fire which consumed two tankers and also led to injuries for two persons was swiftly controlled, adding that production and distribution

  • Money fund assets decrease $1.06 billion to $2.705 trillion for the week

    February 6, 2014 11:46 PM 8

    NEW YORK, N.Y. - Total U.S. money market mutual fund assets fell $1.06 billion to $2.705 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets in the nation's retail money market mutual funds rose $4.93 billion to $922.72 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable

  • OPEC oil output rises in January

    February 6, 2014 4:48 PM 37

    Organization of the Petro¬leum Exporting Coun¬tries’ (OPEC) oil output has risen in January from December due to a partial recovery in Libyan supply and higher shipments from Iraq and Iran. Output from OPEC averaged 29.94 million barrels per day (bpd), up from a revised 29.63 million bpd in Decem¬ber, according to the survey based on shipping data and information

  • FG To Sell N90bn Bonds On Feb. 12

    February 6, 2014 12:11 PM 10

    The Debts Management Office ((DMO) says it will sell N90 billion Federal Government bonds on Feb. 12 The DMO said this in its "February 2014 FGN Bond Offer Circular" posted on its Website on Thursday. It said that the N90 billion worth of bonds comprised N45 billion three-year paper and N45 billion of 20-year paper It said that the bonds would mature

  • Reps commend PPPRA for N409bn subsidy savings

    February 6, 2014 10:47 AM 6

    The House of Representatives has commended the Petroleum Products Pricing Regulatory Agency for being able to save N409bn subsidy claims in 2012. The Chairman, House Committee on Petroleum Resources (Downstream oil sector), Mr. Dakuku Peterside, said the agency’s efforts in saving N409bn in subsidy claims in 2012 and the reduction in petroleum products

  • Rain of Rewards, Articles

    February 6, 2014 8:32 AM 18

    Solomon Elusoji writes about a remarkable Nigerian who continues to be honoured for his immense contributions to the economic and industrial growth of the nation To the sound of minty music and meaty applause from the crowd, he walked to the stage to receive the award. It was the second in just two months. So the crowds that gathered inside the conference

  • Ogun puts bank obligations at N35b after N20.3b repayment

    February 5, 2014 5:12 PM 12

    WorldStage Newsonline-- Ogun State government has said that at the end of December 2013, the balance of infrastructural loans taken under the Ibikunle Amosun administration is N35.6 billion. The administration has, since May 2011, already repaid approximately N20.3 billion in capital in line with its medium term financial strategy, the government stated

  • Eland Oil & Gas joins the producing ranks as Opuama starts up

    February 5, 2014 4:26 PM 12

    () has joined the ranks of London’s producers following the hotly anticipated start up at the Opuama field, within the OML40 licence in Nigeria. Production began on Tuesday 4 February, following successful testing and commissioning of the Opuama field’s facilities. Two wells are currently in operation and production is expected to stabilise at 2,500 barrels

  • SEC shuts offices of New Nation Finance House across Nigeria

    February 5, 2014 2:36 PM 17

    The Securities and Exchange Commission, SEC, has closed down offices of New Nation Finance House in seven states of the federation, the News Agency of Nigeria reports. New Nation Finance House is one of the leading fund management companies in Nigeria. Pamela Obioru, SEC’s Assistant Director and leader of the enforcement team, said in Lagos on Wednesday