President Goodluck Jonathan on Wednesday in Bauchi said the federal government would intensify oil and gas exploration in the north-east zone to harness the resources for economic development. The president, who announced this during the launch of his north-east presidential campaign, said government was of the belief that oil and gas deposit were in the Lake Chad basin. He also…
Kenyan power generating firm, Iberafrica, plans to buy 320,000 tonnes of heavy fuel oil for its 110 megawatt (MW) power plant in the capital for use over the next 24 months, it said on Thursday. Several parts of East Africa's largest economy - which relies on hydro power for the lion's share of its electricity - are experiencing severe drought,…
The federal government has assured Nigerians in the Diaspora of a stable environment for rapid economic growth and development. Dozie Nwanna, Nigeria's acting High Commissioner to the UK, gave the assurance in London on Wednesday at the Conference of Ethnic Nationalities of Nigeria in the UK. Mr. Nwanna said the current efforts by the present administration in improving several sectors,…
9 February 2011 England manager Fabio Capello has admitted he faces tough decisions over his first-choice strikers after Ashley Young and Darren Bent scored the goals to beat Denmark 2-1 in a friendly international. Young, only recently converted from winger to striker by Aston Villa, came off the bench to win the game at the Parken Stadium here on Wednesday…
9 February 2011 Samson Siasia got off to a winning start as Nigeria coach as the Super Eagles defeated Sierra Leone 2-1 in an absorbing friendly Wednesday night in Lagos. The Eagles took the lead after a quarter of an hour when Olympique Marseille ace defender Taye Taiwo tucked away a penalty past John Tyre in goal for the Leone…
10 February 2011 South Africa's 2-0 victory over Niger in the 2011 African Nations Championship has put them on the brink of the knockout stages, despite the majority of the squad only competing in the third-tier of the game in that country. Premiership and First Division sides refused to release their players at this important time in the season, and…
9 February 2011 Having seen his side breeze into the knockout stages of the 2011 African Nations Championship (CHAN), Sudan coach Mohamed Abdallah says the best is yet to come from his charges. The CHAN hosts have recorded 1-0 victories over Gabon and Uganda in Group A, which mean they cannot finish outside the top two spots in the pool…
9 February 2011 South Africa warmed up for an Africa Cup of Nations qualifier against Egypt next month with a comfortable 2-0 friendly victory over Kenya in north-west mining town Rustenburg on Wednesday. Bafana Bafana (The Boys) dominated the first half and led 2-0 at half-time courtesy of goals from Leeds United striker Davide Somma in the second minute and…
An attack by suspected armed robbers on the facilities of the Africa Independent Television (AIT) and Ray Power 105.5 fm, Benin City station has kept the station off air. The suspected armed robbers numbering about 25 allegedly attacked and overpower the security men on duty, and tied them after inflicting injuries on them. One of the security men on duty…
The students of Olabisi Onabanjo University{OOU}, Ago Iwoye, Ogun State, yesterday called for the scrapping of the university’s Academic Staff Union of Universities {ASUU}, accusing the lecturers of intransigence on their prolonged strike. Addressing a press conference in Abeokuta, the state capital, Rufai Uthman, the students union president, in company of other executives of the union, said, “Lecturers should henceforth…
Mohammed Abacha, the governorship candidate of the Congress for Progressive Change (CPC) in Kano State, said his nomination as the party’s flag-bearer in the April elections is “an act of God.” Mr Abacha’s name appeared on the list of candidates displayed by the Independent National Electoral Commission (INEC) in Kano State, against earlier speculations that his closest rival, Lawal Ja’afaru…
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The Abuja Securities and Commodities Exchange (ASCE) is partnering with the CBN to embark on Warehouse Receipt Financing scheme for farmers. The group head, management services of the Exchange, Zaheera Baba-Ari, disclosed the plan in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday. Ms. Baba-Ari said that the scheme would enable farmers to use the…
Finance experts have said rising oil prices is good for the nation’s economy, even though it could have serious implications on the global economy. Bismarck Rewane, an economist with Financial Derivative Company, a finance firm, said “$100 per barrel of oil is ‘good’ for Nigeria but bad for the global recovery. Oil at over $100pb is bad for the dollar…
The Shell Petroleum Development Company, SPDC, has refused to name the proposed bidders as it divests from four of its oil blocks, after a similar exercise last year. Precious Okolobo, a spokesperson of the company, said there is no official comment on the process. However, some international dailies reported that final bids should have been conducted mid January, with winners…