Elumelu’s Heirs Holdings commits $2.5bn to Obama’s Power Africa initiative

As part of his commitment to deliver affordable and accessible power to the continent, African business leader Tony O. Elumelu is committing US$2.5 billion...

Seplat Seeks LSE, NSE Dual Listing

In a bid to raise its financial capital-base, Nigerian indigenous oil company Seplat is seeking a dual listing on the London Stock exchange (LSE)...

Oando beats dividend forecasts as net profit rises by 527%

The board of Oando Plc has recommended the distribution of N5.1 billion as cash dividends for the year ended December 31, 2012, representing more...

International agencies invest N187 billion in Nigeria’s energy

Nigeria's development partners have invested about N187.44 billion ($1.17 billion) in the country's energy sector as at December 2012, under the Country Assistance Framework,...

External reserves remain stagnant at N48bn

The external reserves have remained stagnant at N48bn for over three months, an investigation by our correspondent has shown. It was learnt on Friday that...

Investors to take over NDPHC plants by June 2014

Successful investors will take over the 10 National Integrated Power Plants in June 2014, the Bureau of Public Enterprises has said. The Director-General, BPE, Mr....

FEC approves N420bn contract for development of Onne Port

The Federal Executive Council (FEC) has approved a 2.8 billion dollars (about N420 billion) contract for the development of the Onne Oil and Gas...

WorleyParsons shares rise on Nigerian oil deal

Shares in mining engineer WorleyParsons are up three per cent after a South Korean shipbuilding giant awarded it a $US100 million ($A105.97 million) offshore...

FG inaugurates GE’s $1bn power facility in Cross River

The Federal Government, Tuesday, flagged-off the construction of the General Electric’s (GE’s) $1 billion (about N160 billion) multi-model power manufacturing and services facility in...

Lekoil plots offshore OML 113 acquisition

Junior explorer Lekoil announced Tuesday that it is planning to acquire a 6.5-percent participating interest in the OML 113 block, offshore Nigeria, for $30...

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