Monthly Archives: February 2012

Nigeria attractive for investment despite security risks-FSDH

By NKIRUKA NNOROM Despite dangers posed by the present security challenges in the country, especially from the Boko Haram sect in the Northern part of the country, there still exists unequaled opportunities in the nation’s investment climate. This was the submission of analysts from an independent research firm, First Securities Discount House (FSDH) in their review of the economy and financial sector for 2011 and prognosis into 2012, titled ‘Growing Opportunities Amidst Challenges.’ The report stated that at 16 per cent yields to maturity on most of the bonds, in an environment where inflation forecast is in the region of 12 per cent, it was a ‘real’ return on investments. Besides, it emphasized that presently, the yields on one year Treasury bill stood at 20 per cent, while returns on medium term portfolio investment in the equity market was around 19.87 per cent.

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625mw lost to gas disruption

Gas supply to the  Escravos-Lagos Pipe line System (ELPS), which provides natural gas to key thermal power stations in the country, has declined by over 180 million standard cubic feet per day (mscf/d) in the last few days. This development has led to a big loss of electricity and power rationing nationwide.  A statement by the Ministry of Power said the Oben gas facility in Delta State supplying gas to the Western axis was yesterday shut  at the instance of the Shell Petroleum Development Company (SPDC) to carry out a leakage repair on the Ughelli-Rapele line

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Fed Govt empowers states to enhance power supply

The National Council  on Privatisation  (NCP) has given state governments the power to increase access to electricity by their citizens. It also wants them to enter  agreements with electricity distribution companies close to them and contribute to the funds required to rehabilitate or expand the network in their states.  The Bureau of Public Enterprises (BPE) spokesman, Mr Chukwuma Nwokoh, in a statement yesterday, said the capital contribution would be secured and repaid on terms agreed with the distribution companies.  He noted that the assets thus acquired would become the property of the distribution companies but would be  utilised within and for the benefit of the citizens of the relevant states.  NCP said: “The states will receive compensation within the ambit of the extant tariff methodology.  Excess capital costs, if any, will be borne by the state government.

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FG, NSE warned against compulsory listing for multinationals

By Michael Eboh The Federal Government of Nigeria, the Securities and Exchange Commission, SEC, the Nigerian Stock Exchange, NSE and other stakeholders have been cautioned on the need to exercise restraint in their plans to ensure compulsory listing for oil majors and multinationals in the Nigerian capital market. This warning was given by Mr

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