Nairaland Forum

DailyPost is in possession of a leaked chat between former Aviation Minister, Femi Fani-Kayode and Publisher of Ovation Magazine, Dele Momodu on the state of emergency rule imposed on Adamawa, Borno and Yobe states.

President Goodluck Jonathan on Tuesday night made the pronouncement in an emergency nationwide broadcast.

Fani-Kayode and Momodu were however sharply divided in the conversation which they had on a Blackberry Messenger group. While the former was against Jonathan’s decision, the latter supported it.

Read More http://dailypost.com.ng/2013/05/15/exclusive-leaked-conversation-between-fani-kayode-and-dele-momodu-on-declaration-of-state-of-emergency/

The men of the State Security Service, have arrested the former Minister of the FCT, Mallam Nasir El-Rufai, who was travelling to Dubai, at the Lagos Airport.

His tweet, which was posted at 12.33pm this afternoon, read: “The SSS at the Lagos Airport tell me they have orders to detain me and prevent me from travelling… the waiting game starts…”



http://dailypost.com.ng/2012/08/08/sss-detain-mallam-el-rufai-murtala-muhammed-airport/

It is July, and we haven’t stopped showing our loyal fans that they mean a lot to us.As it is becoming our tradition, we will be giving out airtime to users of ALL Nigerian telecoms network this weekend.On previous Saturdays from 9am, we tweeted recharge pins randomly and the fastest fingers loaded them.
http://dailypost.com.ng/2012/07/06/the-fun-continues-saturday-win-airtime-all-networks-tomorrow-dailypost-giveaway/

PRESIDENT Goodluck Jonathan has justi-fied the deregulation of the petroleum sector as a necessary change Nigeria must make for government to make a significant impact in the lives of citizens.

Speaking to Prof. Jeffrey Sachs, Special Adviser to the United Nations’ Secretary General, at State House, Friday, he noted that the country’s 2010 capital budget was funded with borrowed money, the equivalent of which was used to fund the subsidy last year.
read more and leave your comments :http://dailypost.com.ng/2012/01/07/why-subsidy-removal-must-remain-jonathan/

GOVERNOR Adams Oshiomhole of Edo state, yesterday, reacted to the protest that trailed the removal of subsidy from petroleum product in Edo state and other parts of the country, saying that it was the right of the people to protest any government policy but however warned that it must be peaceful.

Oshiomhole who acknowledged that the nation is facing serious challenges which according to him will strengthen the nation’s democracy at the end of the day, frowned that the rumour that Hausa’s have been threatened to leave the state, just as he warned that Nigerians must avoid any action and speeches that tends to send wrong signals that the people is at war with each other.
read more and leave your comments :http://dailypost.com.ng/2012/01/07/we-must-not-destroy-nigeria-%E2%80%93-oshiomhole/

NO fewer than 30 people who were travelling from the southern part of the country to the North yesterday lost their lives in Okene, Kogi State after a fully loaded trailer nose-dived into a deep gully.

It was gathered that many of the travellers also sustained serious injuries in the accident that was said to have occurred when the fully loaded trailer suffered break failure and the driver lost control of it.
read more and leave your comments :http://dailypost.com.ng/2012/01/07/30-died-in-kogi-trailer-crash/

Arsenal have delayed their home Barclays Premier League fixture against Wolverhampton Wanderers on Boxing Day by 24 hours because of a proposed tube strike.

The match will now take place on Tuesday December 27th – a public holiday – at 3pm.

The proposed industrial action could affect London Underground services and cause travel disruption for people attending the match at the Emirates Stadium next Monday.
read more and leave your comments :http://dailypost.com.ng/2011/12/22/arsenal-postpone-boxing-day-match/

A hearing for Bradley Manning, the Army private suspected of being behind the biggest intelligence leak in U.S. history, began Friday morning but almost immediately went into recess after Manning’s attorney asked the investigating officer to recuse himself.

Attorney David Coombs said Lt. Col. Paul Almanza, the presiding officer, should step down.
read more and leave your comments :http://dailypost.com.ng/2011/12/17/wikileak-suspect-wants-recusal/

•Owners of privatised firms infiltrate the Senate •Report mysteriously dropped from Order Paper



There is an uneasy calm in the Senate over alleged plot to dump the report of its Ad hoc Committee on Privatisation and the probe of the Bureau of Public Enterprise.

Also, some of the owners of the privatised firms have allegedly infiltrated the Senate to halt the consideration of the report of its Ad-hoc Committee
read more and leave your comments :http://dailypost.com.ng/2011/12/17/privatisation-senators-angry-over-plot-to-kill-report/

A Federal High Court sitting in Lagos, southwest Nigeria this afternoon vacated an order of arrest issued against the Speaker of the Lagos State House of Assembly, Mr. Adeyemi Sabit Ikuforiji and his personal Assistant, Alade Atoyebi.

The decision of the court to vacate the order was sequel to an application made by the counsel to the accused persons, Mr. Tayo Oyetibo, SAN, Dr. Joseph Wurobike, SAN, leading nine other lawyers.
read more and leave your comments :http://dailypost.com.ng/2011/12/16/court-lifts-arrest-order-on-ikuforiji/

MRS Nigeria, an indigenous downstream oil and gas marketing company has disclosed to the Nigeria Stock Exchange that it expects q1, 2012 revenue to arrive at N 25 Billion. The company also forecasts net income to arrive at N 356 Million.

The Okomu Oil Palm Company has forecasted Q1, 2012 revenue to arrive upwards of N 2.68 Billion, and net income to arrive at N 1.075 Billion.

GTAssurance, former insurance subsidiary insurance arm of GTBank has informed the NSE that it is forecasting Gross Premiums to arrive at N 5 Billion for Q1, 2012, and a net income of N 368 Million.
read more and leave your comments :http://businessnews.com.ng/2011/12/13/earnings-forecast-nigerian-companies-report-q1-2012-predictions-to-nse/

Tonight is just like those that gets me pissed with myself. It is because PHCN has beaten to the game with power outage. I had made some masterstrokes and when I was beginning to build on that PHCN struck; whereas was given light for not more than fifteen minutes. Within this small timeframe, I just have to cram in more into it and achieve some goals but now I am wretched by pressure although imposed by me. The power dilemma makes Nigerian’s businesses globally uncompetitive.
read more and leave your comments : [urlhttp://businessnews.com.ng/2011/12/14/power-reform-and-nigeria%e2%80%99s-globally-uncompetitive-businesses/[/url]

In the midst of the news about the EU crisis, it’s worth pointing out that oil prices have quietly crept back over $100 a barrel. West Texas Intermediate is $102 as I write. Brent crude, which many argue is the more important figure, is $111. This is remarkable given how weak the global economic recovery has been.

Also of interest is the fact that the price of crude oil has been trending higher, even while the prices of most other commodities have been drifting lower.
read more and leave your comments :http://businessnews.com.ng/2011/12/14/oil-prices-have-quietly-crept-back-over-100-a-barrel/

Goldman has a new report out on The BRICs countries after 10 years, and how global markets will continue to evolve.

Remember, the BRICs are Brazil, Russia, India, and China — the four countries identified 10 years ago by Goldman’s Jim O’Neill as being the global growth-drivers of the next generation.

This new report discusses various themes, including the emergence of non-BRIC emerging markets, as well as a general flattening of income equality over the next several years.

Goldman also makes its prediction for what the richest economies will be in the year 2050.

According to the report, China will be far and away the world’s biggest economy, but on a per-capita-GDP basis, it still won’t even be as rich as Mexico.
read more and leave your comments :http://businessnews.com.ng/2011/12/14/worlds-richest-country-in-2050-nigeria-in-top-20-goldman-sachs/

The 2012 Budget is based on the following assumptions:

Oil production of 2.48 million barrels per day (mbpd) up from 2.3mbpd for 2011;
Benchmark oil price of US$70/barrel, a cautious revision from the US$75/barrel approved in the 2011 Amended Budget;
Exchange rate of NGN155/US$;
Projected GDP growth rate of 7.2%; and
Projected inflation rate of 9.5%.

Aggregate expenditure proposed for the 2012 fiscal year is N 4.749 Trillion, an increase of 6%over N 4.484 Trillion appropriated for 2011.
http://businessnews.com.ng/2011/12/13/nigeria-2012-budget-highlights-how-government-plans-to-spend-your-money/

The highest paid director in the Nigerian banking industry is the Managing Director of Stanbic IBTC and she walks home with twice more pay than the second highest paid director of any Nigerian bank. This is contained in the latest edition of the Nigerian Banks Financial Transparency Report jointly published by BusinessDay and Source Capital Researchhttp://businessnews.com.ng/2011/12/09/stanbic-ibtc-md-is-the-highest-paid-director-in-nigerian-banking-industry-gtbank-second/

Nigerian foreign reserves stood at $32.99 billion at December 2, its lowest since November 9, as the Central Bank of Nigeria (CBN) struggles to sustain stability in the domestic foreign exchange market, the apex bank’s data showed yesterday.

The naira also eased against the U.S dollar yesterday to its weakest in nine weeks as robust demand for the greenback from some end-users stocking up for Christmas sales and those excluded from the official window overstretched supply.
read more and leave your comments :http://businessnews.com.ng/2011/12/09/nigerian-foreign-reserves-slip-to-lowest-since-november-9/

Paris, December 6, 2011 – Alcatel-Lucent (Euronext Paris and NYSE: ALU) today announced a major advance to its global leadership in 100G optical networking by introducing a breakthrough in single-carrier coherent technology that will extend optical signals over distances far greater than has been possible before, even over poor quality fiber. This latest addition to the company’s portfolio is designed to enhance the ability of communications service providers to address exploding demand for high-bandwidth services like video and fixed and mobile broadband.
read more and live your comments :http://businessnews.com.ng/2011/12/08/alcatel-lucent-expands-100g-optical-networking-capability/

Nigerian Bags Manufacturing Company Plc or Bagco Plc has announced its 1st quarter 2012 results on the Nigerian Stock Exchange.

Turnover was up 25% to N 3.5 Billion from N 2.8 Billion over the same period last year, as an indicator of strong demand for its products.
read more and leave your comments :http://businessnews.com.ng/2011/12/08/earnings-watch-bagco-releases-refreshing-1st-quarter-2012-results/

ASUU’s strategy has always been this: it directs all its members in Federal and State universities to embark on total and indefinite strike at federal government breach of the union’s agreements. These strikes mean: no teaching, no examinations, no grading of scripts, no project supervisions, no inaugural lectures, no appointment and no promotion meeting, no statutory meeting (Council, Senate, Board, etc) or other meetings directed by government or their agents.
read more and leave your comments :http://businessnews.com.ng/2011/12/09/rethinking-ASUU%e2%80%99s-strategy/

When I had begun to cheer federal government, I realized YOUWIN would be blighted by the factors that have been chasing Nigeria and foreign businesses to neighbouring countries. It is just that we have put the cart before the horse.

One of those factors is absent or deteriorating infrastructure. When I say infrastructure, I mean both the soft and hard. From protection of intellectual property issues, red tape and varnishing physical infrastructure, YOUWIN would have to crawl for now. Our business ecosystem is severely challenged by anti-business policies like multiple taxation, insecurity, just a few and government shies away from shoring purchasing power of the consumers who are hit daily by new regulations. And so startups will have to innovate to overcome staggering cost of business maintenance or die like wisp.
read more and leave your comments :http://businessnews.com.ng/2011/12/09/youwin-and-the-fallacy-of-the-businessplan/

Royal Dutch Shell and Eni have bought the prospective Nigerian deep offshore oil block OPL 245, the companies said  yesterday, ending a decade of legal disputes over the huge asset.

Shell and Eni said they would own the block equally, but the Italian firm would be the operator. The companies did not confirm how much was paid or the size of reserves but industry experts have said OPL 245 was worth over $1 billion and holds about nine billion barrels of oil.
read more and leave comment :http://businessnews.com.ng/2011/12/08/eni-and-shell-reach-deal-on-opl-245/

Chevron Corp. said Wednesday it expects to spend $32.7 billion next year on energy exploration and investment next year, an increase over 2011.

The oil giant expects to make major investments in projects in Australia, deep areas of the Gulf of Mexico, Nigeria, Angola and China.
read more and leave your comments :http://businessnews.com.ng/2011/12/08/chevron-expects-major-investments-in-nigeria-capital-spending-to-hit-32-7b-in-2012/

The Stock Market has continued its yoyo like ascent and descent around the 20,000 mark. The market fell in today’s trading by 32 points as the All Share Index closed at 19,951.13.

Market Capitalization fell by N20.31 Billion to N 6.279 Trillion.
read more and leave your comments :http://businessnews.com.ng/2011/12/06/sock-market-watch-asi-yoyos-below-20000-threshold-once-again/

Britain based Nigerian entrepreneur Ladi Delano and Indonesian conglomerate Barkie Group has announce a Joint Venture focused on investing approximately $ 1 Billion or N 163 Billion in the Nigerian economy.

The joint venture pegged Bakrie Delano Africa will be focused on mining, oil & gas, and agriculture, specifically focused in Ogun and Akwa Ibom states.
read more and leave you comments :http://businessnews.com.ng/2011/12/06/nigerian-entrepreneur-and-indonesian-conglomerate-sign-1-billion-mou-with-government/

In a statement released on the Nigeria Stock exchange today, Access Bank has signaled it will complete its integration of Intercontinental Bank by March, way ahead of the “18 to 24 months” earlier envisaged
read more and leave your comments :http://www.nigeriafilms.com/headlines.asp

Robert Neuwirth, author of Stealth of Nations: The Global Rise of the Informal Economy, examines how mobile operator MTN is using hawkers and street vendors as distribution agents.
read more and leave your comments : http://businessnews.com.ng/2011/12/06/how-mtn-is-profiting-from-nigeria%e2%80%99s-informal-economy/

Nigeria is in a hot chase to triple foreign direct investment, FDI which is presently put at $3 billion. The minister of trade and investment Olusegun Aganga has said that we can accomplish this by promoting Nigeria as an attractive destination of investment and quality of life.

Foreign direct investment have gained traction in recent years as a result of the failure of state enterprises and state enterprises’ low productivity which have led to the privatization of these firms, turning them to privately-owned. While in the past, colonized countries and their new independent governments believed that foreign investment, foreign ownership of production, was neocolonialism, a continuation of colonialism in economic form, nationalizing these foreign- owned industry have not yielded the desired fruits.
read more and leave your comments :http://businessnews.com.ng/2011/12/07/foreign-direct-investment-hitherto-nigeria/

Harvard Business School has taken its MBA program to the streets. The days of sitting in classrooms and discussing case studies written by professors might just be over. The age of live case studies is here.

The economist.com gave an illustration that young mums shopping in the Copley Mall in downtown Boston last month found themselves being questioned about their use of soap by students from Harvard Business School. The students were not doing odd jobs to earn beer money, it said but that they were preparing to help a firm in Brazil launch an antibacterial cleanser.
read more and leave your comments :http://businessnews.com.ng/2011/12/07/harvard-business-school-altering-its-mba-program/

Staco Insurance Plc has released its Q3 results to the Nigerian Stock Exchange.

Gross Premium earned appreciated 16.6% from N 4.3 Billion over the same period last year to N 5 Billion at the end of last September.

The company also reported a decline in commissions received as this income was down by 20.6% to N 63 Million from N79.8 Million over the same period last year.
read more and leave your comments :http://businessnews.com.ng/2011/12/07/earnings-watch-staco-insurance-plc-releases-3q-2011-statements/

The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has been named one of 100 Global Thinkers by the iconic Washington-based journal, Foreign Policy magazine.
read more and leave your comments :http://dailypost.com.ng/2011/12/06/okonjo-iweala-clinton-stiglitz-named-top-global-thinkers/