US Eximbank targets Nigerian power sector

Details: Category: SPORTS NEWS; Published on Wednesday, 19 October 2011 15:39; Written by Reuters

(Reuters) - The U.S. Export-Import Bank signed a deal with Nigeria's power minister on Tuesday to provide $1.5 billion for U.S. companies to work in the underperforming power sector, which is holding back growth in sub-Saharan Africa's second-largest economy. Nigeria has the world's seventh-largest natural gas reserves, yet is blighted by persistent electricity outages which force businesses and individuals who can

Naira firms at interbank, forex reserves up

Details: Category: SPORTS NEWS; Published on Wednesday, 19 October 2011 10:35; Written by elombah.com

The Naira, Nigeria's currency strengthened against the U.S dollar on Tuesday in the interbank market after the central bank offered to sell foreign exchange to lenders, although the regulator retracted the offer after the market close. A Reuters report say the local currency closed at 159.85 to the dollar at the interbank market on Tuesday compared to 162.80 naira a dollar Monday's close. Trading was limited as the market remained

Nigeria Starts Sovereign Wealth Fund With $1 Billion

Details: Category: SPORTS NEWS; Published on Tuesday, 18 October 2011 18:21; Written by Bloomberg

[bloomberg] Nigeria, Africa’s top oil producer, started a sovereign wealth fund with an initial capital of $1 billion and hired KPMG to select its management team. “It is clear that given current challenges facing our economy and the global financial crisis, we cannot afford to waste any more time,” Finance Minister Ngozi Okonjo-Iweala told reporters in Abuja today. “What we have done can be compared to opening an account for the

Crisis, Challenges loom as world population hits 7 billion

Details: Category: SPORTS NEWS; Published on Monday, 17 October 2011 14:23; Written by Ogbuefi Blogs

This is a warning call for Africans, Nigerians, and especially people in the northern Nigeria to start rethinking our ideas and beliefs about family planning. Northern Nigerians are the poorest, least educated and with highest unemployable people in Nigeria. There is need for a conference of Northern stakeholders to address this issue. Lagos, Nigeria, is expected to overtake Cairo soon as Africa's largest city. Private water

Wydad 0-0 Enyimba

Details: Category: SPORTS NEWS; Published on Sunday, 16 October 2011 17:18; Written by Administrator

[BBC] Wydad Casablanca survived gripping tension in Nigeria to draw 0-0 against Enyimba and reach the final of the African Champions League on Sunday. The Moroccan giants advanced thanks to their 1-0 semi-final, first-leg win two weeks ago. They will play Tunisian side Esperance who sealed their place in the final on Saturday after defeating Al Hilal of Sudan 3-0 on aggregate. The final will be staged during the first half of November.

Gaddafi's son Mutassim captured in Sirte

Details: Category: SPORTS NEWS; Published on Wednesday, 12 October 2011 22:33; Written by elombah.com

Ousted Libyan leader Colonel Muammar Gaddafi's son Mutassim has been captured in Sirte, National Transitional Council officials have told the Reuters news agency. He was reported to be under arrest in Benghazi. The former dictator's fifth son was widely reported to be leading the defence of Gaddafi's home town. Meanwhile Libya pledged on Tuesday a probe of Gaddafi-era oil deals amid mounting pressure from the

Nigeria surprises with big rate hike to help naira

Details: Category: SPORTS NEWS; Published on Monday, 10 October 2011 21:10; Written by Reuters

[Nigeria economic update: Benchmark rate raised by 275 bps to 12 pct, * Naira hits all-time weakest on interbank market, * Cash reserve requirement doubled to 8 pct, * Lower oil prices, forex reserves worries CBN] Nigeria's central bank raised interest rates far further than analysts expected on Monday, in the clearest sign yet of its commitment to support the local naira currency and keep a lid on inflation. The Central Bank of

Sirius Petroleum eyes first marginal oil field project in Nigeria

Details: Category: SPORTS NEWS; Published on Monday, 10 October 2011 11:54; Written by Stockopedia News

Oil and gas investing company Sirius Petroleum has signed an agreement that could lead to it taking a 40% stake in what would be its first marginal field project in Nigeria. It has signed a Financial and Technical Services Agreement with local oil companies Owena Oil and Gas Ltd and Guarantee Petroleum Company Ltd in connection with a proposed investment in the Ororo field which is located in Oil Mining

'Recession Looms For Crisis-Hit Eurozone'

Details: Category: SPORTS NEWS; Published on Monday, 10 October 2011 11:52; Written by Agency reports

The eurozone is heading for a recession next year if leaders fail to manage the sovereign debt crisis, new research warns. Accountants Ernst & Young calculate that the combined GDP of the 17-nation group could fall by 2% next year and by a further 1% in 2013 if decisive action is not taken. They claim that European leaders have vastly underestimated how much cash they need to contribute to the eurozone rescue fund and warn

Ethiopia, Nigeria leaders confer on continental concerns

Details: Category: SPORTS NEWS; Published on Monday, 10 October 2011 10:31; Written by Tesfa-Alem Tekle

(ADDIS ABABA) – Nigerian President Goodluck Jonathan on Friday visited Ethiopia for talks with Ethiopian Prime Minister Meles Zenawi on a number of bilateral, regional and continental issues. “The visit of the Nigerian president will take our bilateral relation one step forward,” Meles told reporters after his discussion with President Jonathan. The Ethiopian premier called on Nigerian investors to take advantage of

Nations Cup: Siasia misled us – Yobo

Details: Category: SPORTS NEWS; Published on Sunday, 09 October 2011 23:59; Written by elombah.com

Nigeria crashed out of the Africa Cup of Nations after being held to a 2-2 draw by Guinea in Abuja because Super Eagles coach Samson Siasia was under the impression his team needed a 3-1 victory, to qualify, elombah.com has learnt. Nigeria captain Joseph Yobo was left deflated after ill-informed team officials misled the Super Eagles during the African Cup of Nations qualifier against Guinea on Saturday. Nigeria were 2-1 up in their AFCON clash with

Obi Mikel refuses to pay Nigeria fine after emotional visit to father

Details: Category: SPORTS NEWS; Published on Friday, 07 October 2011 10:34; Written by Administrator

Chelsea and Nigeria star John Obi Mikel is caught up in an international row with his country Nigeria after refusing to pay a £3,220 fine for arriving late to training. The midfielder was ordered to report for duty by midnight on Tuesday but delayed his arrival until Wednesday. It is understood the 24-year-old did not link up with Super Eagles 22-man squad as requested after deciding to pay a visit to his father in the central Nigerian

Apple founder Steve Jobs, 56, dies

Details: Category: SPORTS NEWS; Published on Thursday, 06 October 2011 13:23

Apple founder Steve Jobs, 56, dies weeks after quitting as boss of firm he started in his garage. Tributes, led by President Barack Obama, began pouring in within minutes of the company confirming the death of the mastermind behind the iPhone, iPad and the iPod at the age of 56. He had battled cancer for eight years. 'We are deeply saddened to announce that Steve Jobs passed away today,' read a statement by

Nigeria Moves to End Fuel Subsidy, Raise Spending by 7%

Details: Category: SPORTS NEWS; Published on Wednesday, 05 October 2011 20:21; Written by Administrator

(Bloomberg) Nigeria’s government plans to end fuel subsidies, weaken the naira and raise spending by 7 percent in its budget next year as oil prices ease. Scrapping the fuel allowance, which is planned over the next three years, will save the government 1.2 trillion ($7.5 billion) in 2012, according to a three-year plan sent to parliament by the Budget Office. Africa’s top oil producer is facing declining revenue as the price of oil, the source of more

Eni pipeline damaged in Nigeria, no force majeure

Details: Category: SPORTS NEWS; Published on Monday, 03 October 2011 16:48; Written by Administrator

(Reuters) - A pipeline in Nigeria's onshore Niger Delta owned by Italian energy group Eni has been damaged, local industry sources and witnesses said, but the company said it planned no force majeure and aimed to repair the pipeline quickly. The pipeline, in Nembe, Bayelsa state, has been leaking oil into the creeks, the

Shell oil paid Nigerian military to put down protests, court documents show

Details: Category: SPORTS NEWS; Published on Monday, 03 October 2011 13:10; Written by Guardian.co.uk

Secret papers reveal that in the 1990s the oil giant routinely worked with the army to suppress resistance to its activities. Shell has never denied that its oil operations have polluted large areas of the Niger Delta – land and air. But it had resisted charges of complicity in human rights abuses. Court documents now reveal that in the 1990s Shell routinely worked with Nigeria's military and mobile police to suppress resistance to

Xmas Bomber, Abdulmutallab's Al Qaeda Teacher Killed in Yemen

Details: Category: SPORTS NEWS; Published on Friday, 30 September 2011 19:07

[elombah.com] President Barack Obama Friday confirmed the death of United States-born Al-Qaeda leader and radical Islamist cleric Anwar al-Awlaki. Awlaki, 40, who was of Yemeni descent, had been on the run since December 2007 after the US named him a "specially designated global terrorist" for allegedly helping recruit Umar Farouk Abdulmutallab, the Nigerian accused of trying to blow up a plane as it flew into Detroit on

Al Qaeda Warns Iranian Leader to Stop 9/11 Conspiracy Theories

Details: Category: SPORTS NEWS; Published on Thursday, 29 September 2011 12:02; Written by Ogbuefi Blogs

Al Qaeda has warned President Mahmoud Ahmadinejad of Iran to stop claiming that the American government — and not Al Qaeda — was responsible for the 9/11 attack. It was a conspiracy theory Mr. Ahmadinejad repeated during his address to the United Nations General Assembly last week, when he suggested that the killing of Osama bin Laden was part of a dark conspiracy to conceal the

REJOINDER: Wikileaks: Nigeria, Which Kin Contri Be Dis Sef ?

Details: Category: SPORTS NEWS; Published on Wednesday, 28 September 2011 13:56; Written by Ejike E Okpa II

Nothing is new in this. (SEE Wikileaks: Nigeria, Which Kine Contri Be Dis Sef ?) When 'monkey' go abroad, unfortunately that 'monkey' does not come/go back any different than what its DNA has always being. Nigerians have shown that regardless of the education they have somehow there is something missing in the execution of knowledge and love for country. While there is abundant communal sense

BLOODY REVOLUTION: How corrupt Nigerians can be shot without retroactive laws!

Details: Category: SPORTS NEWS; Published on Tuesday, 27 September 2011 18:47; Written by Ogbuefi Blogs

Chief Justice of Nigeria (CJN) Dahiru Musdapher last week canvassed implementation of a death sentence for corrupt officials. Musdapher who spoke when he appeared before the Senate for screening insisted that for corruption to be minimized in the country a capital punishment must be meted out to offenders. He said the judiciary was ready to commence the enforcement of capital punishment for corrupt persons. The CJN argued that capital

Mikel Obi: Soldier sacked over dad's kidnapping

Details: Category: SPORTS NEWS; Published on Thursday, 22 September 2011 19:40; Written by Administrator

(AFP) Nigerian army authorities have dismissed one of the soldiers found guilty of the kidnapping of Chelsea footballer John Obi Mikel's father last month. "Private Jaduwa Thlama, one of the soldiers found culpable in the kidnapping of Pa Michael Obi, the father of the Nigerian international footballer, John Mikel, has been dismissed" said a statement on Thursday. He has been handed over to the police for prosecution, said the statement

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