Business News

Nigerian airlines struggle under heavy debt burden

  FRIDAY, 25 JUNE 2010 01:17            Nigeria’s airlines owe banks and the government as much as N300 billion ($2 billion) after funding rapid expansion with short-term loans, leaving some firms struggling, industry and financial sources say. The airline industry in Africa’s most populous nation has seen explosive growth in […]

May & Baker eyes N40bn international funds

  Jun 24, 2010 By Peter Egwuatu   May and Baker Nigeria Plc has declared its willingness to access the N40 billion international funds, even as it intensify effort to complete the construction of its ultra modern pharmaceutical plant by September 2010.     The company during a facility tour […]

Total, Conoil make fresh oil discovery offshore Nigeria

  FRIDAY, 25 JUNE 2010 BY   Nigeria’s oil production capacity may soon rise courtesy of a fresh discovery of hydrocarbon in the country by Total Exploration and Production Nigeria Limited, with Conoil Producing Limited.Specifically, the new oil found was made in the central portion of the Oil Mining Lease […]