Business News

FG sells N80bn in sovereign bonds

Friday, 25 Jun 2010      The Federal Government auctioned N80bn worth of 20-year, five-year and three-year sovereign bonds at its sixth debt auction of the year.   The Debt Management Office said on Thursday that it sold N20bn of the 20-year paper, N30bn of the five-year instrument and N30bn of […]

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 […]