LBN News Digest: 3000 Entrepreneurs for Google's 2012 Web Fair, The Oil Spill In Nigeria Was Monumentally Larger Than Shell Reported

Qatar, Nigeria to launch business council in June
Gulf Times
By Noimot Olayiwola Qatar and Nigeria will soon launch a Qatari-Nigerian Business Council, which is expected to serve as a platform to promote trade and investment. A memorandum is to be signed in June. Qatar will become the first country in the GCC

Nigerian billionaire leaves his imprint in cement
Los Angeles Times
Critics call Dangote ruthless, and accuse him of aggressive price cutting to drive smaller rivals out of business. Unlike Nigerian businessmen who stripped state companies of their assets and let them collapse, Dangote turned them profitable,

Naira Advances 1st Time in 3 Days as Probe Slows Dollar Demand
A House of Representatives committee investigating possible fraud in subsidy payments recommended on April 19 gasoline importers, including the state oil company Nigerian National Petroleum Corp., refund 1 trillion naira ($6.4 billion).

Nigeria: 3000 Entrepreneurs for Google’s 2012 Web Fair
By Nahimah Ajikanle Nurudeen, 25 April 2012 Lagos — About 3000 entrepreneurs are expected to attend this year’s edition of Google Get Nigerian Businesses Online (GNBO), a web fair organised for the support of small and medium businesses in the country.

London Stock Exchange lures more Nigerian firms
However, these classes of investors are still cautious of market liquidity, currency, company disclosure and trading risks in Nigeria and other frontier markets.” Speaking further, Rasaq noted, “I must say that multinational companies with good

The Oil Spill In Nigeria Was Monumentally Larger Than Shell Reported
Business Insider
The figure was based on an assessment agreed at the time by the company, the government oil spill agency, the Nigerian oil regulator and a representative of the community. But a previously unpublished assessment, carried out by independent US oil spill

Nigerian lawmakers want probe of massive fuel subsidy graft
The Daily Star
One of ExxonMobil’s Nigerian subsidiaries was also named in the report, which alleged it refused to appear before the committee. The report called on the company to refund the government. Mobil Oil Nigeria’s spokesman however denied the allegations and

Mobil denies involvement in subsidy scam
“It states that Mobil Oil Nigeria stands ready to appear before the committee or any other agency of government should it be invited. Our company has fully co-operated with the investigation into operations of the Fuel Subsidy Scheme conducted by the


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