Wednesday, 12 January 2011

Citizen Report: Nigeria's Ruling Party National Chairman Removed By An Enugu High Court

Okwezilieze Nwodo:  Former PDP National Chairman
A citizen report from Enugu, Enugu state of Nigeria has it that the national chairman of Nigeria's ruling party, the Peoples Democratic Party(PDP), Dr. Okwesilieze Nwodo have been removed from office this afternoon by an Enugu state High Court presided over by Honourable Justice R. Onuora following a suit filed last year by some members of the party challenging  Nwodo's eligibility to contest for the party's national chair.

chidi opara reports have since confirmed this information.

News Report: Nigeria's President Set To Emerge As Party's Presidential Candidate

President Goodluck Jonathan
President of Nigeria, Dr. Goodluck Jonathan is set to emerge as Nigeria's ruling party's presidential candidate for the 2011 election.

A highly placed Peoples Democratic Party(PDP) insider who analyzed the situation to chidi opara reports, informed that apart from the governors of Kwara, Niger and Zamfara states, the President is sure of  the remaining 24 PDP governors in the party's presidential primary election taking place tomorrow at the Eagles Square, Abuja, Nigeria's capital city. Governors control the largest bloc of delegates.

"You should know that also in states not controlled by our party, delegates rely on governors of the nearest PDP states for sponsorship", the insider volunteered.

Our network members in Anambra, Lagos and Edo states confirmed this information. It was reported that delegates from Anambra state were sponsored by the combined efforts of the governors of Imo and Abia states. Edo state delegates were reportedly sponsored by the governor of Bayelsa state, while Lagos state delegates were sponsored by the governor of Ogun state.

"The sponsoring governors will also dictate where these states' delegates will vote tomorrow", our insider informed further.

Meanwhile, chidi opara reports attempts to speak with some delegates was not successful due to the tight security around them.

Report: International Corporate Research Releases List Of Largest Companies In Nigeria By December, 2010

International Corporate Research have released what it called "Stakes 55", which it said is the list of "Largest Companies in Nigeria measured by market capitalization for the 4th quarter of 2010".

The report revealed that "following the merger between Dangote Cement and erstwhile Benue Cement Company Plc which prior to the merger was 75% owned by the Dangote Group, the new company Dangote Cement Plc is now the largest public corporation in Nigeria with a market value of N1.86trillion at the end of the 4th quarter 2010".

It said further that With this, the Stakes 55 gained 43.19% rising from N5.14trillion to N7.36trillion its highest value since inception. Market Capitalization also rose 40% on the strength of this merger that has dwarfed other major public corporations to close at N7.91trillion.

The report also claimed that at the end of the quarter, the Stakes 55 is 93.05% of the value of the 1st tier equities market improving from 91.62% the previous quarter. It reported that the 'Gold Club' of top ten most capitalized stocks rose sharply to N5.02trillion, 68.2% of the Stakes 55 and 63.46% of the total market worth.

"Banking dominance was strengthened this quarter with 3 banks returning to the list from last quarter to bring total number of banks to 20 worth N2.8trillion in value 38.04% of the Stakes 55. The arrival of Dangote Cement Plc put the Building material sector in 2nd place by industry taking up 28% of the Stakes 55 though represented by just 4 companies", the report concluded.

Click Here To Read Report