Economy Archives — Page 170 of 259

April 30, 2022 No Responses

Nestlé Nigeria Attains N18b Profit In Three Months

By citybusinessnews@yahoo.com — For the first quarter ended March 31, 2022, Nestle Nigeria Plc has declared profit after tax of N 18.0 billion. According to the unaudited financial statements, the company recorded a revenue of N 110.2 billion against N 87.3...

April 29, 2022 No Responses

Guinness Nigeria Unveils £6.2m HQ, Declares N15.27b In Three Months

Guinness Nigeria Plc, a member of the Diageo family, on Thursday opened its new £6.2 million ultra-modern headquarters (HQ) located at Cocoa Industries Road, Ogba, Lagos State. In her speech, Guinness Nigeria’s Board Chair, Dr Omobol...

April 29, 2022 No Responses

MAN Tasks FG On Speedy Implementation Of AfCFTA

The Manufacturers Association of Nigeria (MAN) has tasked the Federal Government to speedily commence the implementation of the African Continental Free Trade Area (AfCFTA) to support its industrialisation agenda and for competitiveness. The President of...

April 28, 2022 No Responses

FG, States, LGCs, share N725.571bn for March

The Federation Accounts Allocation Committee (FAAC), has shared the sum of N725.571 billion to the three tiers of government, as federation allocation for the month of March. A statement issued by Mr Phil Abiawute-Mowete, Director, Information/Press, Fed...

April 28, 2022 No Responses

Delta Explains N150b Credit Facility

Delta State Government is seeking N150 billion discounting facility to pay for infrastructural projects and outstanding pension arrears. Briefing Journalists on Wednesday, the state Commissioner for Finance, Chief Fidelis Tilije explained that Governor&n...

April 27, 2022 No Responses

Delta Seeks N150b Credit Facility From Zenith Bank, Others

The Delta House of Assembly has approved a request by Governor Ifeanyi Okowa for a bridging finance facility of N150 billion in favour of the state government. The governor’s request is contained in a letter which was read at&nbs...

April 27, 2022 No Responses

AIB-N Releases Four Preliminary Reports

The Accident Investigation Bureau, Nigeria (AIB-N), has released four preliminary reports on serious incidents and accidents involving aircraft owned and operated by some Nigerian airlines. The airlines included United Nigeria Airlines Limited, Max Air, Air ...

April 26, 2022 No Responses

Amaechi Seeks Final Approval For Ibadan Dry Port

The Minister of Transportation, Mr Rotimi Amaechi, on Monday promised to seek the Federal Executive Council’s (FEC) approval for the commencement of Ibadan Dry Port before the end of May, 2022. Amaechi, who is also aspiring to take over from...

April 25, 2022 No Responses

Ondo Chocolate Firm Targets $1m Revenue

Sunshine Chocolate Factory, Alade Idanre, Ondo State, producers of Idan Premium chocolate bars, is to generate $1milion revenue yearly when it enters the chocolate market fully. The company had announced plans to hit European market...

April 23, 2022 No Responses

Stakeholders Tackle SEC Over Alleged Arbitrary Increase In CMOs Fees

The Issuers and Investors Alternative Dispute Resolution Initiative (IIADRI) has condemned alleged arbitrary and unilateral increase in fees charged to Capital Market Operators (CMOs) by the Securities and Exchange Commission (SEC). A statement join...

April 21, 2022 No Responses

AfDB To Double Africa’s Climate Finance To $25b

The African Development Bank (AfDB) will within the next five years double the climate change finance of Africa to $25 billion Dr Kevin Kariuki, AfDB Vice-President for Power, Energy, Climate and Green Growth, said this at a virtual news conference...

April 21, 2022 No Responses

Sylva: Nigeria Must Evolve Innovative Ways In Oil, Gas Exploration

To be relevant as a major player in the global oil and gas industry, Nigeria must come up with innovative ways of exploiting and exploring its abundant oil and gas. In his opening remarks at the stakeholders’ consultation on draft...

April 20, 2022 No Responses

Nigeria Mulls Bill To Support Young Entrepreneurs In Digital Eco System

The Nigerian Government is considering a bill to support young entrepreneurs, particularly within the Digital Eco System. The Minister of Communications and Digital Economy, Mr Isa Pantami, said this at an interactive session with the leadership of...

April 18, 2022 No Responses

Presco: Sustaining Growth Through Expansion

No doubt, Presco Plc is one of the most fundamental stocks on the Nigerian Exchange Limited (NGX). In its unaudited 2021 financial statement for the period ended December 31, 2021, Presco Plc improved on profitability as the management ex...