Economy – Page 220 – City Business News

May 5, 2022 No Responses

Dangote Cement Ramps Up Production At Okpella Plant, Attains N105.9 b Profit In Q1

Dangote Cement Plc, has ramped up production at its newest plant, in Okpella, Edo State as its earnings per share rose by 16.8 per cent to N6.18 for the first quarter ended March 31, 2022. Chief Executive Officer, Dangote Cement,...

May 4, 2022 No Responses

Edo MSMEs Can’t Afford N40,000 Minimum Wage, Says BENCCIMA

Micro, Small and Medium Scale Enterprises (MSMEs) in Edo State will find it challenging to pay N40,000 minimum wage, the Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA) has said. The State Governor, Godwin Obaseki on May ...

May 4, 2022 No Responses

Dangote Cement Completes N116b Bonds

‘ Dangote Cement has completed its N116 billion series 2 bond issuance which is the largest corporate bond issuance in the Nigerian capital market. In a statement published on the Nigerian Exchange Ltd Website on Wednesday, the company expla...

May 4, 2022 No Responses

Lekki Port: Nigeria To Earn $201b, Generates 169,972 Jobs

The Federal Government of Nigeria and the Lagos State government will earn revenue of over $201 billion in 45 years and generate 169,972 jobswhen the Lekki Deep Sea Port becomes fully operational, Minister of Information and Culture, Alhaji Lai Mohammed s...

May 3, 2022 No Responses

Nigeria To Host Gulf Of Guinea Maritime Security Conference

The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Navy in partnership with the Inter-Regional Coordination Centre (ICC) Yaoundé have concluded arrangements to host the fifth plenary of the Gulf of Guinea Mari...

May 2, 2022 No Responses

NPA Implores Stakeholders On Rules, Regulations

The Nigerian Ports Authority NPA has pledged to ensure every port player plays by the rule of engagement. The General Manager, Monitoring and Regulatory Services, Eniola Williams gave the assurance in Lagos, during a tour of the ports, by the...

May 1, 2022 No Responses

Indians In Nigeria Laud Inauguration of Nigeria-India Business Council

Indians in Nigeria have expressed excitement over the newly inaugurated Nigeria-India Business Council designed to further strengthen the bilateral relations between the two countries. General Secretary of the Afro Asian Initiative for Community Developm...

April 30, 2022 No Responses

20 Pension Fund Administrators Meet Deadline For N5b Minimum Capital

Twenty Pension Fund Administrators (PFAs) met PenCom’s deadline to increase their Minimum Regulatory Capital (shareholders’ fund) from N1 billion to N5 billion by April 27. Pension Commission (PenCom) made the declaration in a statement it issued in Lag...

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 ...

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...