Economy Archives — Page 258 of 258

September 4, 2015 No Responses

Dangote Cement to Generate Jobs in Cameroon

The Managing Director of Dangote Group, Onne Vander Weijde, has declared the preparedness of the company to create about 150 to 300 jobs in Cameroon. In an interview with CNBC, he said: “Thousands of jobs are being created [indirectly] through...

September 4, 2015 No Responses

FG reveals Buhari, Osinbajo assets

The Federal Government has disclosed details of the assets of President Muhammadu Buhari and Vice President Yemi Osinbajo, as declared to the Code of Conduct Bureau. A statement issued by Senior Special Assistant to the President (Media and Publicity), Garba...

August 31, 2015 No Responses

Dangote cement targets 100 tonnes by 2020

THE President of Dangote Group, Aliko Dangote has announced plans to increase his cement plants’ capacity to 100 million tonnes by 2020. Dangote explained that Africa needs to deliberately improve its per capita consumption of cement in order to aid...

August 31, 2015 No Responses

FG puts food imports under scrutiny

IMPORT policy of staple food such as rice, wheat and fish is to be reviewed by the Federal Government as part of measure to ensure self-sufficiency in food production. The Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Mr....

August 29, 2015 No Responses

‘$18.5 b Centenary City Project to create 250,000 jobs’

CITING skill acquisition, job creation and economic development, President Muhammadu Buhari has backed the $18.5 billion Centenary City Project. Recently, Buhari summoned the Governing Board of the Project, chaired by the former Head of State, Gen. Abdulsalami...

August 26, 2015 No Responses

FIRS pledges to boosts tax revenue

THE Federal Inland Revenue Service (FIRS) has pledged to raise the nation’s tax revenue. Speaking in Abuja on assumption of office, the Acting Chairman, Mr Babatunde Fowler said the agency would work with all relevant stakeholders. A statement issued by...

August 14, 2015 No Responses

Flour Mills to merge subsidiaries

THE management of Flour Mills of Nigeria Plc (FMN) has announced plan to conduct a restructuring by merging five of its subsidiaries with its holding company under a scheme of External Restructuring. According to the Group Managing Director, Flour Mills,...

August 12, 2015 No Responses

At NSE, Berger paints pledges to lift shareholders returns

THE Managing Director and Chief Executive Officer of the Berger Paints Nigeria Plc, Mr. Peter Folikwe has pledged to lift shareholders returns.Speaking while addressing the management of the Nigerian Stock Exchange (NSE) during a courtesy visit, he said the co...

August 11, 2015 No Responses

Ministry under scrutiny over alleged diversion of N119b railway fund

President Muhammadu Buhari has queried the Ministry of Finance over alleged diversion of N119billion foreign loans secured to expand and develop rail projects. The loans were secured by the former administration of President Goodluck Jonathan. Buhari wan...

August 4, 2015 No Responses

Buhari orders reduction of expenditure

President Muhammadu Buhari Monday in Abuja ordered the National Planning Commission (NPC) to go back to the drawing board and produce the framework for a 2016 national budget that will reduce recurrent expenditure and prioritize developmental projects. Preside...

August 3, 2015 No Responses

Dangote Cement declares N121.8b in six months

DANGOTE Cement Plc has declared Profit After Tax (PAT) of N121.808 billion in the six-month period ended June 30, 2015, amounting to a 21.65 per cent increase over the N95.440 billion recorded in the same period in 2014. Detail of...

August 1, 2015 No Responses

Customs reviews plan to shut down Intercontinental Hotel

THE National Headquarters of Nigerian Customs Service (NCS) has reviewed its earlier plans to shut down Intercontinental Hotel over alleged default in the payment of duty on imported rice. A statement sent to Citybusinessnews by Public Relation Officer, Wale A...

July 29, 2015 No Responses

NAICOM tasks insurers on GDP

(Naicom’s Commissioner for Insurance, Fola Daniel) The National Insurance Commission (NAICOM) has challenged the nation’s insurance industry to draw action strategies to strengthen ongoing governmental Efforts at increasing insurance industry’s contribut...