Latest Nigeria Business News
Ecobank has reiterated its commitment to helping its customers to sustain their family wealth, and ensure that their businesses transit from one generation to the other. The Managing Director of the bank, Patrick Akinwuntan, said this during a breakfast forum for its premier customers in Lagos on Friday. He said, “We have experience across 36 […]
The contentious fuel subsidy, ailing refineries, pipeline vandalism, and crude oil theft, among others, have been tabled by industry stakeholders as some of the elements threatening the nation’s economy. Industry experts raised these as top concerns as the new Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, assumed office on Monday. President […]
The Nigerian National Petroleum Corporation has so far repaid $2.3bn cash call arrears to its Joint Venture partners. Nigeria’s oil and gas production structure is split between JV (onshore and in shallow waters) with foreign and local firms and Production Sharing Contracts in deep water offshore. The NNPC owns 55 per cent of the JVs […]
The Standards Organisation of Nigeria is set to destroy N38m worth of substandard roofing sheets found in a Lagos warehouse. This is coming a week after the agency confiscated N200m worth of substandard roofing sheets in Uyo, Akwa Ibom State. The Director, Inspectorate and Compliance, SON, Obiora Manafa, was quoted to have said during an […]
Fidelity Bank Plc are partnering PricewaterhouseCoopers (PwC) to help Small and Medium Enterprises (SMEs) have easy access to investors. The entrepreneurs will also, through the SME Funding Connect-Lagos, being planned by both institutions be able to connect to institutions that will provide them with funding. Speaking on the programme, Fidelity Bank Managing Director Nnamdi Okonkwo […]
Union Bank of Nigeria Plc and the Junior Achievement Nigeria (JAN) are empowering female students. The deal is in line with the bank’s commitment to empower the girl child. Both institutions will be organising the LEAD Camp- a week-long programme designed to identify, convene and coach exceptional female students from across the country. Speaking at […]
The Central Bank of Nigeria, in collaboration with the Bankers’ Committee, has provided N22.9 billion seed capital for the Creative Industry Financing Initiative (CIFI). In a circular released at the weekend, the apex bank said the CIFI project was aimed boosting job creation, particularly among youths. It said the Student Software Development loan will be […]
Following the completion of its initial public offering (IPO), Skyway Aviation Handling Company (SAHCO) Plc, will this week list its shares on the Nigerian Stock Exchange (NSE). SAHCO will be the second ground handling company to be listed at the stock market, after Nigerian Aviation Handling Company (Nahco) Plc. SAHCO had floated an IPO of […]
Nigerian Breweries Plc will list its ongoing N15 billion commercial papers issuance on the FMDQ OTC Securities Exchange to provide investors opportunity to trade on their holdings. The brewer is offering 90-day and 182-day CPs to investors with a view to raising short-term funds for its operations. The issuance is part of the company’s N100 […]
Cement Company of Northern Nigeria (CCNN) Plc grew its net profit by 77 per cent to N5.7 billion in 2018. In its first report since the merger with Kalambaina Cement Company, CCNN’ turnover rose by 62 per cent to N31.7 billion. Earnings before interest, taxes, depreciation and amortization ( EBITDA) rose by 86 per cent […]