Latest Nigeria Business News
The Nigerian Bottling Company Limited, the bottlers of Coca-Cola brands in Nigeria, has renewed its commitment to contributing its quota towards a more sustainable society through its social, economic and environmental initiatives. Speaking at the unveiling of the NBC’s maiden Sustainability Report recently, the Public Affairs and Communications Director, Mr Ekuma Eze, described the Sustainability […]
Nigeria is losing about $9bn annually to foreign shipowners because the country has no single vessel that is involved in international freight services, the Nigerian Shippers’ Council stated on Thursday. According to the council, Nigeria makes nothing from the billions of dollars spent by importers and exporters as freight fees to owners of vessels, as […]
Between January and May this year, the three tiers of government got the sum of N3.14tn as allocation from the federation account. The amount was allocated by the Federation Account Allocation Committee to the federal, states and local governments. The committee, which is headed by the Minister of Finance, is made up of commissioners of […]
The Chairman, NEM Insurance Plc, Dr Fidelis Ayebae, has revealed plans of the company to increase its issued share capital. Ayebae, while speaking at the company’s Annual General Meeting in Lagos on Wednesday, said the company would proactively begin to prepare to raise fund for the share capital increase, in addition to its plan for […]
The Nigerian insurance sector’s premium rose by 10 per cent to N400bn in the 2018 financial period, according to the Nigerian Insurers Association. The Chairman, NIA, Mr Tope Smart, disclosed this while presenting the 2018 annual report of the Nigerian insurance sector during the association’s 48th annual general meeting in Lagos on Thursday, which was […]
Investors are optimistic of a fair price for Airtel Nigeria shares as the telecom company prepares to announce its share price and size today (Friday) ahead of its listing on the Nigerian Stock Exchange. Capital market analysts also noted that investors were expectant that they would have an opportunity to invest in the telecom company. […]
Stakeholders, including communities of Oil Mining Licence 25 in Akuku-Toru Local Government Area of Rivers State, and Shell Petroleum Development Company have agreed on the procedures for the re-opening of the oil field. The Memorandum of Understanding, which will be facilitated by the Rivers State Government, will be signed on July 1, 2019, and signify […]
Chemical and Allied Products Plc has declared a dividend of N2.90 per 50 kobo ordinary share to its shareholders for the 2018 financial year. The shareholders, at the company’s 54th Annual General Meeting in Lagos, endorsed the total dividend of N2.03bn for payment and commended the company for the efforts that had been put in […]
The total value of investment in Exchange Traded Funds dropped by N1.9bn in one year, data from the Securities and Exchange Commission have shown. ETFs are professionally managed vehicles designed to give investors broad exposure to the market by tracking an index (market capitalisation allocations) or specialised themes that consider factors such as value and […]
The international oil benchmark, Brent crude, extended its gains on Wednesday, rising to above $66 per barrel. Brent, against which Nigerian crude oil is priced, gained $1.69 to settle at $66.74 as of 4.30 pm Nigerian time. It plunged to around $60 per barrel early this month. Outages at North Sea oilfields have helped put […]