The Nigerian Council of Registered Insurance Brokers has said the recently announced recapitalisation exercise for Nigerian insurance companies will impact how insurance brokers will place their businesses going forward. It said the recapitalisation exercise would increase the industry’s capacity to underwrite transactions in key sectors of the economy. The National Insurance Commission had in a […]

The Abuja Chamber of Commerce and Industry has commended the decision of President Muhammadu Buhari to sign the African continental Free Trade Agreement, describing the move as good for the Nigerian economy. The President of the chamber, Adetokunbo Kayode, said this in a statement issued on Thursday in Abuja. Kayode said the Organised Private Sector […]

The Federal Government has commenced a process to review the National Urban Development Policy. The review of the policy document which was launched in 2012 is expected to provide overall focus and guidance for coordinated efforts by all stakeholders to achieve predetermined goals, and objectives, as well as collective aspirations in the urban development of […]

THE Asset Management Corporation of Nigeria (AMCON) got an ally yesterday in the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in its bid to recover over N5 trillion from 13, 000 debtors. It was learnt that 350 of the 13,000 debtors owe 80 per cent of the trapped N5 trillion owed the corporation. […]

The Nigerian National Petroleum Corporation (NNPC) yesterday said the only permanent end to fuel scarcity in the country is investment in downstream infrastrcuture. Its Chief Operating Officer, Downstream,  Engr. Henry Ikemefuna Obih who spoke at the ongoing Nigerian Oil and Gas Summit in Abuja, said there’s urgent need to find the right mix of incentives […]

Gasco Marine Limited says it has increased its footprint in the Compressed Natural Gas delivery cycle by adding skids of 12 tube cascades to its virtual pipeline fleet amid growing demand. It said the total number of skids in its fleet had risen to 15 with a total carrying capacity of 97,500 standard cubic meter. […]

Arnergy Solar Limited has secured a $9m Series A funding to provide solar energy solutions to 35,000 businesses within the next 36 months in Nigeria. The Chief Executive Officer, Arnergy, Mr Femi Adeyemo, while speaking at a press conference in Lagos recently, said the investment was led by Breakthrough Energy Ventures, with participation from the […]

UAC of Nigeria Plc says it has paid a dividend of N1.8bn to its shareholders for the 2018 financial year. The Chairman, UAC, Mr Dan Agbor, while speaking at the company’s Annual General Meeting in Lagos, said despite the weak group performance in 2018, the company placed shareholders in high esteem and ensured that they […]

The Federal Government released a total of N504.1bn out of the N890bn that was appropriated for the construction and rehabilitation of federal roads across the country in three years. It was gathered that the N504.1bn was the total sum for capital releases to the Federal Ministry of Power, Works & Housing in 2016, 2017 and […]

Nigerian Aviation Handling Company (Nahco) Plc will grow its top-line consistently over the next five years to reach a record N35.05 billion by 2023. The company also plans to grow its profit by 323.3 per cent to N2.13 billion in 2019 as the management of the company assured that ongoing strategic initiatives would deliver significant […]