Economy
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NGX Group announces 22.2% growth in profit after tax
Nigerian Exchange Group (NGX Group) Plc has announced that it has released its audited results for the full year ended December 31, 2021. The Group’s audited results revealed that its gross earnings grew to N6.8 billion from N6.0 billion, resulting in a 13 per cent increase. Revenue rose by 14.9 per cent from N5 billion recorded in 2020 to N5.8…
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SEC moves to enhance integrity of capital market instruments
The Securities and Exchange Commission (SEC) has stated that Issuers would henceforth be required to obtain the reference letter of “No-Objection” from their respective primary regulators and file same along with other application documents presented to the Commission. This was contained in a Circular issued by the Commission, Thursday. The SEC states that this has become necessary in a bid…
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Dangote signs multi-million dollars gas supply agreement with NNPC, three others
Dangote Fertiliser Company has signed a multi-million dollars Joint Venture with Nigerian National Petroleum Company (NNPC) Limited, Shell, Total and ENI towards supplying 70 million standard cubic feet (scuf). The agreement was signed at the Nigeria International Energy Summit (NIES). In agreement for the signing were President of Dangote Group, Alhaji Aliko Dangote; Group Managing Director of NNPC, Mallam Mele…
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Dangote cement, Zenith Bank, MTN Nigeria report N907.65bn profit in 2021
Three leading companies in Nigeria, Dangote Cement Plc, Zenith Bank Plc and MTN Nigeria Plc have reported N907.65billion profit in 2021 financial year, an increase of 28 per cent from N711.85billion reported in 2020. The three companies are giants in the cement manufacturing, financial and telecommunication sectors of the nation’s economy, contributing to job creation, supporting ease of transactions, constructions…
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Olam subsidiary’s investment in local diary value-Chain excites Kano communities
The investment Outspan Nigeria Limited, a subsidiary of Olam Group in local diary value-chain has brought joy and excitement communities in Kano State. The people commended the dairy business unit of Olam Food Ingredients (OFI), for its expansive investment in the area, targeted at achieving large-scale development of the local dairy value chain. At the opening of the latest Milk…
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Pantami, Danbatta lead Nigerian delegation to MWC 2022
Minster of Communications and Digital Economy, Isa Pantami and the Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, are leading Nigeria’s delegation to the Mobile World Congress (MWC) 2022. The MWC which is taking place in Barcelona, Spain, from February 28 to March 3, is the most influential conference and exhibition…
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Dangote Cement’s Commitment To Climate Change Yields Dividend
… Proposes dividend of ₦20.00 per share Dangote Cement’s commitment to environmental disclosures and sustainability is yielding the desired results with Carbon Disclosure Project (CDP) raising its rating from C to B- even as it proposes a dividend of N20 per share for the year ended December 31, 2021. The CDP is an international non-profit organization based in the United Kingdom…
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10 Years after, work to start on Badagry deep sea port in June, says Sanwo-Olu
Lagos State Governor, Babajide Sanwo-Olu, on Tuesday said the state government was determined to push development to Badagry with a new sea port. The state government is revisiting the project ten years after the idea was conceived. In his address at a stakeholders’ meeting in Badagry, Governor Sanwo-Olu said construction work would start on the Badagry seaport in June if…
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Russian-Ukraine war may affect fuel import into Nigeria
The ongoing war between Russia and Ukraine may further prolong the over three-week scarcity of Premium Motor Spirit, popularly called petrol, in Nigeria, as bulk of the refined products coming into the country from the warring region and its adjoining areas are likely to face some delays. Information available to Western Post shows that traders who supply Nigeria with refined…
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EXCLUSIVE: Caverton helicopters in financial distress, mass exodus of pilots to OAS rocks aviation firm
Strong indications have emerged that Caverton Helicopters Limited is going through financial troubles following mass exodus of its pilots over months of unpaid salary and other operational issues the company has been going through in the last couple of months. Western Post gathered that in the last three months alone starting from November 2021, Caverton has lost about 20 of…
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