Business and Economy

The Nigerian business community is positioning to be reckoned with in mergers and acquisitions as the Securities and Exchange Commission (SEC) has expressed its readiness to cooperate with global agencies to ensure sustainable growth of Mergers and Acquisitions (M&A) in the country. Mounir Gwarzo, Director General of SEC, revealed this …

A Saudi Investment Company, Zain Al-abdin Group is to set up an Agric City in Kwara State. The proposed Agric City, which is to be located along the River Niger in Kwara North will comprise a cluster of farms specializing in cultivation, processing and export of rice, maize and vegetables. …

The United States has said it will support Sokoto government’s efforts to modernise agricultural processes and implements so as to enhance productivity and ensure food security. US Ambassador to Nigeria, Mr. Stuart Symengton, gave the assurance when he paid a courtesy visit to Governor Aminu Waziri Tambuwal at the Sokoto …

  Sokoto government said it is partnering with investors from Turkey to revive the moribund state-owned furniture company. At its peak, Sokoto Furniture was one of the largest furniture companies in the North, employing more than 10,000 workers and serving clients from as far as neighbouring Niger Republic. Conducting the …

That Mr Godwin Nogheghase Obaseki’s government in Edo State would be a colossal success should never have been in doubt. The handwriting had always been on the wall; but those who are wanting when foresight is being deployed could not have perceived it. His background in finance and international business …

Dangote Cement Plc may have ended the era of Nigeria’s dependence on importation as the company exported 0.4 million tons of the product to other countries in 2016. This followed continuous increase in its production capacity. This was coming as the cement manufacturer’s board of directors is proposing a dividend …

The Minister of Finance, Mrs. Kemi Adeosun has stated that the Development Bank of Nigeria (DBN) is being positioned to galvanise the Small and Medium Scale Enterprises sector for the overall development of the nation’s economy. According to her, the present administration is aware of the role of SMEs in …

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has urged Nigerians to partner with the Agency to ensure a virile maritime industry as the activities of the Agency impact on the lives of all Nigerians. This is given the fact that virtually every …

  The National Bureau of Statistics (NBS) on Tuesday released the 2016 4th Quarter Gross Domestic Product (GDP) Report which shows a significant improvement in the country’s economic fundamentals and promising signs that things are beginning to turn for the better. Although the numbers are still negative, indicators in the …

First Bank Nigeria limited, lead subsidiary of FBN Holdings plc has clarified its stand on the newly introduced Central Bank of Nigeria (CBN) foreign exchange policy and how its customers will key into the new forex regime. The bank in a publication to its customers, assured of its willingness to …

By Our Reporter Mobil Producing Nigeria, MPN, a subsidiary of ExxonMobil Corporation weekend, doled out over N50 million to twelve community-based, professional and Non-Governmental Organizations in Akwa Ibom to assist them carry out developmental and empowerment programmes in the state for the benefit of their members. The beneficiaries are: The …

 Ikeja Electric, Nigeria’s largest distribution company has launched a concerted effort aimed at curbing unethical practices across its network and also encouraging customers to report such practices. Speaking on the launch of the sensitization program, the company’s Head of Corporate Communication, Felix Ofulue, noted that such practices, which included cases …

Zenith Bank’s audited financial statement for the period ended December 31st 2016 released by the Nigerian Stock Exchange (NSE) Monday has elicited mixed market reactions, even as investors strive to buy into N1.77 dividend proposed. Investment analysts have hailed certain aspects of  the results and picked holes in other aspects.  …

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has disclosed that the Agency’s 2017 budget is tailored towards the strategic growth and other developmental initiatives of the maritime sector.  The DG, who said this recently during the 2017 budget defence session at the …

The Made-In-Nigeria Campaign of the Senate President, Dr. Abubakar Bukola Saraki, has gathered traction, as a retail industry group dedicates acreage to Made-In-Nigeria talents and products. The Abuja luxury retail landscape was electrified yesterday, as the Dunes Group, leading luxury retailers, launched and dedicated an entire floor of the flagship …

Governor Ifeanyi Ugwuanyi of Enugu State Friday flagged-off an empowerment scheme in which 1,200 genuine traders of the state will be empowered annually to grow their businesses. The scheme comes with a package of N60 million annually, with the state government releasing N5 million monthly to be won by 100 …

The Niger Delta Development Commission, NDDC, has redeployed 11 directors as part of its on-going reforms and restructuring to enhance overall performance, towards the sustainable development of the Niger Delta region.The redeployments, which were approved by the NDDC Managing Director, Mr Nsima Ekere, in line with the 4-R initiative of …

Minister of Finance, Thursday at the United Capital launch of its Eurobond and Wealth for Women Funds, said that infrastructure development will play a fundamental role in unlocking Nigeria’s economic potential, laying a foundation for economic competitiveness and long-term future growth. Adesoun stated that Investment in critical infrastructure across the country …

The Nigerian government will be seeking global support for its effort to arrest and end the humanitarian challenges in the North East of the country and the surrounding Lake Chad region at a two-day international conference opening in Oslo, Norway, on Thursday. Norway is organizing the conference jointly with Nigeria …

One lucky customer of Skye Bank Plc., OLUSOLA OLUSEGUN EZEKIEL emerged the first winner and a Millionnaire of the draw of the Bank’s flagship ‘Reach for the Skye Millionaire reward promo’ season II which held Friday, even as the Ayangburen of Ikorodu, Oba Kabiru Shotobi endorsed the initiative as life …

The Australian High Commissioner to Nigeria, Mr. Paul Lehmann, has expressed the willingness of businesses in his country to explore commercial opportunities in Enugu State. Speaking during a courtesy visit to Government House, Enugu, the envoy said that Nigeria and Australia both have a longstanding relationship which would be further …

Guinness Nigeria Plc has denied that it is indebted to Pharma Deko Plc, and promised that its solicitors will repudiate the claims of Pharma Deko Plc in court. Guinness Nigeria Plc in a statement, also assured its employees, customers, shareholders and other stakeholders that it is capable of meeting its …

Distributors of the Dangote foods companies, including Dangote Flour, Sugar and Salt smiled home Tuesday night as the management of the Companies doled out over N2 billion as rewards for their loyalty to the companies over the past one year. At a gala night, top performers in each of the …