archiveOctober 27, 2016

President Muhammadu Buhari on Thursday in Abuja launched the roadmap for the development of Nigeria’s oil and gas sector, named the ‘7 Big Wins’. The document contains the short and medium term priorities to grow the nation’s oil and gas industry from 2015 to 2019. Buhari said that although his...

The Federal Government has launched a $10 billion infrastructure program on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next...

Despite harsh economic environment in Nigeria, Dangote Cement Plc has reported an improved performance as it grew its revenue for the nine-month period ended September 2016 by N76.642 billion or 20.97 per cent from N365 billion it made in the same period of 2015 to N442 billion in 2016. The...

The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization increased by 0.43 per cent while the Year-to-Date return stood at -4.91 per cent as investors recorded a gain of N40 billion. The All Share Index closed at 27,236.78 on Thursday against the Wednesday close of 27,120.39...

Total Oil Nigeria Plc has exited its shareholders proposing an interim dividend of N7.00 per share totalling N3.4 billion, on the back of impressive financial performance. The downstream petroleum marketing company’s profit after rose from N2.77 billion in Q3 2015 to N11.6 billion in Q3 2016. Profit before tax gained...

Stanbic IBTC, a member of Standard Bank Group, has said it plans to increase its allocation to the agricultural sector, given the importance of the sector to job creation and economic prosperity and growth. Chief Executive of Stanbic IBTC Holdings PLC, Mrs. Sola David-Borha, reiterated this commitment at the 2016...

The Naira on Thursday appreciated at the forex market barely 24 hours after liquidity challenges forced it to depreciate thrice in six hours. The Nigerian currency gained five points to close at N465 at the parallel market, from N470 it traded on Wednesday, while the Pound Sterling and the Euro...

The Federal Ministry of Finance has given further details of the proposed $29.960 billion foreign loans designed to address infrastructure deficit in the country. In a press statement by the Special Assistant Media to the Minister, Mr. Festus Akanbi, “the external borrowing plan is a three-year-plan covering proposed projects for...

The Board of Directors of Nigerian Breweries Plc has announced an interim dividend of N7.929 billion, that is N1.00 (One Naira) per Ordinary Share of 50 kobo in the share capital of the company for the nine-month period ended 30th September 2016. This is despite the marginal decline in the...

First Bank of Nigeria Holdings Plc grew total assets to N5.1 trillion in nine months ended September, 27 per cent from N4.2 trillion in December, 2015. The growth in total assets was driven by customer deposits that gained nearly 11 per cent to N3.3trillion from N2.97 trillion in 2015 while...