Unilever Nigeria cuts operating loss significantly as revenue rises 1.3% to N61.6bn
Charles Abuede
3 hrs
By Charles Abuede Gross profit surged to N13.8bn, but with N3.05bn operating loss in FY20 Growth was chiefly driven by food products Unilever Nigeria Plc, a leading personal care and consumer goods company in Nigeria, saw a 1.3 per cent year on year increase in revenue from N60.8 billion to N61.6 billion in its […]
Appeal Court suspends order against shutting of SEPLAT headoffice
Ben EguzozieJanuary 23, 2021
Seplat Petroleum company has announced that the Court of Appeal sitting in Lagos on Friday suspended the order of interlocutory injunctions made by the Lagos Federal High Court that led to the sealing of the oil company’s corporate head office situated in a building located at 16A Temple Road, Ikoyi, Lagos, a building which is […]
Eko Atlantic City to utilise local content for economic diversification in Nigeria
Zainab IwayemiJanuary 23, 2021
By Zainab Iwayemi As part of its effort to promote local content and enhance economic growth, Eko Atlantic, a 10 million square metres land reclaimed from the ocean and protected by an 8.5-kilometre long sea wall will source the raw materials and workforce used to reclaim, protect and develop the region, locally. David Frame, […]
Morrison Industries taps Oladejo, business consultant, as MD to drive expansion plans
Charles AbuedeJanuary 21, 2021
By Charles Abuede Adesoji Akinola Oladejo has been appointed by the board of Morrison Industries, a publicly traded pharmaceutical company in Nigeria, as the company’s new managing director. Oladejo is expected to lead the company and drive its expansion ambitions, its expertise and business process. In a regulatory disclosure signed by Abosede Agbetu, the […]
Shippers Association predicts shortfall in cargo imports as covid-19 bites harder
Onome AmugeJanuary 20, 2021
By Onome Amuge The Shippers Association Lagos State (SALS), has warned of a deadlier second wave of the covid-19 pandemic, likely to pose more damage to the world economy with the Nigerian ports witnessing a shortfall of cargo import in the first and second quarters of the year. Jonathan Nicol, the association’s president, noted […]
Custodian Life earns ‘A’ rating with stable outlook from GCR
Zainab IwayemiJanuary 20, 2021
By Zainab Iwayemi Global Credit Ratings (GCR) has assigned an ‘A’ rating with stable outlook to Custodian Life Assurance, a major player in the Nigerian insurance sector. The rating is expected to run through until October 2021 in the national scale financial strength rating by GCR. In its explanatory note to the rating, GCR […]
uLesson assures African expansion with successful $7.5m series “A” funding
Tobias PiusJanuary 20, 2021
By Tobias Pius A successful funding round by Nigerian tech-entrepreneur, Sim Shagaya-founded learning technology platform, uLesson, has put the firm in sure footing for a planned expansion push into Eastern and Southern Africa. The funding round raised $7.5 million in what is now a clear sign that activities in the country’s start-up tech space would […]
Total Nigeria, Mixta, Valency, list new CPs on FMDQ platform to enhance financial markets development
Charle AbuedeJanuary 19, 2021
By Charles Abuede Demonstrates confidence in debt markets FMDQ Securities Exchange, Nigeria’s over-the-counter (OTC) exchange market, has approved the N15 billion quotation of the commercial paper issuance by Total Nigeria Plc and N2 billion by Mixta Real Estate Plc and also approved the registration of a N20 billion commercial paper programme by Valency […]
TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme
Chris IkosaJanuary 19, 2021
By Tobias Pius TIPP OIL, Germany’s leading premium lubricants producer, has restated its commitment and determination to fully launch into Nigeria’s market this year despite the challenges faced in 2020. The company is also reassuring that its re-bottle deposit scheme, that comes with its quality lubricants, will surely change the game in the Nigerian lube […]
Tizeti expands coverage to Edo, introduces low-cost unlimited 4G services
Onome AmugeJanuary 18, 2021
By Onome Amuge Tizeti, West Africa’s pioneer solar-based internet service provider, has unrolled its 4G LTE network in Edo State with monthly fixed unlimited broadband costs pegged at four thousand naira, a move the Lagos-based organisation explained, is part of its policy of ensuring access to affordable broadband connectivity in Africa’s underserved populations and […]