Lafarge Africa posts muted top line growth as revenue grew 8.3% y/y to N230.6bn amid increased construction activities in Nigeria
Charles Abuede
March 25, 2021
Charles Abuede Lafarge Africa, a leading cement manufacturer in Africa has reported relatively weak revenue numbers for the full year 2020. The company grew its revenue by 8.3 per cent year on year to N230.6 billion. Also, it reported that its net profit after tax climbed 98.8 per cent year on year to N30.8 billion in […]
CBN unfolds procedures for disbursement of N75bn Youth Initiative Fund
Charles AbuedeOctober 29, 2020
Charles Abuede The Central Bank of Nigeria (CBN) has released the framework for the implementation of the Nigerian Youth Investment Fund (NYIF) which will see the disbursement of N75 billion targeted at empowering Nigerian youths financially in a bid to generate five hundred thousand jobs between 2020 and 2023 under the Nigerian Youth Employment Action […]
Nigeria’s universities regulator says country not ready for 100% e-Learning
Saviour AdugbaOctober 29, 2020
The Nigeria University Commission (NUC) has stated that the country is not yet ready for 100 per cent e-learning. Instead, it has called for the country to embrace a blended approach, adding that it is concerned about integrity issues around e-learning in Nigeria. Suleiman Ramon-Yusuf, a deputy executive secretary of the commission offered this position […]
2,500 business owners apply for N2.5bn Lagos Recovery Fund for looted businesses
Onome AmugeOctober 29, 2020
Onome Amuge The Lagos State Employment Trust Fund (LSETF) has disclosed plans to disburse N2.5 billion economy recovery fund targeted at supporting entrepreneurs most especially, Medium Small Micro Enterprises (MSMEs) whose businesses were destroyed by suspected hoodlums during a spate of civil unrests across the state. Tejumola Abisoye, the LSETF chief executive officer stated that […]
We’re managing Rivers’ oil & gas resources most effectively for overall benefit of the state
BEN EGUZOZIEOctober 28, 2020
Peter Medee was a lecturer in economics at the University of Port Harcourt before his appointment as Commissioner for Energy & Natural Resources, Rivers State. Business A.M.’s BEN EGUZOZIE sat with him at his 13th floor office on Point Block, the imposing 18-storey building housing the state secretariat, where he unveiled the ministry’s activities in […]
Bayelsa suffers setback as Supreme Court strikes out case on multi-billion-dollar Soku oilfields
BEN EGUZOZIEOctober 28, 2020
Ben Eguzozie, in Port Harcourt Returns matter to appeal court The nation’s apex court, the Supreme Court on Tuesday struck out Bayelsa State’s case seeking the nullification of a federal high court’s judgement on multi-billion-dollar Soku oilfields which had awarded the oilfields to neighbouring Rivers State. According to the Supreme Court’s panel of seven justices […]
Nigerian miners seek engagement with FG over reviving Ajaokuta Steel Mill
Aderemi OjekunleOctober 28, 2020
Onome Amuge A group of professional miners, under the auspices of the Miners’ Association of Nigeria (MAN), has charged the federal government to actively engage them in the planned reconstruction and operational revival of the Ajaokuta Steel Company Limited. The miners made the call following a Memorandum of Understanding between the Nigerian and Russian governments […]
Lagos reopens all markets fully for the first time since COVID-19
Aderemi OjekunleOctober 27, 2020
Markets in Lagos State are now allowed to open fully on a daily basis as the Lagos State governor, Babajide Sanwo-Olu has given his approved for this to happen across the state. Wale Ahmed, the Lagos State commissioner for Local Government and Community Affairs, made this known on Tuesday in a statement. Ahmed noted that […]
Anambra State sees return to normalcy, but N4.2trn economy still harried
BEN EGUZOZIEOctober 27, 2020
Ben Eguzozie Anambra State government announced that ‘life has returned to normal’ in the state after the mayhem of last week which saw gangs attack law enforcement agents, burn down police stations, vandalize public buildings, extort monies from law-abiding citizens and make life generally difficult for the people. This followed from weeks of #EndSARS protests […]
Looting, Vandalism: LSETF partners with private sector to get Lagos-based businesses back on their feet
Saviour AdugbaOctober 27, 2020
Saviour Adugba The Lagos State Employment Trust Fund (LSTEF) is partnering with private sector players to help looted businesses and businesses with vandalised properties get back on their feet in the wake of the vandalism and lootings that businesses in the state have experienced in the past few days after protests about police brutality turned […]