Heritage Oil appoints Oseragbaje new CEO
Habeeb AdamuJuly 28, 2022
BY HABEEB ADAMU. Heritage Oil Limited (HOL) has appointed Adogbeji (Ado) Oseragbaje as its new chief executive office. Oseragbaje will also lead HOL’s Nigerian operations as CEO of Heritage Energy Operational Services Limited. The appointment took effect from 14 July, 2022. Oseragbaje, who joins Heritage Oil Limited from Baker Hughes where he was vice president […]
Julius Berger, Rivers sign contracts for construction of 2 new flyovers
Onome AmugeJuly 28, 2022
BY ONOME AMUGE Julius Berger Nigeria Plc, a leading engineering construction company, has signed new contracts with the Rivers State government for the construction of two new flyovers and a new road project in Port Harcourt, the state capital. The contract signing ceremony held at the Government House in Port Harcourt was presided over by […]
BUA Cement seeks funds to expand Sokoto factory capacity
Onome AmugeJuly 27, 2022
BY Onome Amuge. The management of Nigeria’s second-largest cement manufacturing company, BUA Cement Plc, said it has commenced the process of obtaining loans for the expansion of its integrated plant in Kalambaina, Sokoto State. The company confirmed this in a statement filed to the Nigerian Exchange Limited (NGX), stating that it is in discussions with […]
SAHCO names St. Matthew-Daniels, Jaiyesimi non-executive directors
Sade WilliamsJuly 26, 2022
Sade Williams/Business a.m. Skyway Aviation Handling Company (SAHCO) PLC has named Laila Jean St. Matthew-Daniel and Bukola Bello Jaiyesimi as non-executive directors of the company. The appointments were made at the 12th annual general meeting (AGM) of the company that was held at Marriott Hotel, Ikeja, Lagos St. Matthew-Daniel and Jaiyesimi replaced Chike Ogeah and […]
NERC, BPE name Ahmed Dangana new MD of KEDCO
Adeola AjakaiyeJuly 26, 2022
By Adeola Ajakaiye, in Kano. Power sector regulators, Nigerian Electricity Regulatory Commission (NERC) and Bureau of Public Enterprises (BPE) have approved the reconstitution of the board of directors of Kano Electricity Distribution Company Plc (KEDCO). The approval followed the federal government’s restructuring of five electricity distribution companies (DisCos) as a result of a takeover of […]
Dangote targets to make Nigeria Africa’s polypropylene hub with $2bn petrochemical plant
Chisom NwatuJuly 25, 2022
BY Chisom Nwatu. The $2 billion Dangote Petrochemical Plant located in Lagos, when fully operational, would position Nigeria as one of Africa’s largest petrochemical hubs and boost non-oil export earnings for the country. Aliko Dangote, president, Dangote Group, made this known at the 2022 Zenith Bank International Trade Seminar on Non-oil Export recently held in […]
Africa Prudential reports 19% increase in PBT to N1.16bn in H1 2022
Rosemary IwualaJuly 25, 2022
BY Rosemary Iwuala. Africa Prudential Plc has reported 19 percent increase in profit before tax to N1.16 billion, according to its half year (H1) unaudited results for the period ended June 30, 2022 compared to N972.3 million reported in the corresponding period. The business solution and share registration service provider listed on the Nigerian Exchange […]
Yamaha partners MAX on finance, maintenance of over 50,000 vehicles
Onome AmugeJuly 25, 2022
BY Onome Amuge, Moto Business Service Nigeria (MBSN), a subsidiary of Japan’s Yamaha Motor Corporation, has announced a strategic partnership with Metro Africa Xpress Inc. (MAX), Africa’s largest low-to-zero emission vehicle platform, to finance and maintain over 50,000 vehicles in Nigeria over the next two years. The partnership is expected to expand MAX’s operations in […]
BUA Cement pays shareholders 97.72% of N90.1bn profit as dividend
Onome AmugeJuly 22, 2022
BY Onome Amuge. Shareholders of BUA Cement Plc, one of the most capitalised entities on the Nigerian Exchange (NGX), reaped a bumper dividend harvest at their recently held annual general meeting where they considered the company’s financial report for the year ended December 31, 2021. A total of N88.047 billion out of a profit after […]
MTN applies to SEC for 2nd N200bn bond issuance, clarifies 2021 tax remittance
Chisom NwatuJuly 20, 2022
BY Chisom Nwatu Telecommunication giant MTN has applied to the Securities and Exchange Commission (SEC) in respect of the registration of a new N200 billion Bond Issuance Programme (Second Bond Issuance Programme). This development follows the successful 200bn debut bond issuance programme in 2021. In a filing with the NGX, MTN said the second issuance […]