Zenith Bank to pay shareholders N94.19bn as dividend for 2020 financial year
Zainab Iwayemi
March 17, 2021
Zainab Iwayemi Following the release of the Zenith Bank audited financial result which reflected a 5 percent rise in Profit Before Tax (PBT) from N243.3 billion to N255.9 billion despite the Covid-19 pandemic, the bank has approved the proposed additional dividend of N2.70 per share, summing the total dividend payment for the year 2020 […]
Volkswagen in plans to cut its workforce by 4,000 jobs in early and partial retirement offerings which will cost £425m
Charles AbuedeMarch 16, 2021
Says it expects close to 900 employees to accept early retirement in a Charles Abuede German automaker, Volkswagen Group, has revealed the plans to slash its total workforce by 4,000 in Germany as the auto manufacturing giant is making plans to offer its older employees an early or partial retirement – a move which is […]
Motor insurance payout drops by 6% while personal injury claim rose £12 amid lockdown in 2020
Zainab IwayemiMarch 15, 2021
Zainab Iwayemi A report by the Association of British Insurers (ABI) has shown that Payouts for motor insurance claims declined by 6 percent year-on-year to reach £8.3 billion while personal injury claim heightened in 2020. Also, the number of motor insurance claims settled at 2.1 million also fell by 19 percent compared to the previous year’s […]
Agusto projects Nigeria’s GDP to grow by measly 2% in 2021 on the back of improved investor sentiment
Charles AbuedeMarch 12, 2021
Charles Abuede Agusto & Co., a foremost credit rating agency in Nigeria, has revealed that Nigeria’s total output is projected to grow at a rate of 2 per cent in 2021 on the back of the COVID-19 vaccine and the attendant improvement in investor sentiments globally and domestically, relatively higher prices of crude oil […]
E-bills payment swells by 8.57% in February despite dip in volume
Online EditorMarch 10, 2021
Zainab Iwayemi Data obtained from the Nigeria Interbank Settlement System has shown that there was an 8.57 per cent increase in the e-bills payment from N155.53 billion in January to N168.86 billion in February 2021. Meanwhile, the volume of transactions carried out on the electronic bill payment platform fell month-on-month, by 8.86 per cent […]
Pandemic takes good slice off Nestle Nigeria as profit down 14% to N39.21bn
Charles AbuedeMarch 6, 2021
By Charles Abuede Full-year revenue up 1%y/y to N287.08bn from N284.04bn PBT dips 15% y/y to N60.64 from N71.12bn Nestle Nigeria, a leading consumer goods manufacturer in Nigeria, continues to report stable top-line numbers while its profit takes a beating due to the negative impact of the pandemic. The company reported a 1.1 […]
NNPC collaborates with Usmanu Danfodiyo University to develop energy conversion, storage system
Goddey OdinMarch 6, 2021
…Project’s details not known yet …Energy experts seek more credible gown-town partnership Ben Eguzozie, in Port Harcourt The Nigerian National Petroleum Corporation (NNPC) is to collaborate with the Usmanu Danfodiyo University (UDU), Sokoto, to develop an energy inter-conversion and storage system which would serve as catalyst for Nigeria’s economic development and transformation. […]
MTN recovers from Covid-19 aftermath to post 15% revenue growth to N1.35trn
Charles AbuedeMarch 6, 2021
By Charles Abuede Giant telco fires on all cylinders Reports: 14.7% rise in service revenue; 6% rise in PBT to N298.9bn Active data users on the network increased to 32.6 million while service revenue saw an uptick to N1.3trn MTN Nigeria has continued to show that it is fastly recovering from the aftermath […]
NLNG’s $7bn Train 7 faces headwinds over alleged non-compliance with Bonny Kingdom, core host’s local content
Goddey OdinMarch 5, 2021
…BKLCCC accuses gas company of neglect of its contractors …But NLNG says it considers core host as trusted partner Ben Eguzozie, in Port Harcourt Nigeria’s foremost gas liquefaction company’s (NLNG) incoming $7 billion Train 7, which is the country’s boldest effort in gas business in nearly a decade, faces headwinds over alleged non-compliance […]
Dangote Sugar hits sweet spot with 33% y/y revenue growth to N214.3bn
Goddey OdinMarch 3, 2021
Gross profit rose 40.4% y/y to N53.7bn despite a covid-19 disrupted economy Charles Abuede Dangote Sugar Refinery (DSR) Plc, a subsidiary of Dangote Industries Limited, hit the sweet spot in its 2020 numbers despite the coronavirus pandemic, reporting a substantial double digit revenue growth of 33 per cent year on year to N214.3 billion […]