Dangote Cement Plc records robust revenue growth by 16% to N1034.2 billion amid challenging environment
Charles Abuede
March 24, 2021
Company proposes a final dividend payment of N16 per share Charles Abuede Dangote Cement Plc, Africa’s largest cement manufacturer and a subsidiary of the Dangote Group has reported a robust set of numbers like its other rival BUA Cement Plc in the full year 2020. The company recorded a 16 per cent year on year […]
Airtel signs sales agreement for its telecommunication towers in Madagascar, Malawi, Chad and Gabon
Charles AbuedeMarch 23, 2021
Charles Abuede Signs are beginning to play into reality in recent times for Airtel Africa, Africa’s leading provider of telecommunications and mobile money service with questions emanating from several quarters concerning an announcement by the company revealing its plans to sell out its telecommunications tower companies in Madagascar and Malawi to Helios Towers plc […]
Nigerians free to trade, use cryptocurrency – CBN
Wale AmeenMarch 20, 2021
Wale Ameen Nigeria’s apex bank, the Central Bank of Nigeria says it had at no time banned trading activities in Cryptocurrencies in the country. This was the submission made by the Governor of the bank at the 30th seminar for Finance Correspondents and Business Editors by the bank in Abuja with the theme, ‘Leveraging […]
Zenith Bank to pay shareholders N94.19bn as dividend for 2020 financial year
Zainab IwayemiMarch 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. […]