The Stanbic IBTC Purchasing Managers Index (PMI) fell to its lowest in seven months due to low demand and high prices. The monthly PMI, released on Monday, showed a drop to 50.1 points in June from 52.1 in May, marking a seven-month low. Muyiwa Oni, Head of Equity Research West Africa at Stanbic IBTC Bank,…
Wema Bank, the creator of Africa’s first fully digital bank, ALAT, has urged everyone to focus on digital empowerment for Micro, Small, and Medium Enterprises (MSMEs) to create a sustainable MSME ecosystem in Nigeria. This message was delivered during the International MSMEs Day and MSME Awards Night 2024. The event was organized by the Federal…
While addressing the audience during the opening session of a three-day summit organized by the Manufacturers Association of Nigeria (MAN) at the Banquet Hall of the State House, Abuja, on Tuesday, Aliko Dangote expressed concerns over the high interest rates, stating that businesses cannot cope with the current rate. In May, following a two-day meeting,…
By Ayomide Otitoju FirstBank’s 130-year journey is a corporate handbook, its fortunes providing lessons as profound as its challenges. The leadership and choices of leaders offer fascinating chapters, validating the notion that each era is shaped by its leaders. This holds true across the corporate environment, especially for Nigeria’s premier bank. With a diffused ownership…
By Ayomide Otitoju Speaking at a panel session on “Exportation of Local Capacity: Maximising Regional Opportunities” at the ongoing Nigerian Oil and Gas Conference in Abuja, Dr. Azudialu-Obiejesi emphasized the need for projects to be awarded to companies with proven capabilities in order to grow local capacity. He pointed out that while Nigeria possesses the…
NNPC Retail has responded to a video showing customers allegedly being coerced into purchasing lubricants before buying Premium Motor Spirit (PMS), commonly known as petrol. The attendant in the video claimed the directive came from NNPC Retail Management. In a statement issued by NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, the company has launched an…
The capital importation into Nigeria surged to $3,375 million in the first quarter of 2024, representing a 198% increase from the $1,132 million recorded in Q1 2023. According to the latest report, Portfolio Investment led the capital importation categories with $2,075 million, accounting for 61% of the total. Other Investments followed with $1,181 million, making…
Big Bull Rice is set to introduce a new holographic seal on its 25kg and 50kg packaging to ensure product authenticity and protect consumers. This move aims to provide a reliable means for verifying the authenticity of Big Bull Rice and identifying counterfeits in the market. In a recent statement, the company emphasized the significant…
By Ayomide Otitoju Prudential Zenith Life Insurance has launched the ‘Dream Big’ campaign, aimed at helping customers secure their financial futures through comprehensive insurance protection. The campaign highlights two flagship products: ‘My Education Endowment’ and ‘The Savings Plan.’ According to a statement from the firm on Sunday, customers who purchase either plan will receive complimentary…
