The mechanical completion of the Warri Refining and Petrochemical Company is scheduled for completion in the first quarter of this year, the Nigerian National Petroleum Company Limited has said. WRPC, located in Warri, Delta State and established in 1978, is one of Nigeria’s three refineries under the management of NNPCL. The other two include the…
Airtel Africa has revealed plans for a $100m share buyback programme starting March 2024. This is as the company also reported a 99.6 per cent decline in its post-tax profit to $2m at the end of the nine months ended December 2023 from $523m at the end of the same period in 2022. Providing insights…
Fortified Sugar brought in the highest revenue to BUA Foods of its different business segments in 2023. The firm’s total revenue rose by 74.13 per cent to N728.48bn in 2023 from N418.35bn in the prior year, underpinned by 153 per cent growth in income from fortified sugar to N327.55bn. This was revealed in the unaudited…
The naira yesterday exchanged at N1,500 to dollar at the parallel market.At the Nigerian Autonomous Foreign Exchange Market (NAFEM)- the official market, the naira traded at N1,455.59 to dollar. The local currency has continued to depreciate at both official and parallel markets over persistent dollar scarcity. The naira on Wednesday exchanged at N1,482.57 to dollar…
Ogun State Governor, Prince Dapo Abiodun, has emphasized the crucial role of collaboration with the private sector in addressing the challenges of sustainable economic growth and job creation.The governor expressed appreciation for the contributions made by Lafarge Africa Plc to the socio-economic development of state. He acknowledged the company’s longstanding commitment to the local economy…
….to Empower Over One Million SMEs Ecobank Nigeria, a subsidiary of the Ecobank Group, the leading pan-African bank has launched an innovative training program targeted at empowering operators of small and medium enterprises (SMEs) in the country. Through the initiative, titled MySME Growth Series, the Bank will train over 1 million SME operators across the…
Access Pensions Limited, a subsidiary of Access Holdings, has acquired a majority stake in ARM Pensions Managers Limited. In a statement from Access Holdings on Saturday, the ‘no-objection’ of the National Pension Commission and the approval of the Federal Competition and Consumer Protection Commission were received through Access Golf, a majority shareholder in Access Pension….
The Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on Premium Motor Spirit, popularly called petrol, the Chief Financial Officer, NNPCL, Umar Ajiya, has said. NNPCL is a major revenue generating agency in Nigeria, operating as the national oil company in charge…
Ecobank Nigeria, a subsidiary of the Ecobank Group, the leading pan-African banking group has announced mouthwatering interest rates on its SuperSavers accounts. SuperSavers account is a high-yield savings account type tailored for customers who wish to maximize their returns on savings while benefiting from a customer-focused banking experience. The six months reward programme runs between…
