Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate, announces its financial results for the year ended December 31, 2023. The Group achieved substantial growth in its financial indicators, reinforcing its market leadership and strategic positioning. In its audited results, Transcorp reported significant year-on-year growth, with...
BUSINESS
The Naira gained at the official market, trading at N1,278.58 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the Naira gained N30.81 or 2.35 per cent, compared to the previous trading date on Thursday, March, 28, 2024 just before the...
Geregu Power Plc has approved to pay its shareholders a dividend of N8 per ordinary share of 50k each, totaling N20 billion. Mr Akinleye Olagbende, General Counsel, Geregu Power, said this in the resolution of the company’s 12th Annual General Meeting(AGM) sent to the Nigerian Exchange Ltd.(NGX) in...
Chevron is chartering its first hybrid electric bunker tanker, a vessel that fuels other ships, from V-Bunkers, the Singaporean bunker arm of energy and commodities company Vitol. According to Chevron, the tanker, owned and operated by V-bunkers, arrived at Singapore facilities last summer and will provide maritime customers in...
By AUDU LIBERTY OSENI – The Nigerian National Petroleum Corporation (NNPC), saddled with the responsibility of managing and harnessing Nigeria’s oil and gas, in what appears an attitude to a disregard for accountability that has helped undermine its country’s extractive sector, has refused to disclose contract deals, and has...
CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert
CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert
A renowned Economist, Prof. Ken Ife, says aggressive monetary policy tightening adopted by the Central Bank of Nigeria (CBN) will attract foreign portfolio investments to the country. Ife, who is the Lead Consultant on Private Sector Development to ECOWAS Commission, said this in an interview with the News...
The National Average Cost of a Healthy Diet (CoHD) per adult a day stood at N938 in February, 2024, the National Bureau of Statistics (NBS) said in a report. The NBS revealed this in its CoHD report for February, 2024 released on Friday in Abuja. The bureau said...
Nick Agule Twitter: @NickAgule Email: nick.agule@yahoo.co.uk Facebook: Nick Agule, FCA 30.03.2024 Introduction The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 294th meeting on the 25th and 26th of March 2024. At the end of the meeting, the MPC diagnosed the causative...
In the dynamic landscape of digital marketing, Search Engine Optimization (SEO) plays a crucial role in enhancing the visibility and reach of products and services. One powerful facet of SEO is its integration with Digital Public Relations (PR), where strategic planning and execution can significantly amplify the promotion...
The founder of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has said the upward adjustment of capital requirements for banks will improve their ability to manage risks and withstand economic shocks. Yusuf said this in a statement on Friday while responding to CBN’s...
The President, Association of Bureau De Change of Nigeria (ABCON), Aminu Gwadabe, has said the recent monetary policy decisions of the Central Bank of Nigeria (CBN) have made the Naira to gain strength. Gwadabe said this in a telephone interview with the News Agency of Nigeria (NAN) on...
The African Development Bank (AfDB), has signed a 75 million dollar loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The bank announced this in a statement issued on its website late Thursday. According to the statement, the loan will enable Indorama to increase its fertilizer production...
Access Holdings Plc has unveiled plans to establish a capital raising programme of up to $1.5 billion or its equivalent. The corporation disclosed this in a statement on Friday in Lagos. The corporation said that, drawing from the programme, the Group expected to raise up to N365 billion,...
The Naira experienced a slight depreciation at the official market, trading at N1,309.39 to a dollar on Thursday. Data from the official trading platform of the FMDQ revealed that the Naira lost N8.96 or 0.69 per cent, compared to the previous day’s rate of N1,300.43 against the dollar....
The Nigerian National Petroleum Company Limited (NNPC Ltd.), has underscored the need of bridging the energy access gap to spur economic prosperity of the country. The Group Chief Executive Officer of NNPC Ltd, Malam Mele Kyari stated this at the Society of Petroleum Engineers Oloibiri Lecture Series and...
Access Holdings has revealed plans to pay a final dividend of N1.80 for every ordinary share of 50k to its shareholders for the 2023 financial year. The payment, slated for April 19, will be made electronically and is subject to appropriate withholding tax. Mr Sunday Ekwochi, the Company...
.By JOY ADARA, Abuja – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has clarified that the rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail outlets nationwide are false. Chief Corporate Communications Officer, NNPC Ltd., Mr Olufemi Soneye, said...
Nigeria’s public debt stock increased from N87.91 trillion (114.35 billion dollars ) in the third quarter of 2023 to N97.34 trillion (108.23 billion dollars ) in the fourth quarter of 2023. The National Bureau of Statistics (NBS) said this on Tuesday in its Nigerian Domestic and Foreign Debt...
By JOY ADARA, Abuja – Osun State Governor, Ademola Adeleke has vowed to revive the abandoned upgrading project for the nine technical colleges in Osun state, requesting the consultant to mobilise to the state for the completion of the project. The Governor made this declaration on Tuesday while...