Oil prices hit a two-month high on Monday as a result of the tightening of US crude market and the threat of sanctions against OPEC-member, Venezuela. Brent crude futures traded at $52.90 per barrel, its highest since May 25, while West Texas Intermediate (WTI) rose by 16 cents to trade at $49.87 per barrel. Oil […]
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Foremost African financial institution, Guaranty Trust Bank plc, marks its listing on the London Stock Exchange whereby the Bank became the first Nigerian bank to list on the London Stock Exchange (LSE), the first to dual list on an international exchange and the first Nigerian company to raise international capital using listed Global Depositary Receipts. […]
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Acting President, Prof. Yemi Osinbajo today in Port Harcourt inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the cost of $1.5 billion. The acting President used the opportunity to remind all Nigerians that time has come for them to grow whatever they eat and produce whatever they consume. “What […]
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Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s foremost conglomerate, has announced financial results for its second quarter ended June 30, 2017, showing significant growth in key financial indicators. The company recorded N4.2bn as profit after tax (PAT) for the half-year ended 30th of June 2017, translating into 134 per cent growth compared to the loss of N12.19bn […]
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Africa Prudential Registrars Plc has been named the Best Registrar Firm in West Africa by Africa-Canada Trade Alliance at the 7th Edition of the West Africa Innovation and Excellence Awards ceremony which held at Abuja recently. According to a letter issued by the organisers, the innovation award celebrates outstanding innovations, brands and personalities in the […]
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A total of N652.229 billion has been distributed as federal allocation for the month of June 2017 to the federal government, state governments and local government councils. The communiqué issued by the sub-committee of the Federation Accounts Allocation Committee, FAAC, of the Office of the Accountant-General of the Federation, at the end of the meeting […]
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The International Monetary Fund (IMF) projects that Nigeria’s economy will grow at a faster pace than the South African economy in the 2018 fiscal year. According to its World Economic Outlook (WEO) for July 2017, the IMF said Nigeria will grow at 1.9 percent in 2018, while South Africa will only climb by 1.2 percent. […]
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The International Monetary Fund (IMF), says the UK and US economies will expand more slowly in 2017 than previously predicted. As reported by the BBC, IMF said “weaker-than-expected activity” in the first three months of the year meant the UK would grow by 1.7%, compared with an earlier 2% forecast. And the IMF revised down […]
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The Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, Tony O. Elumelu, CON, has called on African leaders and development institutions to help address the deepening job and employment crisis bedevilling the continent by lending support and paying more attention towards the agricultural sector, creating access to electricity and developing entrepreneurship. Elumelu who said this while speaking on […]
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The Asset Management Corporation of Nigeria (AMCON) has taken over Gateway Portland Cement Limited. This followed an injunction which the federal high court, Abeokuta, granted against the company on Friday. Charles Adeogun-Phillips, AMCON’s receiver, has taken possession of Gateway Portland Cement Limited factories and facilities located in Abeokuta and Mowe areas of Ogun state. In his […]
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