Business

SEC Restates Commitment To Capital Market Master Plan

Posted in Business on 21 July 2015. 254 hits.
The Securities and Exchange Commission (SEC) has restated its commitment to implement the 10-year Capital Market Master Plan as the commission gets ready to host the Second Quarter 2015 Capital Market Committee (CMC) meeting. According to a statement from the SEC yesterday, the CMC meeting will...

Nigerian Passengers Reject Delta Airlines’ Old Planes

Posted in Business on 19 July 2015. 227 hits.
Nigerian passengers have rejected the continued use of the old Boeing 767 plane deployed on the Lagos-Atlanta route by Delta Airlines. The plane, which frequently develops mechanical faults, has caused multiple flight delays and cancellations, causing the airline’s passengers to have traumatic...

Buhari Approves Over $2B For Unpaid Workers Salaries; Directs CBN To Package Over ₦250B Special Intervention Fund For States

Posted in Business on 12 July 2015. 248 hits.
In his resolve to end the lingering crisis of unpaid workers' salaries in the country, especially in several beleaguered states, President Muhammadu Buhari on Monday approved a comprehensive three-pronged relief package. These are: * The sharing of about $2.1B in fresh allocation between the...

CAP’s Shareholders Approve N595m Final Dividend For 2014

Posted in Business on 19 June 2015. 317 hits.
CAP’s Shareholders Approve N595m Final Dividend For 2014 Olushola Bello — Jun 19, 2015 1:45 am | Shareholders of CAP Plc has approved a final total dividend payout of N595 million for 2015 by the company’s management. They also applauded the management of the bank for its policy of...

Employment Directorate Worried Over Business Failures

Posted in Business on 19 June 2015. 228 hits.
The National Directorate of Employment (NDE) is to partner with the Freemans Institute of Entrepreneurship and Business Development to offer qualitative training to ensure less business failure in the country. The director-general (DG)of the NDE, Mallam Abubakar Mohammed, who dropped the hint in...

Miners To Buhari: Rescue Solid Minerals Sector From Cabals

Posted in Business on 19 June 2015. 261 hits.
  Miners To Buhari: Rescue Solid Minerals Sector From Cabals NSE ANTHONY-UKO — Jun 19, 2015 1:48 am | President Muhammadu Buhari must rescue the solid minerals sector from the cabal that has held it hostage for nearly two decades if the new administration is to unleash that industry’s...

Dubai-Based Company Set To Launch Africa’s Largest Solar Plant

Posted in Business on 17 June 2015. 220 hits.
Access Infra Africa, a Dubai-based company, will launch what it says will be “Africa’s largest privately owned solar plant” in Uganda this year. This is part of plans to develop electricity projects based on renewable energy in 17 African countries. An International Energy Agency (IEA) report...

Unilever Pledges To Attract FDIs To Nigeria

Posted in Business on 17 June 2015. 216 hits.
Global leader in the Fast-Moving Consumer Goods market, Unilever Plc, has pledged to attract more Foreign Direct Investments (FDIs) to Nigeria while underlining the company’s commitment to growing business sustainably and delivering innovative brands for Nigerian consumers. Mr. Paul Polman,...

Top 10 Performing Stocks For Last Week

Posted in Business on 17 June 2015. 288 hits.
PZ Industries Plc led the cream of top ten price gainers on the Nigerian Stock Exchange, NSE last week, rising by 19.86 per cent to close last week Friday at N35.00 per share from N29.20 it close penultimate week. Twenty four equities appreciated in price during the week under review, lower than...

Women Traditional Leaders Oppose GMO In Ghana

Posted in Business on 15 June 2015. 208 hits.
Queen mothers in the Brong-Ahafo region of Ghana have unanimously called on the country's parliament not to pass the Plant Bleeders Bill. The traditional leaders, representing all the 45 traditional sub divisions in the region, threatened to embark on series of demonstrations if their call is...

Nigerians Outnumber South Africans For The First Time On Forbes 'Africa’s 50 Richest People' List

Posted in Business on 15 June 2015. 239 hits.
Forbes Magazine has just published its yearly ranking of Africa’s 50 richest people. The release of the list has garnered much attention as for the first time, more Nigerians are featured then South Africans. The 50 parties possess an aggregate $111bn wealth. Nigerian Aliko Dangote tops the...

The Hague Hindrance: Shell, The Nigerian Content Development Act 2010 And Award Of The Trans Niger Pipeline Projects By Ebitimi Amgbare

Posted in Business on 15 June 2015. 248 hits.
The Nigerian Oil and Gas Industry Content Development Act (“Local Content Act”) signed into law by President Goodluck Jonathan was the outcome of several years of agitation by the citizenry and indigenous stakeholders in the hydrocarbon industry to ensure that the sector is both valuable and...

Nigeria Gradually Becoming A Hub For Internet Companies

Posted in Business on 15 June 2015. 224 hits.
Nigeria Gradually Becoming A Hub For Internet Companies The Internet, since its invention in the 1960s has gradually grown into a desired necessity in our daily lives. An average person uses the internet 10-15 times a day while a great number of individuals almost never get off it. The Internet...

The Flashing Signs Of Economic Disaster By Niyi Omidire

Posted in Business on 15 June 2015. 258 hits.
I am not a seer or a prophet of doom however recent happenings in the global macroeconomic environment warrants that policy makers are warned of the impending economic disaster that awaits Nigeria. Last week there were reports on Bloomberg of Nigeria’s Central bank buying naira and selling...

Corporate Hijack Of Port Harcourt-Based Firm Headed For Court

Posted in Business on 15 June 2015. 226 hits.
On April 22, 2015, SaharaReporters published a report titled “Bart Nwibe, Other Directors Of SDS Accused Of Plotting To Push Out Founding MD.” The report highlighted an apparent scheme by Bart Nwibe and a group of other directors close to him to seize control of a Port Harcourt-based company,...

Arik Air Abandons New York Bound Passengers In Lagos

Posted in Business on 15 June 2015. 181 hits.
New York bound intending passengers on Arik Air have been stranded at the Murtala Muhammed International Airport, Lagos. The News Agency of Nigeria (NAN) airport correspondent reports that the intending travelers, numbering no fewer than 100 were stranded at the airport since April 17. The...

The Modest Strides Of A Vilified President By Honest Offor

Posted in Business on 15 June 2015. 226 hits.
P.U Global Engineering services is one of the many indigenous oil servicing firms in Nigeria that owes its existence to the Nigerian Content Act, signed into law by Dr. Goodluck Ebele Jonathan. Today, jobs that were hitherto outsourced to foreign firms because of lack of indigenous technology...

Guinness Nigeria: Profit Heads For 9-Year Low

Posted in Business on 15 June 2015. 198 hits.
Guinness Nigeria is still headed downward in terms of profit performance in the current financial year ending June. The brewing company closed its last financial year with the lowest profit figure in eight years and further drop looks quite likely this financial year. Based on the second...

Ghana, Nigeria In Billion-Dollar Debts, Borrowing Frenzy By Dr. Peregrino Brimah

Posted in Business on 15 June 2015. 153 hits.
In Ghana the conversation in the Senate and on the media has been direct—place a moratorium on Government borrowing for one to two years prior to any election. Nigeria is yet to have its conversation despite a worse crisis. Nigeria has been borrowing aggressively in recent years. The Jonathan...
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