Business

Shareholders of Dangote Cement Plc (DCP) yesterday approved the N178.9 billion dividend recommended for the year ended December 31, 2017 and commended the board and management for the impressive performance despite the challenging operating environment. The cement company, which is the biggest firm listed on the Nigerian Stock Exchange (NSE) ended 2017 with a profit after tax of N204.2 billion, …

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Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has unveiled a new integrated marketing brand campaign. The Chief Executive Officer, Stanbic IBTC Holdings, Yinka Sanni, while speaking at a press briefing in Lagos on Tuesday, said the new campaign was reinforcing the brand’s focus of enabling customers to be all they could be. He said the campaign was …

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The nation’s total public debt increased by 4.52 per cent in the first three months of the year, data from the Debt Management Office showed on Wednesday. The public debt increased from N21.73tn ($71bn) in December 2017 to N22.71tn ($74.28bn) at the end of the first quarter of 2018. The DMO said in a circular on Wednesday that the increase …

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The Airline Operators of Nigeria has commended the Federal Government for issuing an Executive Order for the removal of Value Added Tax from air transportation. According to the AON, following the Federal Executive Council meeting of June 6, 2018, the Federal Government ordered that VAT should be removed from all forms of shared transportation. “This presents a veritable opportunity for …

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May & Baker Nigeria Plc has signed an agreement with the National Institute for Pharmaceutical Research and Development (NIPRD) for the commercial production of anti-sickle cell drug, NAPRISAN. The agreement was signed in Abuja by May & Baker Nigeria Managing Director Mr. Nnamdi Okafor and NIPRD Acting Director-General Professor Olabayo Kunle, with Minister of Health, Professor Isaac Adewole as a …

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President Muhammadu Buhari has eventually signed the 2018 Budget into law, saying inspite of late passage of the budget, he would do his best to implement the 2018 budget. Meanwhile, at a signing ceremony that took place in one of the President’s offices, Presidential Villa in Abuja, Senate President Bukola Saraki and the Speaker of the House of Representatives, Yakubu …

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FirstBank of Nigeria Limited has unveiled a partnership with VisionSpring, a not-for-profit global organisation based in the United States of America to provide free eye screening and glasses to 10,000 low-income earners across the country in the next two years. The pilot scheme, which was funded by the bank and begins this year, is to cover 2,000 people across the …

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There are strong indications that Diamond Bank Plc will before the end of the year, convert its international banking licence to a national one. This followed the sale of the bank’s assets outside the country and its resolve to take advantage of the banking opportunities Nigeria’s huge population presents. A reliable industry source, who disclosed this to THISDAY, said the …

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The Distillers and Blenders Association of Nigeria (MAN), a sectoral group of the Manufacturers Association of Nigeria (MAN) has accused the Minister of Finance, Mrs. Kemi Adeosun, of executing the agenda of International Monetary Fund (IMF) in the management of the country’s economy. Chairman of Distillers and Blenders Association of Nigeria (DIMAN), Mr. Patrick Anegbe, while speaking with newsmen in …

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…Task Govt On Gas Adulteration As part of its strategic growth drive, BOC Gases Plc on Tuesday projected a N5 billion revenue for its operation by the year 2020, even as it tasked the federal government on the need to have rules in place to check adulterations in gases that could be injurious to health. The company said the profit …

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