Business

The Nigerian National Petroleum Corporation (NNPC) has a stock of over two billion litres of Premium Motor Spirit (PMS), also known as petrol, to ensure a hitch-free end-of-year movement of motorists, a period hitherto sometimes characterized by supply and demand disequilibrium. Speaking at the weekend after his investiture as Honourary Special Marshal by the Federal Road Safety Corps (FRSC), the …

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The President of African Development Bank, Dr Akinwumi Adesina, says Nigeria needs more investment in rural infrastructure to boost agricultural production in the country. Adesina on Tuesday in Des Moines, USA said that the country must continue to operate policies that would assist farmers in accessing seeds and fertilisers easily. “We must continue to run public policies that get access …

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The Senate has commenced investigation of the circumstances surrounding the return of embattled ex-Chairman of the Presidential Task Force on Pension Reforms,  Abdulrasheed Maina, and his reinstatement into the civil service of the Federal Government. The lawmakers at the plenary on Tuesday took turns to condemn those in the administration of President Muhammadu Buhari, who they said were rubbishing the …

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…Claims revenue-generating agencies under-remitted N1.7trn in 4yrs  …NNPC operated N3.1trn deficit Shocking revelations emerged at the Senate, yesterday, that almost all  various federal revenue-generating agencies have short-changed the Federal Government to the tune of N1.7 trillion, through under-remittance of revenues generated between 2012 and 2016. It was also discovered that the Nigerian National Petroleum Corporation ( NNPC), ran at a …

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Jingdong Hua, Vice President and Treasurer Nigeria is already one of the largest economy and the country with the biggest population on the African continent. By 2050, it will be home to 410 million people, making it the third most populous country in the world. Sustained economic growth is therefore imperative to meet the challenges of this demographic transformation, bringing …

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Against all odds, Fidelity Bank Plc has posted an impressive third quarter earnings, at both top and bottom line for the period ended September 30, 2017. A breakdown of the company financial report shows that the bank was able to grow its gross earnings by 17.89 percent from N110,346 billion in 2016 to N130,086 billion in 2017. Profit before income …

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The creative artistes, who participated in this year’s edition of Lagos Comic Con, got a booster from Heritage Bank Plc as the financial powerhouse allayed their fears over inaccessibility of funds for operators in the industry. Speaking at the 6th edition of Lagos Comic 2017, held at NECA House, Ikeja, Lagos, on Saturday, Chubike Agu of the Corporate Communications Department of Heritage …

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The Board of AshakaCem has approved the exchange of shares held by minority shareholders for shares in Lafarge Africa, the majority shareholder. The approval was given at the Extraordinary General Meeting (EGM) held in Abuja on Monday, October 23, 2017. Minority shareholders will receive 57 Lafarge Africa shares for every 202 AshakaCem shares. This makes AshakaCem a fully-owned subsidiary of …

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FCMB Group Plc On Monday October 23, 2017 said it has entered into an agreement with other shareholders of Legacy Pension Managers Limited for the acquisition of an additional 60 percent stake in Legacy. According to a statement sent to the Nigerian Stock Exchange (NSE), the proposed acquisition will increase FCMB’s interest in Legacy to 88.2 percent, thus making Legacy …

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The total assets under the Contributory Pension Scheme rose to N7.09 trillion as of the end of August, this year. Figures obtained from the National Pension Commission revealed that the funds had continued to maintain a steady growth since inception of the scheme. PenCom stated that the aggregate pension assets under the CPS grew from N4.61 trillion as of the …

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