After a pay-out of N2.95 kobo, shareholders of Friesland Campina Nigeria Plc on Thursday in Lagos, approved a final dividend of N7.70 kobo that was proposed by the board of directors for the financial year ended December 31, 2016. The 2016 dividend payout represents 75 percent of the company’s profit after tax, which is in line with its dividend policy …

The Managing Director /CEO of the Nigerian Aviation Handling Company Plc, (NAHCO Aviance) Mr. Norbert Bielderman has resigned from the aviation cargo and aircraft handling giant going concern. Bielderman who gave three months’ notice would formerly disengage from the company on the 31st August, 2017. A statement from the company posted on the Nigerian Stock Exchange (NSE) site, and signed …

The Hotel Owners Forum in Abuja has said that consistent multiple taxations on hotels in the Federal Capital Territory could force them out of business. The President of HOFA, Dr Chike Ezeudeh, on Thursday in Abuja said, “It is not easy when you have a business and you are confronted with over 25 different taxes to pay, with some of …

A new nanosatellite by Nigeria will be launched before the end of May, an official said in New York on Thursday. The Director General of the National Space Research and Development Agency, Prof. Seidu Mohammed, said the launch would be in conjunction with Japan, Ghana, Bangladesh and Nepal. Nanosatellite is applied to an artificial satellite with a wet mass between …

The Islamic Development Bank is planning to make Nigeria its regional operational hub in Africa. The move is part of efforts aimed at improving its efficiency and performance in its operations, as well as financing key projects on the continent. The President, IDB, Dr. Bandar Hajjar, disclosed this at the opening ceremony of the 42nd meeting of the bank. The …

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said a number of steps have been taken to maintain the pump price of Premium Motor Spirit (petrol) at N145 per litre despite significant challenges in the downstream sector. Kachikwu stated this in Lagos on Wednesday in a keynote address at the Rainoil 20th Anniversary Lecture. The minister, who …

The Nigerian National Petroleum Corporation on Wednesday announced that it had re-commissioning its Kano depot so as to boost the supply of petroleum products in the northern region. The Kano depot is part of the NNPC’s System 2D pipeline network, but was knocked down three-and-half years ago by vandals. The Group Managing Director, NNPC, Dr. Maikanti Baru, said the re-commissioning …

The Minister of State, Petroleum Resources, Dr Emmanuel Ibe Kachikwu, has given himself a pass mark. Speaking during an interactive session with reporters on the sidelines of the offshore technology conference in Houston, Texas, United States, he listed the opening up of the downstream sector, private investment and diversification of products sourcing through the introduction of Price Modulation Mechanism (PMM) …

Global oil supply fell by 41,000 barrels per day (bpd) in April, the Organisation of Petroleum Exporting Countries (OPEC) said in this month’s oil market report. The organisation said world oil supply fell by 0.41 million barrels per day (mbpd) in April to average 95.81 mbpd. However, global oil production was 831,000 barrels daily higher than a year ago and …

The Federal Government’s 20,000 megawatts (Mw) of electricity target is too small for the country, Green Elec Chief Executive Officer,  Mr. Marcel Hochet, has  said. He said the government should rather focus on achieving 40,000Mw to meet its energy need. Green Elec is a solar energy solution firm with offices in Nigeria and Fran In an interview in Lagos, he …