Business

Transcorp-Hillton-Hotel

Transcorp Hotels half year result shows increased revenue, profit

Transcorp Hotels delivered a commendable 29 per cent year-on-year growth in revenue.

Group Managing Director/CEO of Notore, Onajite Okoloko.

Notore, Eroton partnership enhances productivity at fertilizer plant

Notore is the primary supplier of fertiliser for the ongoing Anchor Borrowers’ Programme (ABP) of the Federal Government.

PENCOM

Nigeria’s pension fund assets hit N8.14 trillion — PenCom

It also said N5.2 trillion has been invested in Federal Government Securities by PFAs.

Director-General, Debt Management Office, DMO, Patience Oniha

Only three corporate entities accessed domestic bond market in 2017 – DMO

The report stated that in five consecutive years, the federal government’s bonds witnessed over subscription.

Pic.4. FAAC meeting concluded in Abuja, FG, States, LGs share N647.39bn

Buhari intervenes on solution for FAAC revenue sharing controversy 

Three tiers of government share N821.9 billion allocation for June.

Central bank of Nigeria (CBN)

CBN provides $340 million, CNY69 million for agric, raw materials

CBN had on July 20 announced the commencement of its intervention in the sale of foreign exchange in Chinese currency.

Nigerian-Stock-Exchange

Stock market upbeat as capitalisation gains N76 billion

The All-Share Index which opened at 36,427.22 rose by 209.75 points or 0.58 per cent to close at 36,636.97.

L-R: Managing Director/Chief Executive Officer, Cement Company of Northern Nigerian (CCNN), Ibrahim Aminu, Chairman CCNN Plc, Alhaji Abdulsamad Rabiu, Company Secretary CCNN Plc, Ahmed Aliyu and Director CCNN Plc, Alhaji Kabiru Rabiu at the 39th Annual General Meeting of BUA Cement Company of Northern Nigeria(CCNN) in Sokoto recently.

Sokoto Cement nets N3.3bn profit after tax in 2017

An official describes the revenue increase as the highest in the company’s history.

oil-barrels

Nigeria raised N748bn from oil tax, royalty in 2017 – DPR

The revenue represented about 83 per cent of the agency’s target.

Murtala Muhammed International Airport, Lagos

Lagos records highest fare for air travels in June – NBS

Abuja had the highest average fares for road travels within the city and intercity.

Nigeria Air

How Nigeria Air will be financed — Infrastructure Commission

Of about $300 million funding estimate, the government will provide $55 million upfront grant/viability gap funding.

Cement Company of Northern Nigeria's production plant [Photo: sokotocement.com]

Cement Company of Northern Nigeria declares N1.25k dividend

The company shareholders vote to retain Abdulsamad Rabiu as chairman

9mobile

Timeline for 9mobile acquisition extended

The processes involved in the acquisition has been marred by controversy since 2017.

A NIPCO filling station used to illustrate the story on authentic data

Nigerians paid less for petrol, diesel, kerosene in June – NBS

Borno, Kebbi and Sokoto were the states where Nigerians paid the highest average prices for petrol.

The Director General, Bureau of Public Enterprises (BPE), Alex Okoh

Why Nigeria’s power privatisation hasn’t achieved full objective — BPE boss

The DG speaks about the (in)efficiencies of the current operators of the electricity distribution companies.

From left: Representative of Governor of Oyo State, Prof. Niyi Olowofela; Director, Dangote Group, Halima Aliko-Dangote and representative of Aliko Dangote, Mr Ahamed Manzor; at the University of Ibadan School of Business Eminent Person lecture delivered by Aliko Dangote in Ibadan on Wednesday (25/7/18). 04014/25/7/7/2018/Olayinka Bode-Are/MA/JAU/NAN

Dangote donates N300 million business school to University of Ibadan

The business mogul says his foundation would continue to prioritise education as a means of raising entrepreneurs

nigerian_stock_exchange

NSE: Crucial indices decline further by 0.30%

Forte Oil recorded the highest loss to lead the laggards’ table, dropping by N2.10 to close at N23.10 per share.

Union Bank of Nigeria

Union Bank records half year N11.7 billion profit before tax

The profit before tax indicated an increase of 23 per cent compared to N9.5 billion in the corresponding period of 2017.

Naira notes

Naira gains marginally against dollar at parallel market

The Nigerian currency gained 50 kobo to close at N358, stronger than N358.5 traded on Tuesday.

Konga

Konga to re-launch ‘pay on delivery’

The e-commerce company says it has achieved 97% same-day deliveries.

Someone operating a mobile phone [Photo: IT News Africa]

16,287 telecom subscribers changed network providers in June – NCC

13,203 subscribers ported within the networks in May, showing an increase of 3,084 in June.

Buhari’s minister in N993,000 hotel accommodation double payment mess – Report

The report of the Auditor-General questions double payment for same service.

Central bank of Nigeria (CBN)

CBN plans incentives to boost credits to manufacturing, agric sectors

MPC retains controlling rates for 11th consecutive time.

President Muhammadu Buhari and President of the Republic of Niger, Mahammadou Issoufou witnessing the signing of the Memorandum of Understanding (MoU)

Nigeria signs pipeline, refinery MoU with Niger Republic

The pipeline is to be constructed from Niger to Katsina State where a new refinery would be sited.

Ayo Teriba, Vice Chairman, Technical Committee of the National Council on Privatisation

Nigeria must privatise more assets – Economist

Mr Teriba said the economic recession of 2016 was caused by illiquidity.