Category Archives: Industries

Lawmaker charges women to embrace savings culture, unveils empowerment scheme

A member of the House of Representatives representing Egbeda/Ona Ara Federal Constituency of Oyo State, Hon. Akin Alabi, has called on women in the country most especially those in the rural areas, to cultivate a savings and investment culture for

Dangote cement maintains dominance

Dangote Cement Plc remains the dominant cement manufacturing firm on the African continent, writes Goddy Egene Dangote Cement Plc(DCP) is one stock that investors who need regular dividend must include in their portfolios. The company has a good history of

Lagos to engage facility managers for its housing estates

Lagos State Government has said it would fully implement its policy of engaging facility managers for the maintenance of pubic estates. Permanent Secretary of the Lagos state Ministry of Housing, Mr. Wasiu Akewusola, at a meeting with representatives of government-owned

Experts task brokers to embrace technology tools for growths

The Nigerian Council of Registered Insurance Brokers (NCRIB) has been urged to deploy technology drive penetration in the Nigerian insurance market. This was disclosed at the 2019 Mid-Year Workshop of the Lagos Area Committee of brokers and other stakeholders in

Over N500b stuck in unresolved federal audit reports

About N500 billion has not been properly accounted for in the previous years’ report of the Auditor-General of the Federation, submitted to the National Assembly (NASS), due to a lack of enabling laws to compel and sanction Ministries, Departments, and

NECA seeks suspension of forex restriction on milk importation

Following plan by the Central Bank of Nigeria (CBN), to restrict of foreign exchange (Forex) for milk importation, the Nigeria Employers’ Consultative Association (NECA), has urged the apex bank to suspend the policy, as it has the potential of crippling

Ending NNPC’s deficit position

From its monthly operations and financial reports, the Nigerian National Petroleum Corporation has identified that over the last one year, its financial losses mostly came from its refineries and its corporate headquarters, writes Chineme Okafor. The Nigerian National Petroleum Corporation

‘Audit reform bill will block N200bn treasury loot’

The signing of the Audit Reform Bill has the capacity to block an annual theft of over N200bn from the national treasury, a civil society organisation, Centre for Social Justice, has said.  The bill, an aspect of the public finance

Honeywell Flour posts net profit of N108m in Q1

Honeywell Flour

Honeywell Flour Mills Plc, has announced the financial figures for the first quarter ended June 30, 2019 with a profit after tax of N108 million. The Company’s results on the Nigerian Stock Exchange (NSE) showed that profit after tax grew

Stock Market falls further, sheds N141bn on continuing bear run

Contrary to expectations that the stock market may be bullish, it declined further as mixed reactions followed announcement of results for the half year ended June 30, 2019. It was expected that the market would rebound and close last week

NAICOM bars insurance firms from borrowing to recapitalise

The National Insurance Company has barred regulated entities from borrowing money to meet their recapitalisation requirements. The Director, (Policy & Regulation), NAICOM, Agboola Pius, said this while speaking on the topic, ‘Recapitalisation roadmap: Implementation, expectation and benefits’, during an insurance

Nigeria needs flag carriers for trade – Reps

Nigeria needs flag carriers for trade

The Chairman, House of Representatives Committee on Aviation, Nnolim Nnaji, has said that Nigeria needs strong flag carriers to be successful in the African Continental Free Trade Area. Nnaji said in Lagos on Sunday that the country had remained passive