News

Shoprite considers selling majority stake in Nigerian business
  • 07 August 2020
  • News

Shoprite Holdings Limited is weighing its ownership options for its outlets in Nigeria.In an “Operational and Voluntary Trading Update 52 Weeks Ended 28 June 2020” released on Monday, the company...

NIGERIA:NNPC rakes in N2.3tn from petroleum sales.
  • 07 August 2020
  • News

The Nigerian National Petroleum Corporation (NNPC) said it generated N2.393.88 trillion from the sales of petroleum products from May 2019 to May 2020. In its May 2020 Monthly Financial and Operations...

Nigeria:Over 700 contractors bid for rail projects
  • 07 August 2020
  • News

The Nigerian Railway Corporation (NRC) on Wednesday opened bids for the prequalification of contractors for the 2020 capital projects. Daily Trust reports that over 700 bidders are jostling for the 20...

Nigeria:Flour Mills records N11.4bn trading profit
  • 07 August 2020
  • News

Flour Mills of Nigeria Plc (FMN), an agro-allied firm in Africa has announced N11.4 billion Profit after Tax (PAT) representing 184% in its 2019-2020 financial report. The company in a statement said...

NIGERIA:LEKOIL signs agreements for Otakikpo JV
  • 07 August 2020
  • News

LEKOIL has signed agreements for the development of the next phase of the Otakikpo marginal field.Further to the execution of a non-binding Memorandum of Understanding (MoU), the Otakikpo Joint Ventur...

Nigeria:NB records N5.7bn profit in H1, 2020
  • 06 August 2020
  • News

The Board of Directors of the Nigerian Breweries Plc has released the company’s trading results for the half-year ended June 30, 2020. According to its unaudited and provisional results filed wit...

Nigeria:BUA Cement H1, 2020 revenue increases to N101.3bn
  • 06 August 2020
  • News

One of Africa’s largest cement producers, BUA Cement, has announced an impressive 2020 half-year results declaring revenue of N101.3 billion and a Profit After Tax of N34.82 billion representing...

Nigeria:Sterling Bank, stakeholders brainstorm on driving foreign trade
  • 06 August 2020
  • News

To highlight and address challenges of the manufacturing and trade sectors in light of the COVID- 19 pandemic, Sterling Bank Plc held a webinar for customers in import/export businesses.In a keyn...

Nigeria:Electricity grid records 5377MW peak generation
  • 06 August 2020
  • News

The Nigerian power grid rose to 5,377 megawatts (MW) peak power generation on Saturday night, a feat attained 18 months after the previous record. The Transmission Company of Nigeria (TCN) disclosed t...

$500m loan: No plan to take over Nigeria’s sovereign right — China
  • 06 August 2020
  • News

The Chinese government says there’s no clause in the $500 million loan it gave to Nigeria that include taking over its sovereignty.The House of Representatives had in the probe of Chinese loans to Nig...

Stock Market Today: Flour Mills Nigeria Leads Gainers Chart, As UACN Top Losers
  • 05 August 2020
  • News

The Nigerian stock market closed at 4,718 deals today, Monday, August 3, 2020, while the volume dropped to 186.4 million units today, from the 169.9 million units of Monday, while the value of trades...

Shoprite exits Nigeria after 15 years
  • 05 August 2020
  • News

South Africa owned grocery retail giant, Shoprite, has announced that it is exiting Nigeria after 15 years of operations and months of decline in sales.In a statement released on Monday, August 3, the...

Nigeria:Notore declares N17.4bn revenue in 9 months
  • 05 August 2020
  • News

Notore Chemical Industries Plc, a fertilizer and agro-allied company, has posted six percent revenue growth with ₦17.4 billion gross revenue and ₦3.8bn operating income for nine months ended June 30,...

Nigeria:Firstbank hosts summit to promote tech
  • 05 August 2020
  • News

First Bank of Nigeria Limited, has announced that the 2020 edition of its annual FinTech Summit will hold next Thursday virtually through Zoom meetings. The 2020 edition of the summit, which is the fo...

Nigeria:JAIZ Bank posts N1.171bn half year profit
  • 05 August 2020
  • News

Jaiz Bank Plc, Nigeria’s premier non-interest (Islamic) bank has recorded another impressive performance in the first half of this year amidst COVID-19 lockdown as it continued to improve its cost eff...

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