The Executive Secretary, Nigeria Extractive Industries Transparency Initiative, NEITI, Dr Orji Ogbonnaya Orji, has said that the need to mobilise domestic resources for the government was the reason behind the audit of the oil, gas and mining industries. Orji disclosed this in Port Harcourt during the opening of a nationwide sensitization workshop on the conduct of […]
Shareholders of Zenith Bank Plc Wednesday approved the proposed final dividend payment of N3.50 per share, bringing the total dividend for the 2023 financial year to N4.00 per share, with a total value of N125.59 billion. This is the highest dividend payout by any bank, the bank stated. This was the major highlight of the […]
Otunba Layiwola Folorunso Oriowo has been appointed as a Director of Odu’a Investment Company Limited (OICL) effective 7th May 2024. Otunba Oriowo replaced Dr. Segun Aina, OFR who has successfully completed his four-year tenure on the board of OICL. Otunba Oriowo, according to Mr Victor Ayetoro, the senior manager, Branding and Communication, is a consummate […]
Shell Nigeria says it exclusively paid a total of $1.09bn in corporate taxes and royalties to the Nigerian government in 2023, through the operations of the Shell Petroleum Development Company of Nigeria Limited and Shell Nigeria Exploration and Production Company of Nigeria Limited. The figures, announced in the just published 2023 Shell Briefing Notes, showed […]
•616 export containers abandoned •Maersk shipping to evacuate 1,900 by tomorrow — APM Terminal The drive by the government to raise its non-oil revenue may have come under threat as no less than 4,817 containers fully loaded with export goods are currently trapped at the Lagos port. Out of this, 616 have been abandoned for over […]
Nestle Nigeria Plc has posted a 43.4 percent Year-on-Year (YoY) increase in its revenue for the first quarter ended March 31, 2024 (Q1’24). Specifically, the company grew its revenue to N183.5 billion in Q1’24 from N128 billion in the corresponding period in 2023, Q1’23. Highlights of the company’s Q1’24 financial statement filed at the Nigerian Exchange Limited (NGX) […]
Equity researchers have said that the stock market will continue on a positive trajectory this week after six weeks of consecutive negative performance was halted following repositioning by investors in anticipation of dividend declaration by corporates. They, however, said that the prospect of higher yields in the fixed income market could taper the expected rally. The […]
Many indigenous companies and International Oil Companies, IOCs, have indicated interest in bidding for the 12 onshore and seven deep offshore blocks put forward for sale by the Federal Government. Vanguard gathered yesterday that the companies have been reviewing the requirements, including technical competence and financial capacity, required by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, to […]
Undersea fibre cables linking Europe to Nigeria pass through construction corridor – ALTON, ATCON Barely 48 hours after Multichoice alerted subscribers to a three-day technical downtime, telecommunication companies have expressed concern over possible connectivity disruptions as construction advances on the 700km Lagos-Calabar Coastal Highway. While the DStv and GOtv owner acknowledged the anticipated impact of […]
Trade relations between Nigeria and the United Kingdom have reached £7bn, British High Commissioner to Nigeria Richard Montgomery said on Sunday. In an interview with the News Agency of Nigeria (NAN) in Abuja, Montgomery announced that the two nations have signed a new agreement on enhanced trade and investment partnership. The agreement aims to boost […]