ECONOMY

Nigerian Breweries Announce N43.1 Billion Profit

Nigerian Breweries has announced a profit of N43.1 billion after tax for financial year ended December 31, 3013. This reflects an increase of 13.2 percent when compared to N38 billion recorded in the same period in 2012. The company’s revenue

GTBank Targets 20% Loan Growth for 2014

  Guaranty Trust Bank (GTBank) has revealed plans to grow its loan book between 15% – 20% this year. In order to achieve this, the bank has listed its target sectors to include telecoms, oil and gas, manufacturing and

LeadTrader Offers Investors Secure Channel to Trade Shares

    Lead Securities & Investments Limited, a broker-dealer subsidiary of LeadCapital Plc launched LeadTrader on Tuesday, a new online real time trading platform at the Nigerian Stock Exchange (NSE). LeadTrader offers investors a secure channel to buy and sell

Skye Bank Post 27% Profit Rise in 2013

Skye Bank plc has announced a profit after tax of N16.02 billion for the financial year ended December 31, 2013, indicating an increase of 26.7 percent compared to N12.6 billion posted in 2012. The bank’s total assets rose from N1.0.73

Seplat Raise 300.9 Million Through IPO

Independent oil and gas company, SEPLAT Petroleum Development Company, yesterday, Wednesday, Match 9, 2014, said it raised 300.9 million pounds (about 300.9 million naira) in its initial public offering, at a dual listing in the London and Nigeria’s Stock Exchanges.

Investors Should take advantage of Africa’s Growing Market – Aganga

  The Ministry of Industry, Trade and Investment has charged entrepreneurs and investors across the globe to take advantage of Africa’s ever growing market noting that the continent’s consumer spending had begun to increase steadily. The Minister of Industry, Trade

MoneyGram Partners with Diamond Bank to Provide Premium Transfer Services

  Diamond Bank is to partner with MoneyGram to provide premium money transfer services at strategic locations in the country. Mr. Uzoma Dozie, the Bank’s Executive Director, Retail Banking said in a statement that the partnership was an important milestone

Eko, Ikeja Discos Commence Integrated Power Generation

Eko and Ikeja Distribution companies (Discos) serving Lagos, Nigeria’s commercial capital are set to commence on the integrated generation of power to boost energy supplies to Lagosians. Charles Momoh, Chairman, West Power & Gas, the private company that acquired Eko

Nigeria Plans to Re-weigh Inflation

The National Bureau of Statistics (NBS) told Reuters on Monday that Nigeria plans to re measure its inflation index from 2004 to 2009 by the end of this year to give evidence of the impact of non-food items on prices

Nigeria is the 26th Largest Economy in the World and Africa’s Biggest Economy

Nigeria becomes the 26th largest economy in the world as it has re-based its nominal gross domestic product (GDP), with estimates from $285.56 billion to $509.9 billion. The new nominal GDP places Nigeria ahead of countries like Austria with $394.7

E-commerce will propel Nigeria’s GDP – Shagaya

CEO of Konga, Sim Shagaya pointed out that electronic e-commerce is a very important driver of Nigeria’s Gross Domestic Product (GDP). He noted that the use of ICT helps to bridge the unemployment gap in Nigeria. He said this as

Events This Weekend; April 4th-6th

Dtone Martins + His Live Band Join Dtone Martins as he performs exciting soul music alongside his band. Special guests such as Olatunde, Aramide, T’mo, Ibk and GT will also be performing at the event. Date: Friday April 4th 2014

Airtel Leapfrogs Glo To Become Nigeria’s Second Largest Mobile Operator

Fresh data released by the Nigerian Communications Commission (NCC) says Airtel experienced a rise from 24,847,567 subscribers last December to 26,194,336 in February this year. This makes Airtel, the second largest network ahead of Globacom which experienced a 6% drop

Nigeria: Govt – 25,000 ‘Made in Nigeria’ Vehicles Ready This Year

Aminu Jalal, Director General of the National Automotive Council (NAC) revealed at a media roundtable in Abuja yesterday, that Nigeria auto manufacturing companies will produce 25,000 vehicles by the end of this year while the new tariff regime for the

Ethiopian Airline Extends Operations to Kano – Yadeta

Mr. Solomon Yadeta, the GM, Ethiopian Airline Nigeria said on Tuesday that the airline would soon extend its operations to Kano State. He made this known at the Airline’s Stakeholders’ meeting in Abuja. Presently, the airline is operating in

Kwara Government Grants N215m Loan to 217 Farmers

  217 farmers across 16 local governments of Kwara State are to benefit from a N215million commercial agricultural loan scheme to boost agricultural activities by the State Government. While presenting cheques to some of the beneficiaries, the State Governor, Abdulfattah

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