Nigeria’s premier financial institution and financial inclusion services provider has bagged two awards for Best SME Bank in Africa and Best SME Bank in Nigeria at the highly coveted Asian Banker Global Excellence Retail Finance Awards 2024. The Excellence in Retail Finance Awards programme, which include the Global Excellence in[Read More…]
Business
FBN HOLDINGS MAINTAINS IMPRESSIVE PERFORMANCE, POSTS N238.53BN PBT IN Q1 2024
FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023. The Q1 2024 results was a reflection of 2023 impressive performance as one[Read More…]
Dangote refinery to list on NGX, London Stock Exchange
Dangote Petroleum Refinery says it has plans for a dual listing on the London Stock Exchange (LSE) and Nigerian Exchange (NGX) Limited. Devakumar Edwin, executive director of Dangote Group, made this known in a Reuters report on May 28. Aliko Dangote, the founder of the refiner, was quoted in reports[Read More…]
Alia commissions fertiliser plant, promises 10 industries in 4 years
Benue state governor, Rev Fr.Hyacinth Alia, Tuesday, said his administration is working on revamping and building a minimum of 10 industries within the first 4 years of his administration. The governor also said he is aware that the Benue Investment and Property Company (BIPC) needs liquidity of not less than[Read More…]
Dangote Refinery set for June diesel exports, eyes NGX listing by December 2024
Nigeria’s Dangote Refinery, the largest in Africa, is set to begin exporting diesel fuel meeting European specifications in June, alongside the domestic sale of petrol. This news comes as the refinery ramps up production after officially launching in January 2024. “We expect before the end of next month to have[Read More…]
Nigeria Brewing Industry in Nigeria Hit Hard with Combined Losses of N169.7 Billion
Nigeria’s leading breweries faced a staggering combined loss of N169.7 billion in the first quarter of 2024, as reported by BusinessDay’s comprehensive analysis of their financial statements. Rising interest rates and the ongoing devaluation of the naira inflicted significant financial strain on Champion Breweries Plc, Nigerian Breweries Plc, International Breweries[Read More…]
Benue woos investors with tax holiday
Benue State Government has declared its intention to offer tax holidays to investors interested in investing in the state. The gesture, according to the Managing Director of Benue Investment and Property Company Limited, Dr Raymond Asemakaha, is to revive and attract more investors to the state. Asemakaha, who played host[Read More…]
Nigerian Breweries gets 90-Day Ultimatum To Resume Production Benue
In a fresh attempt to revive its industrial sector, the Benue State Government has issued a 90-day ultimatum to Nigerian Breweries Plc to resume full production at its plant in Makurdi, the state capital. The Managing Director of the Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, issued[Read More…]
Aliko Dangote Calls For More Investments To boost Africa’s Economic Growth
President of the Pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote wants increased investments in the African continent to foster its rapid growth and development. Speaking at the largest gathering of private sector leaders in Africa, the Africa CEO Forum in Kigali, Rwanda, Dangote emphasized that recent trends underscore Africa’s[Read More…]
FBN Holdings releases 2023 audited accounts, profits surge by 128%
FBN Holdings Plc, the parent company of FirstBank, has released its audited financial statements for the year ended December 2023. The group reported a profit after tax of N310.4 billion, a significant increase from the N136.3 billion reported for the same period in 2022. This marks the highest profit ever[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]