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…]
Business
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…]
FIRSTBANK’S FIRSTADVANCE – FINANCIAL EMPOWERMENT FOR GOOD REASONS
Ade is a hardworking father in Lagos. Recently, fate dealt him a heavy blow when his young son, Tunde, fell scarily ill. Tunde’s illness struck suddenly, sending shockwaves through Ade’s world. As he watched his son grow weaker on a hospital bed with each passing hour, Ade felt an overwhelming[Read More…]
Olufowose succeeds Hassan-Odukale as First Bank chairman
A Non-executive Director of FirstBank Nigeria Limited, Ebenezer Olufowose, has been appointed to succeed Tunde Hassan-Odukale as the chairman of the bank. According to a corporate filing recently the parent company of the bank, FBN Holdings informed the Nigerian Exchange Limited and the investing public of the change in leadership[Read More…]
Dangote Cement, NB lead consumer goods firms in tax expense
Out of seven listed consumer goods firms in Nigeria, Dangote Cement Plc, Nigerian Breweries Plc, and International Breweries Plc recorded the most tax expenses last year, a BusinessDay analysis has shown. According to the firm’s latest financial statements, Dangote Cement had a tax expense of N97.5 billion in 2023, up[Read More…]
NGX: Transcorp Power, First Bank among top entities as investors gain N226bn
Investors in the Nigerian equities market enjoyed the third consecutive day of profit with a gain of N226 billion at the close of trading on Wednesday. This followed strong performances by Transcorp Power, Transcorp, First Bank of Nigeria Holdings (FBNH), and Africa Prudential Insurance in today’s trading. After five hours[Read More…]
Challenges, Policy Reforms, Projections To Shape Nigeria’s Economic Narrative in 2024.
As Nigeria strides into 2024, the economic horizon is painted with a mix of promise and challenge. Amidst a projected GDP growth of 3.3%, the shadows of inflationary pressures, rising unemployment, and currency depreciation loom large. In an exclusive interview with Olaotan Fawehinmi, Associate Director at Mediacraft Associates, he delves[Read More…]
Consumer TV
Danger of mobile phone in the kitchen
It’s dangerous using mobile phone in the kitchen
