Companies

Forte Oil plans to raise N100bn for expansion

[su_dropcap]F[/su_dropcap]orte Oil Plc is set to raise N100 billion fresh capital to expand its operations within Nigeria. Consequently, the directors of the company are seeking the approval of shareholders at the forthcoming annual general meeting to raise the funds, reports. According to the company, the N100 billion could be raise through a rights issue, bond […]

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Nigeria’s aviation industry passes ICAO audit

[su_dropcap]F[/su_dropcap]ollowing an 11-day Universal Safety Oversight Audit Programme conducted on Nigeria’s aviation industry, the International Civil Aviation Organisation has described the progress and development of the sector as satisfactory. This was disclosed by the auditors during the presentation of the preliminary audit result and their assessment of the aviation industry at the closing meeting of […]

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Unilever Nigeria profit hits N1.19b

Unilever Nigeria has recorded Profit After Tax (PAT) of N1.19billion in the forth quarter of 2015, as against the N141 million it posted at the close of trading in the third quarter. The company also recorded a turnover of N59.2 billion for the year ended 31 December ,2015, representing a 6.2 per cent growth in […]

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‘120 killed in electricity accidents last year,’ according to NERC

[su_dropcap style=”light”]N[/su_dropcap]o fewer than 120 deaths arising from accidents were recorded in the power sector in 2015, the Nigerian Electricity Regulatory Commission has said. According to NERC, the sector also recorded 117 injuries during the period, as it decried the high number of casualties in the industry despite having trained engineers in the workforce. The Manager, […]

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Etisalat celebrates channel partners

ETISALAT Nigeria’s Director for Channel Sales, Victor Nwaobia, says that the telecoms company places a lot of value on its partners whose roles are critical to the success of the business. He spoke at the company’s exclusive business conference and gala night for its crème of channel partners. Nwaobia said, “It is part of the […]

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Sterling Bank

Sterling Bank grosses N10.3bn profit

STERLING Bank Plc has posted a profit after tax of N10.3bn for the year ended December 31, 2015, which represents a rise of 14.3 per cent over last year’s figure. Its profit before tax rose by 2.5 per cent to N11bn, which the bank attributed to a higher retention of organic capital, compared to the previous […]

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Power ministry behind Nigeria’s Electricity desolation – Minister

Over the years, the trouble in the Power ministry has been one of the reasons slowing down the growth in electricity generation and supply across the country, the Minister of State for Power, Works and Housing, Mustapha Shehuri, has said. Shehuri also announced the Federal Government’s new power generation target of 25,000 megawatts by the […]

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Official: MTN withdraws charges against FG

MTN Nigeria has formally announced the withdrawal of the court case against the federal government of Nigeria. According to a statement issued on Friday, this is in order to pave way for continue settlement discussions with the Federal government towards an amicable resolution of the matter in the best interests of the Telecom company and […]

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PZ Wilmar spends N20m on promo

PZ Wilmar, producers of Mamador cooking oil has spent over N20 million including three brand new Hyundai Accent cars to appreciate customers in its ‘Mamador cook and cruise promo.’ One of the winners from Akure, a 19-year-old Emmanuel Enofe, an undergraduate, went home with a brand new Hyundai Accent car presented to him by Head […]

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Nitel/Mtel creditors urges Pres. Buhari for payment

CREDITORS to the defunct Nitel/Mtel have sent a distress call to President Muhammadu Buhari seeking his intervention in the settlement of their claims. Some of the creditors, who spoke with journalists in Abuja Tuesday, decried what they described as the unwarranted delay in the settlement of their claims. According to them, NATCOM Consortium which acquired the core […]

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GTB gross N302bn, declares N121bn pre-tax profit

THE Nigeria’s most capitalised banking stock yesterday made announce its audit. Guaranty Trust Bank (GTB) Plc, yesterday announced its earnings report for the year ended December 31, 2015, showing growth across key top-line and profitability items. Key extracts of the audited report and accounts for the year ended December 31, 2015 showed that gross earnings […]

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