Companies

NSE backs Unilever to raise ₦59 billion in equity issue

The Nigerian Stock Exchange (NSE) has approved Unilever Nigeria PLC’s plan to raise ₦58.9 billion in new supplementary equity issue. This will pave way for the fast-moving consumer goods company to round off the pre-offer process and open subscription to the new offer. According to the document obtained at the weekend by correspondent, Unilever Nigeria […]

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Nigeria can produce 380,000 cars per year – KIA Motors

Managing Director of Kia Motors Nigeria, Mr. Jacky Hathiramani, has, in his contribution to the debate, said that the country has capacity to produce 380,000 cars per year. Jacky who was reacting to the appointment of Mr. Jelani Aliyu as Director General of the National Automotive Design and Development Council, NADDC, noted: “The auto policy […]

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7UP Bottling records ₦10.7 billion loss

The board of 7UP Bottling Company has blamed Nigeria’s harsh situation for its inability to pay dividend to shareholders from its operations as it performed poorly, having recorded ₦10.7 billion loss before tax for the financial year ended March 2017. The company also stated that due to the loss, it won’t declare dividend to its […]

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Shell’s FLNG facility in Korea departs for Australia

Royal Dutch Shell’s prelude floating liquefied natural gas (FLNG) facility has left the Samsung Heavy Industries shipyard in Geoje, South Korea to Australia, marking a significant milestone for the project. The facility, constructed by Technip Samsung Consortium, is being towed to North West Australia, where the next phase of the project will begin. According to […]

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Nigeria Stock Exchange Market

Ashaka Cement quits NSE

Ashaka Cement Plc has voluntarily delisted from the Nigerian Stock Exchange (NSE) for violation of the exchange free float deficiency provision of 20 per cent. The company announced its voluntary withdrawal in a statement posted on NSE website by the company’s directors. “The Board of Directors of Ashaka Cement Plc has opted for a voluntarily […]

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Guinness Nigeria receives SEC, NSE approvals to float ₦39.7bn issue

Guinness Nigeria Plc has received the Securities and Exchange Commission and the Nigerian Stock Exchange’s approvals to float a rights issue of ₦39.70bn. The company said in a statement on Tuesday in Lagos that it had received clearance of the issue documents from both regulators to list the new shares on the NSE. It said […]

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How did Jumia reposition e-commerce industry in Nigeria?

Jumia, online market mall, has said it repositioned e-commerce sector in Nigeria by exploring better innovative technologies and market trends, to deliver the best online shopping experience and options for customers across the country. Launched in 2012, the company said it has attracted global recognition to the industry, which also attracted huge foreign direct investment […]

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Honeywell Flour Mills grosses ₦5.5 billion in 2017

Honeywell Flour Mills Plc has recorded a profit before tax of ₦5.5bn for the 2017 financial year, which is an increased of 291 per cent compared to the 2016 PBT. It recorded a gross profit margin of 24 per cent, compared to nine per cent recorded for 2016. Its revenue increased by five per cent […]

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25 million people to benefits from LafargeHolcim’s housing scheme

Lafarge Africa Plc says its parent company, LafargeHolcim, is targeting to make 25 million people beneficiaries of its affordable homeownership scheme globally by 2020, with Nigeria representing a significant figure. The firm said it inaugurated its affordable housing scheme, known as Lafarge Easy Home, three years ago and so far, 30,000 people had been impacted. […]

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Feeling blue? Crayola wants you to name its new crayon

Crayola has the blues – five, to be exact. The iconic crayon maker left it to fans to come up with a name for a new blue crayon replacing the recently retired color dandelion. After receiving nearly 90,000 submissions, Crayola narrowed it down to five names for the crayon based on a pigment discovered in […]

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NNPC’s staff cost takes lion’s share of $33.8 bn 2016 revenue: report

The Nigerian National Petroleum Corporation (NNPC) overhead costs took the lion share of $33.8billion it generated in 2016, latest findings from BudgIT, a data and technology civic group has revealed. Further findings of the review of the corporation’s 2016 financial/operations report by BudgIT, said NNPC’s operational expenses between 2015 and 2016 consistently outstripped its revenue […]

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NB

NB targets 60 pct local materials by 2020

The Nigerian Breweries (NB) Plc unveil plans to increase sourcing of raw materials like sorghum, food grade starch and others locally from 57 to 60 per cent by 2020. Mr. Patrick Olowookere, Corporate Communications and Brand Public Relations Manager, made the disclosure to newsmen during a facility tour in Ado Awaiye in Iseyin area of […]

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