Companies

Julius Berger plans to expand into oil, power industry in Nigeria

Julius Berger Nigeria Plc, the largest construction company in Nigeria by market value, plans to acquire oil assets and expand into the power industry as it seeks to diversify its business and stay competitive after the country’s worst economic slump in decades. Bloomberg quoted the company’s managing director, Wolfgang Goetsch, as saying in an interview […]

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NB

99% packaging materials sourced locally by NB for sustainable development

In its quest for sustainable development in the manufacturing sector, the Nigerian Breweries (NB) Plc says it sources 99 per cent of its packaging materials locally. Patrick This was disclosed by Olowookere, the Corporate Communications and Brand Public Relations Manager of the company, at the Ibadan brewing plant on Thursday. Olowookere said that the percentage […]

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Michelin group’s global workforce to downsize by 1.8 pct by 2021

French tyre maker Michelin said on Thursday it planned to cut 1,950 jobs by 2021, mostly in France, as it reorganizes its regional divisions while avoiding compulsory layoffs. Michelin said it would replace only 3,500 of the 5,000 French workers expected to leave or retire by 2021, as it cuts 970 positions at its Clermont […]

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Nestle CEO sees transparency as path to regaining status

Nestle and other big brands have to go “an extra mile” to win consumers’ trust, as the world’s largest packaged foods maker battles the small, local upstarts that are currently winning in the marketplace, its new CEO said on Thursday. Mark Schneider, who took charge of the maker of KitKat chocolate and Nescafe coffee in […]

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NNPC

NNPC loss persists, records ₦39.3bn deficit in four months

The monthly financial losses of the Nigerian National Petroleum Corporation since the beginning of this year continued in the month of April. Figures from the firm’s latest oil and gas report showed that the NNPC Group lost a total of ₦39.3bn between January and April 2017. The corporation’s deficit, which stood at ₦33.99bn in March […]

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₦140 billion lost every week to Apapa Wharf road – Dangote

The President, Dangote Group, Aliko Dangote yesterday said the Federal Government loses about ₦140billion weekly because of the deplorable condition of the Apapa ports access roads. He, however lauded, the government’s decision to reconstruct the failed Apapa Wharf road. Dangote said: “The economy loses more than ₦20 billion daily. It affects businesses across the country. […]

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Forte Oil plans to sell shares worth ₦20 billion

Forte Oil Plc has made its plans known, to sell shares worth ₦20 billion to institutional and high net worth investors, and has applied for regulatory approval for the transaction. The energy firm said on Monday that the capital raising would be done as a public offer for shares through a book-building process to help […]

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Infinix Mobility stores in 7 cities in Nigeria

In a committed effort to extend its products and services to its customers across the nation, Infinix Mobility has unveiled first set of exclusive stores in seven cities in Nigeria. Assuring to give customers the exclusive Infinix experience with an all Infinix products and accessories store, the exclusive stores, according to the company are located […]

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FG hands over reconstruction of Wharf Road to Dangote, Flour Mills

Federal Government has handed over the Apapa Wharf troubled road to Dangote and Flour Mills for concrete overlay reconstruction which is expected to gulp ₦4.3billion. This was the outcome of the Memorandum of Understanding (MOU) signed at the weekend in Lagos by the Federal Government with the two companies to repair the road. The construction […]

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Julius Berger records ₦3.8 billion loss in 2016, ‘worst year in 3-decade’

Hit by the country’s economic recession and the devaluation of the nation’s currency which paralysed most projects last year, Julius Berger recorded a loss of ₦3.8 billion in 2016 financial year. This represents a 256.4 percent decline compared to a profit after tax of ₦2.4 billion gained in 2015. Addressing shareholders at the company’s 47tth […]

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Amazon is buying Whole Foods at $13.7 billion, U.S. stock dips in process

Amazon is buying Whole Foods in a stunning move that gives it hundreds of stores across the U.S. – a brand-new laboratory for radical retail experiments that could revolutionize the way people buy groceries. The deal valued at $13.7 billion unites the company that persuaded people to buy books – and then everything else – […]

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