The multilateral trade between Nigeria and European Union (EU) member states stood at 19.9 billion Euros in 2016, Fillippo Amato, the Union’s Head of Trade and Economic Sector, said yesterday. According to him, the EU remains the top destination for oil and non-oil exports from Nigeria “Despite the significant effect of recession on Nigeria’s trade, […]
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Stanbic IBTC Holdings Plc has declared an financial statements for the year ended 31 December 2016. Result showed the group’s profit after tax rose by 51 per cent from ₦18.90 billion earned in 2015 to ₦28.52 billion in 2016. This showed that the bank has cleared a backlog of financial reports occasioned by restrictions imposed […]
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First Bank Nigeria Holdings Plc, parents of First Bank Nigeria has posted gross earnings of N581.8 billion in its audited results for the 2016 fiscal year, where its earnings were up by 15 per cent. The results showed the gross earnings leapt from N502.7 billion recorded in 2015. The Group reported operating expenses of N220.9 billion, […]
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The Nigerian Stock Exchange (NSE) on Monday said Conoil and 10 other quoted companies have failed to file their 2016 audited results within the stipulated time. The exchange said in a statement in Lagos that the defaulting companies included Capital Hotel, Niger Insurance, A G Leventis, African Alliance Insurance and Austin Laz Company. Others are […]
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The Nigeria Liquefied Natural Gas Limited, NLNG, paid $489.226 million, about N151.6 billion, in various forms of taxes to the Federal, States and Local Governments in 2016. NLNG stated this in its financial statement for the year ended, December 31, 2016, in a report section titled: ‘Facts and Figures on NLNG 2017.’ According to the […]
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Unilever Nigeria Plc. recently released its audited results for the year ended 31st December 2016 posting N69bn turnover. The Company recorded a significant leap in PAT from its 2015 position of N1.19bn to close the year with PAT of N3.07bn. The Company’s results for the year ended 31st December 2016 shows sustained growth and resilience […]
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Cadbury Nigeria Plc reported a loss before tax of N562.9m for the 2016 financial year, representing a 136 per cent drop compared to last year’s performance. This is against the profit of N1.58bn reported a year ago, according to documents filed with the Nigerian Stock Exchange on Tuesday. The company’s revenue for 2016 stood at […]
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The servicing of Nigeria’s domestic debt cost the nation N1.23tn in 2016, statistics from the Debt Management Office have revealed. The statistics showed that the highest interest payment of N839.79bn was made on funds borrowed using the instrument of FGN Bonds. Similarly, N335.58bn interest was paid on Nigeria Treasury Bill, while debts incurred via Treasury […]
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The International Air Transport Association (IATA) on Friday said that Sub-Saharan Africa had its best safety performance within the last decade in 2016. IATA said that airlines from the region had zero passenger fatalities and zero jet hull losses in its data released for the 2016 safety performance of the commercial airline industry. This is […]
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Guaranty Trust Bank Plc yesterday posted N165 billion profit before tax (PBT) in its audited financial results for the year ended December 31, 2016 to the Nigerian and London Stock Exchanges. A review of the results shows positive performance across all financial indices, reaffirming the bank’s position as one of the most profitable and well […]
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Brazil’s economy has fallen sharply for a second consecutive year, putting Latin America’s largest country in its deepest recession in modern history. The country’s statistics agency said on Tuesday that Brazil’s gross domestic product shrank 3.6 percent in 2016 following a dip of 3.8 percent in 2015. Brazil’s deepest recession had been registered in 1930-1931, […]
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The consolidated operational performance of Nigeria’s three refineries based on their capacity utilisation was below 15 per cent in 2016, the Nigerian National Petroleum Corporation said. Nigeria’s refineries are the Warri Refining and Petrochemical Company located in Delta State, Port Harcourt Refining Company in Rivers State, and the Kaduna Refining and Petrochemical Company in Kaduna […]
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