The Central Bank of Nigeria (CBN) yesterday released its Treasury Bills Issuance Programme for the first quarter of 2019. In all, the central bank will sell treasury bills worth ₦907.880 billion this quarter. A breakdown of the debt instrument showed that while a total of 91-day bills valued at ₦50.977 billion would be auctioned; ₦178.843 […]
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The total number of electricity consumers with prepaid meters increased by 6.23 per cent to 1,589,805 in the first three months of this year from 1,496,586 in the fourth quarter of 2017. Almost five years after the privatisation of the power sector, many consumers continue to groan over estimated billing as demand for prepaid meters […]
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The exportation of Nigeria’s solid minerals in the minerals sector hit ₦26. 9 billion in first quarter of 2018, as reported by the National Bureau of Statistics, NBS, on total foreign trade. According to NBS, the amount represents 0.55 per cent of total trade in the sector, which stood at ₦39.6 billion, while imported solid […]
Read More Between January and March this year, commodities worth ₦4.18 trillion were exported through the Apapa Port in Lagos, figures obtained from the National Bureau of Statistics revealed. An analysis of the foreign trade statistics by our correspondent showed that the ₦4.18 trillion worth of exported commodities through the Apapa Port was 89.1 per cent of […]
Read More The country recorded an increase of ₦1.18 trillion in merchandise trade in the first quarter of this year to ₦7.21 trillion from ₦6.02 trillion in the fourth quarter of last year. The figures were contained in the Foreign Trade in Goods Report, which was released on Wednesday by the National Bureau of Statistics. The bureau […]
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Keystone Bank Limited said it recorded a profit before tax of ₦3.72bn for the first quarter ended March 2018, compared with a loss of ₦2.79bn over the same period in 2017. The lender said it delivered a strong financial result for the first quarter, after the moves by the new management team began yielding positive […]
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MTN Nigeria Communications Limited has announced a year-on-year increase of 73.2 per cent in revenue from data services for the first quarter of this year. A statement issued by Public Relations and Protocol Manager, Mr. Funso Aina, on Thursday said the digital mobile operators grew its total revenue for the quarter by 14.4 per cent. […]
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Oando Plc has announced ₦4.2 billion profit-after-tax (PAT) in its first quarter 2018 results.The performance came despite the ongoing Securities and Exchange Commission (SEC) led forensic audit into the affairs of the company. Oando has cashed into the favourable micro and macro business environment characterised by an increase in national oil production, exchange rate stability, […]
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Nigeria’s major financial services giant, Zenith Bank Plc on Thursday released its first quarter ended March 31, 2018, financial results, which showed a significant growth of 25.55 percent in profits. The bank joined Guaranty Trust Bank Plc among the tier one banks who have released their results for the period. Accordingly, investors hailed the results, […]
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Finnish oil refiner and biofuel producer Neste expects the reinstatement of the renewable fuel tax credit in the United States to increase its first quarter profit, the company said on Friday. The retroactive approval of the 2017 biodiesel credit was part of the budget deal approved by the U.S. Senate and House of Representatives, averting […]
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Shell, the biggest international oil company (IOC) in Nigeria in terms of output and assets, envisages 270,000 barrels of oil equivalent per day (boepd) output decrease and low earnings in the country in the first quarter of 2018. The oil major, which, announced its 2018 outlook as a part of its fourth quarter 2017 results, […]
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As part of the initiative to reposition the maritime sector for greater efficiency in line with International best practices, the Nigerian Maritime Administration and Safety Agency (NIMASA) will release the empirical forecast that will determine the outlook of the industry in Nigeria by the first quarter of 2018. The Director General of NIMASA, Dr. Dakuku […]
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