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Industry

Housing sector still in recession as prices of cement, others remain out of reach

Babatunde Fashola

The debate whether Nigeria has actually exited recession reverberated on Monday as checks by Business Hilights Economic Intelligence Team (BHEIT), showed that cement and other building materials including sand are becoming unreachable by developers and prospective home seekers. Investigations showed cement market within the out-going year, displayed much inconsistency in the prices as currently cement still hovers at an exorbitant ...

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Heineken begins $100m first brewery in Mozambique

Heineken logo

Heineken, leading high class beer brand manufacturer on Monday laid the foundation stone of its first brewery in Mozambique. The factory valued at about $100m had earlier been endorsed by the Mozambique Minister of Trade and Industry, Mr. Max Tonela. Located in the province of Maputo, between the Marracuene and Manhiça districts, the brewery will have a production capacity of ...

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Atiku relives first transport business, decries system training only job-seekers

Atiku Abubakar

Former Vice President of Nigeria and 2019 Presidential hopeful, Alhaji Atiku Abubakar has technically called for system change in the way and manner Nigerian graduates are only churned out to seek for paid jobs, rather than being either self employers or employers of labour. Speaking at InterContinental Hotel in Lagos after receiving the Honourary Achiever Award at the Africa’s Youth ...

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Lafarge Africa sees Rights Issue as step to capacity expansion, profitability

Lafarge facts

Leading indigenous construction solutions providers, Lafarge Africa Plc, has described its planned rights issue at the floor of the Nigerian Stock Exchange (NSE) as another opportunity to boost investments and drive to capacity expansion feats capable of delivering good returns to shareholders. Giving further details of the deal during the company’s fact behind right issue of N131.65bn at the floor ...

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Ministry misleading local, foreign investors’ on Ajaokuta Steel crisis—GSHL

Ajokuta steel complex

After its immediate rejection of federal government’s public notice through the Ministry of Sold Minerals, Global Steel Holdings Limited (GSHL) has again objected to current information posted on the ministry’s website suggesting that issues bordering on the erstwhile concession agreement had been resolved on the Ajaokuta Steel Company Limited. Otherwise, the embattled investor is calming that government is foot-dragging on ...

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FG inspects Gold mining sites, sets aside N5bn for artisan miners

Fayemi 33

For the first time in the history of the federal Ministry of Mines and Mineral Resources, a serving Minister, on Saturday inspected just one of the gold mining sites filled with artisan miners. The minister, Dr. Kayode Fayemi inspected the gold mining site at Garin Awal at Fakai Local Government Area in Kebbi State. While assessing the crude mining methodology ...

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Varsities in trouble again as key unions resume indefinite strike today

Adamu Adamu

For the inability of the Federal Government to clarify the criteria for the disbursement of the N23 billion it released to the Academic Staff Union of Universities (ASUU), while only pittance was allocated to the three non-teaching staff unions, the Senior Staff Association of Nigerian Universities (SSANU), Non-Academic Staff Union of Universities (NASU) and National Association of Academic Technologists (NAAT) ...

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Lafarge Africa at Stock Exchange to unveil facts behind its Offer

Lafarge facts

Lafarge Africa Plc., was at the Nigerian Stock Exchange (NSE) on Thursday to present facts behind its ongoing offer at the market. Business Hilights recalls that dealing Members had earlier in the month, notified that Lafarge Africa Plc has through its Stockbrokers; Pilot Securities Limited submitted an application to The Nigerian Stock Exchange for approval and listing of a Rights ...

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Malnutrition causes 33% of stunted growth forAfricans under age five, says GAIN

GAIN Briefing

The Executive Director of Global Alliance for Improved Nutrition (GAIN), Lawrence Haddad, has revealed that about 33 per cent of kids under the age of five in Africa has stunted growth due to malnutrition. GAIN is an international Non-Governmental Organization (NGO), working on how to deepen balanced dietary formulae in the continent and Nigeria in particular. The group however, said ...

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S’African AB INBEV to pump $250m to Nigeria’s beer industry next year

AB INBEV

Necessary documentations have been completed for the investment of over $250million in Nigeria’s fast moving beer industry next year by a South African group, AB INBEV. AB INBEV is a multinational company, operating in 25 different countries; with well-known brands are Budweiser, Bud Light, or Stella Artois. Coming with the foreign direct investment is a proposed merger of its three ...

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