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Industry

Lafarge deepens host communities relations, seals new deal in C/River

Leading indigenous building solutions manufacturer, Lafarge Africa Plc has stepped up host community relations in the South-South state of Cross River by sealing a Memorandum of Understanding (MOU) with newly constituted Community Relations Committee (CRC) to boost relations. Driven by the state government, membership of the CRC is drawn across six partnering communities hosting the company’s Mfamosing plant within Akamkpa, ...

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Lekki Gardens boss, Ntong opens up on challenges of housing supply

The Managing Director of Lekki Gardens, Mr. Richard Nyong has listed some of the key problems facing major developers in housing industry in Nigeria and Lagos in particular. Top in the list according to him include access to approval, vague government policies, flooding of substandard materials, review of 1978 Land use Act and deep pocket funding access at affordable interest ...

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Guinness Nigeria target fresh N40bn, plans EGM to get approval on Rights Issue

Guinness Nigeria Plc has announced its intention to hold an Extraordinary General Meeting (EGM) of its shareholders to approve resolutions for a rights issue. The rights issue is subject to the approval of the relevant regulatory authorities. Scheduled tentatively to hold on January 24, 2017 in Lagos, the EGM will provide opportunity for the management to explain the reasons behind ...

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Peterside approves promotion of 76 management staff, others at NIMASA

NIMASA logo

The wind of excitement has blown at the Nigerian Maritime Administration and Safety Agency (NIMASA) as the Governing Board of has approved the promotion of 76 Management Staff of the Agency to their next grade levels. In a statement issued by the head of media, Hajia Lami Tumaka, the promotions were approved at the 34th meeting of the Board which ...

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Prevailing ban on land borders’ll lead to full port utilization, growth – NPA boss

Hadiza Usman, NPA

The leadership of the Nigerian Ports Authority (NPA) has brushed aside speculations that the recent ban on importation of cars and rice via the land borders will not change anything at the ports, saying the ban will spur massive imports of goods including cars and rice and in the process grows facility utilization. Addressing media men recently in Lagos, the ...

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Timing of S/East economic summit did not favour presidency, S/East Govs.—Finance expert

Buhari M

Contrary to speculations that President Muhammadu Buhari avoided the maiden South-East Economic and Security Summit in Enugu on grounds of fears for some pro-Biafra agitators, leading finance analyst, Dr. Clarus Maduka has voided the claims, saying the timing of the summit was faulty ab-inito. Business Hilights recalls that a pro-Biafra group, the Indigenous People of Biafra, had in the build ...

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Usman charges NPA staff to raise service efficiency for better results

NPA awards

The reformist Managing Director of Nigerian Port Authority (NPA), Ms Hadiza Bala Usman has urged the staff of the agency to reposition their mindset towards efficient service delivery to the nation by way of promoting productivity and accountability in the agency’s operations. Speaking during the Long Service Awards ceremony organised by the authority in Lagos, Ms Usman informed them that ...

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MAN supports government’s move to review ECOWAS treaty

Ecowas House, Abuja

Considering growing abuse of trade rules, Manufacturers Association of Nigeria (MAN) are now rallying support for government’s call to review the Economic Community of West African States’ (ECOWAS) Treaty. Before now, Senate Committee chairman on International Trade, Senator Hope Uzodinma had called for total pullout of Nigeria from the treaty based on observed loses Nigerian businesses had recorded in recent ...

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Why Dangote Cement remains the most capitalized at NSE

Cruising on a market capitalization of N2.9 trillion, representing 31.56 per cent of the whole stock market capitalization as at last week, Dangote Cement remained the stock to beat as Nigerian Breweries and Nestle Nigeria on capitalization of N1.13 trillion and N642.05 billion respectively followed distantly. The trust leading to this status is not far from the Africa-wide recurrent expansion ...

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Nigeria still import dependent economy— NBS report

okechukwu-enelamah

Newly released report on foreign trade by the National Bureau of Statistics (NBS) has revealed that Nigeria’s external trade balance went negative by N104bn in Q3 The imbalance is indicated when the total value of Nigeria’s external trade in the third quarter of 2016 was N 4,721.9 billion with  exports worth N2,309 billion and imports worth N2,413 billion. However, the ...

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