NBS gets new board as Senate confirms nominees
Businessam Staff
April 11, 2019
The National Bureau of Statistics (NBS) will have a new board as the Senate confirmed President Muhammadu Buhari’s nominees for the job. Those confirmed for the NBS board are Dr Kabiru Nakaura from the Northwest as chairman, while Mr Akinola Bashir (Southwest), Prof Moses Momoh (South South), Wallijoh Danladi Ahijoh (Northcentral), Adam Modu (Northeast), and […]
Nigeria’s first solar-powered brewery to reduce carbon emissions by 10,000 tonnes
Businessam StaffMarch 21, 2019
Nigerian Breweries Plc (NB) has announced plans to significantly reduce its carbon footprints in the country by pioneering Nigeria’s first solar powered brewery. The company in a notice filed with the Nigerian Stock Exchange on Thursday indicated that a solar power purchase agreement with CrossBoundary Energy Limited has been signed for the installation and operation […]
CAC registers 39,074 new business names in two months under N5,000 fees strategy
Nse Anthony-UkoJanuary 16, 2019
Nigeria’s Corporate Affairs Commission (CAC) says it has been able to register 39,074 business names between October and November 2018 following the implementation of its Business Incentive Strategy (BIS). The commission had under its BIS reduced the cost of business name registration from N10,000 to N5,000 for a period of three months covering October 1 […]
StarTimes lowers subscription fee for increased market share
Afolabi OluwaseunSeptember 10, 2018
StarTimes in a bid to improve market share by enlisting as much subscribers as possible has lowered its subscription fees as well as adding four new premium channels for viewers’ delight. According to Kunmi Balogun, StarTime’s public relations manager, subscribers of StarTimes have started enjoying a reduced subscription rate on its’ classic bouquet, which took […]
Guinness Nigeria delivers triple digit bottom line growth in 2018
Adesola AfolabiAugust 30, 2018
Guinness Nigeria Plc has released its results for its full fiscal year ended June 2018, delivering growth across the top and bottom line of its financials. Specifically, the brewery company reported a 250 percent growth in its profit after tax of N6.72 billion as against N1.92 billion reported for the 2017 full year while revenue […]
High oil prices, stable operating environment buoys Forte Oil’s 93% profit growth in H1 2018
Adesola AfolabiAugust 13, 2018
Forte Oil Plc. has benefiting strongly from a more stable operating environment with higher oil prices, foreign exchange availability and improved petroleum product supply in the first half of 2018 as it announced a profit after tax of N7.9 billion for the period ended June 30, 2018. The profit, which is an aggregate from continuing […]
Nigeria’s Conoil HY18 profit jumps 29 percent
Adesola AfolabiAugust 8, 2018
Conoil Plc. has recorded a profit before tax growth of 29 percent to N809.78 million for the period ended 30th June 2018, according to its recently released unaudited half-year report. The results released Tuesday to the Nigerian Stock Exchange (NSE) showed that despite the tough economic environment, Conoil turnover rose to N54.48 billion in the […]
Forte Oil sees N61.8bn revenue in H1 2018
Temitayo AyetotoAugust 7, 2018
Forte Oil has announced a N61.8 billion revenue for the first half year ended June 30. Akin Akinfemiwa, the company’s chief executive, according to agency news reports, said the revenue represented a growth of 32 percent when compared with N46.7 billion achieved in the corresponding period of 2017. Profit after tax of the company increased […]
C&I Leasing reports 18% growth in half-year profit after tax
Adesola AfolabiJuly 31, 2018
C&I Leasing announced on Tuesday that it grew half year profit after tax in 2018 by 18 percent to N682.2 million. It was up from N580 million recorded for the same period in 2017. The company grew gross earnings by 10.7 percent to N12.8 billion with total assets for improving by 13.9 percent to N51.2 […]
Nigerian Breweries sees half year revenues drop 5%, signposting what’s ahead on likely impact of new excise duty regime
Adesola AfolabiJuly 30, 2018
Local brewing giant, Nigerian Breweries, has given the first hint yet of the possible impact on the performance of companies falling under new excise duty regime and higher rate for alcoholic beverages in the second half of the year as the company’s half year unaudited results just released showed a five percent drop in revenues. […]