PwC finds $900bn dead capital trapped in Nigerian real estate 

Post AMUGEFebruary 6, 2024

Beyond COVID-19: PwC points to strategic priorities insurers should adopt for a post crises world

Onome Amuge PricewaterhouseCoopers Nigeria (PwC), recently estimated that a staggering $900 billion worth of dead capital is tied up in residential real estate and agricultural land in Nigeria. This includes the federal government’s abandoned property, estimated at N230 billion. The professional services network, in a new report titled “Nigeria Economic Outlook: Seven Trends That Will […]

Payments, lending major drivers of Nigeria’s fintech market — McKinsey

October 6, 2020

Saviour Adugba Quickteller, Paga, Opay, others competing well with banks’ apps, USSD A new Mckinsey report focusing on Nigeria’s fintech ecosystem has identified payment activities and lending as major drivers of Nigeria’s fintech advancement The study noted that growths have been experienced in the payments segment due in part to the Central Bank of Nigeria’s […]

Okomu oil declares N3 dividend per share

Businessam StaffJune 13, 2018

Okomu Oil Palm Company Plc, a local palm oil producer in Udo in Ovia South West local government area of Edo state, Nigeria has declared a dividend payment of N3.00k per ordinary share. The company, according to the 2017 annual report and account, made N2.8 billion profit after tax and the money had been declared […]

Thomas Wyatt Nigeria Plc announces late filing of FY 2018 results

Businessam StaffJune 7, 2018

Thomas Wyatt Nigeria Plc has announced to notify the Nigerian Stock Exchange (NSE), Shareholders and other stakeholders that the Audited financial statement(AFS) of the Company year ended 31 March 2018 will be filed out of the regulatory due date of 30 June 2018 occasioned by unexpected delay in the audit exercise of the financials. This […]

Union Bank’s Q1 gross earnings rise 15% to N39.5bn

Businessam StaffMay 10, 2018

Union Bank Nigeria Plc Thursday announced a 15 percent rise in gross earnings to N39.5 billion for the first quarter ending March 31, 2018. It was up from N34.3 billion in the comparable period of 2017. The rise in gross earnings for Q1 was down to the improvement in net interest margins from 7.1 percent […]

Nestle grows first quarter revenue by 10%

Businessam StaffMay 1, 2018

Nestle factory production line

By Afolabi Adesola Nestle Nigeria Plc’s unaudited financial results for the first quarter ended March 31, 2018, shows an increase of 10.3 percent in revenue to N67.5 billion from N61.2 billion in the corresponding period of March 2017. The results released via the Nigerian Stock Exchange (NSE), shows finance income dropped by 89.2 percent to […]

Sterling Bank records 65.2% profit growth in Q1 2018

Businessam StaffMay 1, 2018

By Afolabi Adesola Sterling Bank Plc has reported a profit after tax of N3.1 billion on gross earnings of N39.8 billion for the first quarter ended 31st March 2018. The impressive first quarter net income is an improvement on net income of N1.9 billion for the corresponding period of 2017, representing an increase of 65.2 […]

Dangote Cement records 16.3% net profit growth in 2018 first quarter

Businessam StaffApril 25, 2018

By Afolabi Adesol Dangote Cement has published its Q1-18 result, showing revenue and net profit grew by 16.3 percent and 29.1 percent respectively when compared with figures of Q1 2017. Net finance income stood at N4.6 billion, as against N5.9 billion in Q1-17 and N3.8 billion in Q4-17. The net finance income is the group’s […]