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Business & Economy

Shareholders approve 15k per share as dividend for Transcorp Hotels plc

Lauds company’s  impressive performance AFRICA’s leading hospitality brand, Transcorp Hotels Plc recorded a 26% increase in turnover, with shareholders unanimously endorsing a final dividend of ₦1.14bn for the 2018 financial year translating to 15kobo per ordinary share, which is a 20% improvement over the 12kobo per ordinary share for 2017. …

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Travel agencies are going into extinction as bookings decline 3.5 million in 2018 , ART declares

"Since 2014, in the last  5-6 years, the full booking that has been coming in year on year has been declining 7%, 5% and it has declined 3.5million bookings by 2018. This decline simply means our downstream sector is already seeing extinction and it concerns aviation round table.

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OVH Energy acquires new bowsers for Jet A1 fueling

OVH Energy Marketing Ltd, has announced its acquisition of brand new aircraft fueling bowsers as part of its expansion plans to deepen its service offerings in providing fueling solutions to players in the aviation industry. Manufactured by Flightline UK, the bowsers are equipped with latest technological and safety standards certified …

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UBA Group spreads tentacles further, launches full banking operations in the UK

“The enhancement of our business in the United Kingdom is very timely and mutually beneficial for African and European corporates as well as respective governments. With the British and other European governments seeking new and improved measures to grow trade relations with Africa, we are enthusiastic on our positioning and capabilities in supporting corporates and government institutions to fulfil these lofty aspirations, which we believe are pertinent for the sustainable growth of both continents.”

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BoI disburses N15,000 Tradermoni to beneficiaries who defrayed N10,000 loans

NIGERIA’S Bank of Industry (BoI) has begun the disbursement of N15,000 TraderMoni loans to beneficiaries who have successfully paid back their first N10,000 loans. According to the bank, the disbursement was in response to the increasing beneficiary repayments recorded under the scheme. Through a flexible weekly loan repayment plan of …

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Electricity 2025: AfDB begins cooperative feasibility studies in Nigeria, Ethiopia

AS part of plans to achieve universal electricity access across Africa by 2025, African Development Bank (AfDB) has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia. The effort is part of the Bank’s goal having realised that power shortages diminishes …

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TCN increases Alaoji capacity to 750MVA with installation of 300MVA power transformer

In a statement by Mrs. Ndidi Mbah, the General Manager, Public Affairs, TCN, obtained by Nigerianflightdeck, the brand new 300MVA power transformer, energised earlier in the month at its Alaoji Transmission Substation had increased the station's installed capacity from 450MVA to 750MVA. With the increased power, Alaoji Transmission Substation became the biggest substation in the southern part of the country, adding that it had also made the station consistent with redundancy requirement of N-1.

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Tony Elumelu Foundation Entrepreneurship Programme application closes March 1

founded by Abiodun Adereni, Help Mum, a Nigerian based enterprise that provides low-cost birth kits to prevent child and maternal mortality recently won the first ever Google Nigeria Impact Challenge and has attracted additional capital investments; iMed Tech, founded by Nneile Nkholise, innovates in the medtech space in South Africa by using technology to create breast prostheses for women with breast cancer;

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ACCI President canvasses urgent tax reforms to protect SMEs In Nigeria

Their growth will in turn create jobs and collective wealth for the nation. All that is necessary must be done to nurture such new businesses. New companies should not be mandated to produce tax clearance until after a year or so of operations

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2019 Budget: NECA decries late passage, flays government

While speaking on some of the adverse effects of late passing of the budget, Olawale noted that the process leading to the approval and passing of budget in Nigeria had always been a victim of the proverbial fighting of two elephants.

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