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Business & Economy

CCNN tops gainers, Newrest ASL led losers as Equities Market rises 0.58%

CEMENT Company of Northern Nigeria (CCNN) led the gainers chart as Newrest ASL Nigeria led the losers’ chart as the Nigerian equities market rose by 0.58 per cent amid bargain hunting activity. The All Share Index (ASI) was up by 172.74 basis points, representing an increase of 0.58 per cent …

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Delta Air Lines announces December Quarter and full year 2018 profit

DELTA AIR LINES has reported financial results for the December quarter and full year 2018. Adjusted pre-tax income for the December quarter 2018 was $1.2 billion driven by over $700 million of revenue growth, allowing the company to fully recapture the $508 million increase in adjusted fuel expense and produce …

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NECA raises concern as Nigeria’s debt profile hits N15.814trillion in third quarter

FOLLOWING the third quarter report of the Debt Management Office (DMO) and the 2019 budget assumptions, the Nigeria Employers’ Consultative Association (NECA) has expressed fears at the country’s mounting debt burdens moving up to N15.814trillion in September, 2018 from N15.629trillion in June, 2018. Speaking in Lagos, the Director-General of NECA, …

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Government stalls as 11 companies indicate interest to run Ajaokuta Steel company

NO fewer than 11 companies have indicated interest to operate the Ajaokuta Steel Company but government says the will only be handed over companies when infrastructure needed for runing the company is put on ground. This is just as the Mines and Steel Development Ministry said that the sector had …

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NNPC to crash price of cooking gas, stop export of propane, butane

PLANS are underway for the Nigerian National Petroleum Corporation (NNPC) to crash the price of of Liquefied Petroleum Gas (LPG), also known as cooking gas through effective implementation of commercial framework that would halt the export of propane and butane which are major components in the production of the product …

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FG extends Business Name Registration till March

AFTER the initial reduction for registration of Business Names by 50 % to the tune of N5,000.00 till December 31, Federal Government has extended the window for registration by 90 days, to end by March. Deputy Director, Public Affairs, Corporate Affairs Commission, Moses Adaguusu made this known in a statement, …

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FG inaugurates committee on minimum wage implementation, reappraisal

FEDERAL Government has appointed financial analyst, Bismark Rewane, Chairman of the newly inaugurated Presidential Advisory Committee on New National Minimum Wage to guide it on how best to go about the implementation of the minimum wage demanded by organised labour This is just as President Muhammadu Buhari has charged the …

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India goes ahead of Spain, others as Nigeria’s biggest trading partner In Q3 2018 – NBS

DATA released by the National Bureau of Statistics (NBS), covering July, August and September, showed that India was Nigeria’s biggest trading partner in the third quarter of 2018 ahead of Spain, France, Netherlands and China, gulping N719.2bn of crude and N37.7bn of natural gas exports from the country. India also …

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FIRS targets N 8.3trn in 2019, N3trn revenue increase from 2018

FEDERAL Inland Revenue Service (FIRS) has disclosed that it is targeting N8.3trn from the collection of various taxes in 2019, an additional N3trn from the N5.32trn realized in 2018. FIRS Executive Chairman, Dr. Babatunde Fowler, stated this at the ongoing 2019 stakeholders’ retreat in Lagos with theme: ‘Parliamentary Support for …

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Delta State Government explains reason for ‘Smart Money’ Initiative

DELTA STATE Government has made clarification on its Smart Money initiative saying that the state is currently targeting petty traders and market women predominantly those who cannot borrow from financial institutions due to the stringent borrowing criteria and exorbitant interest rates so as to help them grow their businesses. According …

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