Tag Archives: Nigeria

Shell Nigeria announces expansion of a new business line

Global energy giant, Shell, has announced the expansion to a new business line in Nigeria with the expansion of natural gas sales and distribution to meet the growing energy needs of wholesale consumers and provide more and cleaner energy across the country. The new business line, which is Shell Energy Nigeria will seek to deliver gas-based energy solutions to businesses ...

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Chinese banks to soon start operations in Nigeria- Envoy

Plans are in the offing for Chinese banks to start operations in Nigeria, Ambassador Cui Jianchun said on Tuesday. He noted that Nigerian financial institutions are welcome in his country if they decide to come on board. According to him, he is working to ensure the banks open in China and has been taking required steps. Jianchun told reporters in ...

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Food Affordability: Report ranks Nigeria second poorest in the world

A report by the Institute of Development Studies, a UK-based think tank, has placed Nigeria as the second poorest country in the world in terms of food affordability. The report, which was compiled through a publicly available global cost-of-living database, Numbeo, was used in creating a ‘cost of food basics’ analysis that compares the monthly minimum recommended spending on food ...

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IMF releases reports on economic growth for Nigeria, world

The International Monetary Fund has released its growth outlook for both Nigeria and the global economy for the year 2021. It stated  that the global economy is projected to grow 6.0 percent in 2021 and 4.9 percent in 2022, while Nigeria’s growth outlook has been maintained at 2.5% The financial institution made this remark on Tuesday in its World Economic ...

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MTN Nigeria plc approves N9.40 dividend per share to shareholders

MTN Nigeria Communications Plc, has approved the payment of N9.40 final dividend per share to shareholders for the year ended December 31, 2020. The dividend represents 18.7 per cent increase from 2019. MTN Nigeria’s Chairman, Ernest Ndukwe noted that “Despite the challenging operating conditions during the year, I am happy to report that our company recorded improved performance across all ...

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Open Grazing: Okorocha says Nigeria losing billion of dollars

Ex-Imo State Governo Rochas Okorocha,says  Nigeria is losing billions of dollars in the cattle farming dairy chain. The federal lawmaker notes that cattle farming in Nigeria is largely done through grazing, addiing that not through a chain that values export of beef, milk and leather. He made this remark in an interview with Channels TV on Sunday evening. “Herding is ...

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Idleness of refineries makes Nigeria record a total loss of N177.21bn- NNPC

In 19 straight months of not processing any barrel of crude oil, the government-owned refineries in Nigeria recorded a total loss of N177.21bn, the latest data from the Nigerian National Petroleum Corporation have shown. An analysis of data collated from NNPC’s monthly reports revealed that all the refineries did not refine crude oil from July 2019 to January 2021. The ...

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Behold! Highest paid CEOs in Nigeria

The Managing Director/ Chief Executive is the most senior executive position in the company, charged with the responsibility of piloting the firm’s affairs and ensuring profitability and growth. CEOs are the ones at the helms of affairs and therefore, receive criticisms for poor performances as well as credit for stellar company performances. The CEOs of the major companies are remunerated ...

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The best investments you can opt for at this period of Nigeria’s hyperinflation- Experts

investment

Let’s face it, Nigeria’s rising inflation plus lower options for high yielding investments are already driving a significant number of investors away from Africa’s leading frontier market. This is coming at a time when Nigeria’s top performing investment asset class for 2020 is currently having a year-to-date return of around -3.30%. Recent data published by the National Bureau of Statistics ...

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Takeover: Staff of Shoprite shut down more than 25 outlets in Nigeria

shoprite

Shoprite members of staff  have embarked on a nationwide industrial strike action demanding proper information on staff benefits from interested investors who are about to acquire the Nigerian subsidiary of the South African retail outlet. Acccording to the Foundation for Investigative Journalism (FIJ), all 25 outlets of Shoprite in Nigeria have been shut down by workers. The report revealed further ...

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