Business

Report: Nigeria, others may increase gas monetisation next year

UTILITY Only stronger monetisation of gas at home could justify using Africa’s gas reserves   In its latest Africa Energy Outlook 2021, the African Energy Chamber forecasts increased gas monetisation across the continent on the back of decarbonisation and industrialisation drive.   The African Energy Chamber has notably found that while not insulated to COVID-19, […]

Business

Pension fund managers record N83.94bn profit

Data obtained from the National Pension Commission (PenCom) has revealed that Pension Fund Administrators (PFAs) and their counterparts Pension Fund Custodians (PFCs) recorded a net profit of about N83.94 billion in 2019. A breakdown showed that Stanbic IBTC Pension Managers Limited recorded N49.42 billion followed by Zenith Pension Custodian Limited had N6.03 billion.   Further […]

Business

NAICOM: MAMEs essential to economic growth

The Commissioner for Insurance and Chief Executive, National Insurance Commission (NAICOM), Mr. Sunday Thomas, has said that Micro, Small and Medium Enterprises (MSMEs) were essential for economic growth and employment.   He made the declaration in Kano during the sensitization programme by the commission and Star Saphire for start-ups on a proposed micro insurance and […]

Business

Recapitalisation: Linkage Assurance meets NAICOM’s 50% threshold

Linkage Assurance Plc said it had met the N5 billion minimum capital requirements as mandated in the segmented recapitalisation exercise of the National Insurance Commission (NAICOM). Addressing the insurance journalists during a training programme in Lagos, the Managing Director of the Company, Mr. Daniel Braie, who was represented by the firm’s Chief Financial Officer (CFO), […]

Business

Importers lament loss of N2trn goods at land borders

After losing N2 trillion goods at the closed land borders, the Office of the National Security Adviser (ONSA), which is coordinating the border closure exercise, has approved the release of goods stuck at Seme Border.   It was learnt that some of the goods, which are perishable, had decayed, having stayed for a long time […]

Business

AfDB seeks faster industrialisation of continent

As part of its activities to mark Africa Industrialization Day 2020, the African Development Bank (AfDB) has urged the continent to accelerate industrialization for the transformation of African economies. “Industrialization, where we add value to what we competitively produce and then export, and also trade among ourselves on the back of the African Continental Free […]

Business

International Breweries: Operational challenges hit earnings

The shift in consumer patterns in the light of the economic situation in the country and corresponding squeeze on disposal income is taking a toll on the earnings of International Breweries Plc. CHRIS UGWU writes     As Nigeria suffers from volatility in crude prices and COVID-19 crisis, with government revenue declining and public sector […]

Business

N1.3bn benefits: Ex-NAHCo workers give BPE two-week ultimatum

The battle to resolve the lingering N1.3 billion severance benefits of ex-workers of Nigerian Aviation Handling Company Plc (NAHCo) may shift to the law court as lawyer to the embattled workers has given the Bureau of Public Enterprises (BPE) and NAHCo two weeks to come clean on the whereabouts of the money or be dragged […]