Business

Conoil records N139.8bn turnover

Conoil Plc has reported a turnover growth of 14.4 per cent to N139.8 billion for the financial year ended December 31, 2019. According to a statement from the company, Conoil’s 2019 full year results showed that the company maintained its leadership position in the industry, reaping bountifully from the huge investments in its business portfolios. […]

Business

NSE opens July positive with N61bn gain

The equities market closed yesterday on a positive note to commence the month of July on the upswing. The market performance indices, NSE ASI, and market capitalisation appreciated by 0.47 per cent as some blue chip stocks recorded price appreciations. Market breadth closed negative as BUA Cement Nigeria Plc led 12 gainers as against 22 […]

Business

Taking right steps towads telecoms infrastructure protection

The recent presidential directive to security agencies to protect telecommunications infrastructure may have come as a positive development for the sector. However, stakeholders are worried that government has not done the right thing to protect the critical facilities. SAMSON AKINTARO reports When the Minister of Communications and Digital Economy, Dr. Isa Pantami, recently announced the […]

Business

Broadband: ATCON pledges commitment to 2020-2025 plan

…hails NCC’s new management strategy The Association of Telecommunications Companies of Nigeria (ATCON) has pledged the commitment of its members to the country’s broadband agenda. President of the association, Mr. Olusola Teniola, who made the promise on behalf of its members, said ATCON would support the Broadband Plan 2020-2025 through more investments in infrastructure and […]

Business

Experts: IMF/World Bank forecast not sacrosanct

Bretton Woods Institutions, the IMF and World Bank, in their reports released recently gave informed opinions on each economy in the face of ravaging Covid-19 just as some Nigerian experts examine some underlining issues, Abdulwahab Isa reports By their admissions last week, world respected financial bodies, International Monetary Fund (IMF) and the World Bank, projected […]

Business

Banks clear N1.3trn cheques in 5 months

•Paper transactions dip further Deposit money banks in the country cleared cheques valued at N1.3 trillion between January and May, this year. While this showed a 31.5 per cent decline when compared with N1.9 trillion recorded in the same period of 2019, the 2020 record was achieved amidst a 30-day suspension of cheques clearing due […]

Business

IMF: Only 60% of Nigerians have access to Internet

…says low access driving inequality globally Despite its record of 138.7 million active internet subscriptions as of April 2020, the International Monetary Fund (IMF) has said that Nigeria falls among the category of countries where only 40-60 people have access to the internet out of 100 inhabitants. The body in the latest report on global […]

Business

Interswitch donates equipment, kits to LASG

In furtherance of its efforts to assist the government in ramping up the testing capacity for the coronavirus (COVID-19) across the country, integrated digital payment and e-commerce company, Interswitch Group, has donated personal protective equipment (PPE) and rapid diagnostic test kits (RDTs) to the Lagos State Government. The donation, which was presented to the state […]

Business

MainOne: We invested $400m in infrastructure in 10 years

MainOne, West Africa’s leading provider of wholesale and enterprise connectivity and data centre, said it had invested a total of $400 million in infrastructure in West Africa as part of its efforts to bridge the digital divide and enable digital economy. The company disclosed this as it celebrates 10 years of operation in the sub-region. […]