Business

Tariff: Ikeja Electric reclassifies customers

I keja Electric has reclassified its customers into Maximum Demand (MD) and non-Maximum demand (non-MD) as it hinges new tariff on supply availability and reliability bases.       The company stated this in a statement at the weekend in which it gave details of how electricity customers on its network would be billed in […]

Business

Shell completes 20km gas pipeline to Aba industrial zones

S hell Nigeria Gas (SNG) said at the weekend that it had completed the final phase of its 20km domestic gas pipeline expansion project in Abia State, connecting Agbor Hill, Osisioma and Araria industrial zones.     The project, the company said in a statement, had also enabled the supply of pipeline gas to Ariaria […]

Business

AKK: $2.8bn pipelines funnel to gas prosperity

Nigeria, a country that sits on 203 trillion cubic feet of GAS, has, over the years, blamed gas supply deficit as partly responsible for challenges in power generation, local gas consumption and industrialisation. Amid this, President Muhammadu Buhari is billed to flag off the $2.8 billion Abuja-Kaduna-Kano (AKK) pipeline – Nigeria’s biggest gas pipeline project […]

Business

Lagos boosts affordable housing scheme for residents

BENEFICIARIES No fewer than 492 families have benefited from the housing scheme of the state government.     A s part of efforts to boost affordable housing in the state, Lagos State Government  has opened an arrangement where residents who can part with 33 per cent of their monthly earnings can become home owners under […]

Business

FAAN to restrict multiple departures from single terminal

ORDERLINESS Ninety per cent of the agency’s workforce have been trained by World Health Organisation   T he Federal Airports Authority of Nigeria (FAAN) says it has concluded plans to  restrict multiple departures of airlines from the same terminals at the same time when flights resume.       The Managing Director, FAAN, Capt. Rabiu […]

Business

NSE opens week positive with N15bn gain

POSITIVE SENTIMENT   NSE ASI appreciated by 0.12 per cent with market breathe closing negative with 18 gainers as against 29 losers   The equities market closed yesterday positive to commence the weekly trading activities on the upswing after the market closed last Friday also in the green.   The market performance indices, NSE ASI, […]

Business

N500m debt: AMCON takes over Polema Industries’ assets

Tony Chukwunyem Citing the order of Justice F.O.G. Ogunbanjo of the Federal High Court, Abuja, the Asset Management Corporation of Nigeria (AMCON) has taken over a factory and other assets belonging to Polema Industries Limited and its chief Promoter, Chief Emmanuel C. Obi, over an indebtedness of over half a billion naira.   In a […]

Business

FMDQ admits N200bn MTNN CP, Dangote Cement bonds

FMDQ Securities Exchange Limited (FMDQ ) has admitted for listing, Dangote Cement Plc N100.00 billion Series 1 Bond under its N300.00 billion Bond Programme, and for quotation, the MTN Nigeria Communications Plc N100.00 billion Series 1 & 2 Commercial Paper (CP) notes under its N100.00 billion CP Issuance Programme, both on the Exchange’s platform.   […]

Business

Transcorp Hotels gets shareholders’ nod to raise N10bn

Shareholders of Transcorp Hotels Plc, owners of Transcorp Hilton Abuja and Transcorp Hotels Calabar, have unanimously authorised the board of directors to raise N10 billion in its proposed rights issue to fortify its balance sheet.   The approval given at the Extraordinary General Meeting of the company, which took place yesterday, in Lagos is to […]

Business

Suleiman: Our banking regulation is held to high standards

In this interview, Mr. Abubakar Suleiman, Managing Director and Chief Executive Officer of Sterling Bank Plc, speaks on banking regulations, COVID-19 crisis, health of Nigeria’s banking sector and OneBank, his organization’s new digital bank.     What is your assessment of banking regulations in Nigeria and the health of the banking sector?     We […]