Nestlé Nigeria PLC has declared a N547.1 billion sales increase for the 2023 financial year, translating to a 22.4 per cent increase of N100 billion compared to the corresponding period of 2022. Its operating profit also jumped by 41.2 per cent, reaching 122.7 billion; while Profit After Tax was negativelyContinue Reading
By Chimezie Anaso The National Agency for Food Drugs Administration and Control (NAFDAC) has shut down some unregistered satchet water production factories in Anambra. The companies were said to be producing water in unhealthy environment and operating without subjecting their processes to regulatory standards. Louis Mmadubuatta, Coordinator of NAFDACContinue Reading
By Emmanuella Anokam The African Export-Import Bank (Afreximbank), says Nigeria is among the largest beneficiaries accounting for about 60 per cent of its US$30 billion funding of the energy sector in Africa. The Afreximbank said it has been able to make modest contributions in the oil and gas sectorContinue Reading
By Kadiri Abdulrahman A Financial Expert, Prof. Uche Uwaleke, says it is an “overkill’’ to increase the country’s Monetary Policy Rate (MPR) to 22.75 per cent from 18.75 per cent. Uwaleke, a professor of Capital Market at the Nasarawa State University, Keffi, said this in an interview with the NewsContinue Reading
By Kadiri Abdulrahman A renowned Economist, Prof. Ken Ife, says the Import dependence nature of the Nigerian economy is a major challenge fueling inflation and weak currency. Ife, a member of the Governing Council, Ministry of Finance Incorporated (MOFI), said this in an interview with the News Agency of NigeriaContinue Reading
By Rukayat Moisemhe The Nigerian Institute of Management Chartered (NIM) has sought the partnership of the Nigerian Civil Aviation Authority (NCAA) on managerial excellence to enhance the aviation industry and the economy in general. President, NIM, Dr Christiana Atako, said this during a courtesy visit to the NCAA. Atako saidContinue Reading
By Rukayat Adeyemi The Nigerian Exchange Ltd. (NGX) and the Capital Market community on Tuesday paid tribute to the late former Chairman of the NGX Group, Mr Abimbola Ogunbanjo, and pledged to sustain his legacies. They made the pledge while expressing their grief on the passing of late OgunbanjoContinue Reading
CBN raises interest rate by 400 basis points to 22.75 %Continue Reading
By Salisu Sani-Idris Arewa Traders Association of Nigeria (ATAN) has pledged to work with all its members in the Federal Capital Territory (FCT) to stabilize price of food items in the holy month of Ramadan. The newly appointed FCT Chairman of the association, Alhaji Habib Muhammad-Gajo, made the pledge inContinue Reading
