Industrial development aspiration of Nigeria may be facing a serious threat. While churches in the United States (US) and United Kingdom (UK) are giving way for factories and industries thereby boosting job creation and national economic development, churches in Nigeria are filling the vacuum created by failed factories in the country by turning the premises […]
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Tractor • Nation’s seven tractors per 10,000ha fall below 200/10,000ha global average • Food prices remain high despite claim of rice, grain sufficiency Shortage of tractors and critical implements for farm mechanisation has hit the country as land preparation for the 2022 dry and wet season cultivation begins across agro-ecological zones. Secretary, Agricultural Equipment Hiring […]
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Dangote Peugeot Automobiles Nigeria Limited (DPAN) has begun car assembly in Nigeria, starting with the land trek, 3008, 5008 and the new 508. Naija. With this development, Peugeot vehicles will now be assembled in Nigeria nearly four years after joint owners Dangote Group secured authorization from the Nigerian regulator following prior expressions of interest in […]
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Double-digit growth in 2022 Investors who subscribed to the recently-concluded public offer by MTN Nigeria Communications (MTN Nigeria) will receive about N5.67 billion as cash dividends in their first return on investment. Regulatory filing and reports analysed yesterday indicated a dividend yield of 5.07 per cent as return on investment for the emerging shareholders, a […]
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At least 126,720 retail investors submitted valid applications and received full allotment as MTN Nigeria Communications Plc announced that its first public offer for sale of 575 million shares recorded an oversubscription of 139.47 per cent. This is contained in a statement signed by the MTNN Company Secretary, Uto Ukpanah, posted on the Nigerian Exchange […]
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Toyota retained its crown as the world’s top-selling automaker on Friday, having overcome a chip shortage and supply chain woes to beat Volkswagen for a second straight year. The Japanese auto giant said it sold nearly 10.5 million vehicles in 2021, a jump of about 10 percent from 2020, including units made by its Daihatsu […]
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Cocoa farmers. (Photo by Issouf Sanogo / AFP To increase cocoa production from the current 250,000 metric tonnes (MT) to 500,000MT in the next five years, the Cocoa Farmers Association of Nigeria (CFAN) has urged the Federal Government to establish a development fund. CFAN, in a communiqué issued at the end of the National Cocoa […]
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The Federal Ministry of Agriculture allegedly spent N3.809 billion on the Ruga Scheme without presidential or National Assembly approval in 2019, it was learnt on Saturday. This expenditure forms part of N60,795,898,225.84 by the Ministry which was the basis of a query by the Office of the Auditor-General of the Federation. The Office issued eight […]
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Following the resignation of two members of its board- Bukar Goni Aji, a non-executive director, and Muntari Zubairu, an executive director, the management of Oando Plc has announced their replacement. According to Oando Plc, Ronke Sokefun and Nana Fatima Mede replace the duo as independent non-executive directors on the company’s board, effective from December 2021. […]
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The Nigerian Exchange Limited (NGX) reopened on a downturn yesterday, occasioned by losses in many highly capitalised stocks, especially BUA cement and MTNN, causing market capitalisation to decline by N238 billion. The market resumed trading activities yesterday, after the Yuletide holidays declared by the Federal government on Monday and Tuesday, December 27th and 28th, 2021 […]
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