The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in the month of March 2021 representing a 24.7% increase from the ₦188.15billion sales recorded in the previous month of February 2021. This was contained in the…
Nigeria’s private sector began the second half of the year on a positive footing as they continued the run of expansion that began in July 2020. Quicker upticks in output, new orders, purchases and employment supported growth. Despite this, firms were able to keep backlogs at bay, though sentiment did moderate to the weakest since…
Online business owners can now access funding of up to N2million with SocialPay, an online payment collection product designed by Sterling’s The Business Hub to facilitate payments via multiple payment options including USSD, bank transfer, card options, and PayWithSpecta. In addition, the first 10,000 merchants will have access to a one-month interest free loan up…
Dangote Sugar Refinery recorded strong improvements in performance indices in half year ended June 30, 2021, as group revenue increased by 27.8 percent to N131.95 billion in contrast to N103.23 billion recorded at the same period in the preceding year. According to the refinery’s unaudited results for the period, Gross profit grew double digit at…
Following the recommendation by the Inspector-General of Police (IGP), Usman Alkali Baba, the Police Service Commission (PSC) has approved the suspension of DCP Abba Kyari, from the Nigeria Police Force, over his indictment by the Federal Bureau of Investigation (FBI). The police agency said Kyari’s suspension took effect on Saturday, July 31, 2021 and the…
In its commitment toward mitigating disaster risk in Nigeria, the National Emergency Management Agency NEMA is seeking for support and stronger collaboration with National Information Technology Development Agency (NITDA) on the use of ICT Infrastructure and Digital platform with a view to ensuring timely and lifesaving search and rescue operations. This was discussed on Saturday…
Africa’s largest cement producer, Dangote Cement has announced resilient results for the six months ended 30th June 2021 as Group sales volumes hit 15.3Mt. According to the company’s unaudited results for the period under review, Nigerian operations accounted for a sales volume of 9.87 Mt while pan African operations contributed the balance of 5.5Mt. The…
Nigeria’s retail lender, Unity Bank Plc has declared half-year result posting gross earnings of 23.6 billion Naira, which is a 3% increase compared with the corresponding period of 2020. A review of the unaudited half year result (H1’2021) released to the Nigerian Stock Exchange, the Agric-focused lender showed notable improvement across key financial matrices.…