Transcorp Hotels Plc on Monday reported that its gross profit rose by 143% to N16.23 billion even as the revenue grew to N21.7 billion in the 2021 financial year. The hospitality company’s Chairman of the Board of Directors, Mr. Emmanuel Nnorom, while giving these figures at the 8th Annual General Meeting (AGM) in Abuja, also […]
The Federal Executive Council (FEC) has approved a total of N92,123,175,305.77 for the construction of a second runway at the Nnamdi Azikiwe International Airport, Abuja. The Minister of Aviation, Senator Hadi Sirika, gave this hint on Wednesday after the FEC’s virtual meeting, presided by President Buhari at the Villa, Abuja According to him, the sum […]
Analysts at Fitch Ratings have warned that insurers could face claims as high as $10 billion in a worst-case scenario due to the grounding of planes in Russia, with 30-40% likely to be passed on to reinsurers. More than 500 planes that are financed or owned by non-Russian lessors are stranded in Russia due to […]
Nigeria’s total merchandise trade value rose to N11,707.20 billion in the fourth quarter (Q4) of 2021, representing 11.79 percent higher than the value recorded in Q3, 2021, totalling N10,472.42 billion. Briefing journalists on the key highlights of the merchandise trade in the quarter under review at the ‘Statistics House’ in Abuja, the Statistician General of […]
Jaiz Bank Plc, Nigeria’s leading non-interest bank,has opened a new branch at the National Hajj Commission of Nigeria (NAHCON) in Abuja, bringing its branches at the Federal Capital Territory to seven (7) and total branches nationwide to 44. In his opening remarks at the unveiling of the bank’s branch operations yesterday, Managing Director of the […]
The Bureau of Public Enterprises (BPE) has issued discharge certificates to three privatized enterprises which were earlier de-listed from monitoring activities by the Bureau. The companies are, Cement Company of Northern Nigeria (CCNN) located in Sokoto State; Federal Superphosphate Fertilizer (FSFC), Kaduna State and Ikoyi Hotels Ltd. (Southern Sun), Lagos State. Presenting the certificates to […]
The United Arab Emirates (UAE) on Wednesday indicated its readiness to lift its entry and transit ban on travellers who had recently visited South Africa, Kenya, Nigeria, Ethiopia and eight other African countries. Other countries to be affected by the lifting include, Tanzania, Republic of Congo, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe. The country’s […]
The Minister of Aviation, Senator Hadi Sirika, on Wednesday disclosed that plans had been concluded by the government to ensure the take of national airliner, Air Nigeria, by April next year. The proposed take off of the airline is coming after over three years of sustained efforts by the Federal Government to establish a national […]
South African company and leading pay TV service provider in Nigeria, MultiChoice, has prepared grounds to appeal a $4.4 billion tax claim by the Federal Inland Revenue Service (FIRS). The company stated on Wednesday that its Nigerian unit had obtained clearance from a tax tribunal to proceed and institute the appeal after paying a $19.4m […]
The Federal Government on Sunday projected that it expected Nigeria’s Gross Domestic Product (GDP) per capita to rise to $2,300 by the end of this year. The Minister of Industry, Trade and Investments, Otunba Niyi Adebayo, who gave the projection at the United States-Nigeria Investment Summit held in New York, noted that Nigeria’s GDP, which […]