Experts seek improved private sector investments in infrastructure

Financial analysts at FSDH Research have expressed the need for the Federal Government to involve the private sector to finance the infrastructure gap in Nigeria. Noting that it is estimated that about $100 billion must be invested annually to finance infrastructure development in Nigeria to close the deficit, the analysts stated that the weak revenue generation […]

Air Peace clarifies delay in international routes operations

Air Peace, one of the nation’s commercial airlines, at the weekend explained that it was yet to embark on its international long-haul operations because it has not secured approvals for flight service from the countries of its planned destinations. It would be recalled that the Federal Government recently designated Air Peace to fly to London, […]

Brazil approves tax holiday for Ford, others

TaxTax’s President, Michel Temer, has signed into law hundreds of millions of dollars in incentives for automakers such as General Motors Company and Volkswagen to produce locally and continue developing engines that run on both gasoline and ethanol. The plan, known as Rota 2030, replaces a previous package of tax exemptions known as Innova Auto […]

Insolvency: CBN revokes licences of 182 financial institutions

The Central Bank of Nigeria (CBN) has revoked the operational licences of 182 other financial institutions (OFIs) across the country. In a notice of revocation of licences of 182 OFIs obtained from its website, the apex banks lists the financial institutions to include 154 microfinance banks, 22 finance companies and six primary mortgage banks. Giving […]

Lafarge Africa gets shareholders’ nod on N90bn Rights Issue

Shareholders of Lafarge Africa Plc at the company’s extraordinary general meeting (EGM) held in Lagos approved the proposals by the Board to raise N90 billion via a Rights Issue and the restructuring of its outstanding short-term $315 million shareholder loans. Speaking at the EGM, Chairman of the Board of Directors of Lafarge Africa, Mr Mobolaji […]

FG’s commitment to grow real sector gaining policy traction – Enelamah

The Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, has restated Federal Government’s commitment to providing all the necessary policy and investment supports to enhance the performance of the nation’s real sector in the years ahead. The minister, who gave the assurance at a public lecture organized by the Commerce and Industry Correspondents Association of […]

Unilever re-launches Lifebuoy, targets improved hygiene practices for children

Unilever Nigeria Plc has re-launched its health soap brand, Lifebuoy, and also unveiled renowned Afro-pop singer-songwriter, Omawumi Megbele, as its new ambassador during an event held in Lagos. The company hinted that the health soap brand will partner with Wellbeing Foundation Africa and Sightsavers to improve maternal and child health in the country. According to […]

Paga boosts operations with $10m Series B2 investment

Paga, a leading mobile money company in Nigeria, has announced that it closed a $10 million growth financing led by the Global Innovation Fund, GIF. Also participating in the round were existing investors Goodwell (managed by Alitheia Capital), Adlevo Capital, Omidyar Network and Unreasonable Capital. This new financing brings the total funds Paga has raised […]

Heritage Bank, Multichoice partner to grow Africa’s film industry

Heritage Bank Plc has partnered MultiChoice Nigeria Limited, owners of the DSTV and GOTV brands, to boost Africa’s film industry with the sponsorship of the 2018 edition of the Africa Magic Viewer’s Choice Awards (AMVCA). Divisional Head, Corporate Communications of Heritage Bank, Fela Ibidapo, said that the bank sponsored the programme to reposition Nigeria’s entertainment […]

Top 50 Brands: Dangote emerges most valuable brand in Nigeria

Dangote has emerged as the most valuable brand among the top 50 brands in Nigeria for 2018 unveiled at the weekend in Lagos. This is coming barely three months after the brand was adjudged the most admired brand of African origin by Consumers in a brand rating coordinated by South Africa based Brand Leadership in […]