Threatened by a N120 million Court judgment awarded to accident victims, three subsidiaries of BUA Group fight over ownership and auctioning of the six affected trucks in Kogi. While BUA Transport claimed all the six trucks belong to it, BUA Foods Plc claimed two of them belong to it, while BUA Cement Plc also claimed…
Nigeria’s Purchasing Manager Index, PMI, which measures the prevailing direction of economic trends in manufacturing sector, shrank for the second month in a row in March, 2023 no thanks to the lingering cash crunch in the country. A Stanbic IBTC Bank report indicated that the countrys factory activity was 42.3 for March, sloping from 44.7…
British billionaire Sir Richard Branson’s rocket company Virgin Orbit has filed for bankruptcy in the US after failing to secure new investment. The satellite launch company halted operations weeks ago but it hopes to find a buyer for the business. The company, based in California, announced last week that it would cut 85% of its…
Cadbury Nigeria Plc, a subsidiary of Mondelēz International, recorded gross earnings of N55.21 billion for the full year ended December 31, 2022. The turnover represents 30 per cent growth when compared to the N42.37 billion posted in the same period in 2021. The company disclosed this in its annual report and financial statements as corporate…
Dangote Industries on Wednesday announced the completion of its N200bn series 1 and 2 Bonds listing on Nigerian Exchange Limited. The Chief Executive Officer, Dangote Industries Limited, Mr Olakunle Alake, speaking at the closing-gong ceremony to commemorate the listing of the bond held at the Exchange on Wednesday, expressed delight after the listing. Alake, who…
As the federal government prepares to completely deregulate the downstream sector of the Nigerian oil and gas industry in the coming months, stakeholders in the sector have told Nigerians to be ready to pay as much as N750 per litre of petrol at filling stations. This was the highpoint of stakeholders’ interventions during an online…
The board of Dangote Sugar refinery plc has appointed Yabawa Lawan Wabi, as an Independent Non-Executive Director. According to a corporate notice signed by the Company Secretary, Temitope Hassan, the appointment was approved by the board at its meeting held on February 28, 2023. Mrs. Wabi has experience in the public sector having served as…
