TEXT OF THE NATIONAL BROADCAST BY PRESIDENT BOLA TINUBU TO NIGERIANS ON CURRENT ECONOMIC CHALLENGES
TEXT OF THE NATIONAL BROADCAST BY PRESIDENT BOLA TINUBU TO NIGERIANS ON CURRENT ECONOMIC CHALLENGES. AFTER DARKNESS COMES THE GLORIOUS DAWN My fellow citizens, I want to talk to you about our economy. It is important that you understand the reasons for the policy measures I have taken to combat the serious economic challenges this nation has long faced. 2. I am not going to talk in difficult terms by dwelling on economic jargon and concepts. I will speak in plain, clear language so that you know where I stand. More importantly, so that you…
High Cost of Living: Union Bank Raises Employee Compensation Twice
High Cost of Living: Union Bank Raises Employee Compensation Twice It is no longer news that most Nigerians are experiencing severe economic hardship due to the recent FX policy and subsidy removal. The economic challenges arising from the opening up of the foreign exchange market and the removal of petrol subsidies have resulted in soaring inflation and a significant drop in the value of the Naira against the Dollar. This has led to skyrocketing fuel prices, affecting the costs of other essential commodities and services, including food item…
2023 Half Year: Dangote Cement reports a robust Pan-African performance
2023 Half Year: Dangote Cement reports a robust Pan-African performance Dangote Cement has reported a robust Pan-African performance for the half year ended June 30, 2023, with sales volume hitting 5.4Mt. The Pan-African region includes all the cement plant’s operations outside Nigeria. Total sales volume for the Group within the period was 13.4Mt. According to the company’s six months unaudited results, sales volume for Pan-African operation was up 11.6 percent compared to 4.9Mt in H1 2022. The total pan-African volume accounts for 40.4 pe…
Fidelity Bank Stock Upgrade Excites Investors
Fidelity Bank Stock Upgrade Excites Investors According to The Will newspaper, investors have commended the recent reclassification of Fidelity Bank Plc stock from small price stock to medium price stock. Giving his perspective on the development, Mr Boniface Okezie, the National Co-ordinator, Progressive Shareholders Association of Nigeria, commented, “Fidelity Bank has paid its dues in the financial services sector. It has contributed immensely to the development of the small and medium enterprises (SME) sector yet pays dividends to the sha…
FOR A THIRD CONSECUTIVE YEAR, ZENITH BANK MAINTAINS POSITION AS NIGERIA’S BEST COMMERCIAL BANK, ALSO NAMED BEST CORPORATE GOVERNANCE BANK AT WORLD FINANCE 2023 AWARDS
FOR A THIRD CONSECUTIVE YEAR, ZENITH BANK MAINTAINS POSITION AS NIGERIA’S BEST COMMERCIAL BANK, ALSO NAMED BEST CORPORATE GOVERNANCE BANK AT WORLD FINANCE 2023 AWARDS R - L: Dr. Ebenezer Onyeagwu, Group Managing Director/ Chief Executive of Zenith Bank Plc and Paul Richardson of World Finance during the presentation of the Best Commercial Bank, Nigeria and Best Corporate Governance Bank, Nigeria Awards to Zenith Bank Plc at the London Stock Exchange recently. For a third year running, Zenith Bank Plc has been named the Best Commerci…
Introducing Instant Video Messages
Introducing Instant Video Messages Voice messages on WhatsApp changed the way people communicate by providing a quick and secure way to share your voice. We’re excited to build on this feature with new instant video messages. Now you can record and share short personal videos directly in the chat. Video messages are a real-time way to respond to chats with whatever you want to say and show in 60 seconds. We think these will be a fun way to share moments with all the emotion that comes f…
Deregulation: IPMAN, Stakeholders, Laud Polaris Bank, Emadeb Energy for landmark 20,000 metric tonnes PMS import
Deregulation: IPMAN, Stakeholders, Laud Polaris Bank, Emadeb Energy for landmark 20,000 metric tonnes PMS import The Independent Petroleum Marketers Association of Nigeria (lPMAN) has commended Polaris Bank, Nigeria's leading digital commercial Bank and Emadeb Energy Services Limited, one of Nigeria's leading indigenous players in oil and gas, for their collaborative efforts and strategic partnership that resulted in the recent importation of 20,000 metric tonnes of premium motor spirit (petrol) into the country. The National Oper…
Nestlé Nigeria–H1 2023 Financial Results
Nestlé Nigeria–H1 2023 Financial Results Lagos,July 29, 2023: Nestlé Nigeria PLC has announced a revenue of N 261.8 billion in the first half of 2023, an 17.7% increase compared to its performance in the same period of 2022. Gross profit is N 107.3 billion, an 34% increase over 80,205 earned in H1 2022. The Company posted a loss after tax of -N49.9billion, a 280% decline over the same period in 2022. The detailed financial results are available online at https://www.nestlecwa.com/en/investors/nigeria Commenting on the results, Mr. Wassim Elh…
Wema Bank showcases strong performance – Doubles Profitability. Commences Rights Issuance in Q3
Wema Bank showcases strong performance – Doubles Profitability. Commences Rights Issuance in Q3 -Wema Bank announces its unaudited results for Half Year ended 30th June 2023. The commercial bank achieved improved performance including Gross Earnings of ₦89.09bn, a y/y increase of 49% (H1 2022: ₦59.59bn). Interest Income up 53% y/y to ₦76.11bn (H1 2022: ₦49.75bn). Non-Interest Income up 32% y/y to ₦12.98bn (H1 2022: ₦9.85bn). Profit before Tax (PBT) was ₦12.05bn a y/y increase of 97% over the ₦6.13bn reported in H1 2022. Profit after Tax (PAT) …
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Dangote says over 30,000 skilled Nigerians work with expatriates to build Refinery Complex
Dangote says over 30,000 skilled Nigerians work with expatriates to build Refinery Complex Management of Dangote Refinery have debunked a report published on the online platforms of some media organisations that the company employed 11,000 skilled workers from India while allegedly neglecting youths from Nigeria and other African countries. In his response, the Group Chief Branding & Communications Officer, Anthony Chiejina said the report was written with malicious intent as it did not reflect the number of skilled Nigerians on site.…
Google lists Naira as payment option on Play Store
Google lists Naira as payment option on Play Store Technology firm, Google has listed Nigerian currency, Naira, as one of the currencies to be used for payment on its Play Store. This is the outcome of its partnership with Verve, which aim is to make digital transactions on Google Play Store easier for Nigerians. According to the firm, Nigerians can now use their Verve cards to make purchases on the Google Play Store. It stated that under its new partnership, Google would process Verve transactions within Nigeria, and the transactions would be…
2023 Hajj: Gov. Lawal honours pilgrim who returned $80,000
2023 Hajj: Gov. Lawal honours pilgrim who returned $80,000 Gov. Dauda Lawal of Zamfara on Thursday honoured Hajiya Aishatu Guru-Nahuche, a pilgrim from the state who returned missing 80, 000 dollars she found to the owner during the Hajj exercise in Saudi Arabia. The pilgrim who is from Bungudu Local Government handed over the 80,000 dollars, about N64.24 million, to officials of Zamfara Pilgrims Welfare Agency who returned the money to the owner. The governor commended the woman for her “uncommon sincerity”. “We have seen a clear example of h…
No Increase In Tuition Fees Of Federal Universities – Presidency
No Increase In Tuition Fees Of Federal Universities – Presidency The Presidency has categorically refuted claims of any increase in tuition fees of federal universities in the country. The clarification comes in response to widespread media reports earlier this week, which erroneously suggested a hike in educational costs. Presidential spokesman, Dele Alake, in a statement on Wednesday clarified that the recent announcements made by some universities pertaining to discretionary charges, were unrelated to tuition fees. He further explained that…
Ogun Governor begs Nigerians to endure pains of fuel subsidy removal
Ogun Governor begs Nigerians to endure pains of fuel subsidy removal Ogun governor, Prince Dapo Abiodun on Tuesday urged Nigerians to endure the hardship brought on then by fuel subsidy removal for the overall good of the nation. Abiodun gave this advice after a private meeting with the former president Olusegun Obasanjo at his private residence in Abeokuta, the State capital. Gov Abiodun refused to reveal while he visited Obasanjo. Instead, he said he has come to see his father and a son can come to see his father anytime he wishes. While spe…
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Fostering Equality and Empowerment: Wema Bank Gives Economic Lift To Employees
Fostering Equality and Empowerment: Wema Bank Gives Economic Lift To Employees In the Nigerian banking industry, Wema Bank, Plc is widely acknowledged to be a leader in the realms of innovation and technology, and for constantly seeking to provide seamless financial services to its teeming customers, but is the financial powerhouse a champion of its employees' best interests? Yes, the most recent testament to Wema's commitment to establishing a thriving workplace culture is its announcement of a groundbreaking increase in salaries …
Coca-Cola, MTN Foundation, British Council, Microsoft, others and More Unveil as Partners for Africa Social Impact Summit 2023
Coca-Cola, MTN Foundation, British Council, Microsoft, others and More Unveil as Partners for Africa Social Impact Summit 2023 L-R: Matthias Schmale United Nations Resident and Humanitarian Coordinator, Nigeria; Olapeju Ibekwe, CEO Sterling One Foundation; Abubakar Suleiman, MD/CEO, Sterling Bank Limited during a press conference on the second edition of Africa Social Impact summit held in Lagos over the weekend. The Sterling One Foundation and the United Nations Nigeria, co-conveners of the Africa Social Impact Summit 2023, have officially …
Vice Chancellors Hail Dangote's Impact on Nigeria’s Agricultural revolution
Vice Chancellors Hail Dangote's Impact on Nigeria’s Agricultural revolution President of Dangote Group, Aliko Dangote has been hailed as a foremost entrepreneur whose laudable interventions in the agricultural sector in Nigeria should be applauded and emulated by others. DSC 8454, L-R, Vice - Chancellor of Federal University Technology Owerri, Imo state, Prof. Nnenna N. Oti, Vice Chancellor University of Jos, Prof. Tanko Ishaya, Who Represent the Chairman of the Committee of Vice - Chancellors Of Nigerian Universities, Present Reco…
Fidelity Bank reclassified as Medium Price Stock
Fidelity Bank reclassified as Medium Price Stock Following a bullish run in the stock market in recent months, the Nigerian Exchange Limited (“NGX”) on Friday announced the reclassification of Fidelity Bank Plc. from small price stock to medium price stock. A statement by the NGX said the reclassification became necessary because Fidelity Bank Plc. shares have been trading above the N5.00 mark since February 2023. “Rule 15.29 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules) notes that equities priced above N5 per share for at l…
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