Mar 31, 2021 - Business Metrics

BUA Cement reports N209bn revenue in 2020

Mar 31, 2021 Omobayo Azeez

REVEALED! How cement prices in Nigeria can crash

BUA Cement reports N209bn revenue in 2020 Proposes N2.067K Final Dividend Bua Cement Plc Releases Audited Financial Results for the 12-Month Period Ended December 2020 which shows that its revenue increased by 19.3 per cent to N209.4 billion from N175.5 billion, as at FY2019. The report filed at the Nigerian Stock Exchange (NSE) revealed that the company’s operating profit increased by 14.8 per cent to N82 billion from N71.4 billion recorded in the previous year. EBITDA rises by 18 per cent to N96.8 billion from N82 billion, as…

Aigboje Aig-Imoukhuede bows out of NSE ceremoniously

Mar 31, 2021 Ugochi Emmanuel

Aigboje Aig-Imoukhuede bows out of NSE ceremoniously The Ex-Officio, National Council, The Nigerian Stock Exchange (NSE), Aigboje Aig-Imoukhuede, was hosted to a digital Closing Gong Ceremony in celebration of his years of meritorious service and contributions to the growth of the NSE on 31 March 2021. With the successful completion of demutualisation, the NSE has transitioned from a member-owned company to a company owned by shareholders, bringing to an end the leadership of the National Council. The farewell event for Aig-Imoukhuede was well attended by members of the…

NCC open to innovations, strategic collaboration for human capital development – Danbatta

Mar 31, 2021 Umar Suleiman

L-R: Director, Human Capital and Administration, Usman Malah; Vice-Chancellor, Nile University, Prof. Osman Aras; Head, Human Capital, NCC, Usman Mamman and Dean, Faculty of Natural and Applied Sciences, Nile University, Prof. Musa Muhammad, during the courtesy visit of the university to the Commission in Abuja. NCC open to innovations, strategic collaboration for human capital development – Danbatta The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has emphasised that the Commission will always be open to ideas, innovations and meaningful collaboration…

Deepening Broadband: NCC urges Nigerian govs to waiver Right of Way charges

Mar 31, 2021 Umar Suleiman

Deepening Broadband: NCC urges Nigerian govs to waiver Right of Way charges The Nigerian Communications Commission (NCC) has encouraged state governors in the country by consider waivering Right of Way (RoW) charges to accelerate the pace of broadband penetration in their respective states. Umar Danbatta, the Executive Vice Chairman/CEO of the Commission had identified, RoW, charges as a major limiting factor to provision of broadband services in Nigeria, as it slows down network deployment with the cost of the limited capacities ultimately passed to the subscribers. Addressing the…

NiMet assures smooth flight operations from April 1

Mar 31, 2021Apr 1, 2021 Omobayo Azeez

NiMet assures smooth flight operations from April 1 The Nigerian Meteorological Agency (NiMet) has assured Nigerians of smooth flight operations beginning from tomorrow, Thursday, April 1. The assurance came as a result of the hazy weather conditions in the north and central parts of the country, which have delayed and cancelled many flights. Explaining reasons for the dust haze, the Central Forecast Office (CFO) of the Agency in a release, said that: “The present dust haze being experienced across the north and central regions of the country resurfaced on…

NIN-SIM April Deadline: Court forbids FG from blocking SIM cards

Mar 31, 2021Apr 1, 2021 Ugochi Emmanuel

57.3 million Nigerians complied with SIM-NIN enrolment directive

NIN-SIM April Deadline: Court forbids FG from blocking SIM cards A Federal High Court in Lagos State has barred the Federal Government from blocking SIM cards not linked to National Identity Numbers next month. The Ministry of Communications and Digital Economy had, through the Nigerian Communications Commission (NCC), asked operators to block all SIM cards not linked to NIN by April 6, 2021. The deadline had caused many Nigerians to gather at offices of the National Identity Management Commission in disregard of COVID-19 protocols. However, a former second…

Insecurity, COVID-19 drain Nigeria’s FDI to $65m from $750m

Mar 31, 2021 Ugochi Emmanuel

Foreign investors reduce withdrawal from capital market to N15.9bn in five months

Insecurity, COVID-19 drain Nigeria’s FDI to $65m from $750m Foreign Direct Investment (FDI) inflow to Nigeria dropped to $65m as of the end of the fourth quarter of 2020 from $780m as of the end of third quarter. Figures obtained by our correspondent from the Central Bank of Nigeria’s economic report in the fourth quarter revealed. Part of the report read, “Foreign Direct Investment inflow declined to $0.65bn, relative to $0.78bn in the previous quarter, as both equity and reinvested earnings declined during the review period, occasioned by…

Indigenous tech firm launches Konn3ct into $75bn world’s virtual conferencing market

Mar 31, 2021Mar 31, 2021 Omobayo Azeez

Indigenous tech firm launches Konn3ct into $75bn world’s virtual conferencing market A Nigerian tech start-up firm, Newwaves Ecosystems Limited is pitching for a major stake in the multi-billion-dollar global online meeting market with the launch of its virtual conferencing platform, Konn3ct. Chinese company, Zoom Video Communications in 2020, emerged as the global leader in the virtual conferencing business, controlling 14.73 percent of a market that has more than 140 other competitors. Market research firm, Research and Markets projects the worlds Global Web Conferencing Market, to reach a valuation of…

Air Peace deploys aircraft to service Enugu, others

Mar 31, 2021Apr 1, 2021 Business Metrics

Air Peace deploys aircraft to service Enugu, others Air Peace has deployed one of its wide-body Boeing 777 aircraft to service the Enugu route. The airline said this would ensure sufficient flights for its customers and other travelling Nigerians during the Easter holiday. The airline has also increased flight frequencies to Owerri (Imo State) and Asaba (Delta). Air Peace spokesman Stanley Olisa announced this at a media briefing in Lagos. He said the jumbo, extra-comfy aircraft had been specifically deployed to operate the Lagos-Enugu-Lagos and Abuja-Enugu-Abuja routes. The spokesman…