Afromedia Plc posts ₦1.7 billion loss in 2016

Afromedia Plc has released its audited financial statements results for the year ended 30th September 2016.  Turnover 2015: ₦407.25 million 2016: ₦494.4 million. %Change: 21.4% Loss before tax 2015: ₦2.7...

Sun Trust Bank announces new Board Chairman

The Board of SunTrust Bank Nigeria Limited (SunTrust Bank) has announced the appointment of Mr. Jibril J. Aku as Chairman of the bank succeeding...
Minister of Finance Zainab Ahmed, OAGF, TSA

Increasing debt servicing cost deters investors from investing in Nigeria

Report has it that the cost of servicing government debt in Nigeria is limiting foreign investors from investing their money in the country.
Nigerian National Petroleum Corporation, Ndu Ughamadu

NNPC reshuffles management as NPDC boss and 49 others lose their jobs

The Managing Director of the Nigerian Petroleum Development Company, Yusuf Matashi, has been sacked and replaced with Usman Yusuf, the former Assistant to the GMD.
Cheng-Fa Nigeria Limited

A Chinese company just got shut down in Lagos; here’s why

Aokete Lighting Electronics Ltd has been sealed off by a special task force of the Importers Association of Nigeria over an alleged illegal business operation in the country.
It would cost you N1.2 billion to have lunch with Warren Buffett

It would cost you N1.2 billion to have lunch with Warren Buffett

Ever wondered what it would be like to have lunch with Warren Buffett, the fourth-richest person in the world? That would make for a very exciting adventure, not to talk of the many business lessons you would surely learn while at it.

These are some of the best “Lazy Nigerian Youth” response to Buhari

Nigerians have reacted to the comments made by President Muhammadu Buhari at Commonwealth Business Forum in London accusing much Nigerian youth of laziness. Speaking at the...
Yemi Osinbajo

Osinbajo lament banks’ poor lending culture to SMEs

The Vice President, Prof. Yemi Osinbajo has lamented the low impact of commercial banks on Nigerians nothing that no fewer than 40% are still...

Average cooking gas price drops to ₦2090 in March

The National Bureau of Statistics NBS has released the Liquefied Petroleum Gas price watch for the month of March. Average price for the refilling...

Adeosun defends Nigeria’s growing debt profile using the metric economists hate to love

Minister of Finance, Kemi Adeosun has assured that Nigeria’s debt level was still sustainable and under control. Reacting to comments credited to IMF Managing Director...
Mary Uduk, SEC

SEC reveals plans to ease trans border listing

Securities and Exchange Commission SEC has revealed plans by the West African Securities Regulatory Authorities (WASRA) to harmonize existing rules used by the capital...

Indonesian Government wants more crude oil supply from Nigeria

The Nigerian National Petroleum Corporation (NNPC) has received a request from the Indonesian government to supply it more volumes of Nigeria's crude oil blends to...

3 DIY Ways to Find a Suitable Valuation of a Business

Valuing a business is a worrisome necessity for many business people- on one side for those who want to sell who fear undervaluing the...
Conoil Plc, NSE, Conoil Plc's shares, NSE suspends shares from trading shares

Conoil proposes N2 per share dividend for shareholders

All things being equal, the shareholders of Conoil Plc will get a dividend payment of N2 per share for the 2018 full year soon,...

Nigerian brands on alert as Facebook revises news feed algorithm

The recent announcement by social media giant Facebook of a change in its newsfeed algorithm has claimed its first casualty. Recall that Facebook had earlier...

Why the future belongs to firms that embrace blockchain

If 2017 was the year of blockchain early adoption by mainstream businesses, 2018 to 2027 will be the decade blockchain solutions will be disrupting...

Polio Debt: Gates Foundation agrees to repay Nigeria’s $76m debt.

Nigeria has given the its green light to Bill and Melinda Gates Foundation to start the repayment of 76 million dollars polio eradication facility...

These Nigerian songs are about to cost Multichoice N5.9billion damages

A Federal High Court  has delivered judgement in a suit filed by Multichoice Nigeria Limited against Musical Copyright Society of Nigeria Ltd.(MCSN)/GTE. It would be recalled...
Chocolate City Group

Warner Music Group partners Chocolate City Entertainment

The partnership is aimed at growing the local artists by giving them international exposure, whilst promoting the Afrobeats.

UBA, 3 others to migrate to NSE premium board

The Nigerian Stock Exchange NSE has announced the migration of Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank...

Increased offshore trade boosted transactions on NSE by 7.13% in June – Exchange

The Nigerian Stock Exchange data has revealed that increased inflows from foreign investors has boosted the transactions on the stock market by 7.13% to...

Nigerian Labour Congress has proposed ₦72,000 as the new minimum wage

Apparently succumbing to persistent agitation by the Nigeria Labour Union, coupled with the prevailing economic realities public workers across the country face, the Buhari-led...

NCC launches cyber-crime control centres across Nigeria

In a bid to checkmate cyber security issues in Nigeria whilst keeping in touch with global best practices, the Nigerian Communication Commission (NCC) has finalised plans to launch cyber-crime control centres (known as Emergency Control Centres) across the country.
African Securities Exchanges Association

Why Arumah Oteh is clamouring for the listing of African SMEs

African Exchanges have been urged to encourage the listing at least 44,000 SMEs out of the 44 million SMEs currently operating on the African continent.
Femi Otedola Chairman Forte Oil Plc

Forte Oil’s proposed business restructuring could be upsetting some shareholders

Apprehension is said to be building up as stakeholders of Forte Oil Plc meet next week Monday for the company's Annual General Meeting (AGM)....

Beta Glass Plc announces changes in Management

Beta Glass PLC has announced the resignation of two of its directors:  Mr. Olaolu Akerele and Chief Christopher Aviele. The resignations take effect from...

Corporate News Roundup for the week ended March 3, 2018

This Corporate News Compilation for the week ended March 3rd, 2018 is brought to you by Bluechip Technology Ltd Nigeria. 1. Google announced last week that it...

Authur Eze’s Oranto Petroleum secures Uganda oil exploration deal

Oranto Petroleum has announced the signing of two production sharing two production sharing agreements with Uganda to explore for oil and gas around Lake...
Licensed Micro-finance Banks

Ugodre explains all you need to know about the CBN’s rate cut

tHE Founder and Publisher of Nairametrics, Mr Ugo Obi-Chukwu, used his Twitter page to explain the implications of CBN's recent cut of MPR rate.
Juice. Courtesy- Roberta Sorge via Unsplash

Coca-Cola Nigeria will start Juice production to boost revenue

The parent company of Coca-Cola Nigeria, Coca-Cola HBC, has revealed that it will prioritize the production of plant-based beverages, juice smoothies, and PET juice packaging...


Abdulwasiu Sowami, Forte Oil, Femi Otedola

Meet Abdulwasiu Sowami, the silent billionaire who acquired Forte Oil

Although, Femi Otedola’s decision to divest his shares in Forte Oil came as a surprise to many Nigerians, it was more surprising that it was acquired by Nigerian company, Prudent Energy & Services Limited, owned by a Nigerian businessman and oil mogul.
Gainers and Losers, Nigerian Stock exchange

NAHCO and CAP Plc end the week at year lows

McNichols Plc was the worst performing stock on the @nsecontact declining by 18.18% to close at a year low of N0.45.
Pepsi acquires Pioneer Foods Group, Pepsi acquires Nigerian bread company Butterfield, Pioneer Foods Group shares on JSE, Nairametrics news, Business news, Naija news

Pepsi acquires Pioneer Foods Group Ltd

@pepsi has acquired Pioneer Foods Group Limited, the company that owns Nigerian bread brand, @ButterfieldBake. The deal is the first major international purchase under @pepsi's new Chief Executive Officer, Ramon Laguarta.