BUSINESS

CBN changing the face of cash crunch

Daily Dispatch March 31, 2023

As the banks have started to disburse more cash to customers and the long queues beginning to reduce at the Automated Teller Machines, ATM, many Nigerians are expressing mixed reactions to the motive behind the policy of redesigning the banknotes and the pains it inflicted on Nigerians for over

BUSINESS

UBA: N11tr Total Assets, N201bn Profit, 90kobo Dividend in 2022

Daily Dispatch March 31, 2023

Africa’s Global Bank, United Bank for Africa (UBA) Plc has released its audited financial results for the full year ended December 31, 2022, showing impressive performance across major indices. The 2022 financials, filed by the Bank at Nigerian Exchange Limited (NGx) on Thursday, showed that gross earnings rose significantly to N853.2 billion from N660.2 billion […]

BUSINESS

Dangote plans for Nigeria’s self-sufficiency in cement, petroleum, others

Daily Dispatch March 30, 2023

Dangote Industries Ltd. plans to ensure that Nigeria becomes self-sufficient in cement, agriculture, mining and petroleum products. The Regional Sales Director, Southeast Dangote Cement, Dr Abayomi Shittu stated this in Enugu on Thursday during Dangote Special Day at the on-going 34th Enugu International Trade Fair. Dangote Industries Ltd. is into cement, sugar, salt, poly

BUSINESS

NCDMB, FIRS offer tax incentives for oil industry R&D investments

Daily Dispatch March 30, 2023

Oil and gas companies desirous to reduce their tax burden and grow profitability should consider increasing investments in research and development (R&D), with a view to taking advantage of the incentives provided in existing fiscal laws, the Nigerian Content Development and Monitoring Board (NCDMB) and the Federal Inland Revenue Service (FIRS) have canvassed.

BUSINESS

Nigeria’s public debt rises to N46.25trn

Daily Dispatch March 30, 2023

Nigeria’s total public debt stock increased to N46.25 trillion or $103.11 billion as of December 2022, the Debt Management Office (DMO) disclosed on Thursday. According to the DMO, the new figure is comprised of the Federal Government’s and sub-national governments’ total domestic and external debt stocks (36 state governments and the Federal Capital Territory). According

BUSINESS

Dangote lists N300b series 1 and 2 largest bonds on NGX, FMDQ

Daily Dispatch March 30, 2023

Dangote Industries Limited, DIL, has formally listed its N300 billion Series 1 and 2 bonds issued under the Dangote Industries Funding Plc. during a grand listing ceremony at both the FMDQ and the Nigeria Exchange Limited (NGX) in Lagos. Olakunle Alake, Group Managing Director of Dangote Industries Limited, told investors during the listing ceremony that […]