Oil and Gas Free Zones Authority Nigeria

Industry

Dangote Flour Mills Plc: A Much Better Year

By Folakemi Emem-Akpan   Projections/Future outlook The 2016 financial year was quite the profitable one for Dangote Flour Mills Plc, a marked departure from 2015 when it made losses. Not only did growth indices and profitability ratios improve drastically over the preceding year’s, they also competed favourably against industry standards for the period. While the Dangote Flour Mills stock wasn’t ...

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Berger Paints Plc: A Challenging Year Ahead

By Folakemi Emem-Akpan Projections/Future outlook Our analysis of Berger Paints Plc’s 2016 financial report shows that the 2016 financial year was a good one for the company when the results are considered without a historical reference and without reference to the industry standards for the period. While the company recorded profitability ratios, such ratios were generally lower than those of ...

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OGFZA, Customs Partner on Service Delivery

The Oil and Gas Free Zones Authority (OGFZA) and the Nigeria Customs Service (NCS) are committed to working together for improved service delivery to clients in the nation’s free trade zones, authorities of both agencies of government have said. Addressing a joint stakeholders’ forum of the two agencies in Onne, Rivers State, organised to fine tune a pathway to better ...

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Only Viable Free Zones Should be Licensed—Umana, Sodade

At the first session of the Nigeria Business Roundtable in Lagos at the weekend, a regulator and a developer of free zones both spoke with one voice in emphasizing the policy of total compliance with a strict regime of requirements for operating licence by prospective free zone developers. The managing director of Lekki Worldwide Investments Limited, Dr Tunde Sodade, a ...

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Nigerian Breweries Plc: Not as Hard Hit

By Folakemi Emem-Akpan   Projections/Future outlook While Nigerian Breweries Plc was not as hard hit as most other companies were by the ravages of the Nigerian economic recession of 2016, it was also not totally exempt. It made a slightly higher turnover but had lower profits in 2016 than in 2015 because of growing finance costs. Also, while profitability ratios ...

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Diamond Bank Plc: Struggling to Translate Income to Profit

By Folakemi Emem-Akpan     Outlook   For Diamond Bank Plc, the 2016 financial year was a tougher one than usual. It wasn’t able to earn as much from its core banking operations, and despite the fact that it upped the tempo of its non-core banking activities, turnover for the year recorded a slight decline. Decline in profit was even ...

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Global Investment Destination: Why Nigeria Deserves a Fresh Look

  Time for licensing a new business at OGFZA now 14 days, down from 28; time for licence renewal, 48 hours from 14 days. Incorporation of businesses at CAC now a 24/7 online operation.   The World Free Zones Convention held last month in Doha, Qatar, provided a platform to focus on country attractiveness to investment capital based on the ...

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Mobil Oil Nigeria Plc: Fantastic 2016, 2017 Yet Unpredictable

By Folakemi Emem-Akpan   Projections/Future outlook We project that the 2017 financial year will be a slightly leaner one for Mobil than 2016 was. While an analysis of its 2016 financial report shows that the 2016 financial year was a great one for the company, it might be unable to sustain the momentum into 2017. In 2016, not only was ...

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OGFZA TO ENFORCE RULES ON FREE ZONE OPERATIONS

Oil and Gas Free Zones Authority Nigeria

… defaulters risk serious sanctions The leadership of the Oil and Gas Free Zones Authority (OGFZA) has said that it is determined to enforce all extant laws and regulations guiding operations in the oil and gas free zones. Addressing a management meeting of the Authority in Onne recently, managing director of OGFZA, Mr Umana Okon Umana said the agency has ...

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