Oil and Gas Free Zones Authority Nigeria


Nestle Nigeria reports HY pre-tax profit of 896.4 mln naira

Nestle Nigeria

HY profit before tax of 896.4 million naira compared to 10.61 billion naira a year ago HY revenue of 80.44 billion naira compared to 65.92 billion naira a year ago Nestle Nigeria Plc has released its Unaudited Financial Statements for the period ended 30th June 2016 through the Nigerian Stock Exchange (NSE) with a profit of N535.8 million, a 94 percent drop ...

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Nigeria to Experience Zero Fuel Scarcity When Dangote Refinery Comes On-stream

Dangote and Ambode

Lagos State Governor, Mr. Akinwunmi Ambode, on Tuesday said the refinery project being developed at the Lekki Free Trade Zone (LFTZ) by President of Dangote Group, Alhaji Aliko Dangote, would address the perennial fuel scarcity problem in Nigeria and West Africa. Ambode, who spoke during an inspection tour of the refinery by the Togolese President, Mr. Faure Gnassingbe, expressed optimism ...

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CBN to Enforce Dollar Sale to BDCs in a Bid to Strengthen Naira

To increase the volume of dollar in the market and stabilise the naira, the Central Bank of Nigeria (CBN) is set to compel banks to sell foreign currency proceeds of international money transfers to Bureaux De Change (BDCs). In a July 22 circular to the banks, titled:  “Sales of foreign currency proceeds of international money transfers to BDCs”, signed by ...

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Oil Price Slumps: Hit New Three-month Low

World oil prices descended this week to their lowest levels for more than three months, rocked by renewed worries about a global supply glut and increased production. The market extended its losses on Friday to a seventh straight day, as traders’ screens were awash with red. In morning deals in London, Europe’s main contract Brent North Sea crude slid to ...

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Skye Bank Gets Life-line: Affirms CBN’s N101b Recapitalisation

The much-anticipated lifeline for troubled Skye Bank Plc has finally arrived, with a recapitalization to the tune of over N100 billion. A top and reliable source in the bank confirmed to The Guardian yesterday, that the funding was about $315 million and worth more than N101 billion from the apex bank, to smoothen their operations again. The newly appointed Managing ...

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Zenith Bank Is Nigeria’s Most Customer Focused Bank-KPMG

zenith bank

CLINCHES WORLD FINANCE ‘BEST CORPORATE GOVERNANCE AWARD’ 2016 Zenith Bank Plc has emerged as the bank with the most satisfied customers in Nigeria. According to the Africa Banking Industry Customer Satisfaction Survey released by KPMG for 2016, Zenith Bank led with 74.6 points to clinch the prime position in the retail banking category, followed by Guaranty Trust Bank (74.1), Diamond ...

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Nigeria Labor Congress Orders Buhari To Reverse Pump Price In 3 Days Or Face Indefinite Strike

nlc tuc

The Nigeria Labor Congress (NLC) has ordered the federal government to revert to the original price of petrol by Tuesday next week or face indefinite strike from workers. Addressing the press after it’s National Working Committee meeting in Abuja today, NLC leaders also urged asks Nigerians to stockpile food ahead of the protest against fuel subsidy removal. JOINT COMMUNIQUE ISSUED ...

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