The Dangote Cement, has posted a Profit After Tax (PAT) of N191.6 billion, after a tax charge of N89.6 billion in its unaudited results for the half year ending on June 30.The Group Managing Director, Dangote Cement, Mr Michel Puchercos, said this in a statement on Sunday in Lagos.Puchercos said that the company’s resilient results for the six months ending on June 30, was as a result of the group sales volumes which hit 15.3Mt.“In the period under review, Nigerian operations of the company accounted for a sales volume of 9.87 Mt, while pan African operations contributed the balance of…
Author: Temitope N.
Lagos, the Federal Capital Territory and 14 other states reported 558 new cases of COVID-19 on Thursday, according to the figures released on Friday by the Nigeria Centre for Disease Control. The agency also reported two COVID-19 related deaths. The NCDC disclosed this on its official website on Friday. According to NCDC, the 558 new cases were recorded from Lagos, FCT, and 14 other states. Lagos with the the highest numbers for new infections reported 376 new cases Oyo – 33, Akwa Ibom – 26, FCT – 22, Imo – 15, Bayelsa – 13, Ekiti – 13, Kano – 12,…
Nigeria’s pharmaceutical manufacturing sector is going through a tough time, according to the Association of Industrial Pharmacists of Nigeria. The pharmaceutical sector, the association said, is facing serious challenges of infrastructure deficits that players in the industry require government support and intervention to surmount. Speaking, the immediate past National Chairman of the NAIP, Ignatius Anukwu, said the decision of the industrial pharmacists to partner with the Ebonyi State Government in its push for the establishment of pharmaceutical manufacturing parks was prompted by the quest to overcome some of the serious infrastructural challenges facing the industry. According to Anukwu, while the…
The need for Africa and indeed Nigerian women to bridge the gap and compete favourably with their counterparts in the western world through maximising opportunities and exposure to local markets has been emphasised. Experts said that women having the right skills and competency, would make them acquire the global competitive edge most international firms look out for. This was the submission of a group, referred to as ‘Women in Agile’, which seeks to bridge gaps and create platforms for women’s voices, by providing a path to support and amplify a diverse and empowered community. Explaining more on what the group…
Oil major, TotalEnergies, has restated the firm’s commitment to youth empowerment in a bid to realise Sustainable Development Goals (SDGs) and address rising poverty in the country. The oil major noted that education, youth entrepreneurship and inclusion are key to achieving the United Nations Sustainable Development Goals (SDGs) and eradication of poverty in Nigeria. Executive General Manager, Total Country Services, Mrs Bunmi Popoola-Mordi, during a virtual media briefing affirmed Total’s commitment to national development and attainment of the SDGs through various corporate social responsibility (CSR) programmes across the country. She said the CSR support was being driven by four pillars…
Plans by the Federal Government to end gas flaring through a commercialisation arrangement has remained in limbo as the global price of natural gas witnessed over 60 per cent increase. The price stability may indeed push the price to almost the same amount the commodity last traded in 2018, thanks to blue hydrogen and reduction in the impact of COVID-19 pandemic. The Minister of State for Petroleum Resources, Timipre Sylva, in May, said the Federal Government would award licenses under the Nigerian Gas Flare Commercialisation Programme (NGFCP) to qualified bidders as part of efforts to end gas flaring in the…
Experts have expressed concerns over the energy outlook in Africa as the United Nation Development Programme (UNDP) stated that investment in renewable energy increased by two per cent to $303 billion in 2020. Speaking at a virtual programme organised by the United Nations Educational, Scientific and Cultural Organization (UNESCO) Chair on Energy for Sustainable Development at the Politicnico Di Milano, in Milan, Director, UNDP Rome, Musonda Mumba said over 759 million people are still without access to electricity, globally as 2.6 billion people have remained without access to clean cooking solutions. Canvassing innovative ways to address energy poverty in 2018,…
Lagos State Government has said human resource development and capacity building are crucial to achieving its development agenda, known as T.H.E.M.E.S. As a result, the state government, in a statement, said it would continue to invest in capacity building of its workforce to ensure the success of its various development initiatives, adding that civil servants, as drivers of government development policies are partners in progress. Special Adviser to Governor Sanwo-Olu on Education, Tokunbo Wahab, stated this at a closing ceremony of a three–day capacity building retreat organised by the Office of the Special Adviser on Education (OSAE) for Management Staff…
•We’ll develop a national BDC policy, says ABCON The Central Bank of Nigeria (CBN) has commenced the process of refunding licensing fees and capital deposits to promoters of bureau de change, whose registrations were being processed before Tuesday’s announcement. The apex bank had, on Tuesday, announced the suspension of funding of BDCs and registration of new ones, accusing them of money laundering and other anti-market activities. In a circular, yesterday, the apex bank said it “will commence the immediate refund of capital deposits and licensing fees (where applicable) to promoters who have pending bureau de change (BDC) licence applications with…
The Nigerian Association of Petroleum Explorationists (NAPE) has expressed confidence that the future of oil and gas exploration is bright amid the global energy transition. The president, NAPE, Mrs. Patricia Ochogbu, said petroleum exploration is not all about oil, but also about gas even as the Minister of State for Petroleum Resources, Timipre Sylva declared the next 10 years as a decade of gas. Ochogbu stated this on the sidelines of its special technical session in honour of the Executive Director Exploration, First E&P, Dr. Emmanuel Enu in Lagos. According to her, the Federal Government must urgently create the necessary…