Tantalizers Plc, Nigeria’s quick-service restaurant (QSR) sector, has announced a major expansion into the country’s blue economy with the acquisition of 10 state-of-the-art trawlers and a strategic partnership with a U.S.-based marine consortium. This move marks a significant milestone in the company’s diversification strategy, aimed at tapping into […]
Author: Business Nexus
DMO Reappoints Stanbic IBTC Stockbrokers Official Federal Government Stockbroker
The Debt Management Office (DMO) of Nigeria has reappointed Stanbic IBTC Stockbrokers, a subsidiary of Stanbic IBTC Holdings Plc as the Government Stockbroker to the Federal Government of Nigeria. The company in a statement said the reappointment underscores the firm’s unwavering commitment to excellence; consistency in delivering […]
Seplat Energy Declares $16.5 Cents Dividend Per Share
Seplat Energy Plc, a Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has announced its audited financial results for the year ended December 31, 2024. The company declared a total dividend of $16.5 cents per share for the period, representing a […]
Dangote Cement’s Manufacturing Costs Hits ₦1.65trn In 2024
Dangote Cement’s Manufacturing Costs Hits ₦1.65trn Amid Rising Energy Prices Dangote Cement Plc has reported a sharp increase in manufacturing costs, which rose by 63.5 per cent to ₦1.645trn in the 2024 financial year, up from ₦1.006trn in 2023. The surge was largely driven by the devaluation of […]
FG Canvasses For More Women Participation in Capital Market ……As SEC launches Podcast
As the world marks International Women’s Day, Nigerian women have been encouraged to explore investment opportunities in the capital market as a pathway to wealth creation. The Minister of State for Finance, Dr. Doris Uzoka-Anite, made this call during the official launch of the Securities and Exchange Commission […]
Nestlé Posts N150bn From Revaluation Model For Lands, Others
Nestlé Nigeria Plc has reported a net revaluation gain of N150bn following the adoption of a revaluation model for its lands, buildings, plants, and machinery in March 2024. This transition from cost accounting significantly impacted the company’s financial position, reflecting the gain in its Statement of Comprehensive […]
ICAN, Union Bank Partner On Nigeria’s Accounting, Financial Sector
The Institute of Chartered Accountants of Nigeria (ICAN) and Union Bank of Nigeria have reinforced their commitment to the advancement of Nigeria’s accounting profession and overall financial sector growth through a strategic partnership. This was marked by a courtesy visit by ICAN officials to Union Bank’s head office at […]
NNPC Shipping, Caverton, Stena Launch New Joint Venture
Caverton Offshore Support Group Plc (Caverton) has announced a strategic joint venture with The Nigerian National Petroleum Corporation (NNPC) Shipping and global maritime leader Stena Bulk. The agreement, signed in London, aims to revolutionize Nigeria’s maritime transportation by establishing a new tanker operation to serve regional and […]
Stanbic IBTC Blames 2024 Accounts Delay On CBN Approval
Stanbic IBTC Holdings Plc has announced a delay in the release of its 2024 full-year audited financial statements, attributing the postponement to ongoing regulatory approval processes with the Central Bank of Nigeria (CBN). In an official notice addressed to the Nigerian Exchange Limited (NGX) and stakeholders, the […]
LCCI Cautions On NPA’s 15% Tariff Hike, Urges Phased Implementation
The Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns over the Nigerian Ports Authority’s (NPA) recent 15 pr cent increase in port tariffs, warning of the potential economic impact on businesses and inflation. The Chamber has urged the NPA to consider a phased implementation of […]