Hyundai Motor Co and affiliate Kia Corp aim to grow their combined global sales by 2% to 7.39 million vehicles in 2025, after reporting a dip in 2024 sales and missing their targets. The automakers, which together rank third in global vehicle sales, sold 7.23 million vehicles in 2024, […]
Category: Industry
Industry
Guinness Nigeria, Sterling Holding Company, Two Others Exits NGX 30 Index
The Nigerian Exchange Limited (NGX) has unveiled the results of its full-year market index review, leading to significant changes in its NGX 30 Index and other market indices. The updates, effective from (Today) Thursday, January 2, 2025, mark key developments for listed companies across various sectors. Conoil […]
Nigerian Breweries Plc Lists 20.7bn New Shares After Rights Issue
Nigerian Breweries Plc has announced the successful listing of 20,706,894,542 new ordinary shares of 50 Kobo each on the Nigerian Exchange Limited (NGX). This development follows the company’s recently concluded Rights Issue of 22,607,491,232 ordinary shares at N26.50 per share. This was contained in the company’s notice […]
Ardova Plc Agrees Bulk Purchase Framework With Dangote Refinery
Ardova Plc, one of Nigeria’s major integrated downstream oil and gas businesses has agreed to a bulk purchase framework with Dangote Refinery. According to a statement from the company made available to newsmen, this framework will see Ardova Plc offtake a full slate of petroleum products from the […]
Innovation Key to Commodities Development in Nigeria, says SEC DG
The Securities and Exchange Commission has said it is committed to promoting innovation, and fostering collaboration to position commodities exchanges as vital drivers of economic growth, job creation, poverty alleviation and engines of national development. The Director General of the SEC, Dr. Emomotimi Agama, who stated this while speaking […]
Vitafoam To Pay N1. 38bn Dividend As Net Asset Hits N25bn
Vitafoam Nigeria Plc has proposed a dividend of N1.05 per share, amounting to N1.375bn for approval by shareholders at its 63rd Annual General Meeting (AGM), scheduled for 6th March, 2025 in Lagos. The Group’s Net Asset, a performance indicator of corporate growth, rose to N25bn in 2024 from N17bn in […]
Cadbury Loses Royal Warrant After 170 Years
Chocolate maker Cadbury has been dropped from the list of royal warrants for the first time in 170 years. The Birmingham-based chocolatier was awarded its first royal warrant as chocolate and cocoa manufacturers by Queen Victoria in 1854, but it has lost its royal endorsement under King Charles. […]
NAHCO targets group revenue of N300bn by 2029
The Nigerian Aviation Handling Company (NAHCO) Plc is targeting a total group revenue of N300 billion within the next five years. Dr Sola Obabori, the Group Executive Director, International Business & Corporate Services of NAHCO, stated this at the company’s bell ringing and Facts Behind the Figures’ at the Nigerian […]
Oriental Energy Conduct Naming Ceremony For Okwok Field FPSO
Oriental Energy Resources (OERL) announces the naming of the EMEM Floating Production Storage and Offloading Vessel (FPSO) at the Dry Docks World Dubai Shipyard in the United Arab Emirates. The naming ceremony was attended by His Excellency Vice President Kashim Shettima GCON, who represented His Excellency President Bola Ahmed Tinubu […]
Nigerian Breweries Secures SEC Approval For 20.7bn Share Allotment After Rights Issue …..Records 91.59% Subscription Rate
Nigerian Breweries Plc has announced that it has received clearance from the Securities and Exchange Commission (SEC) for the allotment of 20,706,894,542 ordinary shares of 50 Kobo each, priced at N26.50 per share, under its recently concluded Rights Issue. According to the statement, the Rights Issue recorded an impressive […]