Business

Guinness declares N265bn revenue, PAT up 53% to N25.3bn

By Etop Ekanem Guinness Nigeria Plc has reaffirmed its confidence in the strength and future of its business, as the Company enters a new phase of growth underpinned by improved profitability, a significantly stronger balance sheet and continued investment in its brands, manufacturing capabilities and route to market. The company shared this outlook during its […]
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Stanbic IBTC, Zenith, others set to finance state govt projects

Some of the banks have indicated their interest to finance viable state governments’ projects that are expected to impact on the lives of the people. The strategic intermediation role played by financial institutions in society will be further tested in the coming months as some states fine-tunes its developmental agenda to ensure prosperity for residents of their states.

NAHCO invests N1.4bn on infrastructure

The Nigerian Aviation Handling Company (NAHCO) has invested N1.4 billion to upgrade infrastructure and equipment after privatisation ten years ago, its Managing Director, Mr. Nobert Bielderman has said. Bielderman who led a delegation on a visit to the Acting Director-General of the Bureau of Public Enterprises (BPE), Dr. Vincent Onome Akpotaire in Abuja, said that NAHCO was poised to sustain its position as a leading success story of the privatisation and reform programme of the Federal Government.

Economic downturn: Experts task advertisers on budget cut

Advertisers in the country have been advised not to cut down their advertising budget during periods of difficult economic climate. Lampe Omoyele, a brand research and consumerism expert, gave the advice at the maiden edition of Advertisers’ Association of Nigeria, ADVAN Marketers Conference in Lagos. Lampe who is also the Managing Director of The Nielsen West Africa, a brands and marketing research company, urged that brands should not succumb to the pressure of cutting down their marketing budgets despite internal and external economic crunches because they will ultimately make more gains after the dust had settled.

Ad agencies must re-invent to fit into world order- Omojafor

The Group Chairman of STB-McCann, Sir Steve Omojafor has said that advertising agencies must re-invent to fit into the new world order in order tio excell. He made the assertion in a lecture titled, “Nigerian Advertising: ‘Yesterday, Today & Tomorrow”, delivered at the inaugural lecture to mark the 60th anniversary of Rufai Ladipo, a former president of the Association of Advertising Agencies of Nigeria, AAAN.

Arik Air, others to benefit from N4trn Afreximbank loan

Arik Air is one of the airlines been considered to benefit from a $20 billion (about N4 trillion) syndicated loans to be provided by the African Export-Import Bank (Afreximbank). This was disclosed at the Annual Air Finance in Africa summit held in Johannesburg, South Africa,

Umuchinemere MFB disburses N248mn in Q1 2016

Umuchinemere Pro-credit Micro Finance Bank (UPMFB) said it has disbursed N247.72 million micro credit fund to 796 active poor people in Enugu State in the first quarter of 2016. The bank also said that the amount disbursed in the period under review was below its planned budget for disbursement, while attributing it to high cost of living that affected virtually all business activities in the country.

Building on growth – Temel Kotil CEO, Turkish Airlines

Temel Kotil strives to run an efficient airline company. He has been instrumental to the profitability of one of the world’s leading carriers. Turkish Airlines has remained on the cutting edge in the global aviation industry as seen its emergence as ‘’Best airline in Europe” for the fifth consecutive year, based on the rating of Skytrax, an acknowledged name associated with air travel excellence.

‘Over-reliance on oil cause of economic hardship in Nigeria’

In this interview with Dr Alim Abubakre, CEO, These Executive Minds, TEXEM, he talks about the need for visionary and focused leadership, especially in an atmosphere of dwindling resources. Specifically, Dr. Abubakre discusses the coming executive programme being packaged by Alliance Manchester Business School and TEXEM, and why business, political and leaders of thought need to participate.

The tax man goes after corporate defaulters

Eventful. That is the word that captures the last one and a half weeks for the Federal Inland Revenue Service (FIRS). During the period, the FIRS sent out enforcement teams across the country to get companies with tax liabilities to pay. The enforcement came after the FIRS had given a six-week notice to such companies. The notice, however, was ignored.

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