October 2023

FMN Records 33% Revenue Growth In Q2

Flour Mills of Nigeria (FMN) Plc has reported strong revenue growth of 33% year-on-year, reaching N508.3 billion in the second quarter (Q2) ending on September 30, 2023. This was revealed in the company’s unaudited results for the reviewed period, released on the Nigerian Exchange Limited. According to the company, it recorded a gross profit growth …

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‘Market-based Regime To Accelerate Gas Sector Development In Africa’

Sahara Group, has urged African governments and regulators to adopt market-based regimes to stimulate the sustainable development of gas across the continent. The company noted that appropriate pricing of the commodity will enhance investment, increase production and consumption growth. It also called for the inclusion of investors in gas policy development frameworks as part of …

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Foreign Aqautic Species, Threat To Blue Economy –NIMASA

The transportation of harmful non-indigenous Invasive Aquatic Species (IAS), also known as, biofouling, poses a huge threat to Nigeria’s transition to Blue Economy, the Nigerian Maritime Administration and Safety Agency (NIMASA), on Monday said. Speaking at the opening ceremony of the 3- day workshop on the transfer of environmentally sound technologies (Test Biofouling), project for …

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4000 Vessels, 72,000 Seafarers Visit Nigerian Ports Annually – NPA

The Nigerian Ports Authority (NPA), has disclosed that 4000 ocean going vessels visit the nation’s seaports annually. Speaking in Lagos, at the commissioning of the Mission to Seafarers (MTS) centre in Lagos, the managing director of NPA, Mohammed Bello-Koko, said a minimum of 6,000 Seafarers visit the country’s seaports every month. LEADERSHIP reports that with …

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$403bn Commodities Market: Assetium Positions To Boost Nigeria’s GDP

With the total size of the commodities market in Nigeria projected to reach US$402.90 billion in 2023, Assetium Capital Management Limited, a commodities firm, is positioning to reshape and invigorate Nigeria’s dynamic commodities sector, which has consistently played a pivotal role in contributing to country’s GDP. With over N300 billion capital base, the company said …

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Fidelity Bank Boosts Nigeria’s Non-oil Exports With FITCC Houston

The much-anticipated second edition of the Fidelity International Trade and Creative Connect (FITCC) got off to a boisterous start on Tuesday, 24 October 2023 as leading financial institution -Fidelity Bank Plc -hosted a broad range of businesses, regulators, members of the diplomatic corps and other guests to the opening ceremony in Houston, Texas, United States …

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Tinubu Urged To Stop Reversal Of Oil, Gas Pre-Shipment Contract Award

A rights group, promoting openness in the oil and gas sector, Transparency Alliance Network, has appealed to President Bola Tinubu to avert moves by some interests in the Presidency to subvert the concluded bidding process to engage consultants for the Pre-Shipment Inspection Agents (PIAs) and Monitoring/Evaluation Agents (MEAs) under Nigerian Export Supervision Scheme (NESS) in …

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Lafarge Africa Pioneers Green Mobility In Africa

Lafarge Africa Plc, has announced a significant milestone in its sustainability journey with the launch of an Electric Vehicle (EV) truck into its supply chain fleet. Speaking at the launch of the EV Truck at the company’s Ewekoro factory, GMD/CEO, Lafarge Africa Plc, Lolu Alade-Akinyemi said, “today, as we gather here, we mark yet another …

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AfDB, Partners Vote Fresh $1bn To Fund Nigeria’s SAPZs In 24 States

It was yet another bountiful harvest for the President Bola Ahmed Tinubu administration in its investment drive, as the African Development Bank (AfDB), Islamic Development Bank (IDB) and the International Fund for Agricultural Development hinted on Thursday that they have voted $1 billion to further deliver special agro-industrial processing zones in 24 States of Nigeria. …

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