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  •   The Nigerian stock market resumed trading on Wednesday after the Christmas holidays with a loss of Naira 238 billion due to profit taking In particular the market capitalization that opened at N22 060 billion lost N238 billion or 1 08 percent to close at N21 822 billion In addition the All Share Index advanced 455 75 points or 1 08 percent lower to close at 41 807 10 compared to 42 262 85 reached on Friday Consequently the month to date loss increased to 3 3 percent while the year to date gain moderated to 3 8 percent The market resumed its commercial activities after the public holidays of December 27 and 28 declared by the government to commemorate the celebration of Christmas and Saint Stephen The negative performance of the market was due to the large and mid cap stocks which are BUA Cement MTN Nigeria Communications MTNN PZ Cussons May Baker and Ecobank Transnational Incorporated Market sentiment was slightly positive with 17 winners relative to 16 losers BUA Cement led the losers chart penny to close at N67 05 a share May Baker followed with a fall of 9 98 percent to close at N4 06 while PZ Cussons lost 8 96 percent to close at N6 10 per share Jaiz Bank was down 8 06 percent to close at 57k while UPDC Real Estate Investment Trust lost 6 25 percent to close at N3 75 a share By contrast Union Bank of Nigeria boosted the winners chart in percentage terms by 9 91 percent to close at N6 10 per share Royal Exchange followed with 9 09 percent to close at 84 000 while Sovereign Trust Insurance rose 7 69 percent to close at 28 000 a share Livestock Feeds rose 6 86 to close at N2 18 while Caverton Offshore Support Group appreciated 2 99 to close at N1 72 per share However the total volume traded increased by 61 10 percent with an exchange of 180 182 million units valued at N1 48 billion exchanged in 3 828 deals This contrasts with 111 84 million shares worth N911 92 million traded in 2 072 transactions on Friday Transactions with Jaiz Bank shares topped the activity chart with 17 65 million shares valued at N10 53 million Union Bank followed with 16 80 million shares worth N101 83 million while UACN traded 12 88 million shares valued at N123 52 million Transcorp sold 11 39 million shares worth N11 25 million while Sovereign Trust Insurance transacted 9 99 million shares valued at N2 78 million Source NAN
    NGX resumes after Christmas break with N238bn loss
      The Nigerian stock market resumed trading on Wednesday after the Christmas holidays with a loss of Naira 238 billion due to profit taking In particular the market capitalization that opened at N22 060 billion lost N238 billion or 1 08 percent to close at N21 822 billion In addition the All Share Index advanced 455 75 points or 1 08 percent lower to close at 41 807 10 compared to 42 262 85 reached on Friday Consequently the month to date loss increased to 3 3 percent while the year to date gain moderated to 3 8 percent The market resumed its commercial activities after the public holidays of December 27 and 28 declared by the government to commemorate the celebration of Christmas and Saint Stephen The negative performance of the market was due to the large and mid cap stocks which are BUA Cement MTN Nigeria Communications MTNN PZ Cussons May Baker and Ecobank Transnational Incorporated Market sentiment was slightly positive with 17 winners relative to 16 losers BUA Cement led the losers chart penny to close at N67 05 a share May Baker followed with a fall of 9 98 percent to close at N4 06 while PZ Cussons lost 8 96 percent to close at N6 10 per share Jaiz Bank was down 8 06 percent to close at 57k while UPDC Real Estate Investment Trust lost 6 25 percent to close at N3 75 a share By contrast Union Bank of Nigeria boosted the winners chart in percentage terms by 9 91 percent to close at N6 10 per share Royal Exchange followed with 9 09 percent to close at 84 000 while Sovereign Trust Insurance rose 7 69 percent to close at 28 000 a share Livestock Feeds rose 6 86 to close at N2 18 while Caverton Offshore Support Group appreciated 2 99 to close at N1 72 per share However the total volume traded increased by 61 10 percent with an exchange of 180 182 million units valued at N1 48 billion exchanged in 3 828 deals This contrasts with 111 84 million shares worth N911 92 million traded in 2 072 transactions on Friday Transactions with Jaiz Bank shares topped the activity chart with 17 65 million shares valued at N10 53 million Union Bank followed with 16 80 million shares worth N101 83 million while UACN traded 12 88 million shares valued at N123 52 million Transcorp sold 11 39 million shares worth N11 25 million while Sovereign Trust Insurance transacted 9 99 million shares valued at N2 78 million Source NAN
    NGX resumes after Christmas break with N238bn loss
    Economy11 months ago

    NGX resumes after Christmas break with N238bn loss

    The Nigerian stock market resumed trading on Wednesday after the Christmas holidays with a loss of Naira 238 billion due to profit taking.

    In particular, the market capitalization that opened at N22.060 billion lost N238 billion or 1.08 percent to close at N21.822 billion.

    In addition, the All-Share Index advanced 455.75 points or 1.08 percent lower to close at 41,807.10 compared to 42,262.85 reached on Friday.

    Consequently, the month-to-date loss increased to 3.3 percent, while the year-to-date gain moderated to 3.8 percent.

    The market resumed its commercial activities after the public holidays of December 27 and 28, declared by the government to commemorate the celebration of Christmas and Saint Stephen.

    The negative performance of the market was due to the large and mid-cap stocks which are: BUA Cement, MTN Nigeria Communications (MTNN), PZ Cussons, May & Baker and Ecobank Transnational Incorporated.

    Market sentiment was slightly positive with 17 winners relative to 16 losers.

    BUA Cement led the losers' chart penny to close at N67.05 a share.

    May & Baker followed with a fall of 9.98 percent to close at N4.06, while PZ Cussons lost 8.96 percent to close at N6.10 per share.

    Jaiz Bank was down 8.06 percent to close at 57k, while UPDC Real Estate Investment Trust lost 6.25 percent to close at N3.75 a share.

    By contrast, Union Bank of Nigeria boosted the winners chart in percentage terms by 9.91 percent to close at N6.10 per share.

    Royal Exchange followed with 9.09 percent to close at 84,000, while Sovereign Trust Insurance rose 7.69 percent to close at 28,000 a share.

    Livestock Feeds rose 6.86% to close at N2.18, while Caverton Offshore Support Group appreciated 2.99% to close at N1.72 per share.

    However, the total volume traded increased by 61.10 percent with an exchange of 180,182 million units valued at N1.48 billion exchanged in 3,828 deals.

    This contrasts with 111.84 million shares worth N911.92 million traded in 2,072 transactions on Friday.

    Transactions with Jaiz Bank shares topped the activity chart with 17.65 million shares valued at N10.53 million.

    Union Bank followed with 16.80 million shares worth N101.83 million, while UACN traded 12.88 million shares valued at N123.52 million.

    Transcorp sold 11.39 million shares worth N11.25 million, while Sovereign Trust Insurance transacted 9.99 million shares valued at N2.78 million.

    Source: NAN

  •   The Nigerian stock market resumed trading on Wednesday after the Christmas holidays with a loss of Naira 238 billion due to profit taking Specifically the market capitalization that opened at N22 060 billion lost N238 billion or 1 08 percent to close at N21 822 billion In addition the All Share Index advanced 455 75 points or 1 08 percent lower to close at 41 807 10 compared to 42 262 85 reached on Friday Consequently the month to date loss increased to 3 3 percent while the year to date gain moderated to 3 8 percent The market resumed its commercial activities after the public holidays of December 27 and 28 declared by the federal government on the occasion of the celebration of Christmas and Saint Stephen The negative market performance was driven by price depreciation in large and mid cap stocks that are BUA Cement MTN Nigeria Communications MTNN PZ Cussons May amp Baker and Ecobank Transnational Incorporated Market sentiment was slightly positive with 17 winners relative to 16 losers BUA Cement led the losers chart by 10 percent to close at N67 05 a share May amp Baker followed with a fall of 9 98 percent to close at N4 06 while PZ Cussons lost 8 96 percent to close at N6 10 per share Jaiz Bank was down 8 06 percent to close at 57k while UPDC Real Estate Investment Trust lost 6 25 percent to close at N3 75 a share By contrast Union Bank of Nigeria boosted the winners chart in percentage terms by 9 91 percent to close at N6 10 per share Royal Exchange followed with 9 09 percent to close at 84 000 while Sovereign Trust Insurance rose 7 69 percent to close at 28 000 a share Livestock Feeds rose 6 86 to close at N2 18 while Caverton Offshore Support Group appreciated 2 99 to close at N1 72 per share However the total volume traded increased by 61 10 percent with an exchange of 180 182 million units valued at N1 48 billion exchanged in 3 828 deals This contrasts with 111 84 million shares worth N911 92 million traded in 2 072 transactions on Friday Transactions with Jaiz Bank shares topped the activity chart with 17 65 million shares valued at N10 53 million Union Bank followed with 16 80 million shares worth N101 83 million while UACN traded 12 88 million shares valued at N123 52 million Transcorp sold 11 39 million shares worth N11 25 million while Sovereign Trust Insurance transacted 9 99 million shares valued at N2 78 million YAYA
    Nigerian stock exchange resumes after Christmas break with N238bn loss
      The Nigerian stock market resumed trading on Wednesday after the Christmas holidays with a loss of Naira 238 billion due to profit taking Specifically the market capitalization that opened at N22 060 billion lost N238 billion or 1 08 percent to close at N21 822 billion In addition the All Share Index advanced 455 75 points or 1 08 percent lower to close at 41 807 10 compared to 42 262 85 reached on Friday Consequently the month to date loss increased to 3 3 percent while the year to date gain moderated to 3 8 percent The market resumed its commercial activities after the public holidays of December 27 and 28 declared by the federal government on the occasion of the celebration of Christmas and Saint Stephen The negative market performance was driven by price depreciation in large and mid cap stocks that are BUA Cement MTN Nigeria Communications MTNN PZ Cussons May amp Baker and Ecobank Transnational Incorporated Market sentiment was slightly positive with 17 winners relative to 16 losers BUA Cement led the losers chart by 10 percent to close at N67 05 a share May amp Baker followed with a fall of 9 98 percent to close at N4 06 while PZ Cussons lost 8 96 percent to close at N6 10 per share Jaiz Bank was down 8 06 percent to close at 57k while UPDC Real Estate Investment Trust lost 6 25 percent to close at N3 75 a share By contrast Union Bank of Nigeria boosted the winners chart in percentage terms by 9 91 percent to close at N6 10 per share Royal Exchange followed with 9 09 percent to close at 84 000 while Sovereign Trust Insurance rose 7 69 percent to close at 28 000 a share Livestock Feeds rose 6 86 to close at N2 18 while Caverton Offshore Support Group appreciated 2 99 to close at N1 72 per share However the total volume traded increased by 61 10 percent with an exchange of 180 182 million units valued at N1 48 billion exchanged in 3 828 deals This contrasts with 111 84 million shares worth N911 92 million traded in 2 072 transactions on Friday Transactions with Jaiz Bank shares topped the activity chart with 17 65 million shares valued at N10 53 million Union Bank followed with 16 80 million shares worth N101 83 million while UACN traded 12 88 million shares valued at N123 52 million Transcorp sold 11 39 million shares worth N11 25 million while Sovereign Trust Insurance transacted 9 99 million shares valued at N2 78 million YAYA
    Nigerian stock exchange resumes after Christmas break with N238bn loss
    Headlines11 months ago

    Nigerian stock exchange resumes after Christmas break with N238bn loss

    The Nigerian stock market resumed trading on Wednesday after the Christmas holidays with a loss of Naira 238 billion due to profit taking.

    Specifically, the market capitalization that opened at N22.060 billion lost N238 billion or 1.08 percent to close at N21.822 billion.

    In addition, the All-Share Index advanced 455.75 points or 1.08 percent lower to close at 41,807.10 compared to 42,262.85 reached on Friday.

    Consequently, the month-to-date loss increased to 3.3 percent, while the year-to-date gain moderated to 3.8 percent.

    The market resumed its commercial activities after the public holidays of December 27 and 28 declared by the federal government on the occasion of the celebration of Christmas and Saint Stephen.

    The negative market performance was driven by price depreciation in large and mid-cap stocks that are: BUA Cement, MTN Nigeria Communications (MTNN), PZ Cussons, May & Baker and Ecobank Transnational Incorporated.

    Market sentiment was slightly positive with 17 winners relative to 16 losers.

    BUA Cement led the losers chart by 10 percent to close at N67.05 a share.

    May & Baker followed with a fall of 9.98 percent to close at N4.06, while PZ Cussons lost 8.96 percent to close at N6.10 per share.

    Jaiz Bank was down 8.06 percent to close at 57k, while UPDC Real Estate Investment Trust lost 6.25 percent to close at N3.75 a share.

    By contrast, Union Bank of Nigeria boosted the winners chart in percentage terms by 9.91 percent to close at N6.10 per share.

    Royal Exchange followed with 9.09 percent to close at 84,000, while Sovereign Trust Insurance rose 7.69 percent to close at 28,000 a share.

    Livestock Feeds rose 6.86% to close at N2.18, while Caverton Offshore Support Group appreciated 2.99% to close at N1.72 per share.

    However, the total volume traded increased by 61.10 percent with an exchange of 180,182 million units valued at N1.48 billion exchanged in 3,828 deals.

    This contrasts with 111.84 million shares worth N911.92 million traded in 2,072 transactions on Friday.

    Transactions with Jaiz Bank shares topped the activity chart with 17.65 million shares valued at N10.53 million.

    Union Bank followed with 16.80 million shares worth N101.83 million, while UACN traded 12.88 million shares valued at N123.52 million.

    Transcorp sold 11.39 million shares worth N11.25 million, while Sovereign Trust Insurance transacted 9.99 million shares valued at N2.78 million.

    YAYA

  •   Lintex emerged as the President s Cup winner at the 2021 Nigerian National Polo Tournament after beating Keffi Ponys 9 3 in the final of the tournament s highest and most coveted trophy The Nigerian News Agency reports that the final game of five chukkas and high goals was a one sided affair from start to finish Bashir Bashir arguably the MVP of the game scored a total of five goals with Abdulmalik Badamasi grabbing a double Isa Kwame and captain Jamilu Mohammed each scored a goal to complete Lintex s win This makes me feel very good that all our efforts and training as a team have paid off It was about teamwork coordination and determination We look forward to working harder in the next edition of the tournament to ensure we successfully defend our title said Lintex captain Mohammed Hon Keffi Ponys led by Ahmed Wadada managed to score three consolation goals through Wadada himself as well as Aliyu Tijjani and Argentina s Ferdo Munaz to cap off a miserable night for Keffi s team Nasiru Dano Chairman of the Board of Directors of the Guards Polo Club Nigerian Army Polo Resort presents the winners trophy to Lintex winners of the President s Cup at the 2021 Nigerian National Polo Tournament on Sunday in Abuja In other matches also played on Sunday Dokaji Farms defeated Malcomines de Jos 11 1 to lift the Legislative Shield while the Nigerian Army defeated BUA Nasriya 4 2 to emerge Unity Cup winners In the polo game the pony does about 80 percent of the work So it s also about the mounts and the players The score could have been worse if I had played with my team but unfortunately I suffered some injuries and had to watch my team s spectacular performance from the sidelines Overall it has been an interesting and exciting experience throughout this tournament and I think Guards Polo Club is gradually taking the lead in the game in Nigeria and indeed in Africa Guards Polo Club is the club to beat anywhere in Nigeria emphasized Dokaji Farms patron Senator Haliru Dauda Jika who is also the tournament director Additionally Haske Williams defeated Sikka Spa with half goals to win the FCT Minister s Cup while Wu Bassey Barracks defeated Niger Barracks 5 4 to win the COAS Cup ASI edged Alhusuna 6 5 to win the Guards Challenge trophy The tournament that took place on November 20 came to an end on Sunday at the Guards Polo Club Nigeria Polo Resort Asokoro Source NAN
    2021 Nigeria National Polo Tourney: Lintex emerge winners of President’s Cup
      Lintex emerged as the President s Cup winner at the 2021 Nigerian National Polo Tournament after beating Keffi Ponys 9 3 in the final of the tournament s highest and most coveted trophy The Nigerian News Agency reports that the final game of five chukkas and high goals was a one sided affair from start to finish Bashir Bashir arguably the MVP of the game scored a total of five goals with Abdulmalik Badamasi grabbing a double Isa Kwame and captain Jamilu Mohammed each scored a goal to complete Lintex s win This makes me feel very good that all our efforts and training as a team have paid off It was about teamwork coordination and determination We look forward to working harder in the next edition of the tournament to ensure we successfully defend our title said Lintex captain Mohammed Hon Keffi Ponys led by Ahmed Wadada managed to score three consolation goals through Wadada himself as well as Aliyu Tijjani and Argentina s Ferdo Munaz to cap off a miserable night for Keffi s team Nasiru Dano Chairman of the Board of Directors of the Guards Polo Club Nigerian Army Polo Resort presents the winners trophy to Lintex winners of the President s Cup at the 2021 Nigerian National Polo Tournament on Sunday in Abuja In other matches also played on Sunday Dokaji Farms defeated Malcomines de Jos 11 1 to lift the Legislative Shield while the Nigerian Army defeated BUA Nasriya 4 2 to emerge Unity Cup winners In the polo game the pony does about 80 percent of the work So it s also about the mounts and the players The score could have been worse if I had played with my team but unfortunately I suffered some injuries and had to watch my team s spectacular performance from the sidelines Overall it has been an interesting and exciting experience throughout this tournament and I think Guards Polo Club is gradually taking the lead in the game in Nigeria and indeed in Africa Guards Polo Club is the club to beat anywhere in Nigeria emphasized Dokaji Farms patron Senator Haliru Dauda Jika who is also the tournament director Additionally Haske Williams defeated Sikka Spa with half goals to win the FCT Minister s Cup while Wu Bassey Barracks defeated Niger Barracks 5 4 to win the COAS Cup ASI edged Alhusuna 6 5 to win the Guards Challenge trophy The tournament that took place on November 20 came to an end on Sunday at the Guards Polo Club Nigeria Polo Resort Asokoro Source NAN
    2021 Nigeria National Polo Tourney: Lintex emerge winners of President’s Cup
    General news1 year ago

    2021 Nigeria National Polo Tourney: Lintex emerge winners of President’s Cup

    Lintex emerged as the President's Cup winner at the 2021 Nigerian National Polo Tournament after beating Keffi Ponys 9-3 in the final of the tournament's highest and most coveted trophy.

    The Nigerian News Agency reports that the final game of five chukkas and high goals was a one-sided affair from start to finish.

    Bashir Bashir, arguably the MVP of the game, scored a total of five goals with Abdulmalik Badamasi grabbing a double.

    Isa Kwame and captain Jamilu Mohammed each scored a goal to complete Lintex's win.

    “This makes me feel very good that all our efforts and training as a team have paid off. It was about teamwork, coordination, and determination.

    "We look forward to working harder in the next edition of the tournament to ensure we successfully defend our title," said Lintex captain Mohammed.

    Hon. Keffi Ponys, led by Ahmed Wadada, managed to score three consolation goals through Wadada himself, as well as Aliyu Tijjani and Argentina's Ferdo Munaz to cap off a miserable night for Keffi's team.

    Nasiru Dano, Chairman of the Board of Directors of the Guards Polo Club-Nigerian Army Polo Resort, presents the winners trophy to Lintex, winners of the President's Cup at the 2021 Nigerian National Polo Tournament on Sunday in Abuja.

    In other matches, also played on Sunday, Dokaji Farms defeated Malcomines de Jos 11-1 to lift the Legislative Shield, while the Nigerian Army defeated BUA / Nasriya 4-2 to emerge Unity Cup winners.

    “In the polo game, the pony does about 80 percent of the work. So it's also about the mounts and the players.

    “The score could have been worse if I had played with my team, but unfortunately I suffered some injuries and had to watch my team's spectacular performance from the sidelines.

    “Overall it has been an interesting and exciting experience throughout this tournament and I think Guards Polo Club is gradually taking the lead in the game in Nigeria and indeed in Africa.

    “Guards Polo Club is the club to beat anywhere in Nigeria, emphasized Dokaji Farms patron Senator Haliru Dauda-Jika, who is also the tournament director.

    Additionally, Haske & Williams defeated Sikka Spa with half goals to win the FCT Minister's Cup, while Wu Bassey Barracks defeated Niger Barracks 5-4 to win the COAS Cup.

    ASI edged Alhusuna 6-5 to win the Guards Challenge trophy.

    The tournament that took place on November 20 came to an end on Sunday at the Guards Polo Club - Nigeria Polo Resort, Asokoro.

    Source: NAN

  •   Vice President Yemi Osinbajo said Tuesday that the Federal Government is committed to preparing the nation s youth for the challenges of leading the country in the future Osinbajo said this would be achieved through various leadership training initiatives from the public and private sectors The vice president said this Tuesday in Lagos at the 2021 Annual Directors Conference The theme of the conference was Creating the Future Deepening the Practice of Corporate Governance through Multisectoral and Multigenerational Collaborations The Vice President was represented at the event by the Chief of Public Service Folashade Yemi Esan Mr Osinbajo said that the theme of the conference was commendable because it awakens the awakening of the inevitability of succession among young people He said available data showed that the majority of the workforce was between the ages of 20 and 39 creating a need for young people to prepare for succession and collaboration across sectors This administration has created commendable initiatives like Build Your Brand the Next GEN an intergenerational mentoring and networking program with both initiatives promoted by the Federal Ministry of Youth and Sports We also have the Lead P that serves to identify and train officers within the public service to improve their leadership potential The Not Too Young To Run Bill signed by President Muhammadu Buhari also complements efforts to facilitate the promotion and emergence of young people to filled positions the vice president said According to him these and other initiatives aim to engage younger generations to give them the necessary exposure to assume leadership positions in the future Dr Ije Jidenma President of IoD said the topic underscores the importance of corporate governance practices in the public and private sectors of the economy for inclusive economic growth and development Jidenma said the conference will focus on the importance of engaging new generation directors young entrepreneurs and the public sector in seeking to deepen corporate governance good leadership and best practices IoD Nigeria s annual directors conference is the Institute s flagship event attended by captains of industry and directors from the public and private sectors of the Nigerian economy It is a forum where contemporary issues affecting corporate governance and leadership in Nigeria are global best practice solutions and x rays provided by corporate governance practitioners and professionals IoD Nigeria aims to deepen strong corporate governance and best business practices in all sectors of the economy he said BUA Group President AbdulSamad Rabiu said the conference talks about the importance of collaboration across generations and sectors ensuring greater chances of business survival It is instructive to observe that young people transform 60 percent of the workforce and this is a clear case for incorporating them Their passion drive and ability to do more has seen them create industries But there are still gaps in corporate governance and business sustainability and I am from the firm and I believe that the older generation can share ideas to help them be successful We must partner with the public sector to help shape regulations and policies that would create better business sustainability he said YAYA
    We are preparing young Nigerians for leadership roles – Osinbajo
      Vice President Yemi Osinbajo said Tuesday that the Federal Government is committed to preparing the nation s youth for the challenges of leading the country in the future Osinbajo said this would be achieved through various leadership training initiatives from the public and private sectors The vice president said this Tuesday in Lagos at the 2021 Annual Directors Conference The theme of the conference was Creating the Future Deepening the Practice of Corporate Governance through Multisectoral and Multigenerational Collaborations The Vice President was represented at the event by the Chief of Public Service Folashade Yemi Esan Mr Osinbajo said that the theme of the conference was commendable because it awakens the awakening of the inevitability of succession among young people He said available data showed that the majority of the workforce was between the ages of 20 and 39 creating a need for young people to prepare for succession and collaboration across sectors This administration has created commendable initiatives like Build Your Brand the Next GEN an intergenerational mentoring and networking program with both initiatives promoted by the Federal Ministry of Youth and Sports We also have the Lead P that serves to identify and train officers within the public service to improve their leadership potential The Not Too Young To Run Bill signed by President Muhammadu Buhari also complements efforts to facilitate the promotion and emergence of young people to filled positions the vice president said According to him these and other initiatives aim to engage younger generations to give them the necessary exposure to assume leadership positions in the future Dr Ije Jidenma President of IoD said the topic underscores the importance of corporate governance practices in the public and private sectors of the economy for inclusive economic growth and development Jidenma said the conference will focus on the importance of engaging new generation directors young entrepreneurs and the public sector in seeking to deepen corporate governance good leadership and best practices IoD Nigeria s annual directors conference is the Institute s flagship event attended by captains of industry and directors from the public and private sectors of the Nigerian economy It is a forum where contemporary issues affecting corporate governance and leadership in Nigeria are global best practice solutions and x rays provided by corporate governance practitioners and professionals IoD Nigeria aims to deepen strong corporate governance and best business practices in all sectors of the economy he said BUA Group President AbdulSamad Rabiu said the conference talks about the importance of collaboration across generations and sectors ensuring greater chances of business survival It is instructive to observe that young people transform 60 percent of the workforce and this is a clear case for incorporating them Their passion drive and ability to do more has seen them create industries But there are still gaps in corporate governance and business sustainability and I am from the firm and I believe that the older generation can share ideas to help them be successful We must partner with the public sector to help shape regulations and policies that would create better business sustainability he said YAYA
    We are preparing young Nigerians for leadership roles – Osinbajo
    Headlines1 year ago

    We are preparing young Nigerians for leadership roles – Osinbajo

    Vice President Yemi Osinbajo said Tuesday that the Federal Government is committed to preparing the nation's youth for the challenges of leading the country in the future.

    Osinbajo said this would be achieved through various leadership training initiatives from the public and private sectors.

    The vice president said this Tuesday in Lagos at the 2021 Annual Directors Conference.

    The theme of the conference was: "Creating the Future: Deepening the Practice of Corporate Governance through Multisectoral and Multigenerational Collaborations".

    The Vice President was represented at the event by the Chief of Public Service, Folashade Yemi-Esan.

    Mr. Osinbajo said that the theme of the conference was commendable because it awakens the awakening of the inevitability of succession among young people.

    He said available data showed that the majority of the workforce was between the ages of 20 and 39, creating a need for young people to prepare for succession and collaboration across sectors.

    “This administration has created commendable initiatives like Build Your Brand, the Next GEN; an intergenerational mentoring and networking program with both initiatives promoted by the Federal Ministry of Youth and Sports.

    “We also have the Lead P that serves to identify and train officers within the public service to improve their leadership potential.

    "The Not Too Young To Run Bill, signed by President Muhammadu Buhari, also complements efforts to facilitate the promotion and emergence of young people to filled positions," the vice president said.

    According to him, these and other initiatives aim to engage younger generations to give them the necessary exposure to assume leadership positions in the future.

    Dr. Ije Jidenma, President of IoD, said the topic underscores the importance of corporate governance practices in the public and private sectors of the economy for inclusive economic growth and development.

    Jidenma said the conference will focus on the importance of engaging new generation directors, young entrepreneurs and the public sector in seeking to deepen corporate governance, good leadership and best practices.

    “IoD Nigeria's annual directors conference is the Institute's flagship event, attended by captains of industry and directors from the public and private sectors of the Nigerian economy.

    “It is a forum where contemporary issues affecting corporate governance and leadership in Nigeria are global best practice solutions and x-rays provided by corporate governance practitioners and professionals.

    "IoD Nigeria aims to deepen strong corporate governance and best business practices in all sectors of the economy," he said.

    BUA Group President AbdulSamad Rabiu said the conference talks about the importance of collaboration across generations and sectors, ensuring greater chances of business survival.

    “It is instructive to observe that young people transform 60 percent of the workforce and this is a clear case for incorporating them.

    “Their passion, drive and ability to do more has seen them create industries.

    “But there are still gaps in corporate governance and business sustainability and I am from the firm and I believe that the older generation can share ideas to help them be successful.

    "We must partner with the public sector to help shape regulations and policies that would create better business sustainability," he said.

    YAYA

  •   The Abdul Samad Rabiu Africa Initiative ASR Africa an brainchild of Abdul Samad Rabiu founder executive chairman of the BUA group donated and handed over a newly constructed 150 bed hospital to the Nigerian police in Abuja The hospital which is the first of its kind to the Nigerian police is called ASR Africa Police National Reference Hospital Abuja and was developed at a cost of N4 billion with funding from the annual fund 100 million ASR Africa for development and social renewal Speaking during the physical handover of the hospital building to Inspector General of Police Usman Alkali Baba the boss of the BUA said the hospital project was designed with the aim of providing better health services and facilities to security guards in the country The ASR Africa Police Hospital will bring quality health care closer to people who protect lives and property in the country as well as other Nigerians who will also be able to use the facility he added In his comments upon receiving the original certificate of occupancy from the representatives of ASR Africa the police chief praised the philanthropic work of the founder of the BUA group Abdul Samad Rabiu Mr Baba mentioned that the ASR Africa National Police Hospital was designed completed and built to standards in record time without a hitch We are truly grateful to ASR Africa and Alhaji Abdul Samad Rabiu for this one of a kind donation from a mega hospital to the police It is heartwarming to know that there are patriotic individuals like Alhaji Abdul Samad Rabiu who are genuinely interested in providing support to the thousands of police officers women and their families through initiatives like this a he added Also speaking on the activities of the ASR Africa Initiative Ubon Udoh Managing Director Managing Director of ASR Africa said that various grants have been awarded to educational institutions health institutions governments as well as as non governmental organizations as part of ASR Africa s contributions to sustainable development in Africa When ASR Africa started we set aside 100 million per year for various interventions in the areas of health education and social development In nine months we have shown how passionate we are about social impact and development especially in the areas of health care delivery education social development and sustainable infrastructure across the countries and Africa He said ASR was established in April 2021 to provide sustainable and impact based local solutions to development issues affecting health education and social development in Africa
    AbdulSamad Rabiu builds N4billion hospital for Nigeria police
      The Abdul Samad Rabiu Africa Initiative ASR Africa an brainchild of Abdul Samad Rabiu founder executive chairman of the BUA group donated and handed over a newly constructed 150 bed hospital to the Nigerian police in Abuja The hospital which is the first of its kind to the Nigerian police is called ASR Africa Police National Reference Hospital Abuja and was developed at a cost of N4 billion with funding from the annual fund 100 million ASR Africa for development and social renewal Speaking during the physical handover of the hospital building to Inspector General of Police Usman Alkali Baba the boss of the BUA said the hospital project was designed with the aim of providing better health services and facilities to security guards in the country The ASR Africa Police Hospital will bring quality health care closer to people who protect lives and property in the country as well as other Nigerians who will also be able to use the facility he added In his comments upon receiving the original certificate of occupancy from the representatives of ASR Africa the police chief praised the philanthropic work of the founder of the BUA group Abdul Samad Rabiu Mr Baba mentioned that the ASR Africa National Police Hospital was designed completed and built to standards in record time without a hitch We are truly grateful to ASR Africa and Alhaji Abdul Samad Rabiu for this one of a kind donation from a mega hospital to the police It is heartwarming to know that there are patriotic individuals like Alhaji Abdul Samad Rabiu who are genuinely interested in providing support to the thousands of police officers women and their families through initiatives like this a he added Also speaking on the activities of the ASR Africa Initiative Ubon Udoh Managing Director Managing Director of ASR Africa said that various grants have been awarded to educational institutions health institutions governments as well as as non governmental organizations as part of ASR Africa s contributions to sustainable development in Africa When ASR Africa started we set aside 100 million per year for various interventions in the areas of health education and social development In nine months we have shown how passionate we are about social impact and development especially in the areas of health care delivery education social development and sustainable infrastructure across the countries and Africa He said ASR was established in April 2021 to provide sustainable and impact based local solutions to development issues affecting health education and social development in Africa
    AbdulSamad Rabiu builds N4billion hospital for Nigeria police
    Headlines1 year ago

    AbdulSamad Rabiu builds N4billion hospital for Nigeria police

    The Abdul Samad Rabiu Africa Initiative, ASR Africa, an brainchild of Abdul Samad Rabiu, founder / executive chairman of the BUA group, donated and handed over a newly constructed 150 bed hospital to the Nigerian police in Abuja.

    The hospital, which is the first of its kind to the Nigerian police, is called "ASR Africa Police National Reference Hospital, Abuja" and was developed at a cost of N4 billion with funding from the annual fund. $ 100 million ASR Africa. for development and social renewal.

    Speaking during the physical handover of the hospital building to Inspector General of Police Usman Alkali Baba, the boss of the BUA said the hospital project was designed with the aim of providing better health services and facilities to security guards in the country.

    "The ASR Africa Police Hospital will bring quality health care closer to people who protect lives and property in the country as well as other Nigerians who will also be able to use the facility," he added.

    In his comments upon receiving the original certificate of occupancy from the representatives of ASR Africa, the police chief praised the philanthropic work of the founder of the BUA group, Abdul Samad Rabiu.

    Mr. Baba mentioned that the ASR Africa National Police Hospital was designed, completed and built to standards in record time without a hitch.

    “We are truly grateful to ASR Africa and Alhaji Abdul Samad Rabiu for this one-of-a-kind donation from a mega hospital to the police. It is heartwarming to know that there are patriotic individuals like Alhaji Abdul Samad Rabiu who are genuinely interested in providing support to the thousands of police officers, women and their families through initiatives like this ”, a- he added.

    Also speaking on the activities of the ASR Africa Initiative, Ubon Udoh, Managing Director / Managing Director of ASR Africa, said that various grants have been awarded to educational institutions, health institutions, governments as well as as non-governmental organizations as part of ASR Africa's contributions to sustainable development in Africa.

    “When ASR Africa started, we set aside $ 100 million per year for various interventions in the areas of health, education and social development. In nine months, we have shown how passionate we are about social impact and development, especially in the areas of health care delivery, education, social development and sustainable infrastructure across the countries and Africa.

    He said ASR was established in April 2021 to provide sustainable and impact-based local solutions to development issues affecting health, education and social development in Africa.

  •  Abdul Samad Rabiu Chairman and CEO of BUA Group said it is cheaper to transport a container from China to Lagos than from Lagos to Kano Daily Trust reported According to the report Mr Rabiu said this in Paris while commenting on the huge opportunities of the Nigerian transport system especially the rail sector Mr Rabiu said investing in transformation especially the rail system will unveil huge opportunities for the country and investors The BUA boss praised the Buhari administration s investment in rail infrastructure across the country However he urged global financiers and private investors to invest in the rail sector He said that with large arable land in Nigeria there are opportunities in commercial agriculture as well as mining and manufacturing According to him Nigeria relies on billions of tons of different mineral resources including limestone for which his company is well known in the production of cement Nigeria is based on 45 billion tonnes of limestone and currently all of the country s cement plants together produce 30 million tonnes of cement per day We are able to produce for local consumption and also for export One of my factories in Sokoto exports cement to the Republic of Niger which is about 120 km from the factory as well as to Ouagadougou Burkina Faso about 400 km from Sokoto Nigeria is one of twelve countries in the world with significant deposits of iron ore gas and coal but unfortunately the country imports steel We spend 2 5 billion a year to import steel into Nigeria With 2 5 billion we should be able to build a factory capable of producing 1 5 to 2 million tonnes of steel per year
    It’s cheaper to transport container from China to Lagos than Lagos to Kano, says BUA boss
     Abdul Samad Rabiu Chairman and CEO of BUA Group said it is cheaper to transport a container from China to Lagos than from Lagos to Kano Daily Trust reported According to the report Mr Rabiu said this in Paris while commenting on the huge opportunities of the Nigerian transport system especially the rail sector Mr Rabiu said investing in transformation especially the rail system will unveil huge opportunities for the country and investors The BUA boss praised the Buhari administration s investment in rail infrastructure across the country However he urged global financiers and private investors to invest in the rail sector He said that with large arable land in Nigeria there are opportunities in commercial agriculture as well as mining and manufacturing According to him Nigeria relies on billions of tons of different mineral resources including limestone for which his company is well known in the production of cement Nigeria is based on 45 billion tonnes of limestone and currently all of the country s cement plants together produce 30 million tonnes of cement per day We are able to produce for local consumption and also for export One of my factories in Sokoto exports cement to the Republic of Niger which is about 120 km from the factory as well as to Ouagadougou Burkina Faso about 400 km from Sokoto Nigeria is one of twelve countries in the world with significant deposits of iron ore gas and coal but unfortunately the country imports steel We spend 2 5 billion a year to import steel into Nigeria With 2 5 billion we should be able to build a factory capable of producing 1 5 to 2 million tonnes of steel per year
    It’s cheaper to transport container from China to Lagos than Lagos to Kano, says BUA boss
    Headlines1 year ago

    It’s cheaper to transport container from China to Lagos than Lagos to Kano, says BUA boss

    Abdul-Samad Rabiu, Chairman and CEO of BUA Group, said it is cheaper to transport a container from China to Lagos than from Lagos to Kano, Daily Trust reported.

    According to the report, Mr. Rabiu said this in Paris while commenting on the huge opportunities of the Nigerian transport system, especially the rail sector.

    Mr. Rabiu said investing in transformation, especially the rail system, will unveil huge opportunities for the country and investors.

    The BUA boss praised the Buhari administration's investment in rail infrastructure across the country.

    However, he urged global financiers and private investors to invest in the rail sector.

    He said that with large arable land in Nigeria, there are opportunities in commercial agriculture as well as mining and manufacturing.

    According to him, Nigeria relies on billions of tons of different mineral resources, including limestone for which his company is well known in the production of cement.

    “Nigeria is based on 45 billion tonnes of limestone and currently all of the country's cement plants together produce 30 million tonnes of cement per day.

    “We are able to produce for local consumption and also for export.

    “One of my factories in Sokoto exports cement to the Republic of Niger, which is about 120 km from the factory, as well as to Ouagadougou, Burkina Faso, about 400 km from Sokoto.

    “Nigeria is one of twelve countries in the world with significant deposits of iron ore, gas and coal, but unfortunately the country imports steel.

    “We spend $ 2.5 billion a year to import steel into Nigeria.

    "With $ 2.5 billion, we should be able to build a factory capable of producing 1.5 to 2 million tonnes of steel per year."

  •   The transformed NNPC under the leadership of Malam Mele Kyari joined the league of other patriotic entities to build renovate roads based on Executive Decree No 007 on the Tax Credit Program for Investment in the development and renovation of road infrastructure 2019 The objectives of the plan are 1 Support the Federal Government of Nigeria FGN in providing adequate public infrastructure for all citizens and encourage the free mobility of people goods and services throughout the country promote national integration and protect rights of citizens to engage in legitimate activities economic activities linked to the production distribution and exchange of wealth goods and services 2 Assist the FGN in harnessing Nigeria s resources promoting national prosperity and an efficient vibrant and self reliant economy and managing and operating the road transport sector as well as major sectors of the economy 3 Support the FGN to ensure that its Road Transport Infrastructure Policies are oriented towards the promotion of a planned and balanced economic development so that the material resources of the nation are exploited and distributed in the best possible way serve the common good good 4 Guarantee the participants full and timely recovery of funds allocated for the construction or repair of eligible road infrastructure projects in the manner prescribed in the Executive Decree The National Oil Company NOC which reported N287 2 billion in after tax profits in 2020 and is on track to make more profits under the Petroleum Industry Act PIA is ready to support government initiatives on public private partnership intervention by providing funds for the construction renovation of road infrastructure projects in Nigeria Prior to that NOC provided the intervention required for the supply of 50 megawatts of electricity via liquefied natural gas LNG powered turbines as part of the Maiduguri power project The NNPC has received Federal Executive Council FEC approval to construct 21 roads covering a total distance of 1 804 6 kilometers through the six geopolitical zones under the Infrastructure Tax Credit program Some program participants include 1 Dangote Cement Plc Granting of a tax credit certificate worth 22 3 billion naira for the construction of the Apapa Oworonshoki Ojota road in Lagos and the Lokoja Obajana Kabba road connecting Kogi and Kwara States 2 MTN granting of tax credits for the construction of the 110 km Enugu Onitsha road in Anambra state 3 Transcorp Group granting of a tax credit for the construction of the Oyinbo Izuoma Mirinwayi Oklama Afam road 4 Access Bank granting of tax credits for the construction of the Oniru axis of the VI Lekki traffic road in Lagos State 5 GZI Industries granting of tax credits for the construction of the road to the village of Umueme State of Abia 6 Mainstreet Energy granting of tax credits for the construction of the Malando Garin Baka Ngwaski road 7 The BUA granting of tax credits for the construction of the Bode Saadu Lafiagi road and the Eyinkorin road and bridge 8 Nigeria LNG Limited granting of tax credits for the construction of the Bodo Bonny bridges and road 9 The Dangote group granting of tax credits for the construction of the Obajana Kabba road The main reason for the NNPC s intervention in road infrastructure is to facilitate the efficient distribution of petroleum products across the country According to the dispatches nine 9 of the twenty one 21 proposed routes are in the Center North in particular the State of Niger which has a strategic storage of products which serves Abuja and its surroundings The others are Ilorin Jebba Mokwa Bokani sections I and II Suleja Minna sections I and II Bida Lambatta Katcha Baro road and Mokwa Makera Tegina Kaduna Three routes are offered in the North East two in the North West two in the South East three in the South South To the southwest the proposed routes are the Lagos Badagry highway the Ibadan to Ilorin in the Oyo Ogbumosho section In the South East the main roads proposed are Aba Ikot Ekpene in the states of Abia and Akwa Ibom the Umuahia road to Ikwuano to Ikot Ekpene In the northwest it is the Gada Zaima Zuru Gamji road and also the Zaria Funtua Gusau Sokoto road To the northeast it is the Cham Bali Serti and Gombe Biu road In response to the global energy transition and decarbonization NNPC has become Nigeria s leading energy company with investments in gas and renewable energy As the company moves to the PIA landscape on the path to profitability this 621 billion naira infrastructure intervention is yet another demonstration of NOC s support for government development initiatives Mr Sanyi Sanyi writes from Abuja
    Rationalizing NNPC’s N621bn boost to road infrastructure, by Ibrahim Sanyi-Sanyi
      The transformed NNPC under the leadership of Malam Mele Kyari joined the league of other patriotic entities to build renovate roads based on Executive Decree No 007 on the Tax Credit Program for Investment in the development and renovation of road infrastructure 2019 The objectives of the plan are 1 Support the Federal Government of Nigeria FGN in providing adequate public infrastructure for all citizens and encourage the free mobility of people goods and services throughout the country promote national integration and protect rights of citizens to engage in legitimate activities economic activities linked to the production distribution and exchange of wealth goods and services 2 Assist the FGN in harnessing Nigeria s resources promoting national prosperity and an efficient vibrant and self reliant economy and managing and operating the road transport sector as well as major sectors of the economy 3 Support the FGN to ensure that its Road Transport Infrastructure Policies are oriented towards the promotion of a planned and balanced economic development so that the material resources of the nation are exploited and distributed in the best possible way serve the common good good 4 Guarantee the participants full and timely recovery of funds allocated for the construction or repair of eligible road infrastructure projects in the manner prescribed in the Executive Decree The National Oil Company NOC which reported N287 2 billion in after tax profits in 2020 and is on track to make more profits under the Petroleum Industry Act PIA is ready to support government initiatives on public private partnership intervention by providing funds for the construction renovation of road infrastructure projects in Nigeria Prior to that NOC provided the intervention required for the supply of 50 megawatts of electricity via liquefied natural gas LNG powered turbines as part of the Maiduguri power project The NNPC has received Federal Executive Council FEC approval to construct 21 roads covering a total distance of 1 804 6 kilometers through the six geopolitical zones under the Infrastructure Tax Credit program Some program participants include 1 Dangote Cement Plc Granting of a tax credit certificate worth 22 3 billion naira for the construction of the Apapa Oworonshoki Ojota road in Lagos and the Lokoja Obajana Kabba road connecting Kogi and Kwara States 2 MTN granting of tax credits for the construction of the 110 km Enugu Onitsha road in Anambra state 3 Transcorp Group granting of a tax credit for the construction of the Oyinbo Izuoma Mirinwayi Oklama Afam road 4 Access Bank granting of tax credits for the construction of the Oniru axis of the VI Lekki traffic road in Lagos State 5 GZI Industries granting of tax credits for the construction of the road to the village of Umueme State of Abia 6 Mainstreet Energy granting of tax credits for the construction of the Malando Garin Baka Ngwaski road 7 The BUA granting of tax credits for the construction of the Bode Saadu Lafiagi road and the Eyinkorin road and bridge 8 Nigeria LNG Limited granting of tax credits for the construction of the Bodo Bonny bridges and road 9 The Dangote group granting of tax credits for the construction of the Obajana Kabba road The main reason for the NNPC s intervention in road infrastructure is to facilitate the efficient distribution of petroleum products across the country According to the dispatches nine 9 of the twenty one 21 proposed routes are in the Center North in particular the State of Niger which has a strategic storage of products which serves Abuja and its surroundings The others are Ilorin Jebba Mokwa Bokani sections I and II Suleja Minna sections I and II Bida Lambatta Katcha Baro road and Mokwa Makera Tegina Kaduna Three routes are offered in the North East two in the North West two in the South East three in the South South To the southwest the proposed routes are the Lagos Badagry highway the Ibadan to Ilorin in the Oyo Ogbumosho section In the South East the main roads proposed are Aba Ikot Ekpene in the states of Abia and Akwa Ibom the Umuahia road to Ikwuano to Ikot Ekpene In the northwest it is the Gada Zaima Zuru Gamji road and also the Zaria Funtua Gusau Sokoto road To the northeast it is the Cham Bali Serti and Gombe Biu road In response to the global energy transition and decarbonization NNPC has become Nigeria s leading energy company with investments in gas and renewable energy As the company moves to the PIA landscape on the path to profitability this 621 billion naira infrastructure intervention is yet another demonstration of NOC s support for government development initiatives Mr Sanyi Sanyi writes from Abuja
    Rationalizing NNPC’s N621bn boost to road infrastructure, by Ibrahim Sanyi-Sanyi
    Headlines1 year ago

    Rationalizing NNPC’s N621bn boost to road infrastructure, by Ibrahim Sanyi-Sanyi

    The transformed NNPC under the leadership of Malam Mele Kyari joined the league of other patriotic entities to build / renovate roads based on Executive Decree No.007 on the Tax Credit Program for Investment in the development and renovation of road infrastructure 2019.

    The objectives of the plan are:

    1. Support the Federal Government of Nigeria (FGN) in providing adequate public infrastructure for all citizens and encourage the free mobility of people, goods and services throughout the country, promote national integration and protect rights of citizens to engage in legitimate activities. economic activities linked to the production, distribution and exchange of wealth, goods and services.

    2. Assist the FGN in harnessing Nigeria's resources, promoting national prosperity and an efficient, vibrant and self-reliant economy, and managing and operating the road transport sector, as well as major sectors of the economy.

    3. Support the FGN to ensure that its Road Transport Infrastructure Policies are oriented towards the promotion of a planned and balanced economic development, so that the material resources of the nation are exploited and distributed in the best possible way. serve the common good good.

    4. Guarantee the participants full and timely recovery of funds allocated for the construction or repair of eligible road infrastructure projects in the manner prescribed in the Executive Decree.

    The National Oil Company (NOC), which reported N287.2 billion in after-tax profits in 2020 and is on track to make more profits under the Petroleum Industry Act (PIA), is ready to support government initiatives on public-private partnership. intervention by providing funds for the construction / renovation of road infrastructure projects in Nigeria.

    Prior to that, NOC provided the intervention required for the supply of 50 megawatts of electricity via liquefied natural gas (LNG) powered turbines as part of the Maiduguri power project.

    The NNPC has received Federal Executive Council (FEC) approval to construct 21 roads covering a total distance of 1,804.6 kilometers through the six geopolitical zones under the Infrastructure Tax Credit program.

    Some program participants include:

    1. Dangote Cement Plc: Granting of a tax credit certificate worth 22.3 billion naira for the construction of the Apapa-Oworonshoki-Ojota road in Lagos and the Lokoja-Obajana-Kabba road connecting Kogi and Kwara States

    2. MTN: granting of tax credits for the construction of the 110 km Enugu-Onitsha road in Anambra state

    3. Transcorp Group: granting of a tax credit for the construction of the Oyinbo-Izuoma-Mirinwayi-Oklama-Afam road

    4. Access Bank: granting of tax credits for the construction of the Oniru axis of the VI-Lekki traffic road in Lagos State

    5. GZI Industries: granting of tax credits for the construction of the road to the village of Umueme, State of Abia.

    6. Mainstreet Energy: granting of tax credits for the construction of the Malando-Garin Baka-Ngwaski road

    7. The BUA: granting of tax credits for the construction of the Bode-Saadu-Lafiagi road and the Eyinkorin road and bridge

    8. Nigeria LNG Limited: granting of tax credits for the construction of the Bodo-Bonny bridges and road

    9. The Dangote group: granting of tax credits for the construction of the Obajana-Kabba road

    The main reason for the NNPC's intervention in road infrastructure is to facilitate the efficient distribution of petroleum products across the country. According to the dispatches, nine (9) of the twenty-one (21) proposed routes are in the Center-North, in particular the State of Niger which has a strategic storage of products which serves Abuja and its surroundings. The others are: Ilorin-Jebba-Mokwa-Bokani sections I and II, Suleja-Minna sections I and II, Bida-Lambatta, Katcha-Baro road and Mokwa-Makera-Tegina-Kaduna.

    Three routes are offered in the North-East, two in the North-West, two in the South-East, three in the South-South.

    To the southwest, the proposed routes are: the Lagos-Badagry highway, the Ibadan to Ilorin in the Oyo-Ogbumosho section.

    In the South-East, the main roads proposed are: Aba-Ikot Ekpene in the states of Abia and Akwa Ibom, the Umuahia road to Ikwuano to Ikot Ekpene.

    In the northwest, it is the Gada-Zaima-Zuru-Gamji road and also the Zaria-Funtua-Gusau-Sokoto road.

    To the northeast, it is the Cham-Bali-Serti and Gombe-Biu road.

    In response to the global energy transition and decarbonization, NNPC has become Nigeria's leading energy company with investments in gas and renewable energy. As the company moves to the PIA landscape on the path to profitability, this 621 billion naira infrastructure intervention is yet another demonstration of NOC's support for government development initiatives.

    Mr. Sanyi-Sanyi writes from Abuja

  •   BUA Cement Plc posted profit before tax PBT of 74 33 billion naira for the third quarter ended September 30 This was included in the company s unaudited financial statements released Tuesday by the Nigerian exchange NGX Ltd The result was signed by the general manager of the company Engr Binji Yusuf and the CFO Mr Jacques Piekarski According to the financial statement the PBT represented a growth of 25 53 from the 59 21 billion naira achieved in the corresponding period of 2020 In addition the company s after tax profit rose to 65 91 billion naira from 53 49 billion naira in 2020 an increase of 23 22 Its revenue was 186 91 billion naira compared to 156 55 billion naira recorded in the comparative period of 2020 indicating an increase of 19 39 In addition gross profit increased to 87 25 compared to N70 26 billion recorded in the comparative period of 2020 On a related note operating profit stood at N75 69 billion compared to N62 28 billion recorded in the same period of 2020 NOPE
    BUA Cement generates N74.33bn profit in 9 months
      BUA Cement Plc posted profit before tax PBT of 74 33 billion naira for the third quarter ended September 30 This was included in the company s unaudited financial statements released Tuesday by the Nigerian exchange NGX Ltd The result was signed by the general manager of the company Engr Binji Yusuf and the CFO Mr Jacques Piekarski According to the financial statement the PBT represented a growth of 25 53 from the 59 21 billion naira achieved in the corresponding period of 2020 In addition the company s after tax profit rose to 65 91 billion naira from 53 49 billion naira in 2020 an increase of 23 22 Its revenue was 186 91 billion naira compared to 156 55 billion naira recorded in the comparative period of 2020 indicating an increase of 19 39 In addition gross profit increased to 87 25 compared to N70 26 billion recorded in the comparative period of 2020 On a related note operating profit stood at N75 69 billion compared to N62 28 billion recorded in the same period of 2020 NOPE
    BUA Cement generates N74.33bn profit in 9 months
    Headlines1 year ago

    BUA Cement generates N74.33bn profit in 9 months

    BUA Cement Plc posted profit before tax, PBT, of 74.33 billion naira for the third quarter ended September 30.

    This was included in the company's unaudited financial statements released Tuesday by the Nigerian exchange, NGX, Ltd.

    The result was signed by the general manager of the company, Engr. Binji Yusuf and the CFO, Mr. Jacques Piekarski.

    According to the financial statement, the PBT represented a growth of 25.53% from the 59.21 billion naira achieved in the corresponding period of 2020.

    In addition, the company's after-tax profit rose to 65.91 billion naira from 53.49 billion naira in 2020, an increase of 23.22%.

    Its revenue was 186.91 billion naira compared to 156.55 billion naira recorded in the comparative period of 2020, indicating an increase of 19.39%.

    In addition, gross profit increased to 87.25%, compared to N70.26 billion recorded in the comparative period of 2020.

    On a related note, operating profit stood at N75.69 billion compared to N62.28 billion recorded in the same period of 2020.

    NOPE

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