Category: Business

GlaxoSmithKline loses N7bn In 6 Months, To Halt Nigerian Operations

Admin

…records over N7bn loss in six months Plans are underway by GlaxoSmithKline (GSK) Nigeria to stop doing business after evaluating the options for moving to a third-party distribution model for its drugs and consumer healthcare goods. In statement on Thursday it said: “For the above reasons, and having, together with GSK UK, evaluated various other options, the Board of GlaxoSmithKline Consumer Nigeria Plc has concluded that there is no alternative but to cease operations.” Shares in GSK Nigeria, in which British drug maker, GSK has a 46.4 per cent stake…

Read More

Nigerian Stowaways Narrate How They Survived On Ship’s Rudder For 14 Days

Admin

Four Nigerian stowaways crossing the Atlantic in a tiny space above the rudder of a cargo ship and rescued by Brazilian police have narrated how they survived the perilous journey. The stowaways narrated how they ran out of food on their tenth day at sea. They survived another four days, according to their account reported on Tuesday by Reuters, by drinking the sea water crashing just meters below them, before being rescued by Brazilian federal police in the southeastern port of Vitoria. Their remarkable, death-defying journey across some 5,600 kilometers…

Read More

Revelation Paints Wins Industry Leadership Award

Admin

The superior quality and unique standing of Nigeria’s foremost paint maker, Revelation Paints Limited, came to public glare again last week as it was adjudged the best in the country and subsequently awarded the winner in Excellence in Paints Manufacturing Leadership Company of the Year 2023. According to the organisers of the award, Excel Africa Excellence in Corporate Enterprise & Leadership Awards 2023, the award categories, which were meticulously screened by experts before arriving at the decision, saw the decorative paint manufacturer beating other premium brand competitors to clinch the…

Read More

NEXIM Partners Fidelity Bank, Sapphital To Grow Nigeria’s Export Sector

JUSTINA EMMANUEL OKPARA

As part of efforts to boost Nigeria’s foreign exchange earnings, the Nigerian Export-Import Bank (NEXIM) has announced a strategic partnership with leading financial institution, Fidelity Bank Plc and Sapphital Learning Ltd. The partnership will help improve the skills and performance of export businesses in Nigeria by leveraging the NEXIM Export Academy (NEXA); an online platform that provides exporters with capacity-building training and access to finance to scale their business. The NEXA platform which was Launched with the support of Sapphital (a digital learning institute) in 2022, is designed to empower…

Read More

Bloomberg: Dangote Reclaims Richest Man In Africa Spot With $15.6bn

Admin

President of Dangote Group, Aliko Dangote remains the richest man in Africa, despite the volatility of Nigerian currency against the dollar. Bloomberg in its daily top billionaire lists, released on Tuesday, revealed that Dangote with a wealth of $15.6 billion topped other Africans in the Index. Dangote, who remains the richest man in Africa for the 12th year running, was the only Nigerian on the list of the top 500 billionaires, as released by Bloomberg. Other Africans listed in the latest top 500 world billionaires list for the year 2023…

Read More

Ned Nwoko: How I Missed Joining Ill-fated Titanic Submersible

Admin

While grieving over his friend and partner, Hamish Harding, a passenger in the ill-fated Titan submersible, Nigerian politician Ned Nwoko, on Friday, revealed that he was invited to join the tour of the famous Titanic Ship wreckage. Mr Harding, a British businessman, explorer, and multiple-Guinness World Record holder, including one for the longest time spent traversing the deepest part of the ocean on a single dive, was one of the five people who died aboard the imploded submersible. The politician took to his verified Instagram handle and explained why he…

Read More

Meet Olu Verheijen, President Tinubu’s Energy Adviser

Admin

President Bola Ahmed Tinubu has appointed Ms. Olu Verheijen as his adviser on the Energy sector, as part of recent appointments in key sectors of the economy. With nearly 20 years of experience, Ms Verheijen brings extensive knowledge and expertise in the oil, gas, power, and renewable energy sectors in sub-Saharan Africa. Her previous roles include serving as a Deal Lead at Shell, where she advised on gas commercialization and participated in multi-billion-dollar mergers and acquisitions transactions. She currently leads Latimer Energy, a consultancy firm specializing in energy sector investment…

Read More

Micro Pension: EFInA Restates Importance For Informal Sector Workers

Admin

…As Contributions Hit N435.61m A major financial inclusion advocate, Enhancing Financial Innovation & Access (EFInA), has restated the need for informal sector practitioners to embrace opportunities in Micro Pension Plan. The advice came on the heels of most informal sector employees’ lack of interest in the scheme set up in 2019 to take care of their welfare after retirement from active work life. This is just as contributions under MPP have peaked at N435.61 million. The gradual input of the scheme to the economy shows that more Nigerians, both in…

Read More

World Environment Day: Egbin Power Plc Charts Path For Environmental Sustainability

JUSTINA EMMANUEL OKPARA

…urges global concerted efforts Deliberate actions designed to further reduce environmental pollution in line with global agenda for sustainability have been outlined by Egbin Power Plc, the largest power generating station in Nigeria, to commemorate World Environment Day 2023, under the theme “Solutions to Plastic Pollution.” The GenCo, while raising awareness about the hazardous impact of pollution on the environment, also called for concerted global efforts among governments, businesses, and individuals towards building a more sustainable world. Speaking during the activities outlined to commemorate this year’s World Environment Day, Chief…

Read More

Children’s Day: Earlybrite CEO, Tubotamuno, Urges Govt. To Partner EdTech Companies

Admin

The Chief Executive Officer (CEO) of Earlybrite, Mr Victor Tubotamuno, on Friday urged the federal government to increase investment in education through strategic partnerships with Education Technology (EdTech) companies in the country. Tubotamuno said this in an interview with the News Agency of Nigeria (NAN) in Lagos ahead of the 2023 Children’s Day celebration on Saturday. Earlybrite is an EdTech company, which Tubotamuno said was committed to revolutionising education and empowering young learners through innovative digital solutions. He noted that technology had the potential to transform schools, hence, the government-EdTech…

Read More