This is official. Lagos is not the only state in Nigeria that has been hit by the deadly Ebola Virus Disease; Enugu has become the next in line. Twenty one persons out of the 198 so far quarantined because of the virus are in Enugu, says the Minister of Information, Labaran Maku.
Updated 6 Years ago

Enugu State Deputy Governor, Mr. Sunday Onyebuchi, on Wednesday slumped while testifying before the panel of enquiry that is investigating impeachable allegations levelled against him by the state House of Assembly. The deputy governor had testified for about three hours in his own defence when he suddenly complained of dizziness and collapsed into his seat.
Updated 6 Years ago

A High Court sitting in Osogbo has ordered the Commission of Enquiry on Disturbance of Public Peace set up by Governor Rauf Aregbesola to put on hold the investigation of Senator Iyiola Omisore. The Chairman of CEDPP, Justice Moshood Adeigbe, said at the resumed hearing of the panel in Osogbo on Wednesday that the panel had received an interim order from the court stopping it from probing Omisore, pending the ruling on the application filed by him before the court.
Updated 6 Years ago

The All Progressives Grand Alliance says it will not support President Goodluck Jonathan’s second term ambition except the Peoples Democratic Party agrees to leave all elective positions in the South-East for APGA. The Chairman of the Lagos State chapter of the party, Mr. Campbell Umehnzekwe, who is also the Senior Special Assistant to the National Chairman of the party, Chief Victor Umeh, said this on Monday while reacting to the defection of six APGA lawmakers to the PDP.
Updated 6 Years ago

Nigerite Limited, Nigeria’s premier building solutions provider, has explained that its partnership with Lagos State government on enterprise development is motivated by the need to encourage skill acquisition and capacity building. The company believes that for the world to survive the level of unemployment among youths, especially in sub-Saharan Africa, those youths must be developed into entrepreneurs and business creators as against job seekers, adding that this is further reason for the partnership.
Updated 6 Years ago

Fast moving consumable goods company, Dangote Sugar Refinery (DSR), has had its first half (H1) revenues decline on gas supply shortage, analysts say. For the first six months of the year, the company’s revenue fell by 9.86 percent to N49.60 billion, from N55.03 billion the same period of the corresponding year (HY) 2013. The decline in sales is explained by a plant upgrade that lasted two weeks in May, according to FBN Capital, in a note released on August 7.
Updated 6 Years ago

In what could be termed a leap forward for the real estate business in particular and the real sector of the Nigerian economy in general, Dangote Cement plc says from this August it will add 6 million tons (MTs) of cement per annum (pa) from its newly built lines C and D at Obese plant to the cement market. With this, the Nigerian cement market will get 12MTs pa of cement from Dangote Ibese Cement factory only, equivalent to about 24 million bags of 42.5R cement type.
Updated 6 Years ago

Emerging-market stocks rose a third day amid bets China and South Korea will take steps to support growth. The Ibovespa sank as Brazilian presidential candidate Eduardo Campos was killed in a plane crash. The Shanghai Composite Index erased losses as investors weighed prospects for stimulus after disappointing economic data and the Kospi Index jumped 1 per cent in Seoul. OAO Gazprom and OAO Lukoil led a rally in Russia as the lowest valuations among emerging markets attracted investors. The Ibovespa fell as much as 2.1 per cent.
Updated 6 Years ago

The Nigerian Stock Exchange has pledged that it will protect the rights of investors to dividends in line with one of its core strategic pillars for enhanced market performance and growth via sustaining a “strong investor protection” framework. In doing this, the NSE said it would not hesitate to enforce a five per cent sanction on any issuer that failed to pay dividends to its shareholders within the time specified in the resolution passed by the shareholders at the annual general meeting at which such dividends were declared.
Updated 6 Years ago

Losses by 31 equities including highly capitalised companies such as Dangote Cement Plc and Access Bank Plc on Wednesday led the major market indicators lower. Skye Shelter Fund led the losers with a five per cent or N4.75 decline, which saw it close at 90.25.
Updated 6 Years ago