Oando Plc, one of Africa’s largest integrated energy solution providers has earmarked over N100 million this year to empower Nigerian mechanics on modern vehicle repairs and effective handling of automobiles. To effectively discharge this responsibility to 50,000 mechanics nationwide in an ongoing basis, the company has entered into partnership with Automedics, which has the competence to train the mechanics on various aspects of technical auto work.
Updated 6 Years ago

Stakeholders in the trade and industry sectors have raised concerns over government’s plan to privatise the Bank of Industry (BoI) and the Bank of Agriculture (BoA), stating that the move will erode the purposes for which they were first established. The Federal Government recently indicated plans to privatise these two key development institutions in order to make more funds available and give room for increased efficiency. But in a communiqué signed after a council meeting at the Lagos Chamber of Commerce and Industry (LCCI), the chamber says privatising the two major Development Finance Institutions {DFIs} will make them profit-oriented rather than development institutions as private individuals are poised to seek profits at the expense of the supposed beneficiaries.
Updated 6 Years ago

Honeywell Flour Mills plc recorded a 21 percent growth in its turnover of N55.08 billion for its fiscal year, April 1, 2013, to March 31, 2014, up from N46 billion in the last fiscal year. This result was indicated in its end of year report recently presented to the Nigerian Stock Exchange (NSE). Profit after tax (PAT) also climbed 18 percent from N2.8 billion to N3.5 billion, which translated to an 18 percent increase in Earnings Per Share (EPS) from 35.86 kobo to 42.26 kobo.
Updated 6 Years ago

Underwriting firm, Guinea Insurance (GI) plc, has reiterated the company’s total commitment to consolidate and strategically grow its market share through decisive long-term investment and customer engagement initiatives. Boasting of the support of its people factor, the company stated it made of skilled professionals in the business of underwriting, an edge it believe places it in strong position for market competitiveness.
Updated 6 Years ago

Nowadays, residents of Abuja cover their noses and mouths at the sight of the city’s garbage trucks. Their poor attitude to waste disposal is making the residents uncomfortable. “The garbage truck drivers and the people working with them are not doing a good job when collecting the refuse,” said Muhammed Ibrahim, a cabby in Abuja metropolis. “We the waste everywhere as move around because the garbage trucks are not doing a better job.” True, students of environmental studies in the department of environmental management of Malaysia’s leading research institution, the Universiti Putra Malaysia in a 2013 research on the status of municipal waste management in Nigeria’s federal capital city, Abuja noted that municipal solid waste management constitutes one of the most crucial health and environmental problems that Abuja have to contend with.
Updated 6 Years ago

PZ Cussons Nigeria Plc and Honeywell Flour Mills Plc have proposed to pay their shareholders dividends for their financial years ended May 31, 2014 and March 31, 2014, respectively. PZ Cussons Nigeria plans to pay its shareholders a final dividend of 61 kobo per share for the last financial year.
Updated 6 Years ago

The country will get 30 per cent of the $7bn that the United States earmarked last year to boost energy in Africa, the Federal Government has revealed. This means Nigeria will get $2.1bn from the Power Africa initiative once the US commences its implementation.
Updated 6 Years ago

No fewer than 106 relatives of the passengers who lost their lives in the ill-fated Dana aircraft that crashed on June 3, 2012 have received insurance claims totalling $5.05m (N821m), according to the lead underwriter of the airline. The Managing Director, Prestige Assurance Plc, Mr. Anand Mittal, disclosed this to our correspondent in an exclusive interview in Lagos on Monday.
Updated 6 Years ago

The Accountant-General of the Federation, Mr. Jonah Otunla, on Tuesday said the introduction of the Integrated Personnel and Payroll Information System in the public sector had saved the Federal Government N160bn in personnel costs. The IPPIS is one of the Federal Government’s reform initiatives. The IPPIS facilitates planning, aids budgeting, monitors monthly payment of staff emoluments against what is provided for in the budget; and ensures updating and retrieval of personnel records for administrative and pension processes.
Updated 6 Years ago

The Speaker of the House of Representatives, Hon. Aminu Tambuwal was in Abeokuta, Ogun State yesterday to hold a closed-door meeting with former President Olusegun Obasanjo, fueling speculation that he had started consultations on his rumoured quest to contest for the 2015 presidential election. This is Tambuwal’s second visit to the former president within a space of five months. Tambuwal, who met the former leader at his Hilltop GRA residence yesterday held a 20-minute closed-door meeting, however, refused to open up on what was discussed between both men.
Updated 6 Years ago