The number of companies listed in the industrial goods sector of the Nigerian Stock Exchange (NSE) will increase very soon as over 100 companies eyeing listing on the exchange, the Chief Executive Officer of the NSE, Mr. Oscar Onyema, has said. There are 27 companies that are currently listed in the industrial goods sector covering building materials, electronic and electrical products, packaging/containers, tools and machinery. The sector contributes 28 per cent to the total market capitalisation of the exchange.
Updated 6 Years ago

From April 25 electricity consumers may pay between N25,000 and N50,000 for pre-paid metres for the single phase and three phase models, respectively, under the new Credited Advance Pay for Metering Implementation, CAPMI, scheme.
Updated 6 Years ago

The Federal Government is enthusiastic about introducing solar system of lightings into the Nigerian educational institutions across the country to reduce the high expenses on the production of alternative power generation in the sector. And the government is already working towards starting this project in the newly established federal universities across the country. Under the new initiative, government plans to encourage the deployment of 24-hour solar lighting systems in the educational sector.
Updated 6 Years ago

Nigeria is said to be on track to join the world’s largest producers of steel in the world from the year 2018, as the country’s potential for iron and steel production is progressively transformed into actual capacity. Chief Executive Officer of African Foundries Limited, Mr. Sanjay Kumar, dropped the hint in Lagos when he announced that the steel giant has concluded plans to ship about 5,000 tonnes of fully-manufactured iron rods to Ghana in what would become their first major export deal.
Updated 6 Years ago

THE interview granted by the General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, to Qatar-based private broadcasting channel, Al Jazeera,stirred a heated debate on social networks on Sunday. In the interview conducted by Al Jazeera’s Mohammed Adow, Adeboye justified his ownership of a private jet, saying it is necessary for efficiency in his assignment.
Updated 6 Years ago

Zenith Bank Plc has emerged the Most Customer-Focused Bank in Nigeria, a survey by KPMG, an audit and tax advisory company, has shown. In its 2013 Banking Industry Customer Satisfaction Survey (BICSS), KPMG ranked Zenith Bank’s best-in-class service delivery topmost in both the retail and corporate banking categories on the basis of a Customer Satisfaction Index (CSI), which took into account key factors like: convenience, product/service offering, transaction methods and systems, pricing and customer care.
Updated 6 Years ago

The Federal Government has restated its commitment to providing more housing units for the masses through the adoption of alternative building technologies. Nigeria is estimated to have a housing deficit of about 17 million units, and according to the Minister of Finance, Dr. Ngozi Okonjo-Iweala, the figure is increasing by two million units yearly.
Updated 6 Years ago

Nigeria’s three tiers of government, federal, state and local governments have concluded arrangements to commence the sale of their jointly-owned thermal power generation companies under the National Integrated Power Projects (NIPPs) in June. To this end, the Niger Delta Power Holding Company (NDPHC), a special purpose company owned by the three tiers of government and saddled with the responsibility of managing the various generation, transmission and distribution projects in the NIPP, has invited prospective investors to express interest in the purchase of the 10 existing thermal generation plants.
Updated 6 Years ago

Global Power Leader Cummins Inc. announced last Friday that it has invested in a joint venture in Nigeria which will design, construct, operate as well as maintain gas fueled power plants. Cummins partners in this new business venture with Gentec, a specialist UK based power plant constructor and operator who have successfully built turnkey and Independent Power Producer (IPP) plants powered by class leading Cummins gas generators in Asia, Europe and Africa.
Updated 6 Years ago

Nigeria and other countries in the Lake Chad basin have begun seeking the assistance of the international community in the funding of the lake $14.5bn water transfer project. Minister of Water Resources, Mrs. Sarah Ochekpe, who stated this at a briefing in Abuja on Friday, said there would be channelisation of water from the Ubangui River in the Central Africa Republic to Lake Chad.
Updated 6 Years ago