Thursday, January 28, 2021
Q3: Flour Mills of Nigeria Grows Profit by 90% to N16bn
Nigeria’s integrated food business and agro-allied group, Flour Mills of Nigeria Plc, has continued its strong performance, growing its profit after tax (PAT) for the third quarter ended December 2020/21 by 91 per cent. The Group posted a revenue of N555.342 billion in Q3, up from N423.479 billion in the corresponding period of 2019/20. Read more
MTN Supports African Union’s COVID-19 Vaccines Programme with $25m
MTN has announced a donation of $25 million to support the African Union’s COVID-19 vaccination programme. The donation will help secure up to seven million doses of the COVID-19 vaccine for health workers across the continent, which will contribute to the vaccination initiative of the Africa Centres for Disease Control and Prevention (Africa CDC). Read more
AXA HMO introduces initiatives to curb COVID-19
AXA Mansard Health Limited, a health management organisation, says it has deployed technology to attain operational excellence to deliver and overcome challenges facing Nigeria’s health insurance industry. It said this in a statement on Wednesday titled ‘Insurer champions new initiatives to curb spread of COVID-19’. The firm said the announcement was made at its virtual yearly HR conference tagged ‘Winning the pandemic battle together’. Read more
Indigenous oil operators keen on expansion amid downturn
While they are still smarting from the impact of the COVID-19-induced collapse in oil prices and demand, indigenous firms in the country are poised to increase their participation in the nation’s oil and gas industry. The Nigerian oil and gas industry has in the past two decades seen a surge in the number of indigenous players, buoyed by the Federal Government’s initiatives and divestment of assets by International Oil Companies operating in the country. Read more
Flour Mills floats bond on FMDQ
FMDQ Securities Exchange Limited has approved the listing of the Flour Mills of Nigeria Plc’s N4.89bn Series 4 tranche A and N25bn Series 4 tranche B Fixed Rate Bonds under its N70bn Bond Issuance Programme on its platform. Read more
Nigeria generated N2.9tn from VAT, CIT last year
Nigeria generated a total of N2.94 trillion in income from value-added tax (VAT) and company income tax (CIT) last year, data released by the National Bureau of Statistics (NBS), have revealed. The figure is about 10 per cent higher than the N2.68 billion recorded the previous year. Read more
Investors’ wealth soar by N440 billion in three trading days
Transactions on the floor of the Nigerian Stock Exchange (NSE) sustained a current rally for the third consecutive day, as more blue-chip stocks joined the league of gainers, causing investors wealth to soar by N440 billion in three trading days. Read more
