February 3, 2020

President

South Sudan President On A Working Visit To South Africa

February 3, 2020 3:40 pm

The Working Visit will afford President Mayardit an opportunity to pay a courtesy call to President Ramaphosa where they will engage on bilateral and regional issues.

The bilateral relations between the two countries are conducted under the General Cooperation Agreement of 21 September 2011, which entails the following areas of cooperation:

Agriculture/Agri-Business; Water; Education; Infrastructure Development; Transport; Mining; Energy; Electricity; Oil and Gas.

Read Also: Hameed Ali, Discloses Reason Border Reopening Is Delayed

The working visit will also afford the two leaders an opportunity to discuss the progress made thus far in relation to the implementation of the Revitalised-Agreement on …

Coordinator of the Presidential Amnesty Programme (PAP), Prof. Charles Dokub

Buhari Has Done Well for N’Delta, Says Charles Dokubo

February 3, 2020 11:08 am

Coordinator of the Presidential Amnesty Programme (PAP), Prof. Charles Dokubo, at the weekend lauded President Muhammadu Buhari for what he described as his unwavering determination towards deepening peace and development in the Niger Delta region.

Dokubo said Buhari has done well for the people of the oil-rich region, especially with the Amnesty Programme, which he said had trained over 3,000 beneficiaries in less than two years under his (Dokubo) watch from March 2018.

Speaking in Lagos on the sidelines of a ceremony organised by Bradama International Skill Works Limited, a leading construction firm in the oil and gas sector, …

Senate

Senate Puts FG’s Borrowing Request At $22.6bn

February 3, 2020 11:06 am

The Chairman Senate Committee on Finance, Senator Solomon Adeola, has put the federal government’s external loan request before the National Assembly at $22.6 billion and not the $29.96 billion in public domain.

Adeola also said the external loan is tied to the completion of critical projects like the Second Niger Bridge, the East-West Road, Lagos-Ibadan Expressway, Mambila Power project and the Kaduna-Abuja Highway.

He added that the Senate would investigate losses in the name of under-recoveries allegedly being incurred by the Nigerian National Petroleum Corporation (NNPC) in the importation of fuel.

Adeola, told reporters yesterday in Abuja that the …

Manufacturing

Manufacturing: Momentum In Activities Slows In January

February 3, 2020 11:05 am

According to the Purchasing Managers Index (PMI) data released by the Central Bank of Nigeria (CBN) for the month of January, the momentum in the level of activities cooled in both the Manufacturing and Non-manufacturing sectors.

Specifically, the Manufacturing-PMI for the month of January slowed to 57.9 index points (December; 60.8 index points), following broad-based declines in all of the five major indices; Production level ( -2.2), New orders (-1.8), Raw materials/WIP Inventory (-1.7), Supplier delivery time (-1.4) and Employment level (-0.7) used in gauging the manufacturing sector.

The decline reflects the waning momentum that characterizes business activities at the …

President Muhammadu Buhari

Buhari Queries Nanono Over Fertilizer Import Waivers

February 3, 2020 11:03 am

President Muhammadu Buhari has queried the Minister of Agriculture, Alhaji Sabo Nanono, for issuing import wavers to some companies to import fertilizer into the country contrary to the presidential fertilizer initiative policy, which focuses on increasing local production capacity for the product.

The query came through the Chief of Staff to the President, Malam Abba Kyari, requesting explanations on the breach of presidential policy.

Nigeria and Morocco had signed a memorandum of understanding in December 2016 to help the former revive its ailing fertilizer industry through the supply of phosphates for local blending.

The MOU, which was consummated in 2018 …

Hameed Ali

Hameed Ali, Discloses Reason Border Reopening Is Delayed

February 3, 2020 11:02 am

The Nigerian land borders have been shut for about four months and it may be longer, as the Comptroller-General of Nigeria Customs Service, Col. Hameed Ali (retd) said they might not be opened soon.

Ali said Nigeria and the neighbouring countries were still developing strategies to combat the insecurity and smuggling activities in the border areas. It was reported that the conclusion had not been made on the border security involving Nigeria, Benin, Niger and Cameroon.

The Customs boss, Hameed Ali said he believed an agreement would be sealed soon but until then, the closure of the land border would …

Kwara

Kwara To Digitalise Education Management Info System

February 3, 2020 11:01 am

The Kwara Government says it will digitalise Education Management Information System (EMIS) to promote efficiency in the sector.

The state Commissioner for Education and Human Capital Development, Mrs Fatimah Ahmed, disclosed this to the News Agency  of Nigeria  (NAN) on the sidelines of the official presentation of the EMIS organised by the ministry in Ilorin.

Ahmed said the present administration was already going digital especially with the introduction of e-governance and that a good strategy to put education in the limelight was to go on-line real time.

“We want to move away from manual collection of data to digital, a …

Gross Profit vs Net profit

Gross Profit Vs Net Profit: What You Should Know

February 3, 2020 11:00 am

Most business owners understand profitability from a fundamental standpoint. If the revenue from sales covers your expenses, you’re turning a profit. Profits mean positive cash flow. Positive cash flow helps keep your business in operation. However, business owners should look beyond a simple profit naira amount. By calculating and comparing metrics, owners can identify the areas of the business that are working well, and those that need improvement. Get the full scoop on gross profit vs net profit with this guide.

Gross Profit vs Net profit

Before we get into the difference between gross profit and net profit, let’s …

Jaiz Bank

Courteville, Jaiz Bank, Transcorp Lead Gainers’ Chart

February 3, 2020 10:58 am

Courteville Business Solutions, Jaiz Bank, Champion Breweries, Transcorp and Oando made the list of top gainers in the Nigerian Stock Exchange on Friday.

The stock market, however, extended its bearish trend on Friday as the all-share index dipped 0.65% to close at 28,843.53 index points leaving the equity market capitalisation at N14.86 trillion.

Top gainers

Courteville led the gainers with 9.52% to close at N0.23 followed by Jaiz bank, which gained 9.09% to close at N0.72. Champion Breweries recorded 6.59% gain to close at N0.97, Transnational Corporation gained 4.3% to close at N0.97 while Oando gained 2.78% to close …

Konga Travel

Konga Travel Shares Useful Tips For Pregnant Women

February 3, 2020 10:57 am

Konga Travel and Tours, the travel agency arm of Konga, has shared some important tips for pregnant women and intending mothers willing to travel to another country for the purpose of giving birth.

In a knowledge-sharing piece circulated to its customer base, Konga Travel emphasized the importance of women choosing the right time to travel as it is crucial in averting complications in pregnancy which may harm the mother and unborn child. It said that the best time to travel during pregnancy is between week 14 and week 28.

 

The company made known that the first trimester and the …

Sterling Bank

Sterling Bank: Impressive Growth In Profit Despite OPEX

February 3, 2020 10:56 am

Sterling Bank (Sterling) released its FY 2019 UNAUDITED report, with Gross Earnings coming in flat at ₦149.5bn, in line with our estimate of ₦149.5bn. Supported largely by moderation in Interest Expense (down 11% y/y) and growth in Net Fee and Commission Income (up 24% y/y), Pre-tax Profit grew 15% y/y to ₦10.9bn, significantly ahead of our estimate of 8.3bn.

The better than expected growth in Pre-tax Profit was due to the low-Interest Expense and higher than expected Net Trading Income (N5.1bn vs CSL Forecast of N2.6bn). EPS rose to N0.38 in FY 2019 (vs CSL Forecast of N0.27 and FY …

Insecurity

NASS Leadership To Meet Buhari Over Insecurity

February 3, 2020 6:15 am

The call for the sack of service chiefs, over the growing insecurity in the country, may be far from over, as leaders of the two chambers of the National Assembly have resolved to meet President Muhammadu Buhari this week on the issue.

Daily Sun gathered that the proposed meeting between Buhari, and the legislators will be led by the President of the Senate, Ahmad Lawan. It is meant to prevail on the president to yield to public pressure to retune security strategise and the personnel manning them.

Last Wednesday, the House of Representatives passed a resolution, calling on the President …

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