A group, Tonwei Refinery Limited, announced yesterday that it has secured approval to set up a 30,000 barrel per day (bpd) capacity petroleum refinery at Ovia South-West Local Government Area of Edo State. The group’s Chief Executive…
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While its operations in India deteriorated, underlining local pressures, African operations across Nigeria and 13 other countries continued to improve. In Africa, Bharti Airtel’s profit expanded to ₹698.70 crore ($104.4 million) for the quarter ended March 2018…
The managing director, Atlantique Marine and Engineering Services Limited (AMES), Charles Akhigbe, has said that the company, in collaboration with UDECM Incorporated, United States of America, has concluded arrangement to construct a $150 million pipe plant in…
Tyre dealers under the aegis of Association of Tyre Marketers on Thursday inaugurated a N2bn Africa Tyre Village at the International Trade Fair Complex, Lagos. Described as the biggest in West Africa, the tyre village made up…
The Federal government’s N90 billion bond auction for April netted total subscription of N262.48 billion, representing 292 per cent subscrip-tion rate, the Debt Management Office ( DMO) said yesterday. Three bonds – 5, 7 and 10 year…
On the back of assurances of adequate support infrastructure by the Edo State government, Atlantique Marine & Engineering Services Ltd (AMES) said it has concluded plans to work with the state government to construct a 250,000 tons-per-annum…
A modular refinery, currently under construction in Kwale, Delta State, is expected to come on stream in the third quarter of this year. The refinery, which is being promoted by Pillar Oil Limited, Omsa Limited and Astek…
FBN Holdings Plc wednesday announced its results for the full year ended December 31, 2017, showing a growth of 179 per cent in profit after tax (PAT) to N47.8 billion, up from N17.1 billion in 2016. In…
Dangote Cement Plc has posted 29.09 percent increase in profit after tax for the first quarter ended March 31, 2018. The company’s financials released on the floor of the Nigerian Stock Exchange (NSE) indicated that the group…
The National Action Plan 3.0 (NAP 3.0) by the federal government aimed at improving the business climate in the country through its ease of doing business initiative has achieved a 68 percent success rate. NAP 3.0, the…
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