FrieslandCampina Proposes N4.73 as Final Dividend

By Dipo Olowookere The International Monetary Fund (IMF) has said Nigeria’s revenue–to-gross domestic product (GDP) ratio of about 9 per cent was too low to trigger the economic growth projected by President Bola Tinubu in his Renewed Hope Agenda. Addressing journalists at its last press briefing for 2023 on Thursday, the global lender said the administration of Mr Tinubu must boost the government’s revenue to have funds to achieve his goals. On May 29, 2023, Mr Tinubu took over from Mr Muhammadu Buhari, promising to jump-start the economy and work tirelessly to address food security, end hunger, eradicate poverty, create

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Adedapo Adesanya The federal government has exempted imported Liquefied Petroleum Gas (LPG) and its equipment from the payment of customs duty and value-added tax (VAT), a move expected to result in a drop in the cost of cooking gas in the country and bring much-needed succour to Nigerians. This was disclosed by the Minister of Finance, Mr Wale Edun, in a letter (dated November 28, 2023) to the Special Adviser to the President on Energy; the Comptroller-General of the Nigeria Customs Service (NCS); and the Chairman of the Federal Inland Revenue Service (FIRS). Recall that in 2019, the federal

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has cautioned Nigerians to be wary of fake Naira notes currently in circulation, vowing to prosecute those engaged in the illicit acts. The apex bank in a release signed by Mrs Hakama Sidi Ali, the acting Director of Corporate Communications, said the counterfeit notes have been spread by some individuals for transactions in food markets and other places where commerce takes place across the country, noting that this is a punishable offence. “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially

By Modupe Gbadeyanka All is set for the commencement of the quarterly meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The meeting begins today, Monday, May 22, 2017 and will end on Tuesday, May 23, 2017. After the meeting on Tuesday, the CBN Governor, Mr Godwin Emefiele, is expected to address the media on outcome of the meeting. Business Post gathered that the programme, which enters its 256th edition, is slated to hold at the MPC Meeting Room, located at the 11th Floor, Wing C of the CBN Corporate Headquarters in Abuja. Part of

By Dipo Olowookere Minister of State for Aviation, Mr Hadi Sirika, has assured former workers of the defunct Nigeria Airways that their N45 billion severance package approved by the Federal Executive Council (FEC) in September 2017 would soon be paid by Federal Government. Since the money was approved by FEC over three months ago, the beneficiaries were yet to be paid, causing various tensions among them. Some of them have even lost their lives due to heartbreaks and delay in the payment of the severance package. This week, some of the former workers of the nation’s national carrier staged a

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has said that he is targeting an increase in ailing Foreign Direct Inflows (FDIs) specifically to Nigerian startups. According to the Minister, who is in the United States alongside President Bola Tinubu for the 78th Session of the United Nations General Assembly (UNGA) ongoing in New York, “The agenda set forth by President Bola Ahmed Tinubu, champions economic diversification powered by technological applications. Our mission at the Federal Ministry of Communications, Innovation, and Digital Economy is clear – catalyse the productivity of critical sectors using technology.”

By Adedapo Adesanya President Bola Tinubu has signed the Student Loan Bill into law. ⁣⁣ An aide to the president, Mr Dele Alake, disclosed this to State House Correspondents on Monday evening.⁣⁣⁣ The bill will enable Nigerian students to access loans at interest-free rates, easing the financial pressures on parents as well as helping to reduce the high rate of dropouts. The Student Loan (Access to Higher Education) Bill, 2019, a.k.a a Bill for an Act, provides for easy access to higher education for Nigerians through interest-free loans from the Nigerian Education Fund established in this Act was sponsored by

By Modupe Gbadeyanka President Muhammadu Buhari has been commended by the Public Relations Consultants Association of Nigeria (PRCAN) for signing the Executive Order making it unlawful to grant visas to expatriates to come into Nigeria to render professional services which could be otherwise provided by Nigerian professionals. PRCAN, the regulatory body of Public Relations consultancies in Nigeria, described the Executive Order as a valid extension of the ‘Buy Nigeria, Save the Naira’ campaign of the Federal Government of Nigeria, which a large number of government officials had treated with contempt. In a statement issued and signed in Lagos by the

By Adedapo Adesanya The Senate has tasked the Niger Delta Development Commission (NDDC) to complete the installation of a transmission power sub-station in Okitipupa council, Ondo State. The upper chamber charged the commission to urgently carry out the fixing in order to restore electricity to Ondo South Senatorial District comprising Okitipupa, Ilaje, Ese-Odo, Irele and Odigbo Local Government Areas (LGAs). In a statement signed by Mr Olumide Akinrinlola, the media aide of Mr Nicholas Tofowomo, the lawmaker representing Ondo South at the Senate, it was stated that the Senate acted on the motion filed by Mr Tofowomo on the urgent

By Modupe Gbadeyanka A new safety toolkit has been launched by Uber for its millions of riders, drivers and delivery-partners across Europe, Middle East and Africa. The toolkit comprises Safety Centre, Trusted Contacts, Share Trip, emergency assistance button and customisable speed alerts. A statement issued by the taxi services company explained that this development is mainly to raise the bar on safety, and increase transparency, accountability and peace of mind for all users. Since launching the app, Uber has provided millions of people with technology that allows them to get a ride at the push of a button, track every

By Timi Olubiyi, PhD The Coronavirus (COVID-19) pandemic, as well as the economic turbulence, have had significant impacts on businesses, manufacturers and households, including individual lifestyles and well-being in recent times. The direct consequence of these impacts has been a very large increase in inflation numbers in the country, and it is currently having serious implications. Globally, no country is immune to inflation. Around the world, inflationary pressure has been experienced in the USA, the UK, and many other developed and developing nations. But in Nigeria, the peculiarity is that inflation has been getting higher steadily for the last two