Sheraton Cairo Reopens for Business after Renovation

By Modupe Gbadeyanka Steps are being taken by a leading amusement park and resort in Nigeria, Omu Resort, to ensure Delta State become the latest global tourism hub. The company has come up with a multifaceted initiative known as Discover Delta to attract tourists across the world to the oil-rich state and earn scarce foreign exchange (FX) for the country. It intends to achieve this goal and redefine the tourism landscape in Delta State through the Leisure Park and Film Village Asaba. A statement from the firm said in September 2023; it would launch the Discover Delta initiative, which encompasses

By Adedapo Adesanya The Minister of Transportation, Mr Saidu Alkali, inaugurated the first cargo movement from the Lagos-Ibadan rail corridor during his first official tour of the rail corridor on Tuesday. This effort is expected to decongest the Apapa port as shippers moved 92.28 per cent of Nigeria’s total exports and 60.77 per cent of imports through the facility in the first quarter of 2022 (Q1’22), according to the latest available data. The Minister kicked off the tour at the Ebute Meta station before proceeding to Apapa for the launch, then travelled to Ibadan using the 157 km rail corridor.

By Aduragbemi Omiyale One of the wet-lease aircraft in the operations of United Nigeria Airlines has been suspended by the Nigeria Civil Aviation Authority (NCAA). A wet-leased is a leasing arrangement whereby one airline (the lessor) provides an aircraft, complete crew, maintenance, and insurance (ACMI) to another airline or other type of business acting as a broker of air travel (the lessee), which pays by hours operated. The regulator decided to suspend the plane after one of the flights of the airline destined for Abuja from Lagos landed in Asaba, Delta State, over the weekend. While the company claimed the

Travelling far distances by car, bus, plane, or train is not always fun. Did you know it can even have a harmful impact on your health, too? Long-distance travel, especially by car, taxi, or bus, can increase the risk of blood clot formation, a condition known as deep vein thrombosis (DVT). In many instances, people sit still in cramped and confined conditions for hours when they’re travelling a far way. But warns Dr Helen Okoye, a medical expert and spokesperson for the World Thrombosis Day (WTD) campaign, prolonged periods of inactivity can be dangerous. “When our bodies are in a

By Dipo Olowookere The battle for selecting the flag bearer of the All Progressives Congress (APC) in Ondo State for the governorship election holding in the state in 2016 is taking another twist. Business Post learnt that on Monday morning, those who work at the secretariat of the APC in Ondo State were shocked with what they were welcomed with. Our reporter gathered that some fetish materials were spotted at the main gate of the party’s office, located on Oyemekun Road, in Akure, the state capital. This, Business Post learnt, scared many party workers away from the place. It was

The Nigerian Extractive Industries Transparency Initiative (NEITI) has disclosed that the total financial flows from Nigeria’s oil and gas sector depreciated to $17.05 billion in 2016, a 31 percent decline on the $24.79 billion generated in 2015, and a 75 percent plunge on the sector’s peak earnings of $68.44 billion in 2011. This decline in oil earnings showed that Nigeria lost $51.39 billion within the period under review, with the 2016 figure the lowest in 10 years and the fifth lowest in the 18 years covered by NEITI’s audit reports so far (1999 to 2016). The latest report revealed that

By Dipo Olowookere A wholly-owned subsidiary of Wema Bank Plc, Qualinvest Capital Limited, has topped the best performing stockbroking companies in the month of June 2019 and second quarter of 2019, Business Post is reporting. Last month, the company transacted the highest volume of shares in the country, contributing 48.62 percent to the 81.37 percent the top 10 firms added to the total volume of equities traded on the floor of the Nigerian Stock Exchange (NSE). The company traded 10.6 billion shares in the period under review. Taking the second position was Stanbic IBTC Stockbrokers Ltd, which traded 2.1 billion

By Dipo Olowookere The Central Bank of Nigeria (CBN) has explained the reason it came up with a new foreign exchange (FX) policy on diaspora remittances. On Saturday, the apex bank, under the leadership of Mr Godwin Emefiele, announced a new forex promo tagged CBN Naira 4 Dollar Scheme, an incentive for senders and recipients of International Money Transfers. The campaign, which will last for two months from March 8 to May 8, 2021, will enable “all recipients of diaspora remittances through CBN licensed IMTOs [to] be paid N5 for every $1 received as remittances inflow.” After the circular was

By Dipo Olowookere The Nigeria Extractive Industry Transparency Initiative (NEITI) will hold a conference on Economic Stabilisation for Inclusive Growth tomorrow. The event will take place on the internet through the popular social media platform, Twitter, and Nigerians have been urged to partake in it. The tweet conference is following up on NEITI’s occasional paper, ‘The case for a robust oil savings fund for Nigeria.’ The online engagement is taking place on Monday, September 11, 2017, and will hold from 2pm to 4pm. Those pencilled down for the conference include former Minister of Education, Mrs Oby Ezekwesili; Vice President at

By Cowry Asset In 2016, Total Oil Nigeria Plc recorded an impressive year-on-year financial performance, beating industry peers despite economic headwinds – an economic recession, scarce foreign exchange and rising inflation. Turnover increased by 38.24% to N290.95 billion while profit after tax spiked by 319.91% to N14.79 billion. In comparison to industry performance, the oil and gas major recorded above average profitability while financial leverage fell below industry average. Return on Equity increased to 74.33% in 2016 (from 25.16% in 2015), higher than industry average of 26.02%; while Debt to capital fell to 28.12% in 2016 (from 45.55 in Q3

By Dipo Olowookere There have been many testimonies from holders of accounts in Guaranty Trust Bank Plc (GTBank) that the *737* mobile banking code has taken financial transactions to another level. The initiative by GTBank has been applauded by many because they say it has exceeded customers’ expectation. The *737* is a mobile channel, which enables the bank’s customers to conveniently perform third party transfers to both GTBank and other bank account holders in Nigeria via mobile phones. This is done by dialling the right code with details of the amount and account number of the beneficiary, writes Mobile payment