Business – Page 744 – Rise Africa

International Breweries, Cadbury drive N228bn equity market surge

29.04.2025

The Nigerian stock market extended its bullish momentum on Monday, as gains recorded in the shares of International Breweries, Cadbury Nigeria, and other blue-chip companies lifted the market capitalisation by N228.48bn. At the close of trading on the Nigerian Exchange Limited on Monday, the market capitalisation rose to N66.7tn, higher than the N66.47tn recorded in...

NNPCL under fire as $897m Warri refinery revamp flops

29.04.2025

Warri refinery shutdown drags on since January 25, P/Harcourt refinery struggles at under 40% production capacity Industry operators and experts have questioned the operational integrity of the Nigerian National Petroleum Company Limited, particularly regarding transparency, efficiency, and overall management of Nigeria’s refineries under its purview. This is after the revelation that the Warri Refining and...

LASG signs MoU to develop water rehabilitation projects

29.04.2025

The Lagos State Government on Monday signed a Memorandum of Understanding with an International Consortium Company, Belstar, and ENKA for the rehabilitation and expansion of water supply works in the state. In a statement signed by the Director (Public Affairs) of the Ministry of Environment and Water Resources, Kunle Adeshina, it was noted that the...

J’Berger to complete Warri flyover projects by year-end

29.04.2025

Julius Berger Nigeria Plc has announced that the construction of three flyover bridges and the expansion of roads in the Warri/Effurun area will be completed by the end of 2025. In a statement by Julius Berger’s Media Relations Manager, Emmanuel Isibor, residents, business owners, and community leaders in Warri-Effurun have expressed confidence in the transformation...

SEC warns traders against Ponzi schemes

29.04.2025

The Securities and Exchange Commission has warned traders against investing in Ponzi schemes, urging them to verify any investment opportunity with the commission before committing their funds. Speaking during a sensitisation campaign in Abuja recently, the Director-General of SEC, Emomotimi Agama, said the initiative was part of the commission’s ongoing efforts to protect Nigerians from...

PTAD pledges swift payment of pensioners’ arrears

28.04.2025

The Pension Transitional Arrangement Directorate has assured pensioners of its commitment to addressing critical issues, including the payment of the N32,000 pension increase and other outstanding arrears. This was contained in a statement made available to our correspondent on Sunday, signed by the Head of Corporate Communications, Olugbenga Ajayi. According to the statement, the Executive...

Stanbic IBTC reports N82bn gain

28.04.2025

Stanbic IBTC Holdings Plc has reported a profit after tax of N82.06bn for the first quarter ended 31 March 2025, representing an impressive growth of 80 per cent compared to N45.64bn recorded in the corresponding period of 2024. The financial services group disclosed its performance in its unaudited consolidated and separate financial statements filed with...

PenCom to recover unpaid pensions from power firms

28.04.2025

The National Pension Commission has intensified efforts to recover unpaid pension contributions from electricity generation and distribution companies across the country. In a statement made available to our correspondent on Sunday, PenCom’s Director-General, Omolola Oloworaran, during a courtesy visit to the headquarters of the Nigerian Electricity Regulatory Commission recently, led a delegation to seek NERC’s...

How AI is reshaping workforce, creating job opportunities

28.04.2025

In this piece, HENRY FALAIYE explores how artificial intelligence is reshaping the workforce and redefining the future of work, highlighting its key opportunities and challenges Artificial intelligence is fundamentally altering the workforce, bringing sweeping changes across industries, job functions, and how workplaces operate. With the rise of automation, machine learning, and AI-powered decision-making tools, companies...

UPDC plans dividend payment after nine-year break

28.04.2025

After nine years of dividend drought, UPDC Plc is set to resume dividend payments, a decision that underscores its gradual financial recovery and signals a shift towards greater profitability and shareholder engagement. The Chief Executive Officer of UPDC Plc, Odunayo Ojo, disclosed this at a recent press briefing in Lagos. He said, “For the first...