Transcorp Releases 2019 Audited Results, Declares N3.7bn PAT

 Transnational Corporation of Nigeria Plc (“Transcorp”) has announced the release of its Audited Financial Statements for the year ended December 31, 2019. Highlights of the result show the Group recorded a Turnover of ₦76.35 bn, Profit Before Tax of ₦7.90bn and a Profit After Tax of ₦3.71bn. Despite the drop in year-on-year financial performance, Transcorp […]

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FG, MAN task local manufacturers to adopt Fourth Industrial Revolution Technologies, citing gains  

   By Industrial Digest    “We are living in exciting times. The manufacturing sector must prepare itself for the Fourth Industrial Revolution coming in the age of the African Continental Free Trade Area Agreement (AfCFTA).” Nigeria’s Vice President, Prof. Yemi Osinbajo, said yesterday, when he declared opened the 2020 edition of the Annual Nigeria Manufacturing […]

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The Impact of Corona Virus on Nigeria’s Economy

By Muda Yusuf (DG, LCCI)  The outbreak of the coronavirus few weeks ago has profound implications for the Nigeria economy. It poses a major threat to Nigeria’s macroeconomic fundamentals, the impact of which may be systemic and far reaching. The looming price war contemplation by Saudi Arabia, the largest crude oil exporter, portends even more […]

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Nigerian shoemakers tap national pride, nostalgia to spur local industry

In Summary Bata Nigeria is a franchise tied to Bata, a historic shoe company based in Switzerland, and present in 70 countries. The Nigeria franchise has stores in the capital, Abuja, the southwestern megacity Lagos and southern oil city Port Harcourt. Bata Nigeria also sells shoes directly to Nigerian schools, for pupils as part of […]

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Nigerian Manufacturers shops for 4IR Technologies at NME/ NIRAM Expo

    By Industrial Digest   For Nigerian manufacturers not to be excluded from the Advanced Digital Production (ADP) technologies that are driving the Fourth Industrial Revolution (4IR), their apex body, Manufacturers Association of Nigeria (MAN) has deemed it fit to expose players in the industry to these technologies so that they can adopt them […]

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Dangote’s  Obajana Cement plant to raise capacity to  16.5Mmta  with 5th production line

(BusinessDay) Obajana Cement Plant, the largest member of Dangote Cement Company’s factories in Nigeria, plans to raise its production capacity to 16.5 million metric tonnes per annum, from its current capacity of 13.3Mmta. Devakumar Edwin, an executive director of the company, said that this will be achieved when a fifth production line, currently being constructed, […]

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Buying Arsenal Football Club to cost Dangote £2billion

  (BusinessDay) Africa’s richest man Aliko Dangote has been told how much it will cost to buy out Stan Kroenke’s stake in Arsenal takeover. Dangote has been linked with Arsenal for in recent time, with the businessman stating that he will be pursuing a takeover of Arsenal, the Mirror reports. The Nigerian Billionaire has made […]

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Guinness to provide water in four states, FCT

  Guinness Nigeria, a subsidiary of Diageo Plc has announced a 10-year water intervention project across four states and the Federal Capital Territory. The Punch reports that beneficiaries of the project are Edo, Kano, Kebbi, and Nasarawa states. In addition to providing clean potable water in these states, the multinational organisation said it would be […]

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Coronavirus: Global supply disruptions take toll on Nigerian businesses

  “Several reports from our members within and outside the country confirm that the peak of the impact of COVID-19 on global supply chain will occur in mid-March, forcing thousands of companies to throttle down or temporarily shut assemblies and manufacturing plants in the US and Europe.” The President of Abuja Chamber of Commerce and […]

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