FINANCIAL AND ECONOMIC NEWS
https://globaleconomic-trendsanalysis.blogspot.com/2017/06/financial-and-economic-news_60.html
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Here are some of the top company stories in Nigeria today 12th of June 2017.
1. The Court of Appeal in Port Harcourt has ordered Shell Petroleum Development Company (SPDC) to pay N122 billon as damages to Ejama-Ebubu community in Eleme Local Government Area of Rivers State for crude oil spillage. Link
2. Shareholders of Wapic Insurance Plc’s have given their approval for the firm to raise additional capital in the sum of N10 billion or its equivalent in any foreign currency. Link
3. The controversy rocking Nigeria’s major carrier, Arik Air, may soon be over as the shareholders are now deeply in discussion with a major investor, who would take over significant shares from the company and provide the funds to offset the debts of the airline owed to Asset Management Corporation of Nigeria (AMCON) and other creditors. Link
4. Output from the Shell Petroleum Development Company Limited (SPDC) Joint Venture-owned Afam VI power plant in the Niger Delta region has dropped by about 40 per cent to 350megawatts (Mw) due to transmission challenge. Link
5. Petralon Energy Limited has appointed Edith Unuigbe as Non-Executive Director to the Board of Directors. Unuigbe joined Petralon’s board after an illustrious 20-year career at the Nigeria Liquefied Natural Gas (NLNG) Limited where she was General Counsel and Company Secretary, a role she had for 10 years. Link
6. Oil marketing major, Forte Oil Plc, at the weekend, disclosed that it has embarked on a road show across the globe to woo foreign investors in its proposed N20 billion fresh capital drive for the expansion of its operations. Link
7. The President of the Dangote Group, Alhaji Aliko Dangote has expressed his readiness to build the biggest agricultural company in Kogi State with focus in the areas of rice and cassava production. Link
8. Former Minister of Communication, Dr. Omobola Johnson, would join Mouka Limited in June as the new board chairperson of the company. Link
9. The Nigerian National Petroleum Corporation, NNPC, recorded over 60.19 per cent growth in its operations in March 2017, the national oil company’s latest financial and operations report shows. Link
10. The Jos Electricity Distribution Company (JEDC), is to send additional 840 smart prepaid meters to the Nigerian Electricity Management Services Agency (NEMSA) station in Kaduna for re-testing, JEDC’s Head of Corporate Communications, Dr. Friday Adakole Elijah has stated. The company, according to Elijah in a press statement has already sent 660 meters to NEMSA and the additional 840 will make the figure 1,500 as agreed upon by the company, agency and stakeholders when NEMSA officials visited Jos in May. Link
Here are some of the top company stories in Nigeria today 12th of June 2017.
1. The Court of Appeal in Port Harcourt has ordered Shell Petroleum Development Company (SPDC) to pay N122 billon as damages to Ejama-Ebubu community in Eleme Local Government Area of Rivers State for crude oil spillage. Link
2. Shareholders of Wapic Insurance Plc’s have given their approval for the firm to raise additional capital in the sum of N10 billion or its equivalent in any foreign currency. Link
3. The controversy rocking Nigeria’s major carrier, Arik Air, may soon be over as the shareholders are now deeply in discussion with a major investor, who would take over significant shares from the company and provide the funds to offset the debts of the airline owed to Asset Management Corporation of Nigeria (AMCON) and other creditors. Link
4. Output from the Shell Petroleum Development Company Limited (SPDC) Joint Venture-owned Afam VI power plant in the Niger Delta region has dropped by about 40 per cent to 350megawatts (Mw) due to transmission challenge. Link
5. Petralon Energy Limited has appointed Edith Unuigbe as Non-Executive Director to the Board of Directors. Unuigbe joined Petralon’s board after an illustrious 20-year career at the Nigeria Liquefied Natural Gas (NLNG) Limited where she was General Counsel and Company Secretary, a role she had for 10 years. Link
6. Oil marketing major, Forte Oil Plc, at the weekend, disclosed that it has embarked on a road show across the globe to woo foreign investors in its proposed N20 billion fresh capital drive for the expansion of its operations. Link
7. The President of the Dangote Group, Alhaji Aliko Dangote has expressed his readiness to build the biggest agricultural company in Kogi State with focus in the areas of rice and cassava production. Link
8. Former Minister of Communication, Dr. Omobola Johnson, would join Mouka Limited in June as the new board chairperson of the company. Link
9. The Nigerian National Petroleum Corporation, NNPC, recorded over 60.19 per cent growth in its operations in March 2017, the national oil company’s latest financial and operations report shows. Link
10. The Jos Electricity Distribution Company (JEDC), is to send additional 840 smart prepaid meters to the Nigerian Electricity Management Services Agency (NEMSA) station in Kaduna for re-testing, JEDC’s Head of Corporate Communications, Dr. Friday Adakole Elijah has stated. The company, according to Elijah in a press statement has already sent 660 meters to NEMSA and the additional 840 will make the figure 1,500 as agreed upon by the company, agency and stakeholders when NEMSA officials visited Jos in May. Link
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