MTN said organic revenue gained 1 percent in the four months through April as regulatory pressure in Nigeria led to falling sales in the South African phone company’s biggest market. The performance was also impacted by lower revenue growth in Uganda and Cameroon, the Johannesburg-based company said in a statement on Wednesday. The margin on earnings before interest, taxes, depreciation and amortisation remains “under pressure”, the wireless operator said. “We expect the group’s performance to be impacted by the weak macro environment in key markets as well as by tough competition,” Chairman Phuthuma Nhleko said in the statement, which he…
Author: Pride Team
Deputy Governor of Rivers State Dr. (Mrs.) Ipalibo Harry Banigo has advised students to shun cultism and other vices that are inimical to attaining their full potentials as future leaders. Dr. Banigo gave the warning Monday when the leadership of National Union of Bonny Students (NUBS), paid her a courtesy visit in Government House, Port Harcourt. The Deputy Governor who was represented by her Special Assistant on Security, Elder Emmanuel Ibama, advised the students to engaged themselves in useful activities to avoid being lured into unwholesome ventures that would affect them and the name of their family. She enjoined them…
Rivers State Governor, Chief Nyesom Wike, has been told to apologise and refund the N10 billion from the State coffers, which he wasted on last Saturday’s inconclusive National Convention of the Peoples Democratic Party (PDP). The State Chapter of the All Progressives Congress (APC) made the demand in a statement signed by its Chairman, Dr. Davies Ibiamu Ikanya, and issued on Tuesday in Port Harcourt. Rivers APC said: “The well advertised PDP National Convention in Port Harcourt has come and gone with its disastrous outcome. With the party now factionalised into three, the demise of the once greatest political party…
Lagos State Governor, Mr. Akinwunmi Ambode on Tuesday said the plan of his administration to transform Oshodi into a world class transport interchange in the next 13 to 16 months would go a long way to depict the regeneration plan of the State, just as he said that the project would also totally remove all notorious activities associated with the area. Governor Ambode, who spoke at the Lagos House, Ikeja during a meeting with key stakeholders on the planned transport interchange, said by the time the project is delivered, the fear of insecurity must have been totally removed from the…
Governor Okezie Ikpeazu of Abia State has advised the federal government to provide adequate resources on the policing of the country’s borders. The Governor who disclosed this at the Government House, Umuahia when he received in audience from the house committee on Army led by the chairman, Hon Rimamnde Shawulu, said there is need for the country to step up intelligence about criminals by properly equipping the police and other security agencies. According to him, the country requires a holistic programme on intelligence, stating that Nigeria cannot make headway economically except the issue of security is adequately addressed. He stated…
Tiger Brands said the risk of higher inflation will place pressure on South African consumers as the nation’s biggest food producer is raising prices to try to offset cost pressures following record corn prices. Headline earnings per share from continuing operations, which exclude one-time items, were R9.78 ($0.62) in the six months ended March 31 from R9.75 a year earlier, the Johannesburg-based company said in a statement. Tiger sold its unprofitable Nigerian business to Dangote Industries with effect from February 25, treating this as a discontinued operation. The interim dividend rose 7 percent to R3.63 a share. The weak rand…
All is now set for the maiden edition of the Financial Literacy Excellence Awards, FILEX, under the auspices of one of Nigeria’s foremost Non-Governmental Organizations, the Development Initiatives Network, DIN. The Executive Director of DIN and Convener of the FILEX Awards, Dr. Bola Fajemirokun has said that the Award ceremony promises to be a very memorable event which will go down in the annals of history as a reference point for the advocacy for financial literacy in the country. She made this known at a media parley with journalists in Lagos while fielding questions on the Award Ceremony which is…
The ad hoc Committee on Crude Oil Theft Prevention and Control of the National Economic Council (NEC) has categorically stated that government do not have adequate operational vessels to patrol and secure the network of pipelines in the Niger Delta. At the end of the 67th meeting of NEC in Abuja, the Deputy Governor of Bayelsa State, Admiral John Jonah Atuama (rtd), said the committee also discovered that massive unemployment among youths in the Niger Delta region had contributed to the rising incidence of oil theft and vandalism of oil company facilities in the region. Atuama said that he reported…
The Federal Government says it has to take painful decisions and make tough adjustments because Nigeria is broke. The Minister of Information, Alhaji Lai Mohammed, said while briefing journalists after Federal Executive Council meeting that the decision to increase the pump price of Premium Motor Spirit from N86 to N145 per liter was one of those decisions. The minister likened Nigeria’s situation to a case of a person, who got a pay cut and had to adjust to the current reality in terms of his spending. The minister said, “The current problem is not really about subsidy removal. It is…
The Manufacturers Association of Nigeria (MAN) has inaugurated its large corporation group. According to the Association, The strategic group will amongst other things come up with policy recommendation that will lead to a conducive economic and social climate for the operation and development for large-scale industries in Nigeria. Speaking at the inauguration ceremony, in Lagos, the president of MAN, Frank Jacobs said one of the most crucial tasks before the large corporation group is the facilitation effective linkage between small/medium scale industries and large scale industries in the production and supply value chain. Jacobs said linkage is critical in the task of…