nairametrics
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Business MTN Nigeria rakes in N127 billion from data subscription revenue – Nairametrics
MTN Nigeria raked in a whopping N127 billion from data subscription revenue for the year ended 2017. The telecoms giant revealed this in its 2017 annual report released last week. According to MTN, data revenue was R4,376 million up 89% year on year giving a naira value of about Read more...- curator
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Business MTN Group bounces back with $279 million profit – Nairametrics
South Africa’s telecommunications giant MTN has bounced back to profitability as the company’s headline hit 3.3 billion rand ($278.2 million) for the 12 months ended December 2017. The company made a 1.4 billion rand loss in 2016 due to a $1 billion fine imposed on its Nigerian arm. Read...- curator
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Business PENCOM Issues Public Notices on Compliance with the Pension Reform Act, 2014 – Nairametrics
The National Pension Commission (PENCOM) recently issued two separate Public Notices (PNs) to employers and employees on certain compliance requirements with the Pension Reform Act (PRA), 2014. The PNs reiterate the provisions of Section 4(5) of the PRA, 2014 which require employers to maintain...- curator
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Business 2017 VAT figures places value of goods supplied in Nigeria at N19.4 trillion – Nairametrics
Data from the National Bureau of Statistics reveals Nigeria collected a total of N972 billion in Value Added Tax for the year ended December 2017. This is 25% higher than the N777.5 billion collected in 2016. Nigeria collected N759.4 billion in VAT in 2015. Read more via Nairametrics –...- curator
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Business Medview Airline Plc soars with ₦ 1.5 billion profit in 2017 – Nairametrics
Medview Airline Plc yesterday released its audited financial statements for the year ended December 2017. Gross revenue increased from ₦26 billion in 2016 to ₦36 billion in 2017. Profit before tax literally doubled from ₦840 million in 2016 to ₦1.5 billion in 2017. Profit after tax also...- curator
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Business Three Nigerians make Forbes 2018 billionaire list – Nairametrics
Forbes Magazine today released its 2018 list of billionaires. Jezz Bezos, founder and Chief Executive Officer (CEO) of Amazon, an online e retailer topped the list with a net worth of $127. 3 billion. Bezos owns 16% of Amazon, which he founded in 1994. Read more via Nairametrics –...- curator
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Business How to avoid paying excessive taxes in Nigeria – Nairametrics
Taxes, like they say is a constant thing in life along with rain. Tax is a statutory obligation of every citizen and businesses in a country and as such is a major determinant in deciding the profitability or sustainability of businesses and an individuals net-worth. Read more via...- curator
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Business LASG Land Use Charge: What we can do to reverse it by @yomitheprof – Nairametrics
A strategic response to the new Lagos State Land Use Charge The Lagos State Government recently repealed its 2001 Land Use Charge Law, and replaced it with a new Land Use Charge Law, 2018. The Lagos State House of Assembly had passed the bill on 29th January, 2018, while Read more via...- curator
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Business NNPC to “boost power generation with these seven critical gas projects.” – Nairametrics
The Nigerian National Petroleum Corporation (NNPC) has disclosed plans to increase the current capacity of its refineries to one million barrels of crude oil per day from its current 445,000 bpd. Group Managing Director of NNPC, Mr. Maikanti Baru, stated this at Society of Petroleum Engineers...- curator
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Business These are they guys who scooped up Nigeria’s $2.5 billion Eurobonds – Nairametrics
Nigeria recorded a successful $2.5 billion Eurobonds offer last week recording an oversubscription of 432% and 472% for the February 23, 2030 and February 23, 2038 $1.25 billion offer respectively. The offer once again confirmed investor appetite for Nigerian Eurobonds, a sign that the country’s...- curator
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Business Why some banks may not pay bumper dividends this year – Nairametrics
Retail shareholders expecting bumper dividends from some banks in the country, may be disappointed as the Central Bank of Nigeria (CBN) has issued a circular updating its rules regarding dividend payments by banks and discount houses. Read more via Nairametrics – http://ift.tt/2ET9JVu...- curator
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Business These Stocks Made Investors Money Last Week Ended February 16th – Nairametrics
The Nigerian Stock Exchange closed last week ‘s trading session negative as the All Share Index (ASI) declined 1.1% to settle at 42,638.83 points. Year to date, the index is up 11.5%. Here is a run down of stocks that topped the gainers list, and our thoughts on how they Read more via...- curator
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Business Death of an Industry – Why Online Classified Businesses Like OLX Are Dying – Nairametrics
OLX Office Introduction In recent weeks, there has been a series of not so great news within the technology space in Nigeria. From the unceremonious sale of Konga to the shutting down of OLX, one of Nigeria’s leading classified ads business. Lets not forget that about a year ago, … Read more...- curator
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Business Petrol smuggling increases as Nigeria battles fuel scarcity – Nairametrics
As Nigerians groan from the effects of the current fuel scarcity, the Department of Petroleum Resources (DPR) has wielded the big stick against erring fuel marketers. Mohammed Saidu Public Relations Officer for the agency revealed this at a press briefing help in Abuja. Saidu also stated that...- curator
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Business Why single digit inflation may not appear till after 2019 – Nairametrics
The National Bureau of Statistics on Tuesday released its Consumer Price Index report for revealing an inflation rate of 15.13% for the month of January 2017. This is the 13th consecutive month of disinflation recorded by Nigeria. Disinflation is a month on month drop in the rise of inflation...- curator
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Business Factors behind the recent decline on the Nigerian Stock Exchange – Nairametrics
The Nigerian Stock Exchange (NSE), today broke a bearish trend with a 1.11% gain. The index lost 3.4% last week, and 3.3% this week, before today’s gain. Year to date gains have however narrowed to 10.27%. Why the drop? The bearish trend was due to several factors. Read more via...- curator
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Business How 9mobile acquisition delay triggered N5.5bn revenue loss – Vanguard News
NIGERIA’s fourth telecom operator, 9mobile, has suffered a loss in market share estimated at N5.5 billion in six months, occasioned by the confusion and delay in the sale of the company. The telecom company which prides itself as the most innovative, having tailored Read more via...- curator
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Business 2018 Lagos State marathon May Have Generated Over ₦100 million in Revenue – Nairametrics
Athletes at the 2018 Lagos State marathon. Lagos State government today, played host the third edition of the Access Bank marathon. The full marathon which is 42 kilometres, started at 6.30am at the National Stadium, Surulere, and ended at Eko Atlantic City, Victoria Island. Read more via...- curator
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Business The Innoson vs EFCC Battle has Taken a New Turn – Nairametrics
Officers of the Nigerian Police The legal battle between Innocent Chukwuma Chairman/Chief Executive Officer Innoson Group and the Economic and Financial Crimes Commission (EFCC) has taken a new twist. A Federal High Court sitting in Lagos has demanded his arrest. Justice Mojisola Dada, in the...- curator
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Business Globacom, 9mobile lose more grounds to MTN on GSM subscriber list for 2017 – Nairametrics
MTN Nigeria has maintained its lead in the mobile internet space, gaining a total of 5,054,192 internet subscribers in 2017. The company started 2017 with 31 million subscribers and ended with 36 million in its kitty. Airtel, the 3rd largest, also had a good year as it added 4,366,788...- curator
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