Tuesday , November 21 2017
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Moody’s downgrades Dangote Cement rating to B1

Moody’s Investors Service, has downgraded Dangote Cement Plc’s (DCP) corporate family rating (CFR) to B1 from Ba3. At the same time Dangote Cement ‘s probability of default rating was downgraded to B1-PD from Ba3-PD. The company’s national scale rating (NSR) remains unaffected at Aaa.ng. The outlook on the ratings is ...

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Dakuku: Lawyers key to development of maritime sector

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside, has charged practitioners of law in the maritime sector on the need for regular updates on the knowledge of the sector, due to the dynamism of maritime law regulating the industry, which is key to ...

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KPMG Nigeria’s Kunle Elebute Appointed as Chairman for KPMG Africa

  KPMG, one of the global big 4 professional services Firms, has announced the appointment of Kunle Elebute as the new Chairman for KPMG Africa, a position that he would take on in addition to his current role as the National Senior Partner (NSP) for KPMG in Nigeria. Elebute brings ...

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SON Destroys Sub-standard Electrical Appliances, Phone Accessories, Wine, Others

The Standards Organisation of Nigeria (SON), recently destroyed substandard electrical appliances, phone accessories, wine worth about N10 million. Other products destroyed include antiseptic soap, sanitary towels, cosmetics, electrical cables and children’s pampers. SON in collaboration with other agencies, including Nigeria Customs Service (NCS) was able to seize seven containers of ...

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Nigerian Cement Sector Update October 2017: Strong Earnings Growth Despite Subdued Macro

Stellar y/y sales and earnings growth despite near-term pressures Despite the near-term pressures on demand elicited by weak economic conditions, our Nigerian cement names delivered stellar y/y sales and PBT growth in H1 2017. On the back of favourable pricing (up 73% y/y), sales growth for our Nigerian cement names ...

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Dangote Sugar Refinery Plc – Outlook Still Favourable

Strong earnings growth outlook over the 2017-19E period Dangote Sugar Refinery’s (DSR) growth story over the medium term is compelling. We forecast EPS growth to average 45% y/y over the 2017-19E period. We expect the company’s dominance of the sugar industry to persist well beyond the next few years given ...

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Lagos has potentials to be a net exporter of goods and services in Africa – Ambode

      *Felicitates with CICAN at 25     Lagos  State Governor, Mr Akinwunmi Ambode, has reaffirmed that Lagos State has potential to be a net exporter of goods and services in Africa, just as he expressed the need for the investing public to continue to have access to ...

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Minister, MAN boss, Dangote, others for CICAN symposium

Dr Okechukwu Enelamah     Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah; President, Dangote Group, Alhaji Aliko Dangote as well as President, Manufacturers Association of Nigeria, MAN, Dr Frank Udemba Jacobs are expected to grace the symposium of Commerce and Industry Correspondents Association of Nigeria, CICAN, designed to ...

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ICAN President visits Sovereign Trust Insurance Plc.

The Management of Dangote Industries Limited (Dangote Group) has issued a passionate appeal to members of the public to assist in monitoring and reporting both recklessness and illegal haulage of contrabands goods by some of its truck drivers. The company has also set up hotlines for the public to report ...

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