Curator

http://ift.tt/eA8V8J RENOVATION, refurbishment and donation of security equipment to four police stations in Surulere area, Lagos, were the hallmark of activities by the Redeemed Christian Church of God, Lagos Province 44, at the weekend. The corporate social responsibility intervention was in accordance with the vision and mission of the Church which regularly embarks on various CSR initiatives and investments as a way of positively impacting the quality of lives within the communities the Parishes are located, according to the Pastor in Charge of the Province, Pastor Amos Emovon. While commissioning the various equipment, using Divisional Police Station, Itire as base, Emovon said the latest intervention was sequel to the implementation of various mega CSR Interventions in Education, Medical Care, Poverty Alleviation, Youth Development, Food for All Initiatives and Empowerment by the Church. “Having done all these, our next mega CSR intervention is now on security and safety in a...

http://ift.tt/eA8V8J By Peter Egwuatu O ANDO Plc has reduced its net debt by 29 per cent to N225.9 billion in the first quarter 2017 (Q1’17), ended March 31, from N316.6 billion in the corresponding period of 2016, just as Profit After Tax, PAT dropped by 59 per cent to N 1.7 billion  from N 4.1 billion. According to the Q1, 2017 result released on the Nigerian Stock Exchange, NSE the company’s turnover grew by 575 per cent to N138.4 billion from N20.5 billion recorded in the corresponding period of 2016, while its gross profit increased to N 13.4 billion from N 2.6 billion. The Loss\Profit before Tax, reduced to N647 million from N20.7 billion in 2016. Through its upstream subsidiary, Oando Energy Resources (OER) the company has consistently adopted a hedge mechanism that ensures the business is protected from fluctuating oil prices. Approximately 66 per cent of the company’s crude production was hedged with 9,590 bbls/day of crude oil production hedged at $65/bbl (average) w...

http://ift.tt/eA8V8J By Udeme Akpan N IGERIA LNG Limited (NLNG) has reached another major milestone with the exportation of its 4000th cargo of Liquefied Natural Gas (LNG) from its Bonny Island Terminal in Rivers State to Mamara LNG Terminal in Turkey, which also received the Company’s historic 3000th cargo, three years ago. The cargo shipped on board one of NLNG’s chartered vessels, LNG Sokoto, is sold to Botas Petroleum Pipeline Corporation, and is estimated to arrive its destination by May 14. Dr Kudo Eresia-Eke, General Manager, External Relations disclosed in a statement that NLNG exported its first cargo on October  9, 1999, to Montoir LNG Terminal, France, and has since grown to what has been described as Africa’s largest single private sector industrial investment, safely and reliably supplying about seven percent of total world LNG demand. According to him, the Company has plans to expand its production capacity at its six-train plant complex, the fourth largest LNG ...

http://ift.tt/eA8V8J By Rosemary Onuoha PENSION fund managers in Nigeria have increasingly been reducing their exposure to the stock market by allocating less of their assets to domestic equities and more to Federal Government of Nigeria (FGN) bonds and other fixed income securities. The development is part of moves to bolster their performance, strengthen their risk management strategies as well as part of their strategic response to the lacklustre performance of the Nigerian stock market in the past three years. Analysis of available information put together by Quantitative Financial Analytics, QFA, a financial research firm, indicates that assets allocation to equities by the pension companies have declined consistently on monthly basis since 2013. As at December 2013, 14.58 per cent of pension funds’ assets were invested in equities. As at the same period in 2014, the investment had fallen to 11.79 per cent, 9.76 per cent in December 2015, and 8.13 per cent in December 2016. ...

http://ift.tt/eA8V8J 24 Chibok girls protest poor welfare, want to go home 82 to re-unite with parents this week Four ‘Chibok’ babies now in FG’s custody By Kingsley Omonobi, Joseph Erunke & Omeiza Ajayi A BUJA— Details of how Boko Haram insurgents hyptonise and drug young girls to become suicide bombers were narrated, yesterday, by a 14-year-old girl, who was sent on a suicide mission by the terrorists for refusing a marriage proposal. The girl, suspected suicide bomber, said Boko Haram leaders chose her to detonate an Improvised Explosive Device, IED, in Maiduguri because she refused to get married to their members in Sambisa Forest. She is among three suspects arrested by the military when they allegedly came for a suicide mission at a military facility at Jakana in Maiduguri, Borno State. This is even as some of the 24 Chibok girls, pained by alleged failure of the Federal Government to send them to school or allow them return home since October, have started protestin...

http://ift.tt/eA8V8J *As Fidson, Livestock Feeds record highest returns in 10 days  By Peter Egwautu The positive sentiments in the Nigerian equities market may continue this week due to the impact of the 2017 budget just passed last week by the National Assembly and the new Investors and Exporters ,I &E  forex window introduced by th the  Central Bank of Nigeria, CBN. Meanwhile, Fidson   Healthcare Plc , Livestock Feeds, May & Baker Plc, Oando, and Nahco  Plc  recorded the highest return on the Nigerian Stock Exchange, NSE, following the rally that ensued in the market in the last 10 days . “Recent improvements in global oil prices above the US$45.0/b mark, improvement in domestic production currently above 2.0mbpd, fiscal responsiveness – including the release of Economic Recovery Growth Plan,   ERGP, successful issuance of US$1.5bn Eurobond, passage of 2017 budget – as well as recent positive readings in manufacturing PMI, suggest ...

http://ift.tt/eA8V8J By Emmanuel   Una Located some   twenty kilometres away from Calabar in the thick forest of Akpabuyo, Arthur Jarvis University, the first private university in Cross River State was flagged off during the MRS Winifred Oyo Ita, Head of Service of the federation, who cut the tape alongside the Obong of Calabar, Edidem Ekpo Out Abasi called on wealthy Nigerians   to put back into the society which made them rich by establishing institutions which can benefit the masses She lauded the founder of the university, Arthur Jarvis Archibong, the son of the late military governor of Cross River State, Brigadier Dan Archibong for his courage and initiative in opening the school, which she said, will bring new vistas in education to the people of the state and the entire south- south ‘This young man, Arthur Jarvis has done what some of the most wealthy Nigerians have not done and it is important that the rich change   their attitude and establish ins...

http://ift.tt/eA8V8J By Bunmi Sofola J UST when does a long term relationship   become a nightmare? For 18 years, Salewa was under the illusion she had a happy marriage. The three children of the marriage were doing well in school and her husband’s job as a civil servant augmented what she made as an importer of household goods which she sold wholesale. With proceeds from her business, she was able to develop the plot of land she inherited from her dead father. The whole family moved in and life continued as normal. Then, about six years ago, Mark, her husband got a managerial job in a reputable firm and his confidence soared. He invested in some smart suits and his grooming became more sophisticated. He started clinging to his mobile phone as if it were a life-line. When he was in a room, he’d rest it on the arm of his chair but if he got up to do something, he’d slip it into his pocket. Often, he’d go out under the pretext of filling his car with petrol so as not to waste valu...