Iron ore miner, Fortescue scraps $2.5 billion debt deal
Investment banks Credit Suisse and JP Morgan, lead managers for the issue, had initially approached the U.S. loan market for the $2.5 billion refinancing, but investors showed little interest despite the miner offering more than 400 basis points over the London interbank offered rate (Libor), market sources said.
NCC to auction 2.6GHz band in May
On the pre-qualification criteria, the IM states that applicants in the allocation process will not be required as a pre‐qualification criterion to hold any telecommunications operational license in Nigeria.
‘Independent oil firms avoid payment of royalties, taxes’
The Minister of Petroleum, Mrs Diezani-Alison Madueke had earlier at the conference, emphasised the need for both oil multinationals and indigenous operators to strategise for innovative funding in the wake of the recent plunge in crude oil prices.
Vitafoam to consolidate subsidiaries, export business
AS part of strategies to improve its market share in Nigeria and other West African countries, Vitafoam Nigeria Pc has unveiled plans to consolidate investments in its subsidiaries as well as harness opportunities in the sub-region following the reduction in the spread of the Ebola virus disease.
Why Nigeria, others need to scale down raw materials’ export
WITH a contribution of 1.5 per cent to world’s manufacturing of value added goods, compared to other parts of the world, the African Union has stressed the need for Nigeria and other African countries to scale down the export of raw materials to developed countries.
NIOMR unveils new canned catfish platform
THE Nigerian Institute of Oceanography and Marine Research (NIOMR) has unveiled Catfish Canning Innovation Platform (CCIP) to improve the catfish value chain, as a concept that represents a paradigm shift in fish production.
CHIEF Olusegun Osunkeye, will retire voluntarily as Chairman of Lafarge Africa Plc from the conclusion of the 2015 yearly general meetng, having served as a Director for 14 years, five out of which was as Chairman of the Board of Directors.
Ashakacem completes tender offer to minority shareholders
The board of Ashakacem Plc has announced the successful completion of its mandatory tender offer to minority shareholders, as majority of the shareholders accepted the offer and converted their Ashakacem Plc shares to Lafarge Africa Plc’s shares.
Expert seeks economic diversification through manufacturing, agric
A strategic diversification of the economy, with focus on manufacturing and agriculture, holds the ace in salvaging the nation’s economy from the pangs of oil price volatility and naira devaluation, the Group Executive Director of Dangote Group, Devakumar Edwin has said.
Famous Grouse ends shoppers promotion, rewards consumers
The conclusion of the promotion saw the emergence of Ifeanyi Ejiofor who emerge as the firm’s top winner in the promotion, driving away a brand new Hyundai Accent 2014 model.