Thursday, September 20, 2018

Mike 'Uzor

    Nigeria’s crude oil earnings at 5-month peak in December

Nigeria’s crude oil earnings at 5-month peak in December

Crude oil sales proceeds by Nigerian National Petroleum Corporation (NNPC) surged 132% to $342.18 million last December – the second highest monthly earnings record in 2017.  NNPC’s financial report for December 2017, which contains this information, shows a strong recovery in total crude oil and gas sales proceeds – which rose from $273 million in November to $447.7 million in December [...]

0 comment Read Full Article
    Total Nigeria: Profit drops from 2016 peak

Total Nigeria: Profit drops from 2016 peak

Total Nigeria has reported a drop of 46% in after tax profit in the 2017 full year from the record profit high it registered in 2016. At N8.02 billion, after tax profit is down to the second highest figure in the operating history of the oil marketing company. Total Nigeria had multiplied after tax profit more than three and half [...]

0 comment Read Full Article
    Oil revenue going up but government borrowing on the rise too

Oil revenue going up but government borrowing on the rise too

Both federal and state governments have continued to pile up new debts even as crude oil price and revenue maintained a general uptrend since 2017. Within the first nine months of the year, total public debts rose by more than N3 trillion to stand at N20.37 trillion, according to the figures issued by Debt Management Office (DMO). [...]

0 comment Read Full Article
    Seplat Petroleum reaps tax credit windfall

Seplat Petroleum reaps tax credit windfall

Seplat Petroleum Development Company, the oil producing firm, has returned to profit, ending three years of rapidly falling profits that hit a big loss at the end of 2016. A strong final quarter saw the company advance from near break-even at the end of the third quarter to a pre-tax profit of N13.45 billion at full year.Profit performance was reinforced [...]

0 comment Read Full Article
    Food/beverages sector: Springing back to life

Food/beverages sector: Springing back to life

Food and beverage companies recorded considerable progress towards recovery in 2017 from the foreign exchange crisis of 2016, the associated exchange losses and the drop in consumer spending power due to economic recession. Stability in the foreign exchange market last year strengthened output and consumers gradually adjusted to price increases. The operators here however still faced a highly competitive market [...]

0 comment Read Full Article
    Why insurance sector is still losing attraction

Why insurance sector is still losing attraction

The insurance sector isn’t getting the attention of investors in the current stock market rally that has seen some share prices double within three weeks of the new year. The sector continues to face weak growth in revenue and rising underwriting expenses.The core business of underwriting remains constrained in the face of operating difficulties but there are reasonable improvements in [...]

0 comment Read Full Article
    NNPC: Deficit spending climbs to four-month high

NNPC: Deficit spending climbs to four-month high

The NNPC Group closed its operations last November with the biggest monthly deficit since August 2017. [...]

0 comment Read Full Article
    Crude oil earnings down 50% in November — blame it on ‘subsidy’

Crude oil earnings down 50% in November — blame it on ‘subsidy’

Crude oil export revenue by Nigerian National Petroleum Corporation (NNPC) fell sharply by one-half in November 2017 to $113.97 million. [...]

0 comment Read Full Article
    2017 earnings: What to expect from conglomerates

2017 earnings: What to expect from conglomerates

Conglomerates have since lost the normal advantage of diversified operations that enable them maintain stability through the business cycle. Their usual advantage is to use earnings from highly growing markets to compensate for slowly growing or declining areas and thus maintain overall stable growth.The operators seem to have lost that advantage. Every market segment faces its own difficulties, making it [...]

0 comment Read Full Article
    Petroleum companies: Interest/input costs likely to hinder profits

Petroleum companies: Interest/input costs likely to hinder profits

Huge interest expenses as well as rising cost of sales were a major headache for petroleum marketers and producers in 2017. While the companies succeeded in reinforcing revenue growth in the year, rising input cost and huge finance expenses stood on the way of converting revenue into profit. Inability to grow wealth for shareholders despite improved revenue is expected to [...]

0 comment Read Full Article
    Crude revenue reaches 12-month peak — but fuel imports are a killjoy

Crude revenue reaches 12-month peak — but fuel imports are a killjoy

Crude oil export revenue reached the highest mark in 13 months at the end of September 2017 but continued importation of petroleum products is sapping much of the earnings, NNPC’s oil and gas report for the month of October has shown. [...]

0 comment Read Full Article
    NNPC’s deficit spending keeps growing

NNPC’s deficit spending keeps growing

NNPC’s oil and gas report for October 2017 shows a further increase in the corporation’s overall deficit spending -- despite a drop during the month compared to September. [...]

0 comment Read Full Article
    Healthcare companies responding to treatment

Healthcare companies responding to treatment

Pharmaceutical companies are pushing their way forward through the economic difficulties and the sector looks quite promising to be one of the firsts to get the spur of economic recovery. Nigeria’s large consumer market is able to consume its way out of economic decline and   healthcare companies here offer food and medicines that drive the rest of the consumer market.The [...]

0 comment Read Full Article
    REVEALED: Nigeria’s refining capacity drops to lowest in years

REVEALED: Nigeria’s refining capacity drops to lowest in years

Consolidated capacity utilisation of Nigeria’s three refineries dropped to 6.1% at the end of September 2017, a sustained decline from the average figure of 13.7% in 2016.  [...]

0 comment Read Full Article
    Outlook for cement companies: Expect profit rebound

Outlook for cement companies: Expect profit rebound

Cement companies are expected to have finished 2017 trading on a generally elevated earnings position, breaking forth from the loss of operating momentum that has greeted the sector since 2014. Rising cost of production has been a limiting factor for the operators here but they seem to have found a way around it in the concluded financial year.Further to that, [...]

0 comment Read Full Article
    Breweries: From despair to rising hopes

Breweries: From despair to rising hopes

Fiscal 2017 is a year in which new hopes have flickered through the breweries sector, holding mild turnaround prospects for a sector that has been in despair for the preceding three years running. Brewing companies have faced the worst operating period in decades since 2014. The total brewed products market moved from stagnation to a decline during these years.Breweries are [...]

0 comment Read Full Article
Advertisement

 

Advertisement

Advertisement

Exchange Rates

September 20, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement