Meyer Plc's Revenue Fell by 40% in 2023

CBN Increases the Exchange Rate for Paying Customs Duties by 11.1%

Dangote Cement Plc Releases Q1 Report With N112.67 Billion PAT

Naira Trade Against the Dollar at N1309 at the Official Market

$824 Billion Resource-Backed Loans Slowing Africa’s Growth – Akinwumi Adesina

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GlaxoSmithKline Nigeria Plc’s Revenue Declined by 33.76%

According to GlaxoSmithKline Nigeria Plc's recently released financial statement for 2023, the company's profit dropped by 33.76% to N510.80 million in 2023 from N771.15 million in the previous financial year.The company announced this in a notice filed with the Nigerian Exchange Limited on Tuesday ...

Meyer Plc's Revenue Fell by 40% in 2023

Based on an analysis of Meyer Plc's most recent financial statement by BusinessDay, the company's earnings as one of Nigeria's largest paint manufacturers, fell by 40% last year. The company's after-tax profit in 2022 was N393 million; in 2023, it was N235 million. Operating costs rose from N568 million to N707 million, a 24 percent increase.Its financing cost rose significantly during that t...

CBN Increases the Exchange Rate for Paying Customs Duties by 11.1%

Yesterday, the Central Bank of Nigeria (CBN) increased the exchange rate for paying customs duties at the nation's seaports by 11.1% following the crash in the value of naira against the dollar in the FX market.According to information from the Nigeria Customs Service's official trade portal, CBN increased the Customs FX duty rate from N1,150.16/$ to N1,329.94/$ on Thursday, April 25.This hike ind...