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“Sequel to the above development, the Human Resources and Finance departments are processing the increase to ensure that it is captured in the February 2024 payroll. ....
Consequently, the Year-to-Date, YtD, return rose 36.95%, while the market capitalisation, which represents the total value of investment in the Exchange gained N4.3 trillion to close on Friday at N56.038 trillion from N51.735 trillion the previous week. ....
The most recent of this cache of allegations and counter allegations came out in a press release early this month from Dangote. It accused BUA of masterminding what it called false allegation that it was being probed by the Jim Obazee Special Investigator. It alleged that its rival claimed it was involved in illegal foreign exchange deals and money laundering which allegedly had Godwin Emefiele’s Central Bank of Nigeria (CBN) as lead actor. ....
The Dangote vs. Abdulsamad business competition in the refinery sector is a testament to the entrepreneurial spirit and commitment to national development exhibited by these two titans of industry. As their refineries near completion and begin operations, the impact on Nigeria’s energy landscape will be profound, setting the stage for a new era of self-sufficiency and economic prosperity. ....
The Dangote-BUA rivalry has both its advantages and disadvantages. While it may drive prices down due to intense competition, it could also negatively impact the common people if the government does not intervene to find a resolution. Allowing cement imports, while potentially beneficial, also poses challenges, as it necessitates the use of foreign currency, further straining the Naira. ....