Author: Chronicle Editor

Guinness Nigeria Plc has announced a 23 per cent increase in revenue for the full year ended 30 June 2017. The results, which were released to the Nigerian Stock Exchange (NSE), also showed a gross profit of N48.3bn which is 16 per cent higher versus the previous year and an operating profit of N10.2bn representing an increase of 131 per cent year on year. Commenting on the results, Peter Ndegwa, Managing Director/CEO, Guinness Nigeria said that the company’s results were driven by a relentless focus on executing our strategy and keeping costs down. “Despite the challenging economic conditions, we have…

After contracting for five consecutive quarters, the Nigerian economy has finally exited the recession, as data on the country’s gross domestic product (GDP) growth rate to be released at 10 a.m. today by the National Bureau of Statistics (NBS) has shown that the economy grew at 0.55 per cent in the second quarter (Q2) of 2017. The preliminary Q2 2017 GDP results, which THISDAY had exclusively obtained from presidency sources, had been embargoed by the NBS at the weekend until the official release of the report today. But THISDAY decided to go to press last night with the report because…

Central Bank of Nigeria sold $9 billion to forex dealers through the interbank market between February 21 and August 31. The figure was arrived at following a 0review by this newspaper of all the official data of FX sales released to the public by the CBN within the period. The FX sales were intended to cover for personal and business travels, medical needs, and school fees, futures market and other approved transactions. At the time CBN began massive funding of the FX market, the naira had lost significant value, trading at over N500/$1 at the parallel market. Then rent seeking,…

• Want salary shortfall, others resolved • ‘Why strike is prevalent in health sector’ The National Association of Resident Doctors (NARD) has rejected the terms of settlement reached with the Federal Government last Thursday and declared a nationwide industrial action until the demands of its members are met. The President of NARD, Dr. John Onyebueze, who announced this in Abuja yesterday after a meeting of the National Executive Council (NEC) of the association, said the strike took off yesterday morning. The doctor’s action portends more trouble for a government that is already grappling with Labour issues in critical sectors, including…

Literary icon, Chimamanda Adichie, has disavowed some write-ups attributed to her in which she purportedly supported the current Biafran agitation. Adichie, who is the author of the bestseller, ‘Half of a Yellow Sun’, said this in a Facebook post on Monday. The headline of one of such false write-ups read, ‘Enough of this Political Correctness, I am a Biafran and Nothing Else- Chimamanda Ngozi Adichie’ Read Also Gbenga Daniel denies confrontation with Bode George Adichie, who posted a picture of one of such false write-ups, said she never made any statement on Biafra. She said, “This headline below, and other…

President Muhammadu Buhari has urged Nigerians to celebrate the Super Eagles after the team’s 1-1 draw with the Indomitable Lions of Cameroon at the Stade Ahmadou Ahidjo in Yaounde. The President in a tweet on Sunday said, ” Let’s celebrate our Super Eagles, holding Cameroon to a draw in Yaoundé. The march to #Russia2018 continues, and they have all our support” Nigeria survived a late Cameroon onslaught to draw 1-1 in Yaounde and move closer to qualifying for the 2018 World Cup in Russia. Read Also No spending probe for Man City See Buhari’s tweet: https://twitter.com/MBuhari/status/904791216805609474 Moses Simon put the…

Marcus Rashford put England on the brink of World Cup qualification after scoring the winner in a 2-1 victory over Slovakia on Monday night. Defeat would have seen Gareth Southgate’s side slip to second place in Group F with two games to play and Stanislav Lobotka’s goal after two-and-a-half minutes prompted concern among the 67,823 supporters at Wembley Stadium. But Eric Dier turned in a corner on 38 minutes to settle the nerves, before Rashford struck a fine winner 14 minutes after half-time to put England five points clear of Slovakia. And that means England need just two points from…

Manchester City are not being investigated over Financial Fair Play rules following a complaint by La Liga. The European governing body UEFA clarified its position on Monday afternoon after a statement from the Spanish league led to reports an official probe was being conducted. That statement was made after La Liga wrote to UEFA to make a formal complaint about City and Paris Saint-Germain. UEFA did announce last week that PSG are being investigated but Press Association Sport understands that was not prompted by La Liga’s complaint and City are certainly not being looked at. A UEFA spokesperson said: “There…

Hajiya Aisha Buhari, the wife of the President, has given scholarship awards to 60 orphans in primary school in Daura. Buhari, who launched the scholarship scheme in Daura on Monday, said the scholarship would cover the six-year primary school education of the beneficiaries. She said the aim of the scheme was to promote education and increase access to the quest for education especially for the Girl-child in the area. The First Lady, who did not disclose the amount to be spent on the beneficiaries’ admonished parents to take the education of their children seriously, adding that education, is the bedrock…

Former governor of Ogun state, Otunba Gbenga Daniel (OGD) has denied any confrontation with one of the founding fathers of the Peoples Democratic Party (PDP), Chief Olabode George. In a statement signed by his media aide, Ayomide Giwa, OGD said as a strict follower of the tenets of Yoruba culture and tradition he places premium on respect to elders. “The attention of His Excellency, Otunba Gbenga Daniel has been drawn to some reports online and in some tabloids on an alleged disagreement between him and Chief Bode George bordering on the Chairmanship of the Peoples Democratic Party (PDP),” the statement…