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BUSINESS ROUNDUP: LCCI nurses fear as 2020 approaches; Dangote’s comeback. See other stories that made our pick

BUSINESS ROUNDUP: Nigeria to disconnect Togo and Benin; China displaces America. See other stories that made our pick

Hello. It’s the last weekly Business Roundup for the year 2019. The last week of December despite the festivity recorded some interesting highlights. So, in case you missed out on details, here are the top highlights of events that happened during the week.

 

Headlines:

 

• Dangote Cement to buy back 10% of its own shares
• NNPC, Shell, Total, others land $10bn NLNG Train-7 deal after 12 years
• Cost of doing business in Nigeria may worsen in 2020 –LCCI
• EEDC admits plan to disconnect South-East prepaid meter users

 

Summary:

 

Nigeria’s largest company by market capitalisation, Dangote Cement PLC, has announced its plan to repurchase up to 10% of its issued share capital.

The decision, however, is subject to shareholders approval at the forthcoming Extraordinary General Meeting (EGM) scheduled to hold on 22nd January 2020. Read more.

The Nigerian National Petroleum Corporation (NNPC), together with its joint venture partners in the Nigerian Liquefied Natural Gas Limited (NLNG) including Shell, Total and Eni on Friday, December 27,announced the Final Investment Decision (FID) for the take-off of the NLNG-7 project.

READ ALSO: BUSINESS ROUNDUP: Nigeria to assemble Hyundia car; Bolt enters Abeokuta and Enugu. See other stories that made our pick</strong>

The ambitious deal, estimated to be $10 billion, was 12 years in the making, having being marred by negotiation troubles and series of back and forth(s) before it was delivered yesterday. Read more

The cost of doing business in the country has been projected to rise significantly in 2020. The Lagos Chamber of Commerce and Industry (LCCI) gave the forecast in the LCCI 2019 Economic Review and Outlook for 2020 made available to journalists in Lagos on Thursday, December 26.

 

Muda Yusuf, the LCCI Director General said the projection of high cost of doing business derived from poor infrastructure, excessive regulations, multiple levies and other factors. Read more.

The Enugu Electricity Distribution PLC (EEDC) has clarified issues pertaining to its plan to “disconnect South-East prepaid meter users”.

 

In a statement issued on Saturday, the Head of Communications, EEDC, Emeka Ezeh, said that the development did not apply to customers on the Smart Prepaid meter platform, “but the few customers using a particular brand of meter that the company can no longer provide support for, most of which are already obsolete.”Read more.

Meanwhile, on our editorial Business Review segment;

 

We published a roundup reviewing the tech ecosystem for the year 2019. In the post, we revealed that while the economy in 2019 was experiencing  fluctuations in both capital and money markets, the tech space, as another robust business enclave, witnessed significant growth year on year bases.

We looked at the major mergers, funding, emergence and competitions. We mentioned how the Chinese are dominating the space. Read now.

We also took time to review the success recorded by God is Good Transport Company with the Public-Private-Partnership agreement with Delta State.

We noted that business analysts have linked success of PPP to how business savvy the private party in the union is. If the strides of the past eighteen months become a measuring stick, the Delta model may just become a standard for other state transport firms whose fortunes have all dipped. Read now.

Bye for now, and see you in the new year. From all of us at Ripples Nigeria, we are wishing you a prosperous 2020. Cheers.

 

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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