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PEOPLES DAILY, FRIDAY, AUGUST 23, 2013
Business
L-R: Company Secretary, Chidi Okezie, Chairman, Stanbic IBTC Holdings Plc, Atedo Peterside, and Chief Executive Officer, Sola David-Borha, during the Stanbic IBTC Holding AGM on Wednesday in Abuja. Photo: NAN
CCNN Sokoto to spend N45bn to erect 1m tonnes per year production line - Chairman
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he Cement Company of Northern Nigeria ( CCNN) has promised to raise N45 billion to erect a new production line of one million tonnes of clinker per annum together with a coal grinding mill and accessories. The News Agency of Nigeria
(NAN) reports that this was disclosed by its Chairman, Alhaji Abdulsamad Rabi’u in Sokoto at the firm’s 34th Annual General Meeting (AGM). According to Rabi’u, the company had recorded a turnover of more than N15 billion in 2012
United Airlines introduces Boeing 787 Dreamliner on Lagos-Houston route From Suleiman Idris, Lagos
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nited States leading airline United Airlines’ said it had deployed a Boeing 787 Dreamliner to service Murtala Muhammed International AirportLagos route with flight UA142 from the airline’s Houston hub, George Bush Intercontinental Airport. The airlines said the state-ofthe-art aircraft will now operate United’s five-times-weekly Lagos-Houston nonstop service. “Customers will notice a real difference on board the 787 Dreamliner,” said James Mueller, United’s vice president Atlantic & Pacific sales. He affirmed that “It is the worlds most advanced and efficient passenger aircraft, with a range of features that improve the overall flying experience. The introduction of the 787 means that United now offers customers in Nigeria an unbeatable combination for trans-Atlantic travel – the most comfortable aircraft, industryleading products and services, nonstop access to one of the
United States’ leading business centers and connections from our Houston hub to cities across the Americas”. Muller added that United’s 787 Dreamliner is configured with 36 flat-bed seats in United Business First and 183 seats in United Economy, including 70 Economy Plus seats with added legroom and increased personal space. “Customers experience greater comfort with improved lighting, bigger windows, larger overhead bins, lower cabin altitude and enhanced ventilation systems, among other passenger-friendly features. All customers benefit from on-demand entertainment at every seat and lighting that replicates a full day or night on long-haul flights such as Lagos to Houston. The aircraft’s use of lightweight composites, together with its modern engines and improved aerodynamic design, allow it to fly farther, faster and more efficiently than similar-sized conventional aircraft”.
32nd AGM authorising it to raise up to a maximum of N45 bıllion for the purpose of erecting a new production line,’’ Rabi’u said. The CCNN chairman said that the board has not recommended payment of any dividend due to the cash flow situation. (NAN)
as against more than N13 bıllıon the previous year. Similarly, the chairman said, profit after tax went down to N1.1 billion as against N2.3 billion the previous year. “Although the turnover has increased the profit after tax has
gone down. This was attributable mainly to the high cost of oil. “The dependence on fuel oil makes the company exposed to changes in the oil price and disturbances in the supply situation. ‘’We are ready to implement the special resolution passed at the
Sokoto govt. suspends auction of grounded vehicles over low bid price
WEFA 2014: Transcorp Hilton named official hotel
From: Mahmoud Muhammad, Sokoto
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okoto state government has announced indefinite suspension of the planned auction of some grounded vehicles at its Ministries, Departments and Parastatals. The auction of some vehcles littering around office premises was scheduled to commence on Tuesday. It was also learnt that the exercise is being handled by a consortium of consultants and licensed auctioneers under the supervision of the Ministries of Finance, as well as Works. A statement signed by Malam Sani Umar, Senior Special Assistant (media) to Governor Aliyu Wamakko announced the suspension in Sokoto. According to the statement,’’ Gov. Wamakko ordered the immediate and indefinite suspension of the planned exercise, due to his dissatisfaction with the low prices and process.
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he World Economic Forum (WEF) with headquarters in Geneva , Switzerland , has announced that the Transcorp Hilton Abuja will be the official hotel and hospitality partner of the 24th World Economic Forum on Africa (WEFA), which will be held for the first time in Nigeria . The three-day event, scheduled from May 7-10, 2014, is expected to draw over 700 participants from more than 40 countries to host city Abuja , to discuss the continent’s integration agenda and a renewed commitment to sustainable growth and development. Delegates will include regional and global leaders from business, government and civil society. According to Valentine Ozigbo, MD/CEO of Transnational Hotels & Tourism Services Limited, which runs the Transcorp Hilton Abuja and is partly owned by Tony O. Elumelu’s proprietary investment company, Heirs Holdings, the hotel was unanimously selected
after a diligent evaluation of Nigeria ’s hotels’ facilities and services by a special team from WEF. Transcorp Hilton won the hospitality ticket due to its track record of successfully hosting international conferences and events, coupled with its world class facilities and vintage Hilton quality standard of service delivery. “Transcorp Hilton has a proud history of successfully hosting high profile international events and we are honoured to be the official host of the 24th edition of WEFA. The forum presents an unprecedented opportunity for Nigeria to make a strong business case as Africa ’s investment destination of choice, while showcasing our rich culture and tourism potential.” The Coordinating Minister for the Economy and Minister of Finance of Nigeria, Dr Ngozi Okonjo-Iweala, first announced that Nigeria would host WEFA last May at the closing of the 23rd World Economic Forum in Cape Town , South Africa .