Thursday 1st June 2017

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Heirs Holdings Board Appoints Nnorom Group CEO Obinna Chima The Board of Heirs Holdings yesterday announced the appointment of Mr. Emmanuel Nnorom as Group Chief Executive Officer. Nnorom previously served

as the chief executive of Heirs Holdings’ affiliate Transnational Corporation of Nigeria Plc and will join the Heirs Holdings’ Board, reporting directly to the Group Chairman, Mr. Tony O. Elumelu. The appointment

will take effect from today. According to a statement issued by Heirs Holdings, as Group CEO, Nnorom will provide day-to-day leadership at the company and will be responsible for execution of the group strategy for the

proprietary investment firm, whose portfolio of investments includes power, oil and gas, financial services, hospitality, real estate and medical services, with a pan-African footprint of 20 countries. On the new appointment,

Elumelu, stated: “Emmanuel is a highly respected member of the Heirs Holdings executive management team and his success at Transcorp, with its multi-sector portfolio and his Continued on page 12

Kidnapped Kano House Member Regains Freedom... Page 10

Nnorom

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Ovia’s Quantum Petrochemicals Will Transform Nigeria, Says Group...

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With N49tn Import Bill, FG Looks Inwards for Goods and Services

Partners M&B to produce local vaccines Says no cause for worry over Buhari’s health

Omololu Ogunmade in Abuja The federal government yesterday said Nigeria had spent a whopping N49 trillion on imports in 17 years, adding that it has resolved to chart a new course for the country by saving N3.6 trillion in five years through the take off of a new innovation plan targeted

at Nigeria’s industrialisation. It also said that there was no cause to worry over President Muhammadu Buhari’s health, adding that he was in safe hands in London where he is receiving treatment for an undisclosed illness. Rising from its weekly Continued on page 10

Equities Market Gains N1.3tn in May on Sustained Investor Confidence

Oil prices at three-week low on increased Nigeria, Libyan output Goddy Egene and Ejiofor Alike with agency reports The Nigerian equities market posted record gains in the month of May, growing N1.285 trillion or 14.4 per cent by market capitalisation on sustained investor demand for Nigerian stocks. This came as oil prices fell to a three-week low yesterday

on news that Libyan output was recovering from an oilfield technical issue, while sustained rise in Nigeria’s output was posing a challenge to efforts by the Organisation of Petroleum Exporting Countries (OPEC) to curb output. The Nigerian stock market shrugged off its losses last year Continued on page 10

MATERIALS FOR DISPLACED PERSONS… Gencos: Days of Unruly Antics RELIEF Senate President, Dr. Abubakar Bukola Saraki (centre), presenting bags of rice and other food items to internally displaced (IDPs), on his right is Senate Leader, Senator Ahmad Lawan, when Saraki led a Senate delegation on a visit to the IDP by Discos are Over... Page 13 persons camp at Kuchigoro, near the Games Village, Abuja … yesterday


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Thursday 1st June 2017 by THISDAY Newspapers Ltd - Issuu