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UNILEVER Nigeria Targets N3bn Net Profit In Q3,

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16 years ago

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Board of Unilver Nigeria Plc has estimated that distributable earnings of the conglomerate would be about N3 billion by the third quarter, placing it in good stead to sustain significant growth that has characterized its reports in recent years.

In the latest window on operations of the conglomerate, directors at the weekend indicated that it could record post-tax profit of N2.87 billion on total sales of about N32.75 billion during the nine-month period ending September 30,2009.

The latest forecasts build on earlier projections indicating that net profit after tax could be about N2.01 billion by the six-month period ended June 30, 2009, indicating earnings per share of some 53 Kobo. The conglomerate had estimated that total sales would be about N20.93 billion during the six-month period while higher profit margin expected to push pre-tax project to N2.95 billion, about two-third of pre-tax earnings for the whole of 2008.

The latest forecasts indicate possible earnings per share of 76 kobo, putting the company closer to its three digit dividend target.

Unilever Nigeria’s cash payout rate was about 99 percent for the 2008 business year having paid 68 kobo to shareholders out of the year’s earnings per share of 69 kobo.

Apostle Hayford Alile, Chairman, Unilever Nigeria Plc, has said the conglomerate might round up cash payouts to three-digit value this business year as shareholders as it consolidates business growth.

He said the Unilever Nigeria would strive to sustain its progressive cash payout trend and possibly move from current two-digit rate to three digits this business year.

Following impressive performance in 2008, unilever Nigeria had distributed about N2.6 billion to shareholders, representing a dividend per share of 68 kobo. The cash payout per share of 68 kobo represented an increase of 172 percent on 25 kobo paid for 2007.

Alile said the company would translate envisaged growths in 2009 into higher dividends for shareholders.

According to him, Unilever Nigeria as well-positioned to sustain its impressive growth trend irrespective of the challenging trading environment.

He said the company would continue to focus on market growth in its leading categories while ensuring smart material cost management that enables the company to provide Nigerian Consumers with brands that offer a good value-for-money proposition.

Audited report and accounts for the year ended December 31, 2008 showed that turnover rose from N33.99 billion in 2007 to N37.38 billion in 2008. Pre-tax profit rose by 106 percent from N2.0 billion in 2007 to N4.1 billion in 2008. Profit after tax grew by 141 percent to N2.6 billion in 2008compared with N1.1 billion in 2007.

The report showed that the intrinsic profit-making capacity of the company doubled in 2008 with pretax profit margin rising from 5.8 percent in 2007 to 11 percent in 2008. Alile assured that the conglomerate was poised to sustain its upwardly growth pattern as it continues to improve underlying margins, distribution and administrative expenses.

Interim report and accounts of Unilever Nigeria for the three months ended march 31, 2009 showed single-digit growths in sales and profit. The report showed that turnover rose by 8.1 percent to N10.43 billion in first quarter 2009 as against N965 billion recorded in comparable period of 2008. Profit before tax inched up by 3.73 percent from N1.58 billion in first quarter 2008 in N1.64 billion in first quarter 2009. Profit after tax also rose marginally by 4.37 percent to N1.12 billion in 2009 as against N1.08 billion in recorded in corresponding period of 2008.

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NIMASA Commits To Creating Enabling Environment For Maritime Business 

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7 days ago

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March 5, 2025

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has affirmed that it is taking strategic steps to enhance local participation and encourage investment in the maritime sector under the supervision of the Ministry of Marine and Blue Economy.
The Director General of NIMASA, Dr. Dayo Mobereola, who disclosed this recently while receiving the Executive Members of the Nigerian Merchant Navy Officers and Water Transport Senior Staff Association, reaffirmed the Agency’s  commitment to fostering a level playing field and creating an enabling environment for businesses in Nigeria’s maritime sector.
Dr. Mobereola revealed that NIMASA is deepening its collaboration with the Nigerian Content Development and Monitoring Board (NCDMB) to explore policies that will boost indigenous involvement and strengthen Nigeria’s maritime sector.
“The Honourable Minister of Marine and Blue Economy is committed to encouraging indigenous players to invest more in Nigeria’s maritime industry. Issues such as national carriers and trade terms remain top priorities under this administration.
“Our focus is to create an enabling environment where private investors can thrive. In this regard, we have initiated discussions with the NCDMB and NNPC Limited to address these critical matters”, he stated.
He said NIMASA remains committed to fostering strategic partnerships that will enhance local investment, create jobs, and drive sustainable growth in the maritime sector.
In response, Comrade John Aleakhue Okpono, Secretary General of the Merchant Navy Officers and Water Transport Senior Staff Association, emphasized the need for closer collaboration between NIMASA and the Merchant Navy.
He also urged the Agency to review waiver clauses to ensure more opportunities for Nigerian seafarers.
Stories by Nkpemenyie Mcdominic, Lagos
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FG Inaugurates Special Committee Against Boat Accident 

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7 days ago

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March 5, 2025

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Towards enhancing safety on Nigeria’s inland waterways, the Federal Government, through the Minister of Marine and Blue Economy, Adegboyega Oyetola, has inaugurated a Special Committee on the Prevention of Boat Mishaps in Nigeria.
According to a statement on by the spokesman, National Inland Waterways Authority (NIWA), Suleiman Makama, the event, which was held at the Ministry’s Conference Room in Abuja, confirmed crucial steps taken to address the recurring challenges of boat accidents across the country.
In his address, the Honourable Minister emphasized the urgent need to stem the tide of tragic boat mishaps, which have resulted in significant loss of lives and properties.
He described the country’s waterways as vital to commerce, transportation, and livelihoods, stressing that their safety and efficiency are paramount to the development of Nigeria’s blue economy.
He noted that the establishment of this committee aligns with the 2024 International World Maritime Day theme, “Navigating the Future: Safety First”.
“The task before us is daunting, but with unwavering commitment, we can eliminate boat mishaps and ensure that our waterways remain safe, navigable, and prosperous for generations to come”, Oyetola stated.
The committee comprises key stakeholders, including state government representatives, the Association of Boat Operators in Nigeria, marine safety experts, and academics.
It will be chaired by the Managing Director of the National Inland Waterways Authority (NIWA), Mr. Bola Oyebamiji, while Mr. Adams Offie, Deputy Director of Inland Waterways at the Ministry, will serve as Secretary.
The committee is tasked with conducting an in-depth review of commercial boat operations in Nigeria, identifying the root causes of boat mishaps, and proposing sustainable solutions.
In his acceptance speech on behalf of the committee, Oyebamiji assured the Minister on the dedication of members to deliver on the assignment.
He emphasized that safety on Nigeria’s inland waterways is non-negotiable, adding that NIWA, under the leadership of the Honourable Minister, has been refocused to uphold its mandate without compromise.
Acknowledging the Honourable Minister of Marine and Blue Economy for his proactive leadership, Oyebamiji noted that the establishment of the committee represents a critical step in addressing the persistent safety challenges in inland water transport.
“This is another solution-driven initiative aimed at eliminating boat mishaps on our waterways. I assure you that the confidence reposed in this committee will not be misplaced.
“At NIWA, this is an opportunity for us to intensify our efforts in reducing marine accidents to the barest minimum. On behalf of my fellow committee members, we pledge to work diligently and with utmost focus on the assigned terms of reference.
“Safety on our inland waterways is non-negotiable. NIWA has been refocused to ensure the highest safety standards, and this committee will work diligently to address the causes of boat mishaps and find lasting solutions,” Oyebamiji said.
The committee has been tasked with evaluating the root causes of boat accidents and recommending lasting solutions to enhance safety and operational standards.
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LASG Arrests Illegal Dredgers  … Issues Stop Work Order

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7 days ago

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March 5, 2025

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The Lagos State Government, through the Ministry of Waterfront Infrastructure Development, has launched a massive clampdown on illegal dredgers operating in the State, ordering them to stop work immediately.
This exercise, which was carried out by the officials of the Ministry of Waterfront Infrastructure Development, is aimed at curbing environmental degradation and promoting sustainable development across the waterfront schemes located across the coastal regions of the metropolis.
According to a statement, the enforcement operation, led by the Commissioner for Waterfront Infrastructure Development, Hon. Ekundayo Alebiosu, alongside members of his team, raided several illegal dredging sites which were subsequently shut down by the officials of the Ministry.
Some suspected dredging operators were arrested and a stop-work order was served on erring dredgers for non-compliance with laid-down regulations of the State Government.
Alebiosu warned the operators that failure to comply with extant laws guiding dredging activities could have dire effects and will result in severe penalties, including total closure of the sites.
Reacting to the claim that Dredgers are the major cause of environmental degradation in the state, including erosion and flooding, the Commissioner emphasised the need for dredging activities to be conducted lawfully to preserve roads, public infrastructure, and wetlands.
He explained that the State Government has vowed to streamline the activities of dredgers in the state to meet acceptable international standards.
“The Lagos State Government’s clampdown on illegal dredgers is a significant step towards protecting the environment and promoting sustainable development in the state.
“We will continue to carry out surveillance and raids across the coastal areas to ensure that the activities of a few don’t impact the lives of law-abiding citizens negatively”, Alebiosu stated.
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