-Sam Philip
A leading cocoa processor and agribusiness in Nigeria, Johnvents Industries Limited has announced the successfully repayment of its N9.2 billion Series 7 & 8 Commercial Paper, which further solidified its reputation as a reliable and trusted issuer in the Debt Capital Market.
The company, rated BBB+ by both GCR and Datapro, has continued to demonstrate financial resilience and robust performance in Nigeria’s agribusiness sector.
Since the launching of its commercial paper programme in 2022, Johnvents Industries has redeemed a total of N24.5 billion, demonstrating its strong financial performance and sound business practices.
The redemption of the Series 7 & 8 Commercial Paper, issued to support the company’s growth and liquidity, underscores its commitment to meeting financial obligations promptly.
The company has, in the last three years, leveraged on its deep expertise in agribusiness, particularly cocoa processing, to drive significant growth and establish itself as a key player in the sector.
Johnvents’ success in the commercial paper market, with a total redemption of N24.5 billion, is a testament to its financial discipline and growing influence in Nigeria’s agricultural value chain.
Moreover, in his comment on the successful repayment, the Group Managing Director of Johnvents Group, Mr. John Alamu, the parent company of Johnvents Industries, said: “We are delighted to announce the timely repayment of our Series 7 and 8 Commercial Paper.
“This success reflects Johnvents’ unwavering commitment to financial prudence and reinforces the confidence placed in our organisation by the investing public.
“We are immensely grateful to our stakeholders for their continued trust and support. Johnvents remains steadfast in delivering sustainable value, maintaining the highest standards of corporate governance, and contributing to the growth of Nigeria’s agribusiness landscape.”
Johnvents Industries is currently positioned at the forefront of Nigeria’s agricultural sector, focusing on creating long-term value through sustainable practices, local community development, and innovative solutions.
With ongoing investments in technology and infrastructure, the company is committed to expanding its reach in the global agricultural industry while adhering to its mission of creating sustainable value across the ecosystem.
Edo declares Sept 20 Public Holiday for Governorship Election
-Deborah Akinyosoye
The Edo government has declared September 20 as a publoc holiday to enable workers and residents to travel to their voting areas ahead of the state’s governorship election.
The election is scheduled for September 21 across 18 LGAs in the state.
In a statement on Thursday, Joseph Eboigbe, secretary to the state government (SSG), assured that adequate security arrangements are in place for the conduct of the election.
“This is to enable workers and other electorates to travel to their voting areas ahead of the September 21 governorship election in the state,” the statement reads.
“The government wishes everyone journey mercies and reassures that security measures have been provided to ensure a free, fair, and credible election.”
Nigeria to Secure World Bank $1.5bn loan by September 26
-Deborah Akinyosoye
The federal government is expected to receive a new loan from the World Bank, totalling $1.5 billion.
According to the Washington-based financial institution’s project list, the loan is set to be approved on September 26.
The $1.5 billion will be distributed through three major development projects aimed at improving Nigeria’s economic stability and resource mobilisation capacity.
The projects, targeting crucial sectors such as healthcare, agriculture, and infrastructure, are pivotal for the country’s sustainable development and economic stability.
A breakdown of the projects showed the World Bank will approve $500 million for the first project tagged ‘Nigeria: Primary Healthc…
LNG-Powered Locomotives: Passengers To Expect 60% Slash In Train Fares -Minister
Sam Philip
Nigerians who use rail transportation may likely experience about 60 percent slash in train fares as the locomotives would be retrofitted from diesel to liquified natural gas-powered.
The country’s Minister of Transportation, Senator Said Alkali disclosed on Thursday that the retrofitting of the locomotives had been completed.
Speaking at Idu Railway Station while conducting a test drive of one of the trains in Abuja, the Minister said the trains are now running on 70 percent LNG and 30 percent diesel.
The Minister said: “We are doing is that we want to cut cost.
“When you look at the 70 percent component of the LNG, as against the 70 percent that was used on d…
JUST IN: FG To Jail Private Employers Paying Below Approved Minimum wage
-Deborah Akinyosoye
The Federal Government has called on agencies recruiting for the private sector to adhere to the N70,000 minimum wage, warning that any deviation would not be tolerated.
According to the FG, the new minimum wage is necessary to address the current economic reality, emphasising that no Nigerian worker, whether in government or private employment, should be paid less than the minimum wage.
The Permanent Secretary, Federal Ministry of Labour and Employment, Alhaji Ismaila Abubakar, stated this on Wednesday while speaking at the 13th Annual General Meeting of the Employers Association for Private Employment Agencies of Nigeria, held in Ikeja, Lagos.
Abubakar, who w…
Ex-warlord, Tompolo Bags Maritime University Excellent Award
In a determined bid to recognize High Chief Government Ekpomupolo alias Tompolo contributions towards the growth and development of Nigeria Maritime University (NMU) Okerenkoko, Delta State, the Staff of the institution have honoured him with an Award of Excellence.
Presenting the award on Thursday, Mr. Iseru Ebike, team leader of the University staff lauded Tompolo’s patriotic dedication to development of the institution.
Mr. Ebike, a Lecturer of the University said that Tompolo”s numerous intervention projects in the University helped greatly in the overall development of the institution.
According to Mr. Ebike, “we express our deepest appreciation to you for the numerous intervention pro…
NECO Releases SSCE Results As Varsities Consider Extending Screening Date
Sam Philip
Admission seekers, who have been awaiting the O’ Level results can now heave a sigh of relief as National Examination Council(NECO) on Thursday released the results of the 2024 Senior School Certificate Examinations, SSCE.
According to the council’s record, no fewer 828,284 candidates wrote the examination as internal candidates.
This was put at 60.55 percent of the total candidates, who scored five credits, including Mathematics and English Language.
According to the NECO Registrar and Chief Executive Officer, Prof Dantana Wushishi who spoke at the Council’s Headquarters in Minna, Niger State, the number of candidates who made five credits and above, irrespective of Eng…
