FINANCE - 21 MAY 2020

DB: Petrol marketers; BUA's profit; Lagos doctors

DB: Petrol marketers; BUA's profit; Lagos doctors
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PPPRA clears petrol marketers to import fuel


The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced that qualified petrol marketers are now allowed to import petrol into Nigeria. This is in line with NNPC’s efforts to liberalise the market for petroleum products. In January 2018, former Minister of State for Petroleum, Ibe Kachikwu, and petrol marketers agreed to allow NNPC to be the sole importer to alleviate the recurring fuel scarcity in the country at the time.


Real Estate

BUA announces 69% PBT increase in 2019


BUA Cement Plc, Nigeria’s second-largest cement company, announced a 69% increase in profit before tax for 2019.  ₦39 billion (2018) to ₦66 billion (2019), & 48% revenue increase; ₦118 billion (2018) to ₦175 billion (2019). Increase in revenue partly resulted from transactions with two major customers, which it sold ₦47 billion worth of cement to.



Doctors begin strike in Lagos


Doctors in Lagos went on strike from Wednesday evening due to alleged police harassment faced on their way to treat patients during the curfew. Medical practitioners are exempted from the curfew from 8pm to 6am. However, the Nigerian Medical Association union said its members are still being harassed, and it has become unsafe for practitioners to continue. The Nigerian Police Force responded saying all police commissioners have been told to enforce the exemption.




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