It’s certainly a time for stock-taking as 2022 winds up this week amid frenetic moves by business and economic players to take positions against 2023 which promises to be a year of new beginnings in many respects. Being the eve of a transition to a new government, many fundamental economic decisions were taken this year by the current administration, which at the end of the day affected the operations, performances, and returns on investment of the various businesses in the period under review.
Earlier in the year, Otedola, founder of Zenon Petroleum and former chairman of Forte Oil emerged as the single largest shareholder of First Bank when his equity stake rose to 7.5 per cent although a process of gradual divestment has brought his equity stake down to 5.25 per cent. The policies of Naira Redesign and cash withdrawal limits were also put in place to frustrate promoters of other vices like kidnapping and armed robbery, among others.The Kogi State Governor, Yahaya Bello’s combative posture on private investments raised the dust in the year under review.
In appreciation of his entrepreneurship and philanthropy, Ovia bagged the award of the Commander of the Federal Republic from President Muhammadu Buhari.Komolafe is the chief executive officer of the Nigerian Upstream Petroleum Regulatory Commission . First, he has domestic airline operators to contend with as they frowned at some issues about the choice of a technical partner for the proposed airline and certain conditions attached.
Against all odds, he was able to champion reforms in the upstream sector, sustain oil output, boost its subsidiary, implement the National Gas Expansion project, AKK pipeline project, NLNG Train 7 FID, facilitate power projects, efficient crude oil lifting contracts and ultimately instil transparency in the corporation.In 2022, Gumel, the Chairman of the Nigerian Sovereign Investment Authority was very active in the investment, banking and agricultural sectors of the economy.
She declared open, her 22-floor edifice-FAMFA Towers, said to cost over N60 billion this year. The property was said to have been self-financed by the oil tycoon with no loans from any bank.Onyema, the Chairman and CEO of Air Peace. When Allen Onyema conceived the idea of floating an airline, his primary vision was to create jobs. His secondary focus was to birth a new ideology of excellence in the aviation industry, and his tertiary goal was to put Nigeria on the global aviation map.
In the latter part of the year, BUA Foods listed N18 billion shares on the main board of the Nigerian Exchange Limited .
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