Monday November 24th, 2014
Monday November 24th, 2014
Latest

Nigeria still 4th on return on investment ratings, power, infrastructure top list – Aganga

  /   in Business 9:16 pm   /   Comments

Foreign Partner, Midland Galvanizing Limited (MIDGAL)  Mr. Rashmi Chandaria,  Minister for Finance, Dr. Segun Aganga,  Deputy Governor, Ogun State, Alhaja Salimot Badru, at the commissioning of the First Phase of the 400,000 metric tons Steel Cold Rolling Mill Factory in Abeokuta, Ogun State capital on Saturday.

Dr Olusegun Aganga, the Minister of Industry, Trade and Investment, on Sunday said Nigeria still ranked fourth in the global ratings on nations with high returns on investment.

Read More →
Latest

We have developed 50 cassava varieties — Egesi

  /   in Business   /   Comments

As an Assistant Director and head of the cassava breeding team at the National Root Crops Research Institute, Umudike, Chiedozie Egesi has led efforts at developing and releasing to farmers improved varieties of cassava including pro-vitamin A cassava. His research activities involve the use of cross-cutting biotechnology tools in the genetic improvement of cassava including transgenic technologies. Chiedozie supports several African NARS cassava breeding programs in developing adaptive breeding schemes. He worked previously as a university teacher and a yam breeder and has participated in the development of several yam varieties.In this interview, he talks about the various research works his team has carried out on cassava, GMOs and the need for bio-safety law in Nigeria

Read More →
Latest

Going to the bond market ‘ll mortgage Abia future – Dr Nto, Finance commissioner

  /   in Business   /   Comments

Dr Phillip Nto

World Bank Consultant and Abia State Finance Commissioner, Dr Phillip Nto, in this interview, speaks, among other issues, on how the state is coping with dwindling monetary inflows and why Governor Theodore Orji is reluctant to go to the bond market like many other governors.

Read More →
Latest

Rice hits N10,000 per 50kg bag at Lagos market

  /   in Business 12:09 pm   /   Comments

ricepix-new

The price of a 50-kilogramme bag of imported rice hits N10,000 at the Mile 12 market in Lagos, for the week ending Friday, Nov. 21.

Read More →
Latest

Petroleum Minister Announces Injection of Additional 2.5bcfd of Gas to National Grid

  /   in Business   /   Comments

L-R; GMD NNPC, Dr. Joseph Thlama Dawha, CBN Governor Mr Godwin Emefiele CON, Minister of Petroleum, Mrs Diezani Alison Madueke, Minister of Power, Prof Chinedu Nebo, and Chairman NERC Representatives Commissioner Eyo Ekpo as HMPR, Minitser of Power,xCBN Governor, Chairman NERC, CEOs of IOC and NNPC GMD Sign MoU on Gas Supply at the Transcorp Hilton Abuja. PHOTO; SUNDAY AGHAEZE. NOV 18 2014

T he Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has announced an additional volume of 2.5 billion cubic feet per day (bcfd) of gas to the national grid from now till 2017 under a renewed medium term gas supply commitment from the various gas suppliers.

Read More →
Latest

Stiff competition as BoConcept unveils furniture company in Lagos

  /   in Business   /   Comments

L-R:CEO, BoConcept, Charlotte Obidairo, Danish Consular General to Nigeria, Per Christensen and  company Director, Aisha Oyebode, during the company’s unveling of its first Lekki office, recently in Lagos.

While some investors are running away from Nigeria, more are tapping the huge business opportunities abound in the country, kudos to a Danish furniture company, BoConcept as it unveils its first spacious 600m2 store in a highbrow area of Lekki Phase I as part of its continued world-wide expansion of first class furniture business in more than 60 countries.

Read More →
Latest

Inside the world of Sahara Group MD

  /   in Business   /   Comments

tonye-237x300

By Florence Amagiya It is one in a million occurrences that a young man would be given a contract worth billions of naira to execute and he would do the job without diverting the fund for personal use. Honesty as a virtue is rare among today’s youths, because the youths lack discipline and they are

Read More →
Latest

Naira value dips further at trading segments

  /   in Business 6:18 pm   /   Comments

Emefiele

The Naira on Friday depreciated further against some major international currencies at the official, parallel and black markets.

Read More →
Latest

FG to link all state capitals by rail service,says Jonathan

  /   in Business   /   Comments

President Goodluck Jonathan Being Welcomed By Nigerians During His Arrival For The Honourary International Investor Council (Hiic) Meeting On Thursday Night

President Goodluck Jonathan on Friday expressed Federal Government’s commitment to linking all the state capital cities to the rail service in order to boost the country’s economy through rail transportation.

Read More →
Latest

Nigeria attracts N800bn private sector investments into agric sector

  /   in Business   /   Comments

Akinwumi Adesina

The Federal Government has said that it attracted $5.6 billion (about N896 billion) private sector investments into the agricultural sector from 2012 to current year.

Read More →
Latest

Pirates, oil thieves threatening our lives — NIMASA boss

  /   in Business   /   Comments

* Lekki model sea port

DIRECTOR General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Patrick Akpobolokemi, has said that the lives of officals of the agency are being threatened by pirates and oil thieves who have escaped prosecution.

Read More →
Latest

CMC seeks increased local investors’ participation in stock market

  /   in Business   /   Comments

Nigerian-Stock-Exchange-(NS

Capital Market Committee, CMC, has called on domestic investors to participate more in the Nigerian capital market and not allow the foreign investors dominate the market.

Read More →
Latest

Biotech will improve our agricultural productivity— panelists

  /   in Business   /   Comments

Agric-date-palm

The Nigeria Chapter Coordinator, Open Forum on Agriculture Biotechnology in Africa (OFAB), Mrs. Rose Gidado, has said that Nigerian farmers and the country stand to gain from the adoption of biotechnology in the country.

Read More →
Latest

Shell completes N96bn sale of OML 24 to Newcross

  /   in Business   /   Comments

refinery-7

Shell Petroleum Development Company of Nigeria Limited (SPDC), yesterday, said it has completed the sale of its 30 per cent stake in Oil Mining Lease (OML) 24 and other related facilities to Newcross Exploration and Production Limited for $600 million, about N96 billion.

Read More →
Latest

FG launches commercial 10% composite cassava flour

  /   in Business   /   Comments

Cassava farm

In actualisation of the Federal Government’s cassava transformation agenda and the cassava inclusion policy in bread flour, the minister of Agriculture, Dr. Adesina Akinwumi, launched the first commercial 10 per cent composite cassava flour products in the country during the week.

Read More →
Latest

Automotive Policy: Stakeholders in haulage and logistics seek consideration of interests

  /   in Business   /   Comments

Sea-port

STAKEHOLDERS in the haulage and logistics sub-sector have called on the Federal Government to factor in their operational interest as activities of automotive policy take shape.

Read More →
Latest

How Nigerians can benefit from online Black Friday sales

  /   in Business   /   Comments

Black Friday is the most celebrated shopping day in history. Everything and everyone is up for a bargain, it is simply a day when you see the craziest discounts on various products from mobile, electronics, home appliances and fashion to beauty products. For many it has become a day when people save to do all their shopping for the year.

Read More →
Latest

Seme Customs collects N973m in October

  /   in Business   /   Comments

Minister during  the visit

The Seme Area Command of the Nigeria Customs Service has collected a total of N973,540,612.78 in the month of October 2014 which is the highest monthly revenue collected this year, even as it has stepped up anti-smuggling measures as Christmas celebrations approaches.

Read More →
Latest

Access to credit and Nigeria’s economic development

  /   in Business, Viewpoint   /   Comments

economy

THERE is broad agreement that Nigeria with over 160 million people, an entrepreneurial spirit, natural resources, and an economic policy framework that looks increasingly market – driven has a promising future. In the last few years as Nigeria has come into the global development picture with GDP growth averaging 6-7.5 per cent a year, it has become fashionable to look at the unlocking of Africa’s biggest economy. Only in April, a rebasing of the country’s economy captured economic sectors like entertainment and fashion and pushed the country’s GDP to the fore on the continent.

Read More →
Latest

ICT sector has created 12m jobs in two years — NITDA DG

  /   in Business 12:05 am   /   Comments

Peter-Jack-pic

The Director General of the National Information Technology Development Agency, NITDA, Peter Jack, has disclosed that that the nation’s Information and Communication Technology, ICT, sector has boosted the federal government’s effort in job creation with the creation of about 12 million jobs from 2012 to date.

Read More →
Latest

Stop placing unrealistic targets on marketers, CBN tells banks

  /   in Business   /   Comments

Mr Godwin Emefiele answering questions  during his screening by the Senate for  Central Bank Governorship in Abuja on Wednesday

The Central Bank of Nigeria, CBN has warned commercial banks operating in the country against placing unrealistic deposit targets on their marketers.

Read More →
Latest

BoI reduces unemployment by 793,428

  /   in Business   /   Comments

Job seekers on the pitch of Abuja National Stadium appling for work with immigration departement

The Bank of Industry says its empowerment funds have so far taken a total of 793, 428 Nigerians off the street as they have been gainfully employed across four key sectors of the economy in the last three years.

Read More →
Latest

LCCI lauds NAFDAC achievements

  /   in Business 12:36 am   /   Comments

NAFDAC DG, Paul Orhi.

The Lagos State Chamber of Commerce and Industry, LCCI, at the opening ceremony of the Lagos State International Trade Fair lauded the National Agency for Food Administration and Control, NAFDAC, for its giant strides in the promotion of standards amongst manufactures of foods and drugs in Nigeria.

Read More →
Latest

NSE signs MOU with London Stock Exchange

  /   in Business   /   Comments

File photo: The  floor of Stock exchange

In the wake of volatile global market, Nigeria continues to attract significant foreign investors interest, the recent being from United Kingdom who sent delegates to Nigeria.

Read More →
Latest

Ghana indicts Nigeria for breach of gas supply contract

  /   in Business   /   Comments

gas

Ghana, yesterday, accused Nigeria of breaching the agreement between both countries to supply gas to Ghana, a situation that has worsened the country’s power supply.

Read More →
Latest

What the next governor of Lagos State should do for us (6)

  /   in Business   /   Comments

*Fashola

We return to the heading we used for the first two parts of this series so as to remind us of what we want to achieve with the series.

Read More →
Latest

Flour Mills eyes growth with Unicem’s divestment proceeds

  /   in Business   /   Comments

Flour Mills of Nigeria Plc (FMN) has disclosed that proceeds from its ongoing divestment from United Cement Company of Nigeria Limited, Unicem, will be utilized towards funding the rapid growth in its core food and agro-allied businesses.

Read More →
Latest

Why foreign investors are leaving Nigeria Stock Exchange

  /   in Investors Forum 5:36 pm   /   Comments

Oscar-Onyema-2

The Nigeria Stock Exchange (NSE) recently experience sharp decline in market capitalization due to foreign investors exit from the market in apprehension of the impact of the decline in price of crude oil on the naira exchange rate.

Read More →
Latest

Investment One introduces online -real time trading platform

  /   in Investors Forum   /   Comments

Investment One Financial Services Limited, through its subsidiary Investment One Stockbrokers International Limited, has introduced EasyTrade, an online real time trading platform, that enables its users buy and sell stocks on the Nigeria Stock Exchange with real-time processing functionality.

Read More →
Latest

Nigeria loses gas investments to other African countries — Report

  /   in Energy   /   Comments

gas

Nigeria remains Africa’s largest gas consumer and producer, but the focus for new gas projects is shifting to the east coast and to the huge offshore discoveries in Mozambique and Tanzania, the World Energy Outlook Special report 2014 just released has stated.

Read More →
Latest

Top 10 performing stocks

  /   in Investors Forum   /   Comments

File photo: The  floor of Stock exchange

On the top 10 performing stocks last week were the shares of Ikeja Hotels Plc, Cadbury Nig. Plc, Transnational Corporation of Nigeria (Transcorp Plc), Oando Plc, Unilever Nig. Plc and PZ Cusson Plc.

Read More →
Latest

Extractive industry: NMGS eyes increased contribution to economic devt 

  /   in Energy   /   Comments

File Photo

The Nigerian Mining and Geosciences Society (NMGS) has promised to ensure that the entire gamut of the Nigerian extractive industry gets a boost for an increased contribution to the growth of the national economy

Read More →