Tuesday March 31st, 2015
Tuesday March 31st, 2015
Latest

Top 10 performing stocks

  /   in Investors Forum 12:08 am   /   Comments

File photo: The  floor of Stock exchange

On the top 10 performing stocks last week were the shares of Honeywell Flour Mill Plc, Glaxosmithkline Consumer Nig. Plc, Costain (West Africa) Plc, Aiico Insurance Plc, Wema Bank Plc and Champion Breweries Plc.

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Chevron, others invest in eradication of tuberculosis in Nigeria

  /   in Energy   /   Comments

doctors1

Chevron Nigeria Limited, its affiliate, Star Deep Water Limited and partners in the Agbami project, have further increased their investment in the eradication of tuberculosis in the country to boost sound healthcare delivery in Nigeria, with the donation of a fully equipped chest clinic to Katsina state.

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Chinese firm to set up $50m steel plant

  /   in Energy   /   Comments

ABUJA — A Chinese firm, Tongyi Allied Mining Limited, said it planned to set up a $50 million steel smelting plant in Nasarawa State.

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Economy recorded strong merchandise trade growth in 2014 — NBS

  /   in Business 12:55 am   /   Comments

Market

The total value of Nigeria’s external merchandise trade at the end fourth quarter 2014 was N5.7 trillion, indicating that exports outperformed imports leading to visible trade surplus. This was, however, 11.9 per cent lower than the value (N6.5 trillion) recorded in the preceding quarter, according to the report released at the weekend by the National Bureau of Statistics (NBS).

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Rising rent, vacant houses, homeless tenants

  /   in Business   /   Comments

*Windows made of PVC materials

In spite of the huge housing deficit in Nigeria, there are increasing cases of unoccupied houses in major cities across the country. Experts blamed this mostly on soaring cost of renting houses in places such as Lagos, Port Harcourt and Abuja, which are beyond the reach of potential tenants. Other reasons fingered for this paradoxical situation, especially in high brow and middle brow areas of the cities, are high cost of building material, land, lack of infrastructure facilities, inability to access fund, among other reasons.

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How to invest in real estate

  /   in Business   /   Comments

A Housing Estates in Lagos

Real estate investment is considered to be one of the safest, due to the appreciating values of property around the world. Interestingly, when compared to other forms of investments, the real estate depreciation rate is very low. This is ideal for prospective investors to generate profit through rents or leases of varying lengths.

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Citibank Nigeria commemorates global money week 2015

  /   in Business   /   Comments

*File Photo

Citibank Nigeria Limited joined the rest of the world to commemorate the annual Global Money Week. The event which held at Aunty Ayo Girls’ Comprehensive Senior Secondary School, Lagos featured a fully interactive session on financial literacy, titled “Growing Your Money”.

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Brokers hinge success of businesses on professionalism

  /   in Business   /   Comments

market-2

President of the Nigerian Council of Registered Insurance Brokers, NCRIB, Mr. Ayodapo Shoderu, has said the foundation of any business behavior is hinged on moral principles and practices of those people involved and the standard set for or by the profession. Shoderu made the statement at the 2nd Annual Conference and Exhibition of the Ghana Insurance Brokers Association (GIBA).

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WIMBIZ: Imoukhuede urges women to be visionary

  /   in Business   /   Comments

women-politics

President of Council of the Nigerian Stock Exchange, Mr. Aigboje Aig-Imoukhuede, weekend, urged women to have a vision and game plan so as to thrive in a challenging environment. He said this during the Women in Management, Business and Public Service (WIMBIZ) Annual Lecture themed: “Thriving in Tough Times: Navigating Challenging Environments.”

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CSR: Rosabon empowers SMEs in Lagos, Rivers

  /   in Business   /   Comments

File photo

Rosabon financial services, a development finance institution has empowered over 1,500 small and medium enterprise, SME operators spread across Lagos and Rivers States. This was part of the company’s 2015 Corporate Social Responsibility initiatives. The SME operators were empowered with umbrellas. Rosabon said the gesture was “to encourage the hard working men and women of the marketplace by ensuring that they are well protected against the elements.”

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‘Technology, key to diversification of Nigerian economy’

  /   in Business   /   Comments

ATM

Experts have identified technology as one of the key component in the diversification of the Nigeria economy. They reached this consensus in Lagos at the Signal Alliance Customer Week Workshop organized in conjunction with Cisco.

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Non-oil export drops by 9%, says NEPC

  /   in Business   /   Comments

The Nigerian Export Promotion Council (NEPC) has said that a 9 percent decline from $2.970 billion to 2.714 billion was recorded in the country’s non-oil export between 2013 and 2014. Meanwhile, with the dwindling oil revenue coupled with the quest to increase the basket of exportable products from Nigeria, the council has concluded plans to launch the One State One Product (OSOP) initiative targeted at developing and promoting one product for export per state.

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Alleged $20B Missing Oil Money: Sanusi evasive, got his facts wrong— Allison-Madueke

  /   in Business, Interview 2:09 am   /   Comments

Nigeria's Minister of Petroleum Diezani Allison-Madueke

Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke, in this interview, speaks on issues in the oil and gas sector including the subsidy regime, local content, the alleged billions missing oil revenues, and the controversial N10billion allegedly spent by her to hire planes.

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‘The gains of 50 percent slash in electricity tariff’

  /   in Business   /   Comments

Bassey James

“Government’s decision to slash power tariff is a clear demonstration of it plan to build local capacity. This implies that government is looking inward to stimulate tangible growth in the manufacturing sector of the economy. The good thing is that government is putting measures in place to revamp manufacturing industries across the country. The policy in electricity reduction now is a deliberate attempt by government to enhance entrepreneurial development and wealth creation in the economy”.

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Falling oil price: Pathway to diversification

  /   in Business 7:56 pm   /   Comments

crude-oil-pipe-702x336-436x336

One of the key indicators for measuring overall development in the world is the Human Development Index (HDI). This is a composite index based on three indicators: longevity, as measured by life expectancy; education attainment, as measured by a combination of adult literacy and the combined gross primary, secondary and tertiary enrolment ratio; and standard of living, as measured by gross domestic product (GDP) per capita.

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Telecom: Time to declare it as Critical National Infrastructure

  /   in Business   /   Comments

Telecom-mast

Oluwakemi Babatunde is a fish trader based in Epe, a small town about 40 Kilometers from mainland Lagos. She’s been in the fish trade for ages, having learnt the ropes from her mother who was also a fish trader, with clients in diverse places that included Lekki and Ajah in Lagos. Babatunde says that today, things are radically different from what they were in the old days.

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Petroleum Minister recounts achievements in Oil and Gas sector

  /   in Business   /   Comments

Alison-Madueke-oil

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has said that the upstream sector has recorded a renewed impetus in cost management, compressed contracting cycles and a reinvigorated pursuit of the passage of the Petroleum Industry Bill (PIB). Mrs. Alison-Madueke stated this while delivering her keynote address at the 2015 Nigeria Oil and Gas Conference and Exhibition with the title “State of Industry: Achievements and future Direction” at the International Conference Centre in Abuja.

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NNPC GMD flags off NOG 2015

  /   in Business   /   Comments

NNPC-GMD

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Joseph T. Dawha has flagged off the Nigerian Oil and Gas Conference and Exhibition, 2015 edition. Dr. Dawha while flagging off the Conference at the International Conference Centre in Abuja said the NOG is now a flagship event for the Nigeria Oil and Gas Industry.

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Nigeria gears up to become biggest, largest fertilizer exporter by 2017

  /   in Business   /   Comments

Fertilizer

The Nigerian National Petroleum Corporation (NNPC) has said plans are underway to reposition the Country to become the regional hub of gas and largest fertilizer exporter in Africa by 2017. The Group Executive Director, Gas and Power of the (NNPC) Dr. David Ige stated this during an interview in Abuja.

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The gains of Nnpc Transformation

  /   in Business   /   Comments

NNPC

When the Nigerian National Petroleum Corporation, NNPC, started its Transformation journey in 2009, the aim was for the Corporation to Realign Its Processes And Procedures To Enable It Remain As A Business Concern In The Ever Dynamic Oil And Gas Sector. Few Years Down The Line, The Nnpc Has Recorded Tremendous Gains In This Regard. Today, Nnpc Corporate-Wide Transformation Is On Course With The Change Of Behavior And Change Of Culture By All Members Of Staff.

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Credit management: ICA advocates improved legal, business framework

  /   in Business 11:59 pm   /   Comments

naira money

For effective balancing of credit management in the Nigerian economic environment, the newly elected governing council, Institute of Credit Administration (ICA) has reinstated the council resolve to push for improved legal and business framework that would encourage credit availability, repayment and timely transaction payments. The President/Chairman, Adetunji Oyebanji who made this declaration in a media chat in Lagos, assured that the move would help business entities particularly SMEs to grow.

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RSSSL: Election violence threat to Nigeria’s economy

  /   in Business   /   Comments

market-2

Real Strikers Security Services Limited in conjunction with the Nigeria Security and Civil Defence Corps (NSCDC), Association of Licensed Private Security Practitioners of Nigeria (ALPSPN) had commenced nationwide security awareness on electoral violence prevention and homeland security measures, saying violence during elections will destroy Nigeria’s economic future.

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BoI charges estate valuers against placing false values on assets

  /   in Business   /   Comments

bank

The Bank of Industry(BoI) has enjoined Estate Surveyors and Valuers in the country to adhere to ethical guidelines in their profession by not placing false values on companies assets. The bank also confirmed that it has disbursed a total of N780 billion of intervention funds to industries in the real sector of the economy last year. Speaking during the yearly conference of the Nigerian Institution of Estate Surveyors and Valuers(NIESV) in Osogbo, Osun State, Rasheed Olaoluwa, Managing Director of the bank, said “As a bank, we depend on your judgment.

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Indigenous ship owners move against NIWA over double taxation

  /   in Business   /   Comments

ship

THE Nigerian Indigenous Ship owners Association of Nigeria, NISA, has concluded plans to move against the proposed re-registration of vessels by the management of the National Inland Waterways, NIWA , a development they say will lead to double taxation. Speaking at the end of its quarterly meeting, President of NISA, Captain Niyi Labinjo said that the Nigerian Maritime Administration and Safety Agency, NIMASA, is the only agency empowered by law to register vessels in Nigeria.

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Access Bank to build capacity in oil & gas sector

  /   in Business   /   Comments

Aigboje Aig-Imoukhude, MD Access Bank

As part of its continued drive to improve local content in the nation’s oil and gas industry, Access Bank Plc has thrown its weight behind the 2015 Nigeria Oil and Gas Conference which is scheduled to hold in Abuja between March 16 and 19, 2015. The conference is the largest business network platform for players in Nigeria’s oil and gas sector. The Executive Director, Corporate and Investment Banking Division, Access Bank Plc, Elias Igbinakenzua said that the Bank is delighted to be a part of the Oil and Gas Conference , adding that its involvement in the sector was in line with the commitment to contribute to the economic growth of the country.

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Pearl awards: SEC wants corporate governance included in selection process

  /   in Business   /   Comments

NIJ-AWARDS

The Securities and Exchange Commission (SEC) has advised the board of governors of the Performance, Earnings and Returns Leadership (Pearl) Awards Nigeria to include good corporate governance in its criteria to reward quoted companies in Nigeria. The commission also assured of its readiness to collaborate with the Pearl Awards in encouraging companies for high performance.

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Dangote calls for investments in real sector to save economy

  /   in Business   /   Comments

Aliko Dangote

DANGOTE Group has called on private investors to invest their money in the real sector of the economy, especially in manufacturing and agriculture. Devakumar Edwin, the Executive Director of Dangote Group, who made the call in Lagos, noted that while government has a big role to play in formation of the right policy to encourage investors; the business community has a bigger role to play by moving away from importation to production.

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Vitafoam to expand product line

  /   in Business   /   Comments

bed1

As part of its corporate strategy to support sound health for mankind, Vitafoam Nigeria Plc, a quoted company on the Nigerian Stock Exchange, NSE has pledged to expand its production of modern sleep products. Addressing journalists at a ceremony marking the 2015 World Sleep Day, the company’s Group Managing Director, Mr. Joel Ajiga explained that Vitafoam Nigeria had ventured into production and supply of flexible, semi-rigid and rigid polyurethane foam products leading to incorporation of more subsidiaries.

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UNIDO to assist Nigeria’s diversification to non-oil sector

  /   in Business   /   Comments

oil

The United Nations Industrial Development Organisation (UNIDO) said the National Quality Infrastructure Project (NQIP) will assist Nigeria to diversify its economy to non-oil sector. UNIDO’s Project Coordinator, Mr. Charles Malata said the project will be useful to Nigeria as it spreads across several commodities in the country. He said the four years NQIP signed in 2013 has taken effect since May 2014 and is sponsored by EU with 12 million Euros already committed to cover its five components.

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Is your organization’s strategic planning a waste of time and resources? (3)

  /   in Business 12:48 am   /   Comments

money-waste

This week’s insight will be the part three of the series. By now, the part one and two of this insight will definitely guide every CEO or business leader in answering the above question. But the truth of the matter is that most of organizations strategic plans are being hit by SPOTS Syndrome (Strategic Plans On Top Shelf). SPOTS Syndrome is big evidence that an organization’s strategic plan has been a waste of time and resources. Whenever a strategic plan is not agreed upon, acted upon and implemented, it is a mere waste of time and resources.

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Avoiding small-business financing mistakes

  /   in Business   /   Comments

market-money

When taking on financing as a small business, the correct course of action always hinges on answering this question: what am I trying to accomplish? The thing is, financing decisions don’t exist in a vacuum. Small businesses often miss the vital details when assessing whether to borrow or not, such as the full financing cost, the drain on their time, the opportunity costs and baked-in fees.

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Analyze your start-up before take-off

  /   in Business   /   Comments

1000-naira-notes

Building a startup is like falling in love. You find the “perfect one”, lose all sense of reason, judgment flies out the door. You’re head over heels, and you’re likely to make mistakes. The problem with the startup culture is this irrational blindness, which leaves a trail of wrecked startups. Everyone knows that building a startup is tough, but many entrepreneurs are not analyzing their own startups with enough objectivity. If you don’t want to waste your money on a failed startup idea, then there are some pertinent issues to consider.

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