Friday January 30th, 2015
Friday January 30th, 2015
Latest

New York, world’s top real estate market

  /   in Business 12:00 am   /   Comments

Two of marked buildings

New York City regained its top position among global commercial real estate buyers, unseating London and highlighting the appeal of U.S. properties in general, according to a survey of international investors released last week.

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Naira hits N208 to the dollar at BDCs, Black Market

  /   in Business 4:50 pm   /   Comments

The Naira on Friday depreciated against the dollar as it traded at N208 from the N191.50 it sold for on Monday, Jan. 19.

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Kano tourist attractions make national monument list

  /   in Business   /   Comments

tourism1

The National Commission for Museums and Monuments (NCMM) recently requested the permission of the Kano State Emirate to establish an Islamic art museum at the defunct British Council’s premises in Kano.

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Vlisco Group, FG sign MoU on investment in textile industry

  /   in Business   /   Comments

textile

The Dutch textile and design company, Vlisco Group, has signed a Memorandum of Understanding, MoU with the Federal Government of Nigeria to create a platform for significant expansion in Nigeria’s economy.

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Dematerialisation of share certificate still low — NASD boss

  /   in Business   /   Comments

Nigerian-Stock-Exchange-(NS

Dematerialisations of share certificates in the nation’s capital market is still low, says Chef Executive Officer, NASD Plc, Mr. Bola Ajomale.

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Rice backward integration policy attracts over $1.6bn investment

  /   in Business   /   Comments

The Backward Integration Programme (BIP ) policy in the rice sector put in place by the federal ministry of Agriculture to boost local rice production with the approval of an inbuilt tariff/levy differential deliberately skewed in favour of investors has been commended by stakeholders.

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Stock market: SEC pledges to deepen retail investors’ participation

  /   in Business   /   Comments

Nigerian Stock Exchange

In its determination to develop and strengthen the Nigerian capital market, the Securities and Exchange Commission, SEC has pledged to deepen retail investors’ participation in the market.

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Latest

Jumia, FirstBank partner to drive online shopping

  /   in Business   /   Comments

The Wired World: A graphic representation of the Internet

Nigeria’s online retailer, Jumia.com and FirstBank of Nigeria Limited has entered into partnership to enable online shoppers with FirstBank Naira credit cards to shop on the Jumia website and pay later in installments.

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Kanayo seeks unified laws in hospitality industry

  /   in Business   /   Comments

Chairman, Board of Directors, National Institute for Hospitality and Tourism (NIHOTOUR), Chief Kanayo O. Kanayo, has advised the Federal and state governments to have unified laws guiding operation of hospitality businesses in Nigeria.

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Review tax policy on REITs, FSDH Asset tells FG

  /   in Business 12:46 am   /   Comments

TAX

The Federal Government has been called upon to discontinue the imposition of certain taxes on Real Estate Investment Trust, REIT, as this will ensure the growth and success of the REITs as an asset class.

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Latest

Unemployment hindering Nigeria’s growth potential — NIM

  /   in Business   /   Comments

File photo: Unemployed youths at Alausa, Ikeja

The Nigerian Institute of Management has lamented the rising unemployment situation in the country, saying it is undermining the country’s growth potential.

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Davos: Political, business elite gather in shadow of attacks

  /   in Business, Elections 2015 11:24 am   /   Comments

The world’s political and business elite gathered for their annual meeting in the glitzy Swiss ski resort of Davos on Wednesday, with the shadow of the Paris attacks and ongoing global conflicts looming large.

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Latest

NAICOM inaugurates 14 coys to run energy pool

  /   in Insurance and You   /   Comments

The National Insurance Commission, NAICOM, has inaugurated fourteen insurance companies to operate the Technical Management Board of the Energy and Allied Risks Insurance Pool of Nigeria (EAIPN).

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Capital market operators bemoan CBN’s fixing of Naira value

  /   in Business   /   Comments

1000-naira-notes

Capital market operators have criticized the Central Bank of Nigeria, CBN’s fixing of the value of naira, saying that the currency should be allowed to find its value through market forces.

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Governance and social inclusion in Lagos State

  /   in Business   /   Comments

Babatunde Raji Fashola

In the periods before and immediately after Nigeria’s independence in 1960, doctors and mining engineers were amongst the best remunerated officials in the Nigerian civil service. There were also government establishments like the Lagos Executive Development Board which employed Architects, Town Planners, Engineers, Estate Surveyors, etc. who were better paid than their counterparts in similar positions in the Ministry of Works.

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WorldRemit, MTN seal global mobile money partnership

  /   in Business   /   Comments

Online money transfer service, WorldRemit and telecoms operator, MTN have signed a global partnership that will enable WorldRemit customers to send remittances instantly to MTN’s Mobile Money customers across the world.

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Scrap NNPC now — Former executives, others

  /   in Energy 1:57 am   /   Comments

Gas Pipeline

Many former management executives of the Nigerian National Petroleum Corporation, NNPC, and other oil companies’ senior executives have called for the scrapping of the Corporation, saying, it has destroyed its values and hindered the growth of the Nigerian oil and gas sector.

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Fuel price reduction, relief for car owners, but…

  /   in Business   /   Comments

Fuel-dispenser

On Sunday, the Federal Government reduced petrol price to N87 from N97 it previously sold. Reduction of fuel prices is a welcome development which all stakeholders should embrace with a sense of responsibility. Fuel is one of the most critical economic enablers which can either upset or stabilize any economy.

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Kudos, knocks trail fuel price cut; marketers fail to comply

  /   in Business   /   Comments

fuel2

IT was an avalanche of reactions, yesterday, to Sunday’s announcement of a reduction in the pump price of Premium Motor Spirit, PMS or petrol, by the Federal Government, with the All Progressives Congress (APC), yesterday, accusing the Federal Government of “making a show out of deceit by its so-called fuel price reduction.”

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IOCs to divest 250,000bpd worth of equity in 2015 — PwC

  /   in Energy   /   Comments

gas

Nigeria may not have seen the end of divestments in the oil and gas sector going by the findings of PricewaterhouseCoopers’, PwC, a management and advisory services firm.

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Latest

Why you are not investing (2)

  /   in Investors Forum   /   Comments

”I have many responsibilities”. This is another reason why some people don’t invest. Most of the people that make this as excuse are usually middle or high income people.

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Auto policy: Stakeholder advocates 10-year incubation period

  /   in Business   /   Comments

A cross section of dealers

A concerned stakeholder in the automobile industry in the country has advocated for a ten year incubation period before it can be fully implemented by the Federal Government.

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Oil slump to trigger double-digit inflation in Q1

  /   in Energy   /   Comments

crude-oil-pipe-702x336-436x336

Analysts at BGL have warned that the continuous decline in the prices of crude oil in the international market will trigger a double-digit inflation in Nigeria in the first half of 2015, among other negative consequences.

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Latest

Top 10 performing stocks

  /   in Investors Forum   /   Comments

Nigerian-Stock-Exchange-(NS

Last week, the shares of Presco Plc, UAC of Nigeria Plc, Cutix Plc, Beta Glass Company (Nig.) Plc, Union Bank of Nigeria, UBN Plc and Custodian and Allied Plc enjoyed unalloyed patronage from the investing public, thereby emerging the most active stocks on the Nigerian Stock Exchange, NSE, in terms of price movement.

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Latest

NNPC, PPMC plead with Nigerians to protect oil pipelines

  /   in Energy   /   Comments

Gas pipeline

The Nigerian National Petroleum Corporation, NNPC, and its midstream subsidiary, the Pipelines and Products Marketing Company, PPMC, have called on all Nigerians living in communities close to pipelines to protect them from the activities of vandals.

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Power: FG woos Chinese firms to transmission

  /   in Energy   /   Comments

Electricity-new

The Minister of Power, Prof. Chinedu Nebo, has tasked the Chinese companies to fill in the gap created by the weak transmission system to boost Nigeria’s capacity to wheel generated power to end users.

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Latest

Why presidential aspirants are silent on energy issues

  /   in Energy   /   Comments

*Jonathan and Buhari

Opinions are varied as to why the two president aspirants have failed to clearly highlight their plans for the energy sector in their campaigns thus far. But stakeholders in the sector have warned the contestants against any plan to increase government’s control of the sector.

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Latest

Oil prices: Nigeria, W’Africa record stable rig count

  /   in Energy   /   Comments

economy

Despite the global six months fall in oil prices, Nigeria and other West African oil producing countries recorded a stable rig count in December.

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Latest

Shareholders differ on Oteh

  /   in Investors Forum   /   Comments

File photo: The  floor of Stock exchange

The Securities and Exchange Commission (SEC) recently announced that its Director-General, Ms Arunma Oteh, has stepped down.

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Nigeria, others to lose $25bn over Ebola —World Bank

  /   in Business   /   Comments

naira-Dollar

The World Bank has predicted that Nigeria and other countries in the West African region could lose $25 billion in economic growth this year due to the Ebola crisis.

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Latest

Wilko Corporation to take over Avon Crowncaps …

  /   in Investors Forum   /   Comments

Avon Crowncaps and Containers (Nigeria) Plc has announced the intension of its majority shareholder, Wilko Corporation, to take up the remaining minority equities in the company.

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NNPC to collaborate with new Shell MD to reposition sector

  /   in Energy   /   Comments

The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Dr. Joseph Dawha, has expressed the readiness of the Corporation to work in harmony with the newly appointed Managing Director, Shell Petroleum Development Company of Nigeria, SPDC, Mr. Osagie Okunbor.

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