Thursday July 2nd, 2015
Thursday July 2nd, 2015
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I was alarmed at the unemployment level in Nigeria – Emmanuel-Tella

  /   in Business, News, Woman to Women 12:14 am   /   Comments

Olufolahan Emmanuel-Tella

Unemployment must be tackled with business decline which has progressively worsened over the years with many business executives having to sell their properties, with them driving their cars as unpainted taxi for survival. About 1.8 million fresh graduates, millions of unskilled youths, yearly enter into the ever-swirling labour pool.

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Quoted companies and their shareholders in 2014 (3)

  /   in Business, News   /   Comments

It is also encouraging that the company’s directors see a strong future in the business and the directors have not been influenced by thoughts about dilution of the shareholding structure given the low share prices on the floor of the Nigerian Stock Exchange, NSE. However, I hope the documentation for the rights issue would indicate the direction of the company’s profitability following on the additional investments in the company.

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Naira will further depreciate if… CBN

  /   in Business, News 8:52 pm   /   Comments

Naira-dollar-1

The Central Bank of Nigeria (CBN) has expressed fears that removal of restrictions imposed on the interbank foreign exchange market will lead to sharp depreciation of the naira.

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World Bank Group: Project critics threatened, harassed, jailed- HRW

  /   in Business, News   /   Comments

Jim-Yong-Kim-World-bank-president

Human Rights Watch said it found out that the World Bank and IFC have failed to take adequate steps to help create a safe environment in which people can express concern or criticism about projects funded by the Bank Group without risk of reprisal,. “The World Bank has long said that public participation and accountability are key to the success of the development efforts it funds,” said Jessica Evans, senior international financial institutions advocate at Human Rights Watch.

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Don’t control TCN, Nnaji warns FG

  /   in Energy, News   /   Comments

Energy-Pix-3-gas_processing

“I believe that the private sector management was never allowed to work. That’s part of the problem. The people who were brought to manage had to endure interferences from the government appointed officials. So that is an issue.” The Federal Government had in 2012 signed a three-year contract for the management of the TCN with the Canadian firm, Manitoba, after it emerged the sole bidder. The contract has an option of a two-year extension.

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Subsidy payments can fund new refineries — NEITI

  /   in Energy, News   /   Comments

Buhari-oil

According to Short, the time for Nigeria to deepen the process of implementation of NEITI Reports as basis for the proposed reforms in the industry appears to have finally come. She said, “EITI has faith in the new administration in Nigeria. We are ready to work with the new government to reform the oil sector and NEITI independent reports in the sector will help to lead the way. I am in Nigeria to convey our support to President Buhari.”

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Non-oil revenue exceeds earnings from crude in April

  /   in Energy, News   /   Comments

naira money

“At N735.07 billion, estimated federally-collected revenue in April 2015, was lower than the monthly budget estimate by 9.8 per cent. It was, however, higher than the receipt in the preceding month by 35.8 per cent. The decline in estimated federally-collected revenue (gross) relative to the monthly budget estimate was attributable, largely, to the shortfall in receipts from oil revenue during the review month.”

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CIS sensitises Armed Forces on capital market activities

  /   in Business, News   /   Comments

Nigerian-Stock-Exchange-(NS

The Chartered Institute of Stockbrokers, CIS has taken its sensitisation programme to members of the Nigerian Armed Forces on Nigerian capital market activities. The team was led by the Head, Research & Technical Mr. Arinze Nwobu. In his statement, HRT mentioned that CIS is the only professional body responsible for training and regulating practice and conduct of stockbroking in Nigeria.

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Bringing the refineries back to life

  /   in Energy, News   /   Comments

refinery

“Our domestic refineries must be made to work. Appropriate incentives need to be worked out to attract new investment in refining. While domestic refining by itself is not sufficient to guarantee product price stability, there are clear gains to be derived from domestic refining as opposed to imports,”

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Billfinger divests 33.4% stake in Julius Berger

  /   in Business, News 11:20 pm   /   Comments

AGM: From left, HRH Igwe Peter Nwokike Anugwu  discussing with former Managing Director of Julius Berger, Engr. Wolfgang Goetsch during the 45th AGM of Julius Berger Plc in Abuja. Photo by Gbemiga Olamikan.

Bilfinger SE, a minority shareholder with a holding of 33.4 per cent in Julius Berger Nigeria Plc (JBN) has expressed its decision to divest its stake to Nigerian investors. In a statement, the construction giant said Billfinger has notified the Board of Julius Berger of its decision to dispose of its remaining stake in JBN to long term Nigerian investors on or before the end of June 2015.

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World oil demand increases after price slump

  /   in Energy, News   /   Comments

OIL

The supportive impact of these factors could wane in the rest of 2015. “Recent months have seen a steady acceleration in global oil demand growth, but due to the temporary nature of many of the factors that contributed to the upside, annual growth may subside in the second half of 2015.”

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Apiculture’ll solve health, unemployment problems – Dr. Akunne

  /   in Business, News   /   Comments

Bee-venom

“I also made honey tonic wine which is more medicinal than the table wine. Other products are bee propolis which is even more medicinal than the honey people clamour for. So beekeeping/honey production is purely for economic empowerment especially for the youth and young entrepreneurs.”

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Entrepreneuship: An Imperative for Sustainable Development Part 11

  /   in Business, News   /   Comments

Entrepreneurship

The problems facing the country ranges from high rate of poverty, youth and graduate unemployment; overdependence on foreign goods and technology; Low economic growth and development; among others. This paper therefore argues that entrepreneurship education will equip the students with the skills with which to be self-reliant.

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How Nigerian start-ups can attract investors – Essien

  /   in Business, News   /   Comments

Essien

So when you are building a start-up, the first thing you need to do is to make sure that you are in the right market and if you see signs that you are not in the right market and that it is not moving, get out of that market and provide something that works. So, one of the things we did right and this was not because we are geniuses, is that we ventured into the right market from the beginning.

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Africans able to drive economic integration, growth – CBN

  /   in Business, News 11:50 pm   /   Comments

CBN Governor, Mr Godwin Emefiele

“This makes Ethiopia the largest economy by GDP in East and Central Africa. The government is also investing massively in several large-scale infrastructure projects, including construction of the continent’s largest hydropower dam. All these make Ethiopia a beautiful bride to investors”

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Global economy loses $250bn yearly to fake products — Philips

  /   in Business   /   Comments

“While there are no reliable industry wide statistics on the number of products that are counterfeits; from market feedback we receive, we know that this issue is very severe. Philips wants to work alongside consumers, government authorities, other MNCs and relevant organizations to see how we can collaborate together to enlighten and inform the consumers on matters relating to counterfeiting.

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CBN holds meeting with banks on forex rules

  /   in Business, News   /   Comments

CBNHQ

Central Bank of Nigeria, CBN on Friday called a meeting with chief executives and treasurers of banks to discuss issues surrounding its policy on the foreign exchange market, multiple banking sources told Reuters.

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Nigeria among African countries with best property investment prospects

  /   in Business, News   /   Comments

Vintage-eSTATE

Real estate remains a booming opportunity for Africa-focused investors for good reasons. The growth of cities creates a demand for increased volumes of high-quality commercial and residential real estate. Also, the rise of the urban middle class drives retail property development, particularly as modern shopping malls spread across the continent.

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Litrature Award: Etisalat calls for entry

  /   in Business, News   /   Comments

UP CHAMPIONS ... Government Secondary School, Owerri, Imo State players  celebrate after lifting the Etisalat U-15 Soccer Champions in Lagos

The winner receives a cash prize of £15,000 in addition to a fellowship at the prestigious University of East Anglia under the mentorship of the award-winning author, Professor Giles Foden.

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NIPC sets to review investment laws

  /   in Business, News   /   Comments

supermarket

The Nigeria Investment Promotion Commission (NIPC) has began a review of the current investment laws with a view to making it more attractive to foreign investors while also strengthening NIPC’s institutional capacity to deliver on its statutory mandate. The affected laws are NIPC Act No 16 of 1995 and the draft Investment Promotion and Protection Agreement (IPPA).

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Embrace new media — ADVAN urges marketers

  /   in Business, News   /   Comments

Advertising-pix

“The changing role of marketing in digital economy,” saying that the workshop is a platform provided by the Association for knowledge sharing with different experts on various subjects with the objective to build the marketing industry and marketing experts that will help grow Nigeria’s economy.

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Unemployment crisis worse than NBS new statistics — Expert

  /   in Business, News   /   Comments

Ekpo-prof

The former Federal Office of Statistics, now National Bureau of Statistics (NBS) has been calculating employment/unemployment statistics to guide policy over the years. During the 1960s, data from the then FOS reflected full-employment in the economy. Even when government was concerned about rising unemployment, the FOS from 1983 – 1998 published unemployment rates average as 4.0 per cent signaling full-unemployment. From 1999 to 2013, the rates of unemployment published by NBS mirrored the concern of government that unemployment was not only a major challenge but also indicated noticeable rising trend among youth unemployment. For example, in 2010, the rate of unemployment stood at 21.4 per cent and rose to 27.4 per cent in 2012 and declined to 24.7 per cent in 2013. These high rates clearly indicate that the economy has an unemployment problem. These rates are quite at variance with the 5-5.5 per cent full employment rates.

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Nigeria’s maritime sector set for N300bn investment

  /   in Business, News   /   Comments

*Maritime

Nigeria’s maritime sector appears set to compete with South Africa’s as the Liquefied Natural Gas (NLNG) moves to attract foreign investment for a USD1.5 billion (about N300 billion) shipyard begin to pay off.

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Nigeria needs a blue print for poverty crisis, unemployment — NACCIMA boss

  /   in Business, News   /   Comments

Harry...President Goodluck is from a very humble South-South background

Mr. Billy Harry is the President, South South Chamber of Commerce and National Vice President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, (NACCIMA), he spoke with Sunday Vanguard, on the prevailing poverty crisis in Nigeria’s economy and the need for the Federal Government to develop a blue print for poverty alleviation and job creation. He advised the new government on what measures should be put in place to resuscitate the nation’s economy, to enhance capacity utilisation in all sectors, especially in the real sector

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Home Lottery Gives Out First House To Winner

  /   in Business, News 11:43 pm   /   Comments

Speaking at the handover ceremony in Lagos last Wednesday at Gold Estate located on Ishefun Road in Ayobo in Alimosho Local Government Area of Lagos, Mr. Kelvin Otung, managing director of the Home Lottery firm observed that “the population of Nigeria, estimated at 170 million, requires at least 820,000 housing units per annum based on an estimate of nine dwelling units per 1000 of the population yearly,” adding that the “World Bank estimate puts it that over N59.5 trillion will be required to bridge the gap of 17 million deficits in housing.”

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MTN Nigeria gets investors in People Gold Accreditation

  /   in Business, News   /   Comments

“We are delighted to receive this global recognition; it is the highest accolade in people management practices from an independent and internationally recognised body. It has given us additional impetus and determination to continue to deploy global best practice and people solutions to contribute to the development of the nation.” Goodluck informed.

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Transcorp Ughelli Power releases 2014 Annual Report

  /   in Business, News   /   Comments

Transcorp Ughelli Power Limited (TUPL), the power generation and investment subsidiary of Nigerian conglomerate Transcorp Plc, recently released its 2014 Annual Report as it held its 2nd Annual General Meeting of shareholders. The Report details outstanding progress during the first year of operations at Ughelli Power Plant, the group’s power generating asset and Nigeria’s largest gas-powered generating company.

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Poor power supply is hindering poverty reduction

  /   in Business, News   /   Comments

nuclear-power

THE country’s power supply is affecting government’s poverty reduction programmes. This assertion was made at the 8th annual lecture, of Wilson Badejo Foundation, tagged: Nigeria: Entrenched Poverty and the Growing Under-Privileged Class: What Blue Print for Positive Affirmative Change.

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$2.5trn’ll address Nigeria’s infrastructure gap — IA&CE

  /   in Business, News   /   Comments

naira money

The Institute of Appraisers and Cost Engineers, (IA&CE), has said that Nigeria would require about $2.9 trillion investment in the next 30 years to close current infrastructure gap in the country. The engineering economists disclosed this at the 2015 National Technical Conference of the IA&CE which took place in Abuja.

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African Guarantee Fund: Bridging Africa’s SME funding gap

  /   in Business, News 12:37 am   /   Comments

AGF---Startup

All over the world, Small and Medium Enterprises (SMEs) are widely recognized as big drivers of economic growth, innovation, regional development and job creation. A strong and vibrant SME sector provides a strong foundation to improve standards of living and reduce poverty.

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Role of genuine respect in organisation’s team effectiveness

  /   in Business, News   /   Comments

market-a

Saying to leaders and managers that their organisations’ success is hinged upon having an effective team is like telling them what they have already known even before they started their career. And not only that, their organisations at one time or the other have invested in what is called team building, team bonding, team cohesion or team synergy – depending on the organization.

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Miners move to create 300,000 jobs annually

  /   in Energy, News 12:55 am   /   Comments

Enugu_mining

“The Miners Association of Nigeria, MAN, has developed a five-year Strategic Development Plan for the mining sector which would create 300,000 jobs annually as well as contribute 10 per cent to the GDP. “The vast occurrences of solid mineral resources in each state of the federation are yet to be accorded due attention; collective and affirmative action is desired in order to fully exploit the enormous prospects that exist.

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