Friday November 28th, 2014
Friday November 28th, 2014
Latest

Dangote begins hybrid tomatoes production in Kano

  /   in Business 12:49 am   /   Comments

tomatoes

A pilot hybrid tomatoes production project has been established in Kano state by Dangote farms for its tomatoes processing plants in the state.

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Apapa gridlock choking business — LSHA

  /   in Business   /   Comments

Oshodi/Apapa road

Lagos State House of Assembly, LSHA, has raised an alarm that the traffic gridlock along Apapa roads has led to a sharp decline of business around the area and led to the close down of companies.

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Why Yero invested much in agriculture — Maiyaki

  /   in Business   /   Comments

agric

Since assumption of office as the Kaduna State Governor,, Mukhtar Ramalan Yero,has taken agriculture as a key sector in job creation with provision of inputs, access to funds and trainings to farmers.

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Mainstreet Bank acquisition: Analysts foresee greater prospect for banking sector

  /   in Business   /   Comments

naira money

Financial analysts have continued to express their support for the acquisition of Mainstreet Bank by Skye Bank Plc, saying the acquisition will further help the banking sector to provide the needed funds for manufacturers to boost production.

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SEC tasks capital market operators on wealth creation for poor people

  /   in Business   /   Comments

Ms Arunma Oteh, DG, SEC

The Director General of the Securities and Exchange Commission, SEC, Arunma Oteh, yesterday advised capital market operators to come up with recommendations that the market could explore to create wealth for ordinary Nigerians.

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CIS, Laurel Ventures sign MoU to enhance stockbrokerage profession

  /   in Business   /   Comments

File photo: The  floor of Stock exchange

The Chartered Institute of Stockbrokers (CIS) has signed a Memorandum of Understanding, MoU, with Laurel Ventures in order to enlarge the scope for its membership drive.

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Inadequate external infrastructure hindering liquid steel production — Ajaokuta Steel

  /   in Business   /   Comments

Ajaokuta Steel Company Limited has attributed the non-completion of required external infrastructure as the major challenge hindering liquid steel production in the country.

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CBN to withdraw N500bn from banking system

  /   in Business, News 8:18 am   /   Comments

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

LAGOS — The Central Bank of Nigeria (CBN) said it would withdraw N500 billion from the banking system through the recent increase in the cash reserve requirement of banks.

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Manufacturers lament increase of monetary policy rate

  /   in Business   /   Comments

Mobile Money

Manufactures Association of Nigeria (MAN), Ogun Chapter, yesterday lamented over the increase of Monetary Policy Rate (MPR) from 12 to 13 per cent. Mr Wale Adegbite, the State Chairman of the association made the lamentation in Ota.

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NEXIM Bank offers N300bn loan guarantee to exporters

  /   in Business   /   Comments

A fully loaded truck in one of the inland dry ports in the sub-region, will be delayed, harassed for bribes by the numerous security agents along the region’s transport corridor before it gets to its destination.

The Nigerian Export Import Bank (NEXIM) has offered N300 billion funding support to Nigerian exporters in 2014 as part of its commitment to boost credible non-oil exports in the years ahead.

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FCMB restates commitment to oil sector growth

  /   in Business   /   Comments

Oil Installation

FCMB Capital Markets Limited, the investment banking arm of FCMB Group Plc, has restated its commitment to enabling the realisation of Nigeria’s oil and gas reserves growth agenda by actively supporting indigenous operators.

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Devaluation, increase in lending rate will stifle our businesses – traders

  /   in Business 8:38 pm   /   Comments

market-2

The National Association of Nigerian Traders (NANTS) on Wednesday condemned the increase in the lending rate as announced by the Central Bank of Nigeria (CBN), saying that it would bring hardship.

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The role of the digital media in marketing – Akintayo

  /   in Business, News   /   Comments

Stephen Akintayo is the CEO of Gileadbalm Group. He is also the founder of INFINITY FOUNDATION, an NGO that helps orphans and less privileged children. He is a graduate of microbiology, Olabisi Onabanjo University, and a member of Institute of Strategic Management. His organization is into marketing products and services online. How were you able

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Obasanjo frowns at insurance firm’s refusal to settle claims

  /   in Insurance and You   /   Comments

Chief Olusegun Obasanjo

Former President of Nigeria, Mr. Olusegun Obasanjo has decried the action of some fraudulent insurance companies who try to avoid payment of claims in the event of a disaster.

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Corporate etiquette, key to business growth— Janet Adetu, Corporate image expert

  /   in Business   /   Comments

women-in-biz-pix-1

Her passion for protocol, etiquette and leadership lured her into the world of corporate image enhancement.

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It is your duty to manage your risks — Fashola

  /   in Insurance and You   /   Comments

Babatunde Raji Fashola

Governor of Lagos State, Mr. Babatunde Fashola has said that individuals have a responsibility to manage risks for the betterment of their lives.

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SON, CPC under pressure not to enforce compliance to standards

  /   in Business   /   Comments

economy

Standard Organisation of Nigeria (SON) and the Consumer Protection Council (CPC) said powerful individuals, companies and trade associations were making it difficult for both organisations to effectively carry out their jobs of enforcing compliance to standards and protecting consumers.

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What the next governor of Lagos State should do for us (7)

  /   in Business   /   Comments

Lagos-Island-CBD

The price of Portland cement looms large over the delivery of homes in Nigeria. The recent price cut by the dominant cement manufacturer should give some savings to individuals building their own homes but it may not have significant effect on the cost of government projects.

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ICMR advocates corporate governance audit for companies, MDAs

  /   in Business   /   Comments

economy

The Registrar of Institute of Capital Market Registrar, Dr. Walker Ogogo, has called for the introduction of corporate governance audit for public companies, including Ministries, Departments and Agencies of government.

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Osun to earn N15bn from tourism in 2015 — Commissioner

  /   in Business   /   Comments

Rauf Aregbesola

The government of Osun state, South West Nigeria has projected N15 billion revenue from tourists coming into the state next year.
The state’s Commissioner, Ministry of Home Affairs, Culture and Tourism, Hon Adetona Ayedun, who gave this projection , said the global tourism industry is worth $3 trillion per annum, noting that the N15 billion is expected to come from hospitality businesses, transport and entertainment in 2015.

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Latest

Nigeria loses N27bn to gas flaring in one month

  /   in Energy 1:02 am   /   Comments

*Gas flare

Nigeria lost about $170.166 million, around N27.227 billion to gas flaring in one month, as oil and gas companies flared 39.07 billion Standard Cubic Feet (SCF) of gas in the month of August 2014.

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Chinese, Nigerian firms to invest $40m in tractor assembly plant

  /   in Business   /   Comments

naira-Dollar

A Chinese firm, Xiamen XGMA International Trade Company Limited, has entered into partnership with a Nigerian firm, Richbon Group Nigeria Limited, to invest $40 million, about N6.4 billion, to set up a tractor assembling plant in Nigeria. This will lead to the local manufacture of XGMA tractors, heavy duty machineries and equipment.

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CBN, Dangote, others seek entrepreneurship revolution

  /   in Business   /   Comments

*Alhaji Aliko Dangote

The Central Bank of Nigeria (CBN); Chairman, Dangote Group, Alhaji Aliko Dangote; Chairman, Honeywell Group, Oba Ayoola Otudeko; Mazi Sam Ohuabunwa and other eminent Nigerians have called for ways to pursue revolutionalising entrepreneurship in Nigeria.

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Estimated billing: Nigeria needs 8 million new meters — Nebo

  /   in Energy   /   Comments

Prof Chinedu Nebo

The Minister of Power, Professor Chinedu Nebo has attributed the estimated bills given to Nigerians by distribution companies to the eight million meter shortage in the country.

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Gas to power: CBN offsets PHCN N36.9bn legacy debt

  /   in Energy   /   Comments

A liquefied natural gas carrier arrives at an Exxon Mobil terminal off Porto Levante.

The Central Bank of Nigeria, CBN, has offset the N36.9 billon legacy debt owed to gas suppliers by the power sector under the defunct Power Holding Company of Nigeria, PHCN, over the last few years.

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Crude price decline: PENGASSAN seeks labour, employers collaboration

  /   in Energy   /   Comments

*Oil Vandals

With the decline in the global prices of oil, workers in Chevron under the aegis of Chevron Branch of Petroleum and natural Gas Senior Staff Association of Nigeria (PENGASSAN), have emphasised the need for the employers of labour and workers unions in the country to collaborate on ways to mitigate the effects on the employee, companies’ operations and the economy at large.

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OPEC members face tough decision ahead Thursday’s meeting

  /   in Energy   /   Comments

File Photo: Crude Oil

Members of the Organization of Petroleum Exporting Countries (OPEC) have a tough decision to make ahead of Thursday’s meeting over whether to cut output in the wake of a 30 percent slump in crude prices since June.

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Shell shuts 200,000bpd Trans Niger Pipeline

  /   in Energy   /   Comments

Gas pipeline

Nigeria’s oil exports were disrupted after Shell Petroleum Development Company, SPDC, yesterday, shut the Trans Niger Pipeline, after it discovered a leak on the pipeline.

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Global energy demand to rise by 60% — Report

  /   in Energy   /   Comments

File photo

The falling oil prices will probably be temporary going by the Organisation of Petroleum Exporting Countries, OPEC report just released.

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Mansard’s corporate governance practice gets NSE’ approval

  /   in Investors Forum   /   Comments

The Nigerian Stock Exchange, NSE, has named Mansard Insurance Plc as one of the companies quoted on the Exchange with outstanding good corporate governance practices. Mansard received the accolade alongside seven other pilot companies that were announced at the launch of the NSE’ newly introduced Corporate Governance Rating System (CGRS), designed to rate companies listed on the Exchange based on their corporate governance and anti-corruption culture.

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Investors Speak: ICMR advocates corporate governance audit for companies, MDA

  /   in Investors Forum   /   Comments

The Registrar of Institute of Capital Market Registrar, Dr. Walker Ogogo, has called for the introduction of corporate governance audit for public companies, including Ministries, Departments and Agencies of government.

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Latest

UBA, Vitafoam, 84 others get recognition for consistent dividend payment

  /   in Investors Forum   /   Comments

As part of efforts to encourage more quoted companies to imbibe the culture of rewarding their shareholders with dividend payment, United Bank For Africa (UBA Plc), Vitafoam Plc and 84 other quoted companies have been pencilled down to be rewarded for their consistent dividend payment history by Bodmas Foundation.

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