Sunday March 29th, 2015
Sunday March 29th, 2015
Latest

VISION 20:2020 We need economic growth sustainability — FRSC boss

  /   in Business 12:46 am   /   Comments

frsc

The transport sector of Nigeria’s economy is poised for greater productivity in 2015, as the Federal Road Safety Corps (FRSC) Zone 2, is mapping out new operational measures and enforcement strategies to achieve 20 percent reduction in road traffic crashes and 30 per cent fatality. The Zone is working in line with the policy of the Federal Government to enhance efficiency in the sector, with a view to achieving the much expected Vision 20:2020 target.

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Ebonyi records huge number of teenage hawkers in Nigeria —Ogbonna Says, Ndigbo can’t rule Nigeria now

  /   in Business 1:49 am   /   Comments

Solomon-Ogbonna-okk

It’s quiet unfortunate and shameful that if you are driving along the streets in Lagos particularly on highways and you approach any of those hawkers’ they will tell you they are from Ebonyi state. Also, if you decide to communicate to them in their language, they will respond accordingly, an indication that confirms their honesty. I’m disappointed and angry with those who had governed the state, particularly, with their self-centredness.

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ICA set to shore up Nigeria’s economy through credit management base

  /   in Business 10:19 pm   /   Comments

youths-okk-

The newly elected Institute of Credit Administration President/Chairman of the 3rd Governing Council of the same body and Managing Director, Mobil Oil Nigeria, Plc., Mr. Adetunji Oyebanji, unequivocally stated during the induction of new members in Lagos that the council for effective credit management in Nigeria will advocate empowering the economy to create wealth and jobs through advocacy and enlightenment about the role of credit, infrastructures necessary for sound credit system, business character that encourage credit availability, government initiatives that facilitate access to credit, lend

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FG’s local content policy receives major boost

  /   in Business   /   Comments

The local content policy of the Federal Government received a boost Wednesday with the formal handing over of Shell’s equity in OML 29 to a local oil and gas firm, Aiteo, thereby increasing the participation of indigenous companies in the upstream sub-sector of the oil and gas industry.

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Unilever acquires N43bn shares of Nigerian unit

  /   in Business   /   Comments

Unilever is planning to raise its stake in its Nigerian unit to as much as 75 percent to benefit from expected economic growth in Africa’s most populous nation.

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Senate ties NIMASA’s 2015 budget approval to payment of workers’ allowances

  /   in Business   /   Comments

File photo: The e-waste-laden ship at the Tin-Can Port Lagos.

The Senate Committee on Marine Transport has told the management of the Nigerian Maritime Administration and Safety Agency, NIMASA to make full payment of its workers allowances before its 2015 budget can be approved.

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Agriculture bears major brunt of Natural disaster — Report

  /   in Business   /   Comments

Agric-plaintain

Nearly a quarter of damages wrought by natural disasters on the developing world are borne by the agricultural sector according to initial results from a new FAO study released here today at the UN World Conference for Disaster Risk Reduction.

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FG seeks $2 b W/Bank, ADB loan

  /   in Business 9:08 am   /   Comments

Jonathan and Okonjo-Iweala

Faced with low oil revenue and high demand for foreign exchange, the federal government has taken steps to source $2 billion from the World Bank and the African Development Bank, ADB, to assist in the implementation of its policies and programmes this year.

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Is your organization’s strategic planning a waste of time and resources? (4)

  /   in Business   /   Comments

money-waste

Every organization’s number one strategic management goal is to develop a plan, but unless the plan is integrated at all levels, strategic misalignment and disconnections occur, often resulting in frustration and conflict. When plans are not integrated between various levels and functions of the organization, change fails to take place and important activities fall between the cracks and blame occurs.

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Business enthusiasm: Nigeria tops global ranking

  /   in Business   /   Comments

A market in Ghana

Nigeria leads the world in enthusiasm for business, according to a survey carried out by Global Entrepreneurship Monitor (GEM). Indeed, the report noted that, all across Africa, a growing wave of grassroots self-starters are taking risks and defying obstacles to bring their money-making ideas to life. Armed with a can-do attitude and hopes of striking it big, they’re navigating a conundrum of challenges to pursue opportunities at a time when many African countries enjoy unprecedented levels of economic growth.

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Challenges of entrepreneurship and way out

  /   in Business   /   Comments

market-2

Thinking of starting your own business? Before you venture off into the great big world of business ownership, you’ll want to know the facts so you can ensure you are mentally and emotionally prepared to handle life as an entrepreneur. About 25 percent of startups fail during their first year, and that percentage increases each year in the business’s lifespan until by the tenth year, 71 percent of startups would have failed. Success is highly dependent on both the type of industry and founder’s experience level.

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Skye Bank to float N100bn commercial paper to boost liquidity

  /   in Business   /   Comments

Skye Bank Plc has concluded arrangement to float N100 billion commercial paper (short term monetary instrument) in order to boost its liquidity. The commercial paper would be traded on the secondary market under the platform of FMDQ Over the Counter OTC.

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Dollarisation of economy: CBN goes after landlords, schools- Emefiele

  /   in Business 12:08 pm   /   Comments

CBN Governor, Mr Godwin Emefiele

The Central Bank of Nigeria, CBN, is to go after shylock landlords and school owners who demand rents and fees in dollars within a view to bringing them to book, for contravening the nation’s legal provisions.

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Port Regulator: NPA, Shippers Council bicker despite FG’s pronouncement

  /   in Business   /   Comments

ship

Despite Federal Government’s declaration of the Nigerian Shippers Council, NSC, as the Port Economic Regulator, there is still disagreement between the Council and the Nigerian Ports authority, NPA as to the constitutionally recognised body for the function.

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Microsoft, Unilever, others win great place to work award

  /   in Business   /   Comments

economy

Microsoft Nigeria, Unilever Nigeria and six other companies have been declared the best companies to work in Nigeria at the 2015 Great Place to Work Nigeria (GPTWN) Awards. Others that clinched the coveted awards on account of their strong ethical standards and work-friendly environment include Mansard Insurance Plc, Coca-Cola Nigeria, NSIA Insurance, Akintola Williams Deloitte, DHL Nigeria, and Konga.

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Nigeria, others, have world’s worst energy access — Report

  /   in Energy 6:30 am   /   Comments

economy

Nigeria and other countries of the Sub-Sahara African region have the world’s worst access to electricity, the International Energy Agency, IEA, said in its latest report.

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Shell lists challenges undermining transformation success

  /   in Energy   /   Comments

Energy-Pix-3-gas_processing

Abuja — As robust as Federal Government’s current transformations in the energy sector may appear, the Shell Group has identified a number of challenges undermining the success of the reforms.

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AFDB commits $200m to coal-to-power

  /   in Energy   /   Comments

File Photo

ABUJA — In its determination to deepen the development of renewable energy, the African Development Bank, AFDB, has offered to provide a support to the tune of about $200 million towards the growth of coal-to-power projects in Nigeria.

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Elumelu Foundation selects 1,000 African entrepreneurs

  /   in Business   /   Comments

Tony Elumelu (New)

The Tony Elumelu Foundation (TEF) yesterday announced the selection of the first 1,000 African entrepreneurs for the Tony Elumelu Entrepreneurship Programme (TEEP).

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CPC decries high rate of consumer rights abuse in key sectors

  /   in Business   /   Comments

economy

The Director-General, Consumer Protection Council, Mrs. Dupe Atoki, has decried the high rate of consumer rights abuses in the telecommunications, aviation, banking and power sectors of the Nigerian economy.

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Operators call for resolution of PIB, NOSDRA bills conflicts

  /   in Energy   /   Comments

Oil spill in the river

ABUJA — Industry stakeholders have called for a thorough amendment of the National Oil Spill Detection and Response Agency, NOSDRA Bill currently before the National Assembly, to remove any conflict between it and the Petroleum Industry Bill, PIB.

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Access Bank tasks local companies on good governance

  /   in Energy   /   Comments

The surest way indigenous oil and gas operators or any company operating in Nigeria can continue to have support from the banks is by instituting a culture of good corporate governance, while also pooling resources together.

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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 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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