Friday August 29th, 2014
Friday August 29th, 2014
Latest

Nigeria records over $3billion worth of investments in sugar subsection – Aganga

  /   in Business 3:30 pm   /   Comments

Harvesting sugar cane for use in the production of bioethanol.

The Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, yesterday, disclosed that Nigeria had recorded over $3billion worth of investments in the sugar subsection since the implementation of the Nigeria Industrial Revolution Plan, NIRP.

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NPA, Shippers’council on collision course over berth rent

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*Maritime

The Nigerian Ports Authority, NPA and Nigerian Shippers Council, NSC, are set for a show down following the recent increase in berth rent by the Port Authority without consultation with the NSC.

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Latest

Release of power equipment from port to boost power supply

  /   in Business   /   Comments

electricity

A Logistics expert and consultant to Ministry of power Mr. Emmanuel Nweke has said that the recently released 248 containers of power equipment will no doubt boost supply of electricity across the country.

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70% of SMEs lack access to medium-longer-term finance — Heritage Bank boss

  /   in Business   /   Comments

Mobile Money

Lack of access of medium to long term finance has been identified as factor militating against the growth of Small and Medium Scale Enterprises, SMEs.

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‘We don’t want abuse of dominance position in port operations’— NSC

  /   in Business   /   Comments

Sea-port

Executive Secre-tary of the Nigerian Shippers Council, NSC, Hassan Bello, has warned that the Council as the economic port regulator will not accept any form of arbitrariness in charges or abuse of dominate position by any operator.

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Latest

Ecobank plans additional capital raising

  /   in Business   /   Comments

BANK

Ecobank Nigeria may have begun plans to riase additional capital in order to boost its tier-1 capital. Vanguard gathered that the bank’s total capital adequacy ratio at the end of the first half of 2014 stood at 13.3 per cent.

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Our plans for fish sufficiency in Nigeria, by Adesina

  /   in Business, News   /   Comments

First Lady, Dame Patience Jonathan being welcomed  by Mr. Roman Kinda, Vice Chairman of Remontowa Holding and Minister of Agriculture, Dr. Adesina Akinwumi to the christening of ‘RV BAYAGBON’

Nigeria last week took delivery of a deep sea vessel constructed by Remomtowa Holdings for the Nigerian Institute of Oceanography and Marine Research at a ceremony witnessed by the first lady, Dame Patience Jonathan in Gdansk, Poland

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Latest

Aguiyi Ironsi int’l market begins online sales of motor parts

  /   in Business, News 9:33 pm   /   Comments

Yutong-Bus-Parts

Aguiyi Ironsi International Market in Ladipo has begun online sales of motor spare parts as part of efforts to check malpractices by unscrupulous middlemen.

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Latest

Growth in non-oil export hits US$2.970bn — NEPC

  /   in Business   /   Comments

refinery-7

The Nigerian Export Promotion Council, NEPC, has disclosed that, Nigeria realised $2.970 billion from non-oil export, in 2013 a 15.9 per cent increase over $2.561 in 2012.

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Nigeria, UK trade to hit 20bn pounds by 2020

  /   in Business   /   Comments

naira-Dollar

There are indications that trade between Nigeria and Britain has potential to hit 20 billion pounds by year 2020 if government remains proactive and encourage business to strive.

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Latest

Sourcing raw materials locally ’ll create market for farmers — FG

  /   in Business 12:35 am   /   Comments

Agric Minister, Akinwumi-Adesina

The Federal Government has called on companies to source their raw materials locally as this will create markets for farmers, boost their income and employment.
Dr. Akinwunmi Adesina, the Minister of Agriculture and Rural Development (FMARD) made the call while commending Nestle Nigeria Plc for buying raw materials for its seasoning, cereal and beverage product from local farmers

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‘Insurers, intermediaries should adopt creative approach to employment’

  /   in Insurance and You   /   Comments

insurance-pix

Insurers and intermediaries struggling to attract suitable personnel may find the situation growing even tougher unless they become more creative in their approach to employment

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Latest

FG boosts mechanised farming with N50bn

  /   in Business   /   Comments

Oil Palm Seedlings

THE Federal Government has approved N50 billion to boost mechanised farming.

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FG to phase-out heavy energy consuming devices

  /   in Energy 9:15 am   /   Comments

File photo

ABUJA: The National Council on Power, NCoP, has mandated the Ministry of Power to collaborate with relevant agencies to develop a national policy on energy efficiency and conservation.

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Poor petroleum contributions may threaten general election

  /   in Energy   /   Comments

A refinery

Analysts at FBN Capital Limited have bemoaned the negative correlation between Nigeria’s oil output and economic development, saying the oil sector has contributed negatively to the growth of the Nigerian economy.

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Elumelu back as UBA chairman

  /   in Business, News   /   Comments

uba

The Board of United Bank for Africa Plc, UBA, yesterday named Mr. Tony O. Elumelu, CON, as Chairman to succeed Ambassador Joe Keshi. Mr. Elumelu until this new appointment is Chairman/CEO of Heirs Holdings, the pan-African proprietary investment company, founded by him in 2010.

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Nigeria not ready for bilateral trade in electricity — MAN

  /   in Energy   /   Comments

naira-Dollar

By Nkiruka Nnorom The Nigerian Bulk Electricity Trader, NBET, has not demonstrated the readiness to midwife bilateral trading in electricity, said the Chairman, Manufacturers Association of Nigeria, MAN Apapa branch, Mr Babatunde Odunayo. This is even as some private sector companies are already developing the interest and capacity to sell power to the distribution companies,

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Mining: Use of explosives under control — FG

  /   in Energy   /   Comments

File Photo

ABUJA- THE Minister of Mines and Steel Development, Mr. Musa Sada, has reassured that explosives used by operators in the mining sector are under control and close watch.

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Cement coy decries shortage of power supply

  /   in Energy   /   Comments

Cement

By Chris Ochayi The Chairman of the Cement Company of Northern Nigeria Plc, Alhaji Abdulsamad Rabiu, has decried the high cost of electricity to power production equipment in his factory. Rabiu, who spoke with newsmen on the sideline of the company’s 35th Annual General Meeting, AGM, in Abuja, regretted that despite the high cost, the

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Latest

Nigerian banks invested N750bn in power sector since privatisation — Adeleye

  /   in Business   /   Comments

electricity

As Nigerian banks invested about N750 billion in the power sector since its privatisation, it’s imperative that the security of this huge exposure rests squarely on every efforts to ensure the success of the privatization process, Mr. Segun Adeleye, President/CEO, World Stage Limited has said.

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Latest

NAPTIN, NERC differ on embedded power

  /   in Energy   /   Comments

Electricity-new

Federal Government’s quest to tackle the perennial power shortages in the country may not be achieved soon, as two key organs of the government differ on embedded generation.

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Latest

Chevron identifies successes of community interventions

  /   in Energy   /   Comments

File photo: A rally to mark HIV/Aids Day.

The local unit of US oil major, Chevron Nigeria Limited, CNL, has said that its relationship and intervention with communities in its areas of operations are based on a tripod.

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Latest

Nigerian ad industry recovers, spent N103bn in 2013

  /   in Business   /   Comments

naira money

Nigeria’s advertising industry recovered in 2013 from the slide it recorded in 2012, as the media spend by advertisers across the country amounted to N103.8 billion, representing an increase of N12.95 billion over the N91.9 billion recorded in the previous year.

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Vocation and Technical Education – Key to improving Nigeria’s development. Part 4

  /   in Business 12:52 am   /   Comments

*Some of the items donated to graduates of the centres.

The focus is on the roles of technology and vocational education in enhancing entrepreneurial skills that will equip students for entrepreneurship education in Information and Communication Technology (ICT)-driven technological environment.

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AMCON offloads shares as stock market recovers N8.5trn in 5 yrs

  /   in Business   /   Comments

File photo: The  floor of Stock exchange

The Asset Management Corporation of Nigeria, AMCON may have begun to offload some of the shares it acquired from the non-performing loans of banks and other companies as the value of shares listed on the Nigerian stock market have rebounded to the level of 160.2 per cent or N8.5 trillion in five years.

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Nigerian Economy: Driving furiously into sunset

  /   in Business   /   Comments

Africa

The NATION’s second editorial for that day focused on the stagnation in oil exploration as a result of which Nigeria is now lagging behind Angola in sub-Saharan Africa.

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‘Internet fraud plagues online business in Nigeria’

  /   in Business   /   Comments

The Wired World: A graphic representation of the Internet

Co-Founder of Nigeria’s online letting agency, Tolet.com.ng, Mr. Suleiman Balogun has said that online related fraud that has come to be associated with Nigeria over time, has continued to threaten the growth of online business in the country. Tolet.com.ng, an online letting agency based in Lagos, helps people find apartment houses to rent.

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Latest

Nigeria’s economy strong amidst security concerns — NIPC

  /   in Business   /   Comments

Boko-Economy

Despite the security problem facing the country, the Nigerian Investment Promotion Commission, NIPC has said the nation’s economy still thrives after all.

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Latest

Nigeria waiting for G-20 deal on ‘bail-in’ bond for banks

  /   in Business   /   Comments

economy

The Federal Government and the Financial Regulatory Authority may tap into the G-20 proposal that will require the top banks in the country to issue special bonds as capital that can assist them in times of crises. Sources close to the Presidency disclosed that if the G-20 proposal scales through, Nigeria will take a cue from it.

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We must create models that touch lives positively  — Lai Labode, CEO, Salt & Einstein

  /   in Business   /   Comments

Lai Labode, CEO, Salt & Einstein

Lai Labode is CEO of Salt & Einstein MTS, a mobile transaction switch and business aggregator representing a single mobile financial platform that facilitates businesses of all sorts. Educated in various parts of the country, Labode, an accounting graduate of the University of Abuja with higher degrees from the University of Liverpool and Harvard Business School, had worked with Banking Limited, MoneyBox Africa, before going into private consulting. Salt & Einstein parades giants on its board, including Engr. Ernest Ndukwe, former EVC of NCC who is the company’s chairman. In the interview below, Labode defines what an aggregator is, and enunciates what his company is about in the Nigerian business firmament

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Stakeholders commend FG’s use MFBs to disburse N220bn MSME fund

  /   in Business   /   Comments

BANK

Some stakeholders in the finance industry have commended the Federal Government for its decision to use Micro-Finance Banks (MFBs) in distributing the N220 billion Micro, Small and Medium Enterprise (MSME) development fund.

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How hospitality business can shore-up Nigeria’s image

  /   in Business   /   Comments

Woodridge Hotel:  One of the bars in the  97  room  hotel  located in the reception. The reception is tastefully furnished with eyes appealing  furniture. Woodridge hotel, Lagos is a full service hotel  made up of standard, diplomatic rooms as well as  junior and woodridge club suits.

Before now, Nigeria had made few attempts at nation branding, with not so discernible achievements. This started with the ‘Heart of Africa’ project, to the ‘Good people, Great Nation’ concept, the search for a strong national branding platform that could greatly resonate with Nigeria’s internal and external public cut the picture of a twisted journey.

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