Thursday July 30th, 2015
Thursday July 30th, 2015

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Nigeria can get $15bn yearly investment from America – Prof. Ekpo

  /   in Business 8:56 pm   /   Comments

Prof. Akpan Ekpo

By Udeme Clement Professor Akpan Ekpo, the current Director General, West African Institute for Financial and Economic Management (WAIFEM), in this interview with Sunday Vanguard Business, gives guidelines on how to recover the country’s looted funds, how Nigeria can gain from the President’s visit to the US and other issues. Excerpts: What will be the

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Financial experts laud Oteh’s appointment by World Bank

  /   in Business   /   Comments

Arunma Oteh, DG-SEC

Two financial experts on Saturday lauded Ms Arunma Oteh’s appointment as Vice President/Treasurer of the World Bank.

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FG to urged privatise govt assets via stock exchange

  /   in Business, News 12:49 am   /   Comments

Operators in the nation’s capital market have called on the Federal Government to use the Nigerian Stock Exchange, NSE to privatise public assets so that majority of Nigerians can benefit from the exercise. The operators noted that using the stock exchange would provide the needed transparency instead of allowing few people to benefit from the privatisation exercise.

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Labour makes case for value added production

  /   in Business, News   /   Comments

Nigeria and indeed Africa currently suffer huge capital inadequacy. Nigeria’s foreign-currency reserves has sharply fallen by some 27 percent to $29 billion since the end of last September. CBN measures aimed at capital application and capital control in line with its statutory objective will definitely enhance domestic production in place of unhelpful luxury imports.

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What SLOT.ng means to Nigeria’s image in world business

  /   in Business, News 8:59 pm   /   Comments

SLOT

All the seven wonders of the world put together may arguably not have the level of impact the tech wonder has in human, business and social lives. Since the discovery of technology either as way of communication or a way of solving other problems, the world has never been static. It could actually be correct to say that technology has put much reality to the saying that the ‘earth moves…’ Or that ‘the world revolves….’.

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Wrong ways organisations are hoping for the best

  /   in Business, News   /   Comments

I like the saying – ’if an opportunity does not knock, you will need to build a door and knock on the opportunity.’ That means you need to be proactive, decisive and above all an opportunity builder who does not sit all day long waiting for the best to magically come his/her way. Finally, in the remaining months of the year, don’t just want to be the best, learn how to be the best and just do it.

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Avoiding small-business financing mistakes

  /   in Business, News   /   Comments

Be aware of your real interest rate – Surprisingly often, people who think they know how to calculate interest rates often don’t. For example, if you borrow N1,000,000 and pay N1,100,000 back over three months on weekly instalments, your interest rate wasn’t 10 percent, as simple math would dictate. Taking a closer look at the time frame for the note and your average principal outstanding reveals that it’s actually closer to 80 percent. That’s a difference of 70 percentage points in your financing cost.

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N220bn intervention fund: MSME operators lament inaccessibility

  /   in Business, News   /   Comments

naira money

THE Micro, Small and Medium Enterprises (MSME) sector is acknowledged globally as the oil that lubricates the engine of socioeconomic transformation of any nation. The sector is strategically positioned to create up to 80 percent of jobs, improve per capita income and contribute significantly to Gross Domestic Product (GDP).

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Employees compensation: NSITF disburses N267m in 4 years

  /   in Business, News   /   Comments

Nigeria Social Insurance Trust Fund (NSITF) said it has disbursed N267 million under the Employees Compensation Act, ECA, in the last four years. Speaking on the performance of the programme at the 58th Annual General Meeting (AGM) of the Nigeria Employers Consultative Association (NECA) in Lagos , Managing Director of NSITF, Alhaji Umar Munir, said that the amount disbursed so far covered 2,800 employees, who have suffered one degree of injury or the other in the line of duty.

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Huge benefits coming with Lafarge-Holcim merger – says Hoddinot

  /   in Business, News   /   Comments

The new Managing Director of Lafarge Africa Plc has assured that the just concluded merger of Lafarge Group and Holcim will hugely benefit the Nigerian economy, the company’s shareholders, host communities and other stakeholders. These benefits range from more taxes to the government, high returns on investment to shareholders and more corporate social responsibility in host communities.

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Buhari urges American entrepreneurs to exploit liberal trade, investment climate in Nigeria

  /   in Business 12:02 am   /   Comments

Buhari-Obama-Vanguard-3

President Muhammadu Buhari, yesterday, in Washington urged American entrepreneurs to use the opportunities offered by the liberal trade and investment climate in Nigeria to do profitable business. Buhari, who gave the advice at a business forum organised by the United States Chamber of Commerce and The Corporate Council on Africa, said that his administration would continue with the Federal Government’s privatisation programme in various sectors of the economy.

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Nigerians spent N1.7trn on petrol in 2014

  /   in Energy 11:10 am   /   Comments

crude-oil-pipe-702x336-436x336

NIGERIANS spent about N1.69 trillion on Premium Motor Spirit, also known as petrol, in 2014, according to data obtained from the Nigerian National Petroleum Corporation, NNPC.

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Comments, queries for CBN and banks on BVN

  /   in Investors Forum   /   Comments

CBN Governor, Mr Godwin Emefiele

The two series article titled, BVN Enrolment: Facts behind the extension of deadline, generated several comments and questions from readers, especially online readers. Some of the questions are directed to the Central Bank of Nigeria, while others are to the banks. Some of them are presented hereby presented.

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Investors earn N233bn in first half 2015

  /   in Business   /   Comments

Shoe-manufacturers

Investors in the Nigerian Stock Exchange have earned about N233.7 billion from dividend payments in the stock exchange during the first half of 2015.

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Oando seeks legislation on renewable energy use

  /   in Energy   /   Comments

Renewable-energy

Oando Energy Resources, OER, has called on governments at all levels to develop legislative and regulatory frameworks to drive renewable energy use.

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Fossil fuel’ll remain dominant till 2040 —ExxonMobil

  /   in Energy   /   Comments

Despite the significant successes in alternative fuels, the use of fossil fuel or hydrocarbons will remain dominant until at least 2040, America’s oil giant, ExxonMobil has predicted.

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Top 10 performing stocks

  /   in Investors Forum   /   Comments

File photo: The  floor of Stock exchange

Caverton Offshore Support Group Plc led the cream of price gainers last week on the Nigerian Stock Exchange, NSE with 7.89 per cent or N0.27 per share increase to close at N3.69 per share from N3.42 per share penultimate week.

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AGM: Are companies meeting shareholders’ demand? (2)

  /   in Investors Forum   /   Comments

Nigerian-Stock-Exchange-(NS

Last week ,we discussed the topic bothering on AGM and how companies have been able to utilise that platform to solving issues identified by the shareholders. Contiuning,shareholders have said that companies don’t address some issues because sometimes the right steps are not taken by the them that are supposed to report such un-addressed issues to the regulatory authority.

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Bayelsa govt set to hold 2nd economic investment forum

  /   in Investors Forum   /   Comments

Bayelsa state said all is set to hold its 2nd economic investment forum in the state.

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Jigawa govt backs Dangote’s rice farm project

  /   in Business   /   Comments

JIGAWA state government as well as the host communities has thrown their weight behind the Dangote Rice project expected to be the largest in Africa and with prospects for creation of thousands of job opportunities.

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Union Bank lends N194bn to energy firms

  /   in Energy   /   Comments

Naira-6

Union Bank Nigeria Plc lent about N193.6 billion to energy firms in two years, 2013 and 2014, amid fears by the Central Bank of Nigeria, CBN that Nigerian banks are in danger of capital erosion due to falling oil price in the international market.

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Tony Elumelu Foundation Bootcamp: Olusola’s 21 Lessons of a Great Entrepreneur

  /   in Business 4:53 pm   /   Comments

Covenant-University-Hosts-Africa-s-Entrepreneurs-Boot-Camp_large_shadow

THE 2015 Tony Elumelu Entrepreneurship Programme, TEEP, Bootcamp was a platform to stimulate the thinking of youths in Africa towards entrepreneurship.

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Coming boom in Nigeria’s automotive industry

  /   in Business   /   Comments

*Zahav auto assembly line in Ikotun Lagos

Since the National Automotive Industry Plan (NAIDP) was announced by the Federal Government in October 2013, the Nigerian automotive industry has witnessed serious interest from global and local automobile brands in setting up and doing business in a very promising sector and this has been a welcome development, but my premise has yet remained that – the Nigeria automotive industry should begin to look beyond assemblage to primary production, manufacturing and exportation because we are still trailing behind in consideration of our production capacity, availability of raw materials, political will, technological know-how and market power.

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Importers lament CBN’s enforcement of proceeds’ repatriation rule

  /   in Business   /   Comments

CBN Governor, Mr Godwin Emefiele

At the backdrop of expected positive impact of the recent foreign exchange policy changes by the Central Bank of Nigeria (CBN) on the export sector of the economy, operators in the agro-allied industry, has said they are losing billions of Naira in revenue daily, a development which has forced many of them out of the business.

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NBCC seeks legal framework for real estate sector

  /   in Business   /   Comments

The Nigerian-British Chamber of Commerce (NBCC) has called on the government to come up with viable legal framework for real estate sector to provide affordable houses for Nigerians.

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Available natural resources led me into wine production – Okpala

  /   in Business   /   Comments

Okpala

M r. Anthony Okpala is the Managing Director/ Chief Executive Officer of Carlsbury Winery Limited, makers of Cartier wines. Okpala has a first degree in Food Technology and a master’s in Business Management from Texas A & M University, USA.

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Nigeria loses $200m annually in untapped traditional medicine — Esuleke

  /   in Business   /   Comments

The Chairman, Traditional Medicine Council of Osun state, Chief Idowu Omokayode Esuleke, has said that Nigeria loses about $200 million in untapped potential in the traditional medicine, calling on the Federal Government to harness the opportunity as a veritable alternative to oil and revenue drive.

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BVN: Central Bank sets up centre in South Africa

  /   in Business 9:06 pm   /   Comments

BVNn

Nigeria`s Consul General in South Africa, Amb. Uche Ajulu-Okeke, said on Sunday that the Central Bank of Nigeria has approved a centre to conduct biometric verification for Nigerians in South Africa.

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Proffering solution to SMEs and devaluation of Naira

  /   in Business, News 12:05 am   /   Comments

SMEs returns

Nigeria and many other African nations were forced to adopt SAPs because the West claimed, African nations had become too heavily indebted from consuming too many manufactured goods they do not produce. How does Nigeria today compare with Nigeria in 1986? It is almost 27 years of disgrace for Nigerians and other Africans.

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Moneygram partners Acesss Bank on Big Splash promo

  /   in Broken Links, Business, News 9:32 pm   /   Comments

MoneyGram, in conjunction with Access Bank, has launched a special consumer promo tagged Access Bank MoneyGram Big Splash Promo to reward customers who undertake receive transactions at all branches of the bank between July and December this year.

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Solar energy to boost cottage industries in villages soon

  /   in Energy, News   /   Comments

Thatch house powered by Solar Energy.

TWO weeks ago, United Nations Development Programmes, UNDP, and the Bank of Industry, BOI, empowered two local firms in the renewable energy sector with loans totaling over N160 million, to connect Solar photovoltaic (PV) panels to 1, 200 houses in remote villages that have not been reached by national grids.

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FCMB, Acugas, others sign N87.7bn gas infrastructure deal

  /   in Business, News   /   Comments

First City Monument Bank, FCMB Ltd and Acugas Ltd have entered into a financing agreement that will see the bank and four others lend $445 million, (about N87.7billion) to Acugas to develop gas infrastructure in Nigeria.

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