Nigeria, Indonesia, Mexico to displace UK, France out of top 10 largest economies
Will the shift in global economic power continue?’’ This presents long-term projections of potential GDP growth up to 2050 for 32 of the largest economies in the world, covering 84 per cent of total global GDP. According to the report, the current global economic power shift away from the established advanced economies in North America, Western Europe and Japan will continue over the next 35 years, despite a projected slowdown in Chinese growth after around 2020.
Study recommends floating exchange rate for Naira
A study on the impact of exchange rate on domestic prices has recommended a floating exchange rate for the naira. This, according to the study is because the impact of exchange rate on domestic prices is low, incomplete, and it takes about two years. “. In other words, the fear of floating that the authorities exhibit in Nigeria may be unfounded”, the study asserted.
Sterling Bank’s expansion plans on track, says CFO
Chief Financial Officer (CFO) Executive Director , Sterling Bank, Mr. Abubakar Suleiman said that it the bank’s expansion plans unveiled in 2013 is on course and it would soon proceed with the next phase of its growth strategy. Suleiman disclosed this at an interactive session with Business Editors in Lagos recently. According to him, the bank currently has 1.5 million customers and has been able to achieve over three per cent market share from 1 per cent a few years ago.
Fidelity Bank raises N30bn to boost lending to SME
Fidelity Bank Plc has commenced measures to raise N30 billion for the purpose of increasing lending to small and medium enterprises (SMEs). This week the bank will offer to the investing public a N30 billion, seven years bond at interest rate of 16.48 percent. The application for the bond, which would mature in 2022, will open and close on Thursday May 13th 2015.
Strong corporate governance critical to current low-price environment – FBN capital
FBN Capital Limited has said that strong corporate governance structures are critical to attracting funding for Oil and Gas development in the prevailing low-price environment. Rolake Akinkugbe, Head of Energy and Natural Resources at FBN Capital, disclosed this at the eighth edition of the annual sub-Saharan African Oil and Gas Conference 2015 themed, ‘Optimising innovation and investment opportunities in the upstream, downstream and service sectors’organized by Energy and Corporate Africa which took place in Houston Texas.
AFN ‘ll not close doors to any Nigerian based abroad
THE President of the Athletics Federation of Nigeria (AFN), Evangelist Solomon Ogba, has described as incorrect, accusations and media reports that the federation is neglecting athletes based in Nigeria and supporting athletes based abroad.
