Navy nabs vessel with 10,000ltrs of diesel
PORT HARCOURT—Navy has handed over a vessel and wooden boats conveying 10,000 litres of illegal diesel, to the Economic and financial Crimes Commission, EFCC, in Port Harcourt.
Amnesty: Students in UK beg for payment of 6 months outstanding stipends
Nigerian students in the United Kingdom participating in the Federal Government’s amnesty programme under the aegis of Niger Delta Scholarship Students’ Forum, NDSSF, United Kingdom, yesterday appealed for the payment of amnesty students in the United Kingdom, who have outstanding cases of non-payment of stipends accumulating to six months. They also want the government to look into cases of students who have not received their in-training and house allowances.
Agencies with quality, innovation’ll survive 2016, say experts
Expected Marketing Communications budget cut by advertisers in the face of difficult economic and political decisions occasioned by the slide in the international oil market is likely to trickle down to media agencies, forcing them to innovate to survive the economic hardship. However, the growing challenges in the Nigerian economy resulting from slump in oil prices, ever rising dollar, free failing Naira, greater competitive pressure and poor governance are all said to be responsible for the pressures on businesses in Nigeria.
Nigeria’s inflationary pressures to persist despite global food price decline – FSDH Research
Articulating the macroeconomic state of Nigeria’s economy as at starting line for 2016 fiscal year the inflationary pressure appeared to have sustained through last month, despite declining prices of food and related products in the international market. At the backdrop of its research, FSDH Merchant Bank Limited, a Lagos based investment bank, said it expects the December 2015 inflation rate year-on-year, Y-O-Y, to inch up to 9.42 per cent from 9.37 per cent recorded in the preceding month.
Economy hasn’t collapsed – Amaechi
The Minister of Transport, Mr. Rotimi Amaechi, said Nigerian economy has not collapsed as being speculated, stressing that the year 2016 is going to be tough given the fact that crude oil price has not stabilised. Also, a renowned financial expert, Mr. Bismarck Rewane has said that the Federal Government’s fiscal and monetary policies need to be harmonised in order to give investors confidence to invest in the country.
Tiwa Savage leads Pampers campaign
Procter & Gamble (P&G) Nigeria, a consumer goods manufacturing company has picks popular R&B singer, Tiwa Savage to lead its new campaign “#MomsKnowBest” for its flagship brand, Pampers Baby-Dry diaper.This was disclosed at the unveiling of the campaign with the new television commercial, TVC of Pampers Baby-Dry Diaper held in Lagos.
Commercial banks should grant loan to MfB’s – IFC
The International Finance Corporation has advised Commercial Banks in Nigeria to see it as a duty to assist in funding Microfinance Banks (MfBs) in the country. Country Manager for IFC Nigeria, Eme Essien-Lore, gave the advice at a function in Lagos, where she said that there are lots of potential for commercial banks to be lending to microfinance banks in the country than looking for external capital.
Expected lower aggregate consumption in 2016
When Morita wrote the article from which that statement was lifted in 1992, I was a Senior Lecturer/Consultant at the Nigerian Institute of Management, NIM, and an avid reader of the Harvard Business Review. That explains why the VBQ is filled with insights from the HBR. But, in 1992, Japan was the second largest economy in the world and the second biggest manufacturer; the USA was first in both. China was nowhere in sight and the VBQ was still fifteen years away from being published. But, I had started on it.
Insurance companies, others owe banks N790bn
Insurance companies and other financial institutions are indebted to commercial banks to the tune of N790billion as at September 2015, according to the Central Bank of Nigeria (CBN)’s 2015 Quarterly Statistical Bulletin. The indebtedness of insurance companies, capital market operators and other financial organisations to banks in the country was N763, 392.26 in December 2014 and rose to N849, 595.55 in August 2015 before it went down to N790, 241.68 as at September 2015.
Oil theft: Oyovbaire, Ukah urge alliances amongst Hostcom, security
Chairman of Delta State Advisory and Peace Building Council, Prof. Sam Oyovbaire, has sued for strategic alliances among Host Communities in Oil Producing Areas and security agencies in securing oil and gas investments in the state.
Mozia sets new shot put record
Nigeria’s number one shot putter, Stephen Mozia is muscling his way to world recognition as he heaved 21.03m to set a new national record and also set the pace for the 2016 season. Mozia, a student of Cornell University in New York, USA raked in the performance at the Commodore invitational held in Nashville Tennessee at the weekend.
