Business

Guinness declares N265bn revenue, PAT up 53% to N25.3bn

Guinness declares N265bn revenue, PAT up 53% to N25.3bn

By Etop Ekanem Guinness Nigeria Plc has reaffirmed its confidence in the strength and future of its business, as the Company enters a new phase of growth underpinned by improved profitability, a significantly stronger balance sheet and continued investment in its brands, manufacturing capabilities and route to market. The company shared this outlook during its […]
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We expect better business environment through right policies  – Industrialists

We expect better business environment through right policies – Industrialists

“Normally one would expect 2016 to be markedly better in all these areas. The budget appropriation for 2016 had been variously described as capable of lifting the country out of the woods. One hopes and prays this would be so, but the continued slide in the price of oil which is the premise of the budget gives cause for concern. As a nation we need to find alternative source of funding fast. In this regard one hopes that the Solid Minerals sector would be adequately explored.

Doing business in Nigeria riskier than fighting Boko Haram – Eric Umeofia, Erisco Foods CEO

Doing business in Nigeria riskier than fighting Boko Haram – Eric Umeofia, Erisco Foods CEO

Talking to the Chief Executive Officer of Erisco Foods Limited, Chief Eric Umeofia, you will feel the pains of a man that has high hopes for the country’s manufacturing sector, but feels dejected by the activities of those holding the economy down. His tomato paste plant in Lagos, one of the biggest in Africa, provides jobs for many Nigerians and he believes he can create more jobs if the system is clean. Today, the industry is plagued by importation of substandard but cheap tomato paste from China, so, Umeofia is left to fight to keep his local plant afloat and has become a strong advocate for the manufacture of goods locally as against importation. In this interview, Umeofia shares his pains and hopes for the manufacturing sector.

Emefiele and the economics of the Naira free fall

Emefiele and the economics of the Naira free fall

Ever since the naira entered into a tail-spin, performing woefully against other currencies, there has been an outpouring of concern by disillusioned citizens. Perhaps because of the high prevalence of poison in contemporary politics in the country, all manner of suggestions have been made.

2016: SMEs need Buhari’s blueprint

2016: SMEs need Buhari’s blueprint

The fact that Small and Medium Enterprises have not made the desired impact on the Nigerian economy in spite of all the efforts and support of the succeeding administrations and government calls for concern. SMEs in Nigeria need a new chapter in 2016 from Buhari’s administration to operate optimally and also boot economic growth because its role in the development of any economy cannot be over emphasized.