A survey conducted by Nigeria’s online vehicle marketplace, Carmudi.com has shown that Nigeria is the most expensive country to buy a car when compared to its neighbouring West African countries. The study which focused on the used car model manufactured between 2008 and 2013 provided insights into the price difference across some of the surveyed countries in West Africa.

The hospitality business in Nigeria is now peaking at N562 billion as at last year. This was disclosed by SlimTrader, West Africa Vocation Education, WAVE, a technology/e-commerce solution provider. In a chat with Vanguard, Femi Akinde, Managing Director, SlimTrader, said: “The Hospitality industry in Nigeria is worth approximately N562 billion ($3billion) in 2014 and still growing.

The capital market is a veritable tool for enhancing entrepreneurship in any economy, said Chartered Institute of Stockbrokers (CIS). Acting President and Chairman of Council, CIS, Mr. Oluwaseyi Abe, said this in his opening address at the 19th annual stockbrokers’ conference themed: ‘Entrepreneurship and the Capital Market: Fast Tracking a New Economy for Africa’ in Lagos.

To further drive the need for a cashless economy among Nigerians, Visa, Global payment technology company has entered into partnership with Total Nigeria Plc with a view to rewarding customers who use their Visa card to buy fuel at service stations in Lagos state.

One of the factors responsible for the huge housing deficit in Nigeria is that houses are not being delivered fast enough in tandem with population growth, especially in major cities like Lagos, Abuja, Port Harcourt, etc. A probable solution to this problem is to adopt the use of prefab technology in housing delivery in the country. The prefab technology will make it possible to produce houses en masse across the country very fast.

International trade is a well-known path to economic prosperity for many countries, but in Nigeria, its warped practice, marked by smuggling and evasion of duties, have become destructive drainpipes for an ailing economy. At issue is the Economic Trade Liberation scheme (ETLS).

So usually bigger printing and design companies will turn down such projects because they consider that the time that would have been spent on such projects would be better used for blue-chip company projects. So we saw this opportunity and decided to launch a solution for small scale businesses. This does not mean that we cannot attend to the big companies but we have special tailored solutions for SMEs.

Key extracts from the earnings report showed that non-interest income grew by 13.3 per cent from N18.1 billion in 2014 to N20.5 billion in the review period. Profit after tax rose by N400 million to N7.5 billion in the third quarter 2015 as against N7.1 billion recorded in the corresponding period of 2014.

Amid the fall in global oil price, the Director General of the Manufacturers Association of Nigeria MAN, Mr. Remi Ogunmefun, in this interview, says there is need for President Muhammadu Buhari’s administration to hit the ground running by initiating infrastructural projects. Excerpts:

“The non-oil Nigerian economy has become a slumbering colossus which would now awaken. “ The above quotation made by Paul Collier, a professor of development economics at Oxford University ought to stir our political leaders into actions to dig deeper into other areas of economy, apart from oil, so as to fully exploit God-given potential resources, tap them with all urgency, in order to avert the economic downturn that is already knocking at our door steps.