Microfinance Institutions (MFIs) in the country have said that the sub-sector is bedeviled by regulatory bottleneck and as a result, non-governmental organisations intending to engage in providing micro finance credit are unable to do so. They also said that the Micro, Small and Medium Enterprise Development Funds (MSMEDF) set up by the Central Bank of Nigeria (CBN) to increase financial access for micro and small enterprises is encumbered with collateral requirements making it inaccessible.

The need to expand the depth of the Nigerian capital market through introduction of more products has been at the heart of the repositioning efforts of the regulators of the market led by the apex regulatory body, the Securities and Exchange Commission (SEC) since the 2008 crash. In line with this, the Commission is considering developing the non-interest capital market to ensure that the market fulfils its role of financing infrastructure development in the country.

Forte Oil is likely to close the current financial year with the lowest sales revenue in three years but it could attain a new peak in profit. The oil marketing company lost profit growth momentum last year but it may register the only strong profit improvement in the petroleum marketing sector in 2015. The company closed third quarter operations with accelerated growth in profit from N2.53 billion at the end of the second quarter to N4.28 billion.

Conoil has not maintained a stable record earnings growth in the past five years and a sustaining drop in profit looks likely for the oil marketing company this year. The company closed last year with the lowest sales revenue figure in four years and profit fell to less than one-third of the preceding year’s figure. This year, sales revenue is headed for another sharp drop based on the second quarter performance and profit could drop for the second year as well.

Royal Exchange Plc has partnered with Foundation for Youth Education, a non-governmental organisation to organise a leadership training conference for secondary school prefects in Lagos State. The conference, which held last week at the Igbobi College, Yaba, Lagos brought together over 800 secondary school prefects from 40 schools across Lagos State. Speaking to journalists on his company’s decision to partner with the NGO, Group Managing Director of Royal Exchange, Mr. Chike Mokwunye, said that the company is motivated by an abiding sense of duty and patriotism to contribute to nurturing the Nigerian youth to be productive and responsible citizens.

Former Head of State General Yakubu Gowon said Nigerian Government need to holistically key into the Small and Medium Enterprise (SME), philosophy in order to help the country diversify it’s economy. Speaking at this year’s 22nd Annual Lift Above Poverty Organisation (LAPO) Development Forum in Abuja, General Gowon maintained that for the country to diversify it’s economy SME calls for deliberate and calculated efforts by governments at all levels and precipitate value chain reaction in the economy.

Real estate investment is considered to be one of the safest, due to the appreciating values of property around the world. Interestingly, when compared to other forms of investments, the real estate depreciation rate is very low. This is ideal for prospective investors to generate profit through rents or leases of varying lengths. As an attractive investment opportunity, not everyone can invest in real estate. However, if you want to venture into property, there are simple ways to approach your investment.

EUROPEAN shipowners have expressed concern over the International Maritime Organisation’s (IMO) effort to eliminate the emission of carbon dioxide from vessels by 2016. This is coming ahead of the European delegation to the Paris COP 21 meeting in December, and issued a warning for all Parties to work through the International Maritime Organisation (IMO) to develop a global policy framework to enable an effective response, and to take measures to set adequate targets before the end of 2016 for achieving the necessary reductions in the light of the 2 °C target.

High interest rates charged by banks on mortgage and real estate have continued to hamper the delivery of affordable housing in the country, further compounding the nation’s housing deficit, estimated to be about 17 million units. Records show that interest rates charged by banks on real estate/construction, and mortgages range between 20 and 30 percent. But in reality, property developers lament that they can hardly access any loan from banks for less than 28 percent.

The Finnish Embassy in Nigeria and the Finland Trade Centre have concluded plans to showcase Finnish firms and their products in Lagos, in the first week of November with a view to strengthening the business relationships between Nigerian and Finnish companies. In this interview, the Finnish Ambassador to Nigeria, Pirjo Soumela-Chowdhury explains the idea behind exhibition