#Economy: NBS-Value
of Total trade will Retard in 2016
Even though it has been estimated to increase by 2.1 percent,
the value of total trade is expected to slow in 2016, the Nigerian Bureau of
Statistics has said. NBS, which made these predictions in its Economic Outlook
for 2016, however, stated that, @beyond 2016, both imports and exports are
expected to increase and total merchandise trade are expected to average 15.61
percent growth during the period.
Published in ThisDay
Newspaper on Sunday 6th March, 2016
#IndustryPulse: The
Smooth Transition at UBA
In 2010, the Central Bank of Nigeria (CBN) came out with a
new regulation compelling all managing directors of banks that have spent a
minimum of 10years to relinquish their position, pan-African financial services
group, United Bank for Africa Plc., was the first bank to immediately announce
a successor to the then Group Managing Director and CEO, Mr. Tony Elumelu.
Phillips Oduoza, who was the most senior executive director,
succeeded Elumelu.it was a seamless transition. With the appointment of Oduoza,
the bank has also announced the appointment of a new deputy managing director
in the person of Kennedy Uzoka.
Published in ThisDay
Newspaper on Sunday 6th March, 2016
#MoU: NCMM, Daisfund Africa Partner on Digital Museum
The National Commission for Museums and Monuments (NCMM) has
signed a Memorandum of Association (MoU) with Diasfunds Africa
Limited-initiators of the digital museums and campaign forum-Save African
History.
The proposed museum is the first of its kind in Africa. Such
museums are referred to as virtual museums as end-users can sit I the comfort
of their homes and offices and have access to images that can be used for
academic and recreational purposes. With this users from the entire globe, particularly,
from the nations of the West shall start paying and children may start taking
pride in their past.
Published in ThisDay
Newspaper on Sunday 6th March, 2016
#IndustryPulse: Onyema re-appointed CEO as activities slow at Stock
Exchange
Citing a reflection of his contribution, the National Council
of the Nigeria Stock Exchange (NSE) has renewed the appointment of Mr. Oscar
Onyema as the Chief Executive Officer (CEO) for second term of five years.
Onyema, whose first tenure expires on 31st March 2016, has been
holding sway at the exchange since April 2011.
But the re-appointment came on a weekend that the exchange
experienced sluggish activities as measured by volu7me and value of trading for
the week, which ended last Friday.
Published in ThisDay Newspaper
on Sunday 6th March, 2016
#Oil: NNPC secures Delivery of 930000MT of petrol for March
The Nigerian national Petroleum Corporation (NNPC) last night
disclosed that it has already secured about thirty-one (31) cargoes of petrol
to take care of Nigeria’s consumption for the month of March.
NNPC said each of the thirty-one (31) vessels will bring in
about three thousand (3000) metric tonnes of petrol, thus translating to a
cumulative volume of nine hundred and thirty thousand (930,000) metric tonnes
(MT). it added that at least one of the 30,000MT will be delivered to the
country every day.
Published in ThisDay
Newspaper on Sunday 6th March, 2016
#MSME: NPF
microfinance bank seek CBN approval to deepen operations
The NPF Microfinance bank has disclosed that it is willing to
offer more lending opportunities to Small and Medium Enterprises (SMEs) in the
country at a single interest rate to boost their operations.
The bank said it is currently working out modalities to
spread its services across the country with the aim to accommodate many of the
SMEs that require funding. To achieve this, the bank has formally applied to
the Central Bank of Nigeria (CBN) for approval to open more branches in line
with its penetration plan.
Published in ThisDay
Newspaper on Sunday 6th March, 2016
#MSME: Firm unveils cluster initiative for Nigerian SMEs
Workplace Plus Limited, operators of the Regus Franchise in
West Africa, has unveiled a cluster initiative that will offer Small and Medium
Enterprises the benefit of maximizing profit in Nigeria’s current harsh
economic environment.
The initiative, which is the first of its kind, brings
company under one operating environment with necessary infrastructure that will
enhance business development.
Published in ThisDay
Newspaper on Sunday 6th March, 2016
#Oil: Three Nigerian firms bid for Uganda oil wells
The Ugandan government has announced that seven (7) oil
companies, three from Nigeria, have submitted bids for exploration of oil in
the country’s next round of licensing.
Published in the Punch
Newspaper on Sunday 6th March 2016
#FG to empower 740,000 youths in agriculture
In its determination to reduce the level of youth
unemployment, the federal government unveiled plans to empower 740,000 young
agricultural producers in rural areas under its Youth employment and
Agriculture Programme.
Published in the Punch
Newspaper on Sunday 6th March 2016
#Agric: FAO stresses importance of fish farming
A United Nations Agency, the Food and Agricultural
Organization has stressed the importance of fish farming, noting that it is the
most sustainable and fastest growing food sub-sector in the world.
The organization made this known during a summit in Morocco
that brought together delegates of fishery ministries from more than fifty (50)
countries to discuss emerging governance needs in the sector.
Published in the Punch
Newspaper on Sunday 6th March 2016
#StakeholderAction: Labour draws battle line with NERC, DISCOS
A final showdown between labour and the duo of Nigreian
Electricity Regulatory Commission (NERC) and Distribution Companies (DISCOs)
appear imminent, following decision by the bodies to continue implementation of
the new electricity tariffs.
Published in the
Guardian Newspaper on Sunday, 6th March, 2016
#Awards: Entry open for Community Development Awards
Community Development Awards Foundation, organizers of the
annual Ikorodu Community Development Awards (ICDA) has announced the
commencement of nominations for the 2016 edition, slated for Saturday, April
30th 2016 at the Ikorodu Ultra-modern town hall.
Published in the
Guardian Newspaper on Sunday, 6th March, 2016
#Empowerment: BoI empowers Gombe rural settlement, commissions 24 KW
solar power
Determined to stimulate economic activities by empowering the
Small and Medium Enterprises across the country, the Bank of Industruy has
commissioned twenty-four (24) kilowatt micro-grid solar solution in Kolwa,
Kaltungo local government area of Gombe state.
Published in the
ThisDay Newspaper on Monday, 7th March, 2016
#Business: Stanbic IBTC highlights opportunities in new banking
proposition
In a renewed drive to empower Nigerians, Stanbic IBTC bank
Holdings Plc., has launched a nationwide campaign that offers financial
solutions to help individuals and businesses achieve their aspiration.
Published in the
ThisDay Newspaper on Monday, 7th March, 2016
#Power: CPC, NERC to enforce 60-day electricity metering scheme
The Consumer Protection Council (CPC) and the Nigerian Electricity
Regulation Commission (NERC) have jointly resolved to enforce the mandatory
60-day order to electricity distribution companies (DISCOs) to either meter or
stop billing consumers under the Credited Advance Payment for Meter
implementation (CAPMI) scheme.
Published in the
ThisDay Newspaper on Monday, 7th March, 2016
#Sterling Bank, Innoson Motors sign Auto Finance deal
In line with the Federal Government’s desire to aggressively
drive the patronage of made-in-Nigeria goods, Sterling bank Plc. said it has
taken a bold step to champion the use of locally manufactured goods and
services by going into a partnership with Innoson Motors to finance the
purchase of locally made vehicles produced by the company.
Published in the
ThisDay Newspaper on Monday, 7th March, 2016
#IndustryPulse: Wapic Insurance group appoints Managing Directors
The Board of directors of Wapic Insurance Plc. has announced
the appointment of Mrs. Adeyinka Adekoya as the Managing Director/ Chief
Executive Officer of the company.
Published in the
ThisDay Newspaper on Monday, 7th March, 2016
#Power: Dangote plans to generate 12,000MW of electricity
The President, Dangote Industries, Aliko Dangote, has said
his company should be able to generate about 12,000 megawatts of electricity
for the country by 2018.
He also said his business will start selling foreign exchange
to the Central Bank of Nigeria by 2020
Published in the Punch
newspaper on Tuesday, 8th March 2016
#Economy: Domestic transactions fall by N18.48bn in one month
Domestic transactions in Nigeria’s stock market fell from
N59.21bn to N40.73bn between December 2015 and January 2016, the Nigeria Stock
Exchange revealed in a report on its website.
Published in the Punch
newspaper on Tuesday, 8th March 2016
#Event: LCCI, PwC hosts forum on economy
The Lagos Chambers of Commerce and Industry and
PricewaterhouseCoopers will on Thursday host a stakeholders’ forum on the state
of the Nigerian Economy
Published in the Punch
newspaper on Tuesday, 8th March 2016
#Economy: FG will exploit construction sector for economic growth
The Minister of Power, Works and Housing, Babatunde Fashola,
has said the federal government will exploit the country’s construction sector
to grow its economy.
Published in the Punch
newspaper on Tuesday, 8th March 2016
#IndustryPulse: Access bank reaffirms commitment to gender parity
Access Bank Plc. says it is seeking to promote gender
equality to commemorate the 2016 International Women’s Day.
As such, the lender said a two-day programme focusing on
advocacy and gender awareness had been designed to demonstrate its commitment
to gender equality, women empowerment and inclusiveness.
Published in the Punch
newspaper on Tuesday, 8th March 2016
#Event#ICT: New Horizons begin U-17 ICT competition for schools
New Horizon Computer Learning Centres, a private Information
and Communication Technology training institute, is organising the first annual
Under-17 national ICT competition from February to March 2016 to boost and
elevate ICT curriculum and skills empowerment at the primary and secondary
school level.
Published in the Punch
newspaper on Tuesday, 8th March 2016
#Education: UNIMED to raise N1bn yearly
The University of Medical Sciences, Ondo, Ondo State, says it
will be generating N1bn through its friends annually.
The initiative, to be accomplished via the ‘Friends of UNIMED
Fund’, the Vice-Chancellor, Prof. Friday Okonofua, said, was to generate money
to develop the university to enable it attain its mission.
Published in the Punch
newspaper on Tuesday, 8th March 2016
#Health: FG to establish Health centres
The Minister of State for Health, Professor Osagie Ehanire,
has said that the Federal Government would soon establish one primary care
health centre in every ward across the country.
Published in the Punch
newspaper on Tuesday, 8th March 2016
#Infrastructure: new roads tickle Edo communities
Life will not remain the same for about eighty (80)
communities in Orhionmwon local government area of Edo State, as the newly
constructed eighty-seven kilometre (87km) road running through these
communities has been commissioned.
Published by the
DailySun Newspaper on Tuesday, 8th March, 2016
#Unemployment#MoU: BoI to reduce unemployment rate to single digit
Worried by the rising number of unemployed youths in the
country, the Bank of Industry has expressed its desire to reduce the rate to
single digits. Acting Managing Director of BoI, Mr. Waheed Olagunju, stated
this in Lagos yesterday at the Youth Empowerment Support (YES) programme
Memorandum of Understanding signing ceremony with entrepreneurship capacity
building facilitators in Lagos yesterday.
Published by the
DailySun Newspaper on Tuesday, 8th March, 2016
#IndustryPulse#Energy: federal government breaks NNPC into four units
The Nigerian National Petroleum Corporation (NNPC) has been
unbundled into four units in a major restructuring of the 39-year old oil
giant. Minister of Petroleum resources, Dr Ibe Kachikwu yesterday announced the
new structure at a briefing in Abuja.
Published in the Nation
Newspaper on Wednesday, 9th March, 2016
#Health: LUTH opens breast cancer clinic
Lagos University Teaching Hospital (LUTH) yesterday opened a
breast cancer clinic to mark the International Women’s Day (IWD). The clinic
will be run in collaboration with a non-governmental organization (NGO), Run
For a Cure Africa (RFCA).
Published in the Nation
Newspaper on Wednesday, 9th March, 2016
#Health: Group sensitises residents to clean environment
A Non-Governmental Organization (NGO) has stressed the need
to improve the health conditions of people living in the rural areas of Lagos
State. Sharing With Others says this can be done through provision of portable
water, garbage bins, adequate training for community health workers and the
dissemination of health related information.
Published in the Nation
Newspaper on Wednesday, 9th March, 2016
#Events: Abuja hosts social entrepreneurship conference
Abuja, the nation’s capital, is hosting a major social
entrepreneurship conference next week. The Conference slated for between March
15 and 17, is designed to promote positive entrepreneurship as vehicle for
positive social impact and innovation. The social conference which is themed:
‘Social Enterprise Impact, Innovation and Sustainability’ will take place at
the Abuja Enterprise Agency (AEA) Entrepreneurial Complex. The programme is
organised by APLUS trainers, a training and business consulting firm with a
mission to support entrepreneurship development and small businesses in
Nigeria.
Published in the Nation
Newspaper on Wednesday, 9th March, 2016
#Investment#IndustryPulse: Nigeria records 21.6% foreign portfolio
deficit amidst forex strain
Foreign Portfolio Investment (FPI) in Nigeria has continued
to dwindle as latest investment report indicates that Nigeria recorded 21.6
percent foreign Portfolio Investment deficit in January 2016.
Published in the Nation
Newspaper on Wednesday, 9th March, 2016
#IndustryPulse: LIRS achieves N24.5b monthly IGR
Lagos Internal Revenue Services (LIRS) generated N24.5
billion as the state’s Internally Generated Revenue (IGR) for January this
year, the state Finance Commissioner, Mustapha Akinkunmi has said. Speaking
yesterday during a media briefing ahead of the state’s tax reform launch, the
commissioner said the January figure constitute ninety-eight percent (98%)
performance target for the month and twelve percent (12%) rise when compared
with last year’s figure for the same period.
Published in the Nation
Newspaper on Wednesday, 9th March, 2016
#FCMB deepens CSR, empowers communities
First City Monument Bank (FCMB) has empowered the people
living in Bayewu community in Ikorodu, Lagos State under its Corporate Social
Responsibility (CSR) initiative. The social intervention training programme,
recently organized by the lender in partnership with MitiMeth to use water
hyacinths in making handicrafts, have begun to yield positive results.
Published in the Nation
Newspaper on Wednesday, 9th March, 2016
#Economy: GDP grew by 2.11% in 2015 Q4, says NBS
A survey report by the National Bureau of Statistics (NBS) on
the fourth quarter (Q4) of the Gross Domestic Product (GDP) has shown that it
grew by 2.11 percent in Q4 of 2015. According to Q4 2015 GDP report released by
the bureau yesterday, the 2.11 percent was lower by 0.73 percent from growth
recorded in the preceding quarter, and also lower by 3.83 percent from growth
recorded in the corresponding quarter of 2014. On quarter basis, the real GDP
increased by3.10 percent.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#Power: NBET, varsities to monitor power plants
A new era is set to unfold in efforts to promote local
capacities in the power sector, as the Nigerian Bulk Electricity Trading Plc
(NBET) yesterday announced a new resolve to use Nigerian Universities to
monitor the construction of power plants.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#Economy: Lagos opens special courts for tax evaders
The Lagos State go0verment yesterday reeled out new reforms
on tax collections in the state, with emphasis on special courts that will now
prosecute both tax evaders and defaulters.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#Energy#Oil: U.S. may raise shale production over rallying oil prices
A gathering storm may soon hit the economies of oil producing
countries, as the United States of America (U.S.) has given indication of
raising the production of its shale oil, sequel to the rising crude oil prices.
The Brent crude rose to $41.39 a barrel yesterday from a
barrel on Monday. With the threat from shale producers, the rallying oil prices
may therefore not be a complete cheer to the oil producing countries like
Nigeria, which had been hoping that the prices would rebound in order to
cushion their respective financial budgets.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#Awards: Ondo, Jumia, win
consumersng awards
Consumersng, an online platform advocating for a more
consumer-centric culture in Nigeria has announced Ondo state, GTBank, Jumia,
and 16 other corporate entities/governmental bodies as top 20 brands best
adoption digital technology in providing services to people.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#Energy: BoI takes renewable energy to off-grid community in Anambra
Succour may have come the way of about 200 homes located in
Onono-Anam, Anambra-west local council area, as the Bank of Industry (BoI)
connected off-grid power project to eradicate black-out in the community.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#NERC, CPC signs MoU to expand metering for electricity consumers
The Nigerian Electricity Regulatory Commission (NERC) and the
Consumer Protection Council (CPC) have sealed a Memorandum of Understanding
(MoU) to ensure that consumers get meters as prescribed in the service
agreement electricity distribution or Discos had with the Bureau of Public
Enterprises, BPE.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#SolidMinerals: 17-man panel to develop blueprint for mining
The Federal Government has inaugurated a 17-man committee to
develop a blueprint to guide the transformation of the solid mineral sector in
the country. It noted that given the dwindling fortunes of th nation as a
result of falling oil prices, the government has hinged the diversification of
the economy on the solid minerals and agricultural sectors.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#MoU#Agric: Arla seals pact on local dairy production
Arla foods, makers of Dano milk and Lupark butter, has sealed
a Memorandum of Understanding to commence local dairy production in the country
as well as improve capacity building on best agricultural practices.
Published by the
Guardian Newspaper on Wednesday, 9th March, 2016
#StakeholdersAction: oil workers shut NNPC operation
Oil workers yesterday shut down operations of the Nigerian
National Petroleum Corporation (NNPC) nationwide to protest against the
restructuring of the state oil firm.
Published in Daily Trust
Newspaper on Thursday 10th March 2016
#Partnership: FG to partner UN on school feeding programme
Vice President Yemi Osibanjo says the federal government will
partner with the World Food Programme, a United Nations agency in the
implementation of the school feeding programme. Osibanjo disclosed this at the State
House in Abuja yesterday while meeting with a delegation of the World Food
Programme led by its Executive Director Ertharin Cousin.
Published in Daily Trust
Newspaper on Thursday 10th March 2016
#Empowerment: Govt urged to empower women to turn economy around
A special forum that marked the International Women’s Dayfor
women in the Niger Delta which held Monday in Asaba, capital of Delta State,
has called on all levels of government and other relevant bodies to work
towards more empowerment of women in Nigeria in the interest of the country’s
economis development.
Published in Daily Trust
Newspaper on Thursday 10th March 2016
#Health: ‘Nigeria not free from Polio yet’
Nigeria cannot be said to be free from polio disease yet
despite not recording any new case in the past 18 months, Rotary international
President, Ravi Ravindran has said. Ravindran who performed a commemorative
Polio Immunization exercise on children at the Primary Health Centre, Garki
Area 2 in Abuja yesterday told Daily
Trust that Nigeria must complete the mandatory three years without new
infections before getting a clean bill of health.
Published in Daily Trust
Newspaper on Thursday 10th March 2016
#Economy: GDP growth rate dropped by 3.53% in 2015
Nigeria’s Gross Domestic Product (GDP) dropped by 3.53
percent at the end of the fourth quarter of last year from 6.22 percent
recorded at the end of the preceding year.
Published in Daily Trust
Newspaper on Thursday 10th March 2016
#Investment: Total investment in Nigeria worth $10bn- MD
The Managing Director of Total Nigeria, Nicholas Terraz, said
the company has invested sum of $10bn in Nigeria. Terraz who stated this
yesterday when he paid a courtesy call to the Rivers Governor, Nyesom Wike, in
Port Harcourt, said the company has enhanced development in its host
communities.
Published in Daily Trust
Newspaper on Thursday 10th March 2016
#Empowerment: FCT minister promises to empower rural women
The Minister of the Federal Capital Territory (FCT), Muhammed
Bello, has said his administration will empower rural women in the territory so
that they become self-reliant.
Published by the Daily
Trust Newspaper on Thursday, 10th March 2016
#Business: 27 firms raise NSE capitalisation by N45bn
The gains recorded by 27 stocks on the floor of the Nigerian
Stock Exchange on Wednesday boosted the NSE market capitalisation by N45bn. The
market capitalisation closed on Wednesday at N8.904tn, higher than N8.859tn
recorded after the close of trading on Tuesday.
Published by the Punch
Newspaper on Thursday, 10th March 2016
#Awards: NB wins NSE award
Nigerian Brewries Plc. has been named as the winner of
Nigeria Stock Exchange CEO’s Distinguished Award for compliance in 2015.
Published by the Punch
Newspaper on Thursday, 10th March 2016
#Power: Blackout- Electricity generation sinks to 1,580MW
The highly pronounced power failures across the country in
the past few days my worsen following a partial system collapse that occurred
on Tuesday, and the continuous drop in electricity generation due to what the
government says is the vandalism of pipelines that supply gas to the power
plants.
As a result, power generation dropped to 1,580.6 megawatts on
Wednesday.
Published by the Punch
Newspaper on Thursday, 10th March 2016
#Awards: Transcorp named 2015 Hilton Brand Awards winner
Transcorp Hilton Abuja has emerged as 2015 Hilton Hotels and
Resorts Brand Award winner. The hotel clinched the awards of 2015 Director of
Sales, 2015 Sales team of the Year and 2015 Best Tactical Marketing Campaign
for Middle East and Africa (MEA), awarded by Hilton Hotels and Resorts brand.
Published in Daily Trust
Newspaper on Thursday 10th March 2016
#ClimateChange: NIMET predicts less rainfall in 2016
The Nigerian Meteorological Agency (NIMET) has predicted that
most parts of the country will experience less than normal, delayed and early
cessation of rainfall than previous years across most parts of the country.
Published by ThisDay
Newspaper on Friday, 11th March 2016
#Infrastructure: Multi-billion dollar deal to boost telecoms
infrastructure
In a landmark achievement in the country’s mobile
telecommunications industry, two infrastructure providers and competitors, HIS
Holding Limited and Helios Towers Nigeria (HTN) Limited have agreed to merge
their operations and form one company.
Published by the
Guardian Newspaper on Friday, 11th March, 2016
#Investment: FBNQuest creates diversification portfolio for investors
As part of its efforts to address the need for credible
alternatives to invest in local and dollar denominated funds, the Asset
Management business of FBNQuest (a part of the FBN Holdings Group), has
launched two mutual funds – the FBN Nigeria Smart Beta Equity Fund and the FBN
Nigeria Eurobond (USD) Fund.
Published by the
Guardian Newspaper on Friday, 11th March, 2016
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