#IndustryPulse:
Union Bank to reduce cost-income ratio
Union Bank of Nigeria says it is currently leveraging
strategies that will help to reduce its cost-income ratio from 67 per cent to
60 per cent for the 2016 financial year. The bank assured stakeholders that it
would improve its business processes, branch network and channel optimisation
to sustain growth and enable the bank to become a leading mid-tier by 2018 and
on a trajectory to be top-tier by 2020.
Published
by the Punch Newspaper on Monday 21st April, 2016
#Economy:
Naira to remain flat against dollar on slow growth
The naira is expected not to rise or fall significantly at
the parallel and official foreign exchange market as the economy slows and
demand for foreign exchange eases after President Muhammadu Buhari’s delayed
signing of the 2016 budget.
Published
by the Punch Newspaper on Monday 21st April, 2016
#StakeholdersAction:
EY stresses need for increased transparency
The EY, a global professional services firm, has highlighted
the need for enhanced transparency at a time of increased geopolitical tensions
and heightened volatility in the financial markets in a bid to curb fraud,
bribery and corruption. The firm, in its 14th Global Fraud Survey 2016, said
increasing global cooperation in enforcement against corruption raised the
stakes for companies and executives.
Published
by the Punch Newspaper on Monday 21st April, 2016
#SMEs:
Fortis MFB provides N15bn credit to small businesses
A total sum of N15bn has so far been provided as micro credit
to small scale business operators within the last eight years by Fortis
Microfinance bank, the bank’s Chief Risk Officer, Mr Olufemi Augustine, has
said.
Published
by the Punch Newspaper on Monday 21st April, 2016
#IndustryPulse:
FCMB seeks economic growth
First City Monument Bank Limited says it will continue to
deepen its support for projects and initiatives designed to boost sustainable
economy growth and development. The Executive Director, Business Development,
FCMB, Mr Adam Nuru, was quoted to have stated this during inauguration of a
water factory belonging to Nestle Nigeria Plc in Abaji, Abuja.
Published
by the Punch Newspaper on Monday 21st April, 2016
#Oil: PH,
Warri refineries now producing petrol
The Minister of State for Petroleum Resources and Group
Managing Director, Nigerian National Petroleum Corporation, Dr Ibe Kachikwu,
has announced that the Port Harcourt Refining Company and the Warri Refining
and Petrochemical Company are now producing a combined volume of seven million
litres of petrol daily. According to him, the PHRC now produces five million
litres of Premium Motor Spirit, popularly known as petrol, while the WRPC
produces two million litres of the product daily.
Published
by the Punch Newspaper on Monday 21st April, 2016
#Power: TCN
restores power transmission after system collapse
The Transmission Company of Nigeria on Sunday said it had
restored full power transmission to the national grid after a system collapse
at 16.44pm on Saturday due to sudden generation loss.
Published
by the Punch Newspaper on Monday 21st April, 2016
#Industry:
Nigeria’ll be the highest exporter of cement by 2018
The President, Dangote Group, Alhaji Aliko Dangote, has said
that Nigeria will be the highest exporter of cement by the year 2018. Dangote
stated this while receiving The Guardian Man of the Year 2015 Award in Lagos.
Published
by the Punch Newspaper on Monday 21st April, 2016
#SDGs:
Surveyors seek government’s collaboration to achieve SDGs
Surveyors in the country have urged the Federal Government to
collaborate with them in order to successfully meet the country’s Sustainable
Development Goals as set by the United Nations. According to them, the SDGs aim
at considerably reducing poverty before 2030, but this can only be achieved
through proper partnerships among stakeholders and the government.
Published
by the Punch Newspaper on Monday 21st April, 2016
#Health:
World Malaria Day: 3.2bn at risk globally
The World Health Organization (WHO) has said about 3.2
billion people remain at risk of malaria attack globally. This information was
contained ina report entitled: “Eliminating Malaria”, released yesterday on
World Malaria Day, observed on April 25 every year.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#Health:
Aisha Buhari storms Cross River to campaign against infant mortality
In the last couple of years, Nigeria has experienced
worsening cases of child mortality. Perhaps, it is in light of this that the
wife of the President, Mrs Aisha Buhari launched “Project Future Assured”
across the states of the Federation. Mrs Buhari also launched Mediatrix
Development foundation; a project initiated by the wife of Cross River State
Governor, Dr Lynda Ayade, as well as inaugurated the 2016 Maternal New Born and
Child Health Week in the state.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#Education:
COP calls for restructuring of colleges of Education
Committee of Provosts (COP) of Colleges of Education has
called for an immediate restructuring of colleges of education across the
country to make them more relevant in the 21st Century teacher’s
education. This call was contained in a communique issued after its 76th
regular meeting held recently in Abuja at the National Commission for Colleges
of Education (NCCE). The communique which was signed by the chairman,
Communique Drafting, Prof. Emmanuel Ojeme, was made available to newsmen.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#Agriculture:
FG disburses N4.9bn loans to farmers
The Federal government has disbursed a total of N4.9 billion
as loans to farmers across the country as 570,000 direct jobs have been
created, the Central Bank Governor, Mr Godwin Emefiele, has said.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#Oil:
NUPENG cautions NNPC on reducing workers’ contract period
Workers in the Oil and Gas sector have cautioned the plan by
the Nigerian National Petroleum Corporation (NNPC) to cut contracting cycle to
six months will lead to major industrial relations crisis in the industry.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#Empowerment#CSR:
Honeywell committed to skill development, says CEO
For Honeywell Flour Mills Plc, training and impartation of
knowledge to bakers to make their business more result oriented will continue
to be a priority, according to the Managing Director, Mr Lanre Jaiyeola.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#Oil:
Nigeria’s June crude export falls to 1.57m bpd
Nigeria’s poor crude oil production continued its decline
until latest loading compilation showing a drastic decline for June exports,
the export, on 52 cargoes, totalled 1.57milliom barrels per day (bpd), compared
with a revised May programme of 1.6 million bpd aboard 55 cargoes.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#CSR:
Heritage Bank introduces customer reward programme
In line with its commitment to deliver exceptional support to
its customers, Heritage Bank has instituted two customer reward programmes.
Christened ‘MyHeritageReward’ and HB Concourse, the two programmes, which were
flagged off at the Bank’s head office in Lagos are meant to encourage and show
gratitude to its teeming customers.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#IndustryPulse:
Q1:Banks earnings drop to N452.6 billion
All appears not to be well with the Nigerian Banks in the
First quarter as their total gross earnings fall to N452.602 billion from
N461.132 billion recorded same period last year. The six banks that pooled the
figure this year in their unaudited results submitted to the Nigerian Stock Exchange
are UBA, Union Bank and GT Bank. The rest are Ecobank, Zenith Bank and Access
Bank.
Published
by the Sun Newspaper on Tuesday, 26th April, 2016
#Event#Empowerment:
Turkish Nile University plans entrepreneurship trade fair
The Turkish Nile University has concluded plans to hold an
entrepreneurship trade fair aimed at linking the business world with business
theories in the academia. The trade fair slated for the university campus has
the theme: ‘Closing the gap between gown and town through entrepreneurship
trade fair’.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Agriculture:
FG boosts rice production with Kebbi farm stretchers
The Federal Government has concluded plans to hand-in 50 farm
stretchers to boost rice production in Kebbi State. The Minister of Agriculture
and Rural Development, Chief Audu Ogbeh, disclosed this yesterday when the
Deputy Governor of Kebbi State, retired Col. Samaila Yombe Dabhi, paid him a
courtesy visit in his office in Abuja.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Power: Electricity
grid loses 1,585mw again
The national electricity grid yesterday dropped to 2,116
megawatts (MW) from the 3,701 MW obtained on Monday daily power report from the
Nigeria System Operators (NSO) show.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Oil:
Kaduna refineries pumps 2m litres of PMS daily
Kaduna Refining and Petrochemical Company (KRPC) will
commence pumping of 2 million litres of Premium Motor Spirit to the system
after long period of inactivity. The Managing Director of KRPC, Idi Mukhtar,
said this while receiving leadership of the state chapter of the Nigerian Union
of Journalists in Kaduna yesterday.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Oil: Low
oil prices pushes BP to $485m loss
BP has sunk to a $485m (£334m) loss for the three months to
March as low oil prices took their toll. The loss, on the replacement cost
measure, compared with a $2.1bn profit for the same period last year, but was
lower than the $2.2bn loss for the three months to December.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Event:
Sterling Bank flags off made-in-Nigeria
week
Sterling Bank is championing the use of locally manufactured
goods and services by initiating the Made-in-Nigeria week. The Bank’s Executive
Director, Finance &Strategy, Mr Abubakar Suleiman said the week which begun
from Monday April 25-29, 2016 is an opportunity for the bank to promote a sense
of pride and confidence in Nigerian grown brands.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#CSR:
Fortis becomes client protection entity
Fortis Microfinance Bank Plc has been recognised has client
protection certified organization in Nigeria by Smart Campaign- a global
initiative to incorporate strong client-protection practices into the
microfinance industry.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Agriculture:
W/Bank, Kano construct farmer access road to boost agriculture business
World Bank and Kano State under the Commercial Agriculture
Development Projects as embarked on the construction of three farm access roads
in some farming communities situated at Madobi Local Government Area of the
state as part of the project’s attempt to ease farmers’ travail during transportation
of farm produce from the farm to the market and also to boost agricultural
activities.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Industry#Agric:
Niigeria ripe for agric development
The Lagos Chamber of Commerce and Industry (LCCI) has
described the crash in the international price of crude oil as a new dawn that
will pave way for agricultural development in Nigeria.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Agriculture:
Beware of Mosaic virus, tuber farmers warned
The West African Virus Epidemiology (WAVE) has stressed the
need for tuber farmers to wary of Mosaic virus which attack crops especially
cassava. The virus, which is spread by whitefly, destroys tuber crops and
ultimately lead to poor yield or total loss to the farmer.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Education:
Commonwealth Club takes off in schools
Voyage International School, Abuja has joined 249 schools
across the country to form the Commonwealth Club and other societies as
directed by the federal Ministry of Education. This is aimed at promoting
learning and social gathering.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#CSR:
School spends N11.5m on community roads, bridge
Premiere Academy, a private school in Abuja, has constructed
roads and a bridge worth N11.5 million to keep Lugbe communities connected.
Speaking in an interview in Abuja, the principal of the school, Graham Meredith,
said the school had committedN15.5 million to community development projects as
part of her corporate social responsibility, out of which roads and a bridge
were built in Lugbe. The bridge project alone gulped N9.5m, he added.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#CSR: Shoprite
hosts Free Breast Cancer screening
As part of the brand’s Corporate Social Responsibility (CSR)
programme, the Shoprite Community Network hosted a two-day free breast cancer
screening for women in Onitsha, in conjunction with the Run For A Cure Africa
(RFCA), a non-governmental organization specializing in breast cancer awareness
work.
Published
by the Daily Trust Newspaper on Wednesday, 27th April 2016
#Economy:
Lagos ports idle as imports tumble
Activities at the Lagos ports have gradually come to a
grinding halt as the foreign exchange restrictions announced last year by the
Federal Government takes a heavy toll on the nation’s economy. This situation
has left many who depend on Africa’s hitherto busiest port for living to idle
away.
Published
by the Punch Newspaper on Thursday, 28th April, 2016
#Oil: NNPC
restructuring ongoing, says Kachikwu
The restructuring at the Nigerian National Petroleum
Corporation has not ended but is ongoing, the Minister of State for Petroleum
Resources and Group Managing Director of the oil firm, Dr Ibe Kachikwu, has
said. According to Kachikwu, the restructuring is not only at the national oil
firm, but will also affect other agencies and parastatals under his
supervision.
Published
by the Punch Newspaper on Thursday, 28th April, 2016
#Economy:
Buhari seeks World Bank’s help to revive economy
The Managing Director and Chief Operating Officerof the World
Bank, Sri Mulyani Indrawati, held talks with President Muhammadu Buhari in
Abuja on Wednesday on how the bank could help Nigeria overcome an economic crisis
caused mainly by a sharp fall in crude prices that has eaten deep into its oil
revenues. The Federal Government is planning to borrow N1.8tn from abroad and
at home to help fund the over N6tn budget for this year, which has been delayed
by several months due to wrangling between the Presidency and the National
Assembly.
Published
by the Punch Newspaper on Thursday, 28th April, 2016
#Oil: Oil
price hits 2016 high at $47
Global benchmark, Brent crude, on Wednesday traded around $47
per barrel, its highest level this year, buoyed up by news of falling output
and a weakening United States dollar.
Published
by the Punch Newspaper on Thursday, 28th April, 2016
#Industry:
BoI pledges more funding for industrialists
The Bank of Industry on Wednesday said it would provide more
funds for industrialists as part of efforts aimed at diversifying the economy.
The Acting Managing Director, BoI, Mr Waheed Olagunju, stated this at the
China-Africa Trade, Investment Summit held in Abuja.
Published
by the Punch Newspaper on Thursday, 28th April, 2016
#Economy:
FG seeks to improve tourists arrivals, revenue with relaxed visa rules
The Federal Government is moving to overhaul the country’s
visa policies and other protocols in an effort to boost tourist numbers and
increase revenue from the subsector which sees less than five million tourists
annually.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Agriculture:
States’ insolvency threatens GES agric scheme
Nigeria’s cash strapped states can hardly sustain the Growth
Enhancement Support (GES) initiative as their monthly allocations continue to
nosedive on the back of dwindling oil revenues. GES involves cost sharing of
major agricultural inputs, such as fertiliser and seeds between the Federal
Government, state government, and the nation’s farmers.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Power:
Fashola restates commitment to complete 47 new power projects
Babatunde Fashola, minister of power, works and housing, has
restated his commitment to completing 47 transmission projects across the
country, thereby boosting electricity supply. Fashola, who fielded questions as
guest on the popular channels Sunrise Daily Programme, said the plan to
complete 47 transmission projects could be achieved, even though the passage of
the budget had been delayed.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#IndustryPulse:
Access Bank’s profit growth strongest among peer rivals
Access Bank Plc, tne Nigerian lender with offices in eight
other countries, recorded the strongest profit growth among peer rivals amid
weak naira and a drop in oil prices.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Oil:
Integrated Oil and Gas says nodular refinery project on course
Integrated Oil and Gas Limited has said that its 20,000 bdp
modular refinery is on course. The modular refinery which is located at Tomaro
Island off the coast of Apapa port zone is expected to come on stream next
year.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Economy:
Telecommunications 8% GDP contribution reinforces calls diversification of
Nigeria’s economy
The contribution of the non-oil sectors of the economy to
Nigeria’s GDP growth in 2015 strengthens the case for the diversification of
the economy away from oil as data released by the Nigerian Bureau Statistics
(NBS) shows that the telecommunications sector contributed 8.88% to GDP in the last quarter of 2015.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#IndustryPulse#ICT:
Financial sector needs innovative ICT- Huawei
Innovative Information and Communication Technology has
become critical to digital transformation in the financial sector, Huawei, a
global information and communications technology solutions provider, has said.
The company noted in a report that the financial services industry was facing
enormous challenges as the new digital world redefines customer expectation.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#ICT:
Shongai Technologies receives ISO 9001:2008 certification, pledges to improve
on quality
Shongai Technologies Limited, the Nigeria’s leading printing
and packaging solutions provider has announced being awarded NIS ISO 9001:2008
certifications from the Standards Organisation of Nigeria (SON) for quality
system management and business processes.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Awards:
Coker, CFA, Obadare, others honoured at the Beacon of ICT Awards 2016
Nigeria’s Communications Week recently organized this year’s
Beacon of Information & Communications (BoICT) awards 2016, an annual event
which held at Eko Hotel & Suites, Victoria Island, Lagos.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Health:
Nigeria’s healthcare challenges present investment opportunities- Ajayi
Richardson Ajayi, managing director of The Bridge Clinic, has
called on stakeholders in the international healthcare industry to look at the
health issues in Nigeria and other developing countries as opportunities for
investment. Ajayi, who made the call in his presentation at the 2016 Healthcare
Business International Conference, haeld at the Royal College of Physicians,
Regent’s Park, London on 27 April, 2016, said that a private sector-driven
service delivery holds the future in the Nigerian Healthcare sector.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Health:
WHO to declare Nigeria polio free in 15 months’ time
Global Health body, the World Health Organization (WHO) says,
it would declare Nigeria Polio free in about 15 months time, but quickly called
on the Federal Government to ensure that efforts be made to sustain the
relevant immunization programmes across the states of the country.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#World
Malaria Day: JCI Trans Amadi, SFH, PHI mount deworming, malaria campaigns in
Rivers communities
As part of efforts to battle the malaria scourge in Nigeria,
members of the Junior Chamber International (JCI) Trans Amadi Port Harcourt, at
the weekend, in marking the World Malaria Day, with theme: “End Malaria for
Good”, carried out a malaria and deworming campaign in parts of the state
capital.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Event#Economy:
2016 African SMEs roundtable seeks non-oil economy
All is now set for the 2016 African Smal and Medium
Enterprises, SMEs Roundtable, which is scheduled to hold in Calabar, Cross
River State from May 31 to June 2, with focus on developing non-oil economies
for African countries. The three-day conference with the theme: “the Position
of the African SMEs Within the Global Economy,” is expected to bring together
SMEs institutions and experts to seek ways of increasing the capacity of
African SMEs.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
#Economy:
CBN records N123.07bn net income in 2015 financial year
Central Bank of Nigeria (CBN) has released its consolidated
and separate income statements for the year ended December 31, 2015, posting
N123.07 billion net incomes for the Group, which is 266.3 percent compared with
N33.6 billion in the previous year.
Published
by the Business Day Newspaper on Friday, 29th April, 2016
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