#Economy: Act of
2004 opens way for CBN to unfreeze FX markets
Nigerian businesses and manufacturers may soon get some
relief as the Central bank of Nigeria (CBN) moves to reform and restore
liquidity and two-way quotes to the autonomous foreign exchange (FX) markets
which have been gummed up for more than a year.
Published by the
Business Day on Monday 11th April 2016
#Power: Geometric Power deal set to re-position Aba as ‘Japan of Africa’
Business watchers say Aba, the capital and manufacturing hub
of Abia state, will likely see a scramble for land on the back of an expected
influx of small, medium and large industries looking for cheaper and constant
power supply, following the resolution of the long-drawn dispute between
Geometric/Aba Power Limited and Interstate Electrics.
Published by the
Business Day on Monday 11th April 2016
#Investment: Nigeria
considers Chinese bonds for 2016 budget funding
The Federal Government has expressed her determination to
productive borrowing and committed to safeguarding the N1.8 trillion which the
government planned to borrow to invest in priority areas that would uplift the
lives of the citizens, says Kemi Adeosun, Minister of Finance.
Published by the
Business Day on Monday 11th April 2016
#Economy: Nigeria risks $500m holdings as MSCI exit looms
The decision by MSCI incorporated to consider dropping
Nigeria from its Frontier Market Index has put $500 million of stock investment
in Africa’s biggest economy under threat, according to Renaissance Capital
Limited. The development comes amid a crumbling economy, which is struggling to
survive forex, energy and most recently inflation challenges.
Published by the
Business Day on Monday 11th April 2016
#IndustryPulse: Bank staff cost per head up despite layoffs
Nigerian Banks recorded higher costs per employee in 2015
despite a reduced workforce from layoffs in the sector. Data from the eight
banks which have released Full Year (FY) 2015 audited reports shows that
average staff cost per head increased by 4.3% to 6.9 million, from N6.61
million in 2014.
Published by the
Business Day on Monday 11th April 2016
#Economy: Lack of
infrastructure, government control, bane of Nigerian economy
Lack of infrastructure, government control and collapse in
the educational system has been identified as the cankerworm that has eaten
deep into the Nigerian economy. These were the unanimous views of speakers and
panellists at the Nigerian Economic and social risk summit and award
presentation organized by Nigerian Risks award in Lagos.
Published by the
Business Day on Monday 11th April 2016
#Innovation: New strategy will increase intra-African trade to $250
billion by 2021- Afreximbank
A new strategy aimed at driving trade and industrialisation
across Africa by at least 50 per cent in the next five years has been announced
by the African Export-Import Bank (Afreximbank). The Afreximbank Intra Africa
Trade Strategy, approved by the Board of Directors at its quarterly meeting in
Johannesburg on Saturday, will see the bank work with partners to ramp up trade
among African countries to $250 billion from its current level of about $170
billion by 2021.
Published by the
Business Day on Monday 11th April 2016
#Economy: Bellaafricana.com relaunches, focuses on Afrocentric products
As part of its quest to bridge the gap between artisans,
manufacturers of Afrocentric products and their consumers, Bellafricana, a
company that promotes the beauty of Africa have relaunched the online platform
showcasing unique businesses of products and services made in Nigeria.
Published by the
Business Day on Monday 11th April 2016
#Investment: World Bank to increase global climate investment, adopts a
new action plan
The World Bank Group has announced plans to increase its
climate investment through the International Finance Corporation (IFC) from the
current US$2.2 billion a year to a goal of US$3.5 billion a year, this will lead
on leveraging an additional US$13 billion a year in private sector financing by
2020.
Published by the
Business Day on Monday 11th April 2016
#Agric: $30m pledged for Oyo Agric Initiative
The new agriculture initiative of the Governor of Oyo state,
Senator Abiola Ajimobi, aimed at rejuvenating the economy of the state has
received a major boost following the pledge of initial investment of $30
million by an agriculture entrepreneur.
Published by the
Business Day on Monday 11th April 2016
#Economy: Cuban Embassy partners Abuja Chamber to increase $2m trade
volume with Nigeria
Carlos Trejo Sosa, the Cuban Ambassador to Nigeriahas called
on the President of Abuja Chamber of Commerce and Industry (ACCI) Tony
Ejinkeonye to assist hios country in increasing their trade volume with
Nigeria, which currently stands at $2 million.
Published by the
Business Day on Monday 11th April 2016
#Economy: World Bank seeks Nigeria’s ratification of TFA
The World Bank has advised the Nigerian government to ratify
the Trade Facilitation Agreement (TFA) put together by 162 member- nations of
World Trade Organisation (WTO) as part of measures to enhance its proposed
economic diversification agenda.
Published by the
Guardian Newspaper on Tuesday, 12th April 2016
#Health: Senate decries absence of comprehensive data on cancer
The Senate Committee on Health, yesterday, decried the
absence of national data to determine the number of people affected by cancer
for effective treatment, stressing that the global information available show
that cancer disease is rapidly on the increase in Nigeria. The committee also
stated that Nigeria has recorded more than two million cases of cancer yearly,
stating that between 100,000 and 500,000 cases were being registered every
year.
Published by the
Guardian Newspaper on Tuesday, 12th April 2016
#Economy: Nigeria to lead sub-Sahara’s economic rebound, says World Bank
The World Bank Group yesterday lowered its 2016 sub-Saharan
African growth forecast to 3.3 per cent from a previous forecast of 4.4 per cent
in October, citing plunging global commodity prices.
Published by the
Guardian Newspaper on Tuesday, 12th April 2016
#Investment: Dangote invests $20b in pipeline infrastructure, fertilizer,
petrochemicals
Dangote Group is investing about $20 billion into gas
pipeline infrastructure, power generation, petrochemical, fertilizer, sugar
refinery and petroleum refinery in the country. The Executive Director, Dangote
Group, Devakumar Edwin, in a chat with The
Guardian, disclosed that Dangote’s fertilizer plant which will be
operational next year and the petrochemical plant and refinery, is expected to
meet local consumption of petroleum and chemical products in the country.
Published by the
Guardian Newspaper on Tuesday, 12th April 2016
#Empowerment: Lagos woos fresh graduates to entrepreneurship, N25b soft
loan scheme
Lagos State Government has charged fresh graduates in the state
on the imperatives of looking inwards for self-employment, coupled with the
benefits of getting soft loans from the State Government. State Deputy
Governor, Idiat Adebule, at the 24th convocation ceremony of the Lagos
state Polytechnic, Ikorodu, held at the weekend, said that the charge was in
line with current economic realities “which require innovations and entrepreneurial
skills that would make people contribute to the growth of the economy rather
than relying on paid employment that may never come.
Published by the
Guardian Newspaper on Tuesday, 12th April 2016
##Empowerment: SIIFZ revamps training programme, creates 6,000 jobs
The development and expansion at Snake Island Integrated Free
Zone (SIIFZ) has generated not less than 6,000 direct jobs, Chairman, Anwar
Jarmakani has said. According to Jarmakani, the direct jobs also support over
100,000 families through indirect job opportunities.
Published by the
Guardian Newspaper on Tuesday, 12th April 2016
#Economy: Buhari seeks reduction in Nigeria, China trade imbalance
President Muhammadu Buhari yesterday in Beijing urged the
Nigerian and Chinese business communities to work harder to reduce the trade
imbalance between both countries which is currently in China’s favour.
Published by the Nation
Newspaper on Wednesday, 13th April 2016
#Power: DISCOs, Egbin power plant sign agreement to supply 220mw
The Nigerian Electricity Regulation Commission (NERC) has
informed the Federal Government of the activation of the agreement between
Paras Energy and Eko DISCOs to provide 40 megawatts to Lagos as well as the
agreement between Ikeja and Eko DISCOs with Egbin power plant for dedicated
supply totalling 220 megawatts.
Published by the Nation
Newspaper on Wednesday, 13th April 2016
#IndustryPulse: CBN to refund N2tr CRR to banks
The Central Bank of Nigeria (CBN) is working out modalities
for disbursing the about N2 trillion refund expected from the five percent cut
in Cash Reserve Ratio (CRR) to banks.
Published by the Nation
Newspaper on Wednesday, 13th April 2016
#IndustryPulse#Technology: Ecobank to drive efficiency, financial
inclusion with technology
Ecobank Nigeria will adopt the best technology to push its
market penetration to become one of the top three banks in the country in three
years, its Managing Director, Charles Kie has said.
Published by the Nation
Newspaper on Wednesday, 13th April 2016
#CSR#SMEs: MasterCard inaugurates startups agenda for Africa and Middle
East
This year’s MasterCard Start Path Global Programme has been
launched across the globe. The product Start Path has been successful across
the Middle East Region (MEA). It is intensifying its search as a reminder of
the innovation of startups.
Published by the Nation
Newspaper on Wednesday, 13th April 2016
#Agric: Firm revamps Oyo community’s cassava processing cottage
In continuation of its policy of investing in communities to
positively impact the lives of smallholder farmers across Nigeria, British American
Tobacco Nigeria Foundation (BATNF) has rehabilitated the Cassava Processing Cottage
at Ago-Are, in Atisbo Local Government Area of Oyo State. The facility was
originally inaugurated and handed over
to the community in December 2004.
Published by the Nation
Newspaper on Wednesday, 13th April 2016
#SMEs: GTBank strengthens support for women entrepreneurs
Guaranty trust Bank (GTBank) in partnership with ‘She Leads
Africa’ (SLA) Accelerator’ has set aside N6 million as grand prize to support
business of three potential winners of this year’s ‘African Women
Entrepreneurship talent Hunt.’ Each of the winners will get N2 million.
Published by the Punch
Newspaper on Friday April 15, 2016
#Investment: Fashola, Ugwuanyi seek inclusive economic growth
The Minister of Power, Works and Housing, Mr Babatunde
Fashola, and Governor Ifeanyi Ugwuanyi of Enugu State have called for inclusive
economic growth as the federal and state governments step up efforts to attract
foreign investors into the country.
Published by the Punch
Newspaper on Friday April 15, 2016
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