Business

Snap shot pictures of poverty in Nigeria aren’t accurate. Here’s the real deal

Ajegunle City, Lagos State Nigeria in 2018: Busy streets bustling with commercial activity. Shutterstock Zuhumnan Dapel, Scottish Institute for Research in Economics Studies that reflect the movement of poverty levels at a particular point-in-time attract a lot of attention. They also inform academic and policy debates across the globe. In Africa, where poverty levels remain high, these snapshots of poverty ...

Read More »

TraderMoni: FG Begins Disbursement Of N10,000 Loan To Bayelsa Traders

The Federal Government has begun the disbursement of N10, 000 micro-credit each to traders in Bayelsa State. The scheme, tagged, ‘TraderMoni’ is operated by the Federal Government through the Bank of Industry in collaboration with the GDM Group and Enyowo, a mobile money operator. Many traders thronged the Tombia market venue in Yenagoa, the state capital, for the commencement of ...

Read More »

BREAKING: CBN Revokes Nine Micro-Finance Banks’ Licences

The National Association of Micro Finance Banks on Monday said that nine out of the 34 micro finance banks in Niger State have lost their operational banking licences. North Central Secretary of the association, Mr. Sado Daniel, made the remark in Bida while inaugurating a micro-finance bank established by the Federal Polytechnic, Bida. “These micro-finance banks lost their licences because they ...

Read More »

Africa’s Richest Woman, Isabel dos Santos, Speaks On How To Steam Forward Despite Challenges

Many people around the world are familiar with Aliko Dangote, a Nigerian who is often described as Africa’s richest man. But Isabel dos Santos, 45, an Angolan businesswoman, is Africa’s richest woman and the eldest child of Angola’s former President José Eduardo dos Santos, who was in power from 1979 to 2017. In 2013, according to research by Forbes, her ...

Read More »

945MW To Be Added To Grid Before Year End, Fashola Assures

The Minister of Power, Works and Housing, Mr Babatunde Fashola, on Thursday said that additional 945 megawatts of electricity would be added to the national grid before the end of the year. Fashola said this at the Nigeria-South Africa Chamber of Commerce breakfast business meeting in Lagos themed: “Power Sector and the Way Forward’’. He said that additional power would ...

Read More »

‘Dangote Refinery Project To Boost Activities In Downstream’

The President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Paul Ruwase, has described as magnificent and spectacular the impact the Dangote Oil Refinery project would have on the Nigeria’s downstream petroleum sector. Ruwase, who led members of the chamber on a tour of Dangote Jetty, Refinery and Fertilizer plants recently in Lagos, expressed excitement over the pace of ...

Read More »

How Rules Of The Game Are Changing In Africa’s Banking Sector

By Sunil Kaushal An abundance of opportunities We are fortunate to witness a period of monumental progress in Africa. The changes are visible across all sectors. African start-ups have raised a record breaking $560 million in 2017, an increase of 53% from the previous year. African governments have welcomed technology into the continent, hoping to inspire a revolution across all ...

Read More »

Why a new national carrier for Nigeria is never likely to get off the ground

Nigeria has abandoned the idea of a national airline. Shutterstock Stephen Onyeiwu, Allegheny College One of the most vexatious ironies about Nigeria – perhaps even an embarrassment – is the lack of a national airline. Nigerians are often very piqued to be travelling on airlines owned by smaller less resource-endowed African countries. Ethiopia, Kenya and Rwanda and South Africa national ...

Read More »

Content Board Lauds Dangote Refinery On Local Content

Nigerian Content Development and Monitoring Board (NCDMB) has praised the management of Dangote Petroleum Refinery and Petrochemical Free Trade Zone Enterprises (DPRP) over its adherence to the local content law in the execution of its projects and declared its intention to further partner with it for effective implementation of the Local Content policy in the country. Director, Monitoring & Evaluation, NCDMB, Mr. Akintunde Adelana, ...

Read More »

Dana Air loses N100m, Threatens To Downsize

Dana Air on Thursday said it had lost over N100 million to the ongoing dispute between aviation unions and Bi-Courtney Aviation Services Limited (BASL). The airliner said that the dispute had led to the shutting down of the Murtala Muhammed Airport 2 where it was operating from. Dana Air’s Communication Manager, Mr Kingsley Ezenwa, said the airline might also be ...

Read More »