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  Date: 2015-05-26

Business

Ericsson, EY study maps of successful mobile operators

Ericsson and Ernst & Young have collaborated to identify three distinct strategies adopted by successful mobile operators, dubbed Frontrunners. Successful operators share a common focus on network performance and customer experience; differentiation, innovation and technology approaches vary by strategy. Frontrunner revenues grew at 9.6 per cent CAGR, their competitors at 2.7 percent, while average in... [Read...
Buzz: 1
Source: The Punch Business | 0 Comments

Nigeria to pay over N1.8bn severance package to exiting Federal law makers

Nigeria is to pay over N1.85 billion in severance packages to the non-returning members of the seventh session of the National Assembly, BusinessDay investigations have shown. The money is statutorily approved by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). Following the outcome of the April 11 2015 general elections, 233 members of the House...
Buzz: 826
Source: Business Day | 0 Comments

Telcos demand greater board representation on universal service fund

Telecommunications companies in Nigeria are demanding greater representation on the board of the Universal Service Provision Fund (USPF), amidst insinuations of  huge financial mismanagement  limiting its effectiveness. The mandate of the USPF as stipulated in the Nigerian Communications Act 2003 is to “promote the widespread availability and usage of network and applications services throughout Nigeria...
Buzz: 826
Source: Business Day | 0 Comments

BoI to disburse N310bn to MSMEs in 5 years

The Bank of Industry (BoI), Nigeria’s most active development finance institution, will make N310 billion available for micro, small and medium enterprises (MSME) between 2015 and 2019. Waheed Olagunju, executive director, SMEs, disclosed this during an interactive session between business editors, industry journalists and the management of the bank. According to Olagunju, the bank targets...
Buzz: 823
Source: Business Day | 0 Comments

Buhari: When managing expectations is an anticipatory breach

This week, on Friday May 29, General Muhammadu Buhari will be sworn in as president of Nigeria. He is the sixth democratically elected leader of Nigeria since Tafawa Balewa became prime minister in 1960, the second former military head of state to become a civilian president, the first challenger to unseat an incumbent president, and,...
Buzz: 822
Source: Business Day | 0 Comments

WSTC Financial Services gives contrarian perspective to CBN’s new CRR

Contrary to widely belief that the Central Bank of Nigeria’s (CBN) decision to harmonise the CRR of both public and private sector deposits was tactical monetary easing, a further careful analysis of the impact of the policy will result in a net aggregate debit, or monetary tightening, which would weaken banks earnings, analysts at WSTC...
Buzz: 822
Source: Business Day | 0 Comments

Persistent oil sector contraction exposes years of mismanagement

Nigeria, Africa’s biggest economy and oil producer has experienced yet another contraction in its oil and gas sector, the sixth in the last eight quarters, on account of significant underfunding and mishandling by government and the resulting uncertainty from policy flip-flops, according to BusinessDay investigations. The sector has witnessed unprecedented delays in contract approvals and...
Buzz: 821
Source: Business Day | 0 Comments

Deconstructing Diezani, Nigeria’s outgoing petroleum minister

For all the controversies she hugged, Diezani Allison-Madueke remained untouchable as Nigeria’s minister of petroleum resources, a position she held since 2010 after Goodluck Jonathan was confirmed acting president. On the eve of her departure, this is an auspicious time to take a look at the profile of the woman who has held sway at...
Buzz: 821
Source: Business Day | 0 Comments

Prestige Assurance strategises to deepen presence in domestic market

Underwriting firm, Prestige Assurance plc, is redefining its operational strategies that would not only enable it deepen presence in the domestic market, but control a larger share of the nation’s insurance businesses. The company, which draws its origin from the New India Assurance Company Limited, a global brand in risk management having existed in the...
Buzz: 821
Source: Business Day | 0 Comments

Foreign Investors still foot-dragging on Nigeria despite electoral success

There are indications that foreign investors may be considering ‘holding-action’ on Nigerian economy contrary to wide-spread expectations and speculations that the huge success in the country’s recent general election was going to spur foreign investment inflow spontaneously. The post Foreign Investors still foot-dragging on Nigeria despite electoral success appeared first on Vanguard News....
Buzz: 121
Source: Vanguard Business | 0 Comments

Activation: A new approach to brand building

Experiential Marketing (Brand Activation) is becoming the fastest growing segment of the Integrated Marketing Communications, IMC sub-sector. Activation Agencies search for new ways to amplify every marketing campaign to reach pre-destined consumer attraction. Princewill Ekwujuru examines activities of Experiential Agencies and challenges in brand Activation. The post Activation: A new approach to brand building appeared first on Vanguard News....
Buzz: 117
Source: Vanguard Business | 0 Comments

Stakeholders list steps to ending lingering fuel scarcity

Against the backdrop of the lingering fuel scarcity that has plagued the country in the last one month, stakeholders have been expressing concerns that the crisis may not go away any time soon, while also suggesting way out of the lingering fuel scarcity. This follows the return of queues on the streets due to oil...
Buzz: 83
Source: National Mirror Business | 0 Comments

Dangote’s $480m Ethiopian cement factory for inauguration June 5

Dangote Cement Plc says it will inaugurate its 2.5 million tonnes per annum cement plant in Ethiopia on Thursday as the company inches towards the mark of 40 mtpa global production capacity before the end of 2015. Located in Mugher District, the cement plant is said to be the single largest investment by an African... [Read...
Buzz: 59
Source: The Punch Business | 0 Comments

Shiroro power plant suffers system collapse

The already bad state of electricity supply across the country was made worse on Sunday following of a system collapse at the Shiroro Hydro-electric Power Plant in Niger State. The Shiroro plant has a power generating capacity of 600 megawatts and began operation in 1990. Our correspondent gathered that the system collapse at the plant […] Shiroro power plant suffers system collapse...
Buzz: 50
Source: Daily Post Business | 0 Comments

Dangote’s $480m Ethiopian cement factory for inauguration June 5

Dangote Cement Plc says it will inaugurate its 2.5 million tonnes per annum cement plant in Ethiopia on Thursday as the company inches towards the mark of 40 mtpa global production capacity before the end of 2015. Located in Mugher District, the cement plant is said to be the single largest investment by an African […] Dangote’s $480m Ethiopian cement factory for inauguration June 5...
Buzz: 30
Source: Daily Post Business | 0 Comments

Infrastructure Bank, METSL to construct Lagos metro rail

The Marina Express Train Service Limited is to collaborate with the Infrastructure Bank to construct the proposed Lagos Metro Rail Transit otherwise called the Red Line project. The Minister of Transport, Senator Idris Umar, said this in Abuja at the ceding and handover of the Right of Way for the Iddo-Agbado corridor for the proposed […] Infrastructure Bank, METSL to construct Lagos metro rail...
Buzz: 26
Source: Daily Post Business | 0 Comments

MasterCard advises ICAN on technology, ethics

The Divisional President, sub-Sahara Africa, MasterCard Worldwide, Mr. Daniel Monehin, has urged the Institute of Chartered Accountants of Nigeria to leverage technology to boost accounting practice in Nigeria. He also called on all professional accountants to raise the bar of ethical standard the institute promotes, saying “ICAN is an unmistakable contributor to the development of […] MasterCard advises ICAN on technology, ethics...
Buzz: 26
Source: Daily Post Business | 0 Comments

Iran plans economic partnership with Nigeria

The Islamic Republic of Iran is planning to develop economic and trade relations with Nigeria, the Iranian Ambassador to Nigeria, Mr. Saeed Koozechi, has said. He said the decision followed Iran’s new policy towards economic cooperation and trade development with the world, with priority to Africa, especially West Africa. Koozechi stated these at a news […] Iran plans economic partnership with Nigeria...
Buzz: 26
Source: Daily Post Business | 0 Comments

Infrastructure Bank, METSL to construct Lagos metro rail

The Marina Express Train Service Limited is to collaborate with the Infrastructure Bank to construct the proposed Lagos Metro Rail Transit otherwise called the Red Line project. The Minister of Transport, Senator Idris Umar, said this in Abuja at the ceding and handover of the Right of Way for the Iddo-Agbado corridor for the proposed... [Read...
Buzz: 25
Source: The Punch Business | 0 Comments

NNPC denies owing Lutin N95bn

The Nigerian National Petroleum Corporation on Sunday denied owing Lutin Investment Limited the sum of N95bn, insisting that all contentious issues between the two firms had been laid to rest. With regard to the award of N95bn compensation by a French court against the NNPC in favour of Lutin Investment in a long standing dispute, […] NNPC denies owing Lutin N95bn...
Buzz: 24
Source: Daily Post Business | 0 Comments

New CRR structure’ll further weaken bank earnings — WSTC

The harmonization of the Cash Reserve Requirements on public and private sector deposits by the Central Bank of Nigeria will further weaken earnings in the banking industry, WSTC Financial Services Limited has said. The Monetary Policy Committee of the CBN had on Tuesday harmonized the CRR on public and private sector deposits at 31 per […] New CRR structure’ll further weaken bank earnings — WSTC...
Buzz: 22
Source: Daily Post Business | 0 Comments

Stanbic IBTC Bank, Spanish institution sign finance deal

Stanbic IBTC Bank and a leading business school in Spain, IE Business School, have signed a direct financing agreement to help people acquire relevant skills in entrepreneurship. A statement by the bank on Wednesday said the parties signed the MoU in Lagos to commence the partnership in which the lender would provide loan facilities for […] Stanbic IBTC Bank, Spanish institution sign finance deal...
Buzz: 21
Source: Daily Post Business | 0 Comments

Fuel scarcity bites harder, a litre now N400

This is no easy time for Nigerians following the endemic fuel shortages that have crippled the nation because of a long-running row over controversial subsidy payments between the government and oil marketers. In the last one month, petroleum products particularly petrol has remained scarce, with the price now gone above the reach of majority of the citizens. Incidentally, the economy is heavily dependent on fuel as electricity, another essential commodity that aids the...
Buzz: 21
Source: Business Day | 0 Comments

‘Asset declaration should be accompanied by valuation report’

The National Vice Chairman, Association of Estate Agency of Nigeria, Mr. Kunle Adedeji, has said that public and political office holders should utilise the services of estate surveyors and valuers to assign proper market values to their assets and their subsequent declaration in order to avoid the use of property acquisition for money laundering. He... [Read...
Buzz: 19
Source: The Punch Business | 0 Comments

Ecobank Nigeria gets $15m US credit line

Ecobank Nigeria says it has utilised a $15m credit line under the United States Department of Agriculture Export Credit Guarantee Programme. According to a statement by the lender, the ‘GSM 102 Programme’ provides a credit guarantee to encourage commercial financing of the US agricultural commodity exports. Ecobank said the credit line had assisted American exporters […] Ecobank Nigeria gets $15m US credit line...
Buzz: 19
Source: Daily Post Business | 0 Comments

NNPC denies owing Lutin N95bn

The Nigerian National Petroleum Corporation on Sunday denied owing Lutin Investment Limited the sum of N95bn, insisting that all contentious issues between the two firms had been laid to rest. With regard to the award of N95bn compensation by a French court against the NNPC in favour of Lutin Investment in a long standing dispute,... [Read...
Buzz: 17
Source: The Punch Business | 0 Comments

Capital Oil and Gas dares petroleum tanker drivers as trucks load fuel

Capital Oil and Gas Industries Ltd has defied the strike embarked upon by petroleum tanker drivers (PTD) as it opened its gates for some of the drivers to lift fuel on Sunday at its depot at Ibafo in Lagos. Conducting newsmen round the firm’s complex, Ifeanyi Ubah, managing director and chief operating officer, said he decided to take the action so as to mitigate the sufferings of Nigerians. He...
Buzz: 17
Source: Business Day | 0 Comments

Nigerians still ignorant about National Housing Fund– Olabode

Mr. Segun Olabode is the Executive Director of Sparklight Property Development Company Limited. In this interview with journalists, he says affordable housing is still out of the reach of many Nigerians; MAUREEN IHUA-MADUENYI was there Many developers talk about providing affordable housing but at the end of the day you find out that what is... [Read...
Buzz: 16
Source: The Punch Business | 0 Comments

Streamline electricity tariff to reflect actual consumption, MAN urges Buhari

The Manufacturers Association of Nigeria (MAN), yesterday, urged the incoming government to streamline electricity tariff to reflect the actual consumption by the industries instead of the current use of estimated bills. The president of MAN, Dr. Frank Jacobs, made this call at the media luncheon held at MAN’s house, adding that, if the electricity tariff is streamlined, it will drive further improvement in power supply and create a special electricity tariff lines for heavy users of electricity like steel, cement and other strategic sub-sector. The post Streamline electricity tariff to refl
Buzz: 14
Source: Vanguard Business | 0 Comments

Iran mulls establishment of auto spare parts plant in Nigeria

Islamic Republic of Iran has said it is considering establishing auto spare parts plants in Nigeria in furtherance of the Federal Government’s newly adopted automotive policy to drive indigenous manufacturing of vehicles in the country. Iranian Ambassador to Nigeria, Saeed Koozechi disclosed this while briefing newsmen at a press conference for the first Iran Solo Exhibition to be held in Lagos in June. The post Iran mulls establishment of auto spare parts plant in Nigeria appeared first on Vanguard News....
Buzz: 13
Source: Vanguard Business | 0 Comments

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