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Business and economic news from Nigeria and around the world.

Udoma assures investors on safety of investment

The Federal Government says it is targeting a 15% contribution ratio of Gross Domestic Product (GDP) through improved tax collection strategies. Nigeria’s GDP ratio is presently...

CBN maintains MPR at 14% in absence of MPC quorum

In the absence of quorum for what would have been the first Monetary Policy Committee (MPC) meeting for 2018, the Central Bank of Nigeria...

AfDB plans a $2bn investment in Nigeria by 2019 – Adesina

The African Development Bank (AfDB) will increase its level of investment in Nigeria from  the present $6 billion to $8 billion.  The President of...

Why  Samsung wont manufacture phones in Nigeria anytime soon

Nigeria might not join the league of countries where Samsung manufactures phones soon, except the proportion of smartphones being used in the country increases....

AMCON donation to IDPs wins USAID-ECR award

Asset Management Corporation of Nigeria (AMCON) during the week received yet another award in Maiduguri, the Borno State capital from USAID-Nigeria Education Crisis Response...

Here is the latest on the bidding for 9Mobile

Unconfirmed reports by the Cable newspapers have suggested that Airtel did not submit a final bid for 9Mobile. This implies that the company may...

These fast food chains will make even more money in 2018

The fast food value chain recorded an impressive performance despite the economic recession of 2016 and early 2017. The growth recorded is not unconnected...

Explained: Why SEC extended the e-dividend free registration again.

The closing date for the free e-dividend registration sponsored by the Securities and Exchange Commission has again been extended to February 28. SEC in a...

Partech Ventures launches $120 million fund for African Startups

Partech Ventures has launched its Partech Africa fund, which has secured above €57M (US$70M) commitments toward its target size of €100M ($120M), making it...

Dangote contracts Mammoet to provide heavy lifting & transport solutions for refinery

During a signing ceremony in Lagos on Tuesday, January 16, the Dangote Group of Companies and Mammoet signed the contract for this ambitious project....

Access bank grants male staff paternity leave

Tier one lender, Access Bank Plc has announced a change in its human resources policy for its staff. Men whose wives have given birth...

Jumia goes tough on its vendors

E commerce giant Jumia, has rolled out new standards vendors on its platform are expected to adhere to.  Chief Executive Officer (CEO) of the company,...

Aliko Dangote’s thoughts on the herdsmen crisis

Africa’s richest man and President of Dangote Industries, Aliko Dangote, has blamed the herdsmen crisis in the country on a high level of unemployment....

These Nigerian banks have been listed for African awards

Nominees have been announced for the Banks of Africa Advertising Awards billed for February 23 at the Johannesburg Stock Exchange, South Africa. This year’s event...

How Nigeria is tied to the global economy

Standard Chartered Bank has predicted a stronger economic growth with rising inflation for the global economy in 2018. The bank revealed this in its...

What the latest Niger Delta threat means for your investments

The relative peace enjoyed in Nigeria’s oil producing Niger Delta may be a thing of the past, if the latest threat by the Niger...

Delay in Lagos-Ibadan rail project explained.

The Minister of Transportation, Mr. Rotimi Amaechi, has expressed worry about a number of unforeseen challenges affecting the construction of a standard gauge railway...

Deloitte is hiring, see if you fit the position

Position summary Role: Office Manager Business Unit: General Location: Lagos About Deloitte Deloitte is the largest private professional services network in the world. Every day, approximately 263,900 professionals in...

Is there really a statute of limitation in the Nigerian tax system?

Statutes of limitations are provisions within laws which set the maximum time after an event within which legal proceedings may be initiated. The statute...

Ecobank Nigeria revises dollar limits for Naira

Tier two lender Ecobank Nigeria has increased the maximum daily limit of its Naira debit cards abroad, depending on the type of card held...

Phase3 does not owe FG N27.2bn over fibre optic agreement

Independent fibre optic infrastructure and telecommunications services provider - Phase3 Telecom has firmly refuted wrong allegations that it and Alheri Engineering limited owe Federal...

Akinwunmi Adesina receives highest honour of the Republic of Liberia

President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, on Monday, January 15, received the Order of the Star of Africa with...

Federal Government pays N11 billion to YouWin awardees

The Federal Government has disbursed over N11 billion to the beneficiaries of the third edition of the YouWiN! programme from 2015 to date. This disclosure...

Atlas Mara ups stake in Union Bank to 48%

Africa focused investment bank, Atlas Mara has upped its stake in tier two lender Union Bank to 48%. Prior to the rights issue, Atlas...

Contract breach: Court awards $10 million damages against shoprite

Nigerian firm, AIC Limited has been awarded $10 million as damages against South African retail giant, Shoprite Checkers (PTY), Limited and its business partner,...

Dispute Resolution: Access Bank upgrades ombudsman for better performance

In line with its reputation for adopting best practices in all facets of its operation Access Bank has announced the upgrade of its customers...

SABMiller,19 other companies to lead $10billion investment drive in Ogun

SABMiller has announced a fresh investments worth over $10 billion expected to be completed in Ogun state this year. This will see the brewing company lead...

Scorecard of the Buhari Administration in 2017

Despite the unimpressive outing of the Buhari-led administration in 2017, there are still laudable efforts like some on-going projects which, when completed, are expected...

This Russian oil giant is eyeing Nigerian oil assets

Russian oil giant Lukoil has opened preliminary talks with Brazilian state owned oil giant Petrobras regarding a purchase of its assets in Nigeria.  Petrobras...

Nigerian airlines should patronise Aero MRO facility -AMCON

The Managing Director/Chief Executive Officer of Asset Management Corporation of Niger (AMCON), Mr. Ahmed Kuru has called on aviation industry practitioners to patronise  Aero...