Friday 19th October 2018,
Hope for Nigeria

Browsing the "Business" Category

Nigerians decry digital services of banks

Nigerians decry digital services of banks: A Five-month survey on banks in Nigeria has revealed customers’ dissatisfaction with some of the digital services rendered by them.Conducted by Agusto&Co and unveiled to journalists in Lagos yesterday, the study indicated that platforms [...]

October 4, 2018 Business

Polaris Bank takes over Skye Bank with N786b fresh capital

From Monday, September 24, all branches of Skye Bank Plc would wear a new identity, known as Polaris Bank Limited, as the latest take over of distressed financial institution in the country. The development, which has been under the direct [...]

September 22, 2018 Business

Dangote is most valuable brand in 50 top brands

Dangote, a wholly Nigerian brand, has been voted the overall valuable brand in the 2018 Top 50 Brands. It replaces MTN Nigeria at the top with 87.4 points against 80.8 point for MTN. Dangote had, in previous editions, held the [...]

September 18, 2018 Business

Abuja drug sellers, street vendors cashing in on codeine ban

Ladi Kwali Street off Constantine street in Zone 4 of Wuse District is one of the most popular areas in the Nigerian capital, Abuja. Aside being the location of the popular Sheraton Hotel, the area is synonymous with one thing: [...]

August 25, 2018 Business

‘Small Dubai’: Kebbi market where you shop at your own risk

The Kalgo Thursday Market is one of the major markets in Kebbi State. The market is popularly known as Small Dubai because of its variety of goods; particularly electronic and telephone products. For this reason and because of the rare [...]

July 22, 2018 Business

Investors lose further by 0.6% as political uncertainties rise

Economic uncertainties and slowdown of market activities have continued to weaken investors’ appetite for equities on the floor of the Nigerian Stock Exchange (NSE) as the All-Share Index and market capitalisation depreciated further by 0.6%. Specifically, at the close of [...]

July 16, 2018 Business

Lagos cooperatives investment hits N152 billion

Ahead of the 2018 United Nations International Day of Cooperatives, the Lagos State Commissioner for Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye, has disclosed that Cooperatives investment has risen to N152billion Addressing journalists in Lagos yesterday, she said the importance [...]

July 3, 2018 Business

Ajimobi reveals when shut Bodija market will be re-opened

Governor Abiola Ajimobi of Oyo State on Friday revealed when the shut Bodija market will be re-opened. The market, Hope For Nigeria recalls was shut Thursday afternoon after a clash reported to have claimed lives of about six people occurred between butchers [...]

June 30, 2018 Business

Dangote deep-sea pipeline to boost Nigeria’s power generation by 12,000mw

The Dangote Group’s sub-sea pipeline infrastructure is expected to augment the natural domestic gas supply and add an estimated 12,000 Mega Watts (MW) to Nigeria’s power generation capacity.  Dangote also has plans to construct a 570 MW power plant within [...]

June 14, 2018 Business

Innoson speaks first time after flooring GTB, explains Supreme Court ruling

The Chief Executive Officer, CEO, and Chairman of Innoson group of companies, Innocent Chukwuma, has spoken up for the first time after winning a court case with Guarantee Trust Bank, GTB. DAILY POST had reported on Thursday that the automobile [...]

June 11, 2018 Business

Makinde challenges Ajimobi to name 10 new industries in Oyo

Oyo State Peoples Democratic Party (PDP)’s governorship aspirant, Seyi Makinde, has challenged Governor Abiola Ajimobi to name the 10 companies he has established in the state. He asked him to state what his 57 foreign trips have attracted to the [...]

May 31, 2018 Business

Nigerian businesses on spot as EU data protection law begins today

The European Union (EU) General Data Protection Regulation (GDPR) implementation and enforcement begins today, May 25, with advice from experts to Nigerian businesses to ensure compliance. The EU GDPR law is one of the most wide-ranging and comprehensive pieces of [...]

May 25, 2018 Business

Enugu safe for investment – Manufacturers

Enugu safe for investment : Manufacturers in Anambra, Enugu and Ebonyi states under the aegis of the Manufacturers Association of Nigeria (MAN) have described Governor Ifeanyi Ugwuanyi of Enugu state as “a visionary and pragmatic leader”, who has brought his [...]

May 17, 2018 Business

SON arraigns Anambra couple for manufacturing substandard roofing sheet

The Standards Organisation of Nigeria,SON, Wednesday arraigned a businessman, Mr Emeka Nwankwo and his wife Mrs Adaobi Nwankwo before a Federal High Court sitting in Awka for allegedly manufacturing substandard aluminium roofing sheet. SON accused Nwankwo, who is the Managing [...]

May 3, 2018 Business

Mixed reactions greet Araromi/Oke-Odo market demolition

Oke-Odo market demolition – Markets demolitions in Lagos state have become Siamese in recent years. Major markets in Lagos have witnessed demolition at the expense of both buyers and sellers in such markets to the profit of the state government. [...]

April 25, 2018 Business

Space Hotel To Launch In 2022 Costs Almost N285,000,000 A Night

Space Hotel To Launch In 2022: Are you willing to take an adventure to space? Orion Span, a US based company has announced that its luxury space hotel Aurora Station will be open in 2022. This hotel will accommodate four guests and [...]

April 11, 2018 Business

Firm seeks U.S partnership to develop national economy

An indigenous oil firm in the Niger Delta Region, Belemaoil Producing Limited, has requested the partnership of the United States to develop the national economy. Founder and President of Belemaoil, Jack-Rich Tein, made the appeal yesterday when the United States [...]

April 11, 2018 Business

Investors lose N239 billion in four trading days

Investors lose N239 billion in four trading days: At the end of last week’s transactions on the equity sector of the Nigerian Stock Exchange (NSE), the bearish performance in the local bourse was sustained as the NSE’s market capitalisation dipped [...]

April 9, 2018 Business

Nigeria, others to spend over $811 billion on oil, gas fields

Nigeria and other countries across the world will spend about $811 billion on 615 upcoming oil and gas fields in the next eight years, a research conducted by data and analytics firm- Globaldata, has revealed. The money, specifically, would be [...]

April 3, 2018 Business

Bill Gates, Dangote sign MoU with 6 governors on immunisation fund

Bill Gates and Aliko Dangote on Wednesday signed Memorandum of Understanding (MoU) with six northern state governors on improved access to immunisation in Nigeria. The governors are Aminu Waziri Tambuwal of Sokoto, Kashim Shettima, Borno; Abdullahi Ganduje, Kano; Muhammed Abubakar, [...]

March 22, 2018 Business

NIMASA plans to acquire 100 new cabotage vessels

The Nigeria Maritime Administration and Safety Agency (NIMASA), has unveiled plans to acquire 100 new cabotage vessels in collaboration with the Nigerian Content Development and Monitoring Board (NCDMB). The Director General, NIMASA, Dr. Dakuku Peterside, who disclosed this at the [...]

February 27, 2018 Business

Ex-Director General confesses he stole N331m to build a hotel

Former Acting Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Calistus Obi, has admitted to diverting N331 million belonging to the agency. The accused said he transferred part of the diverted money to a firm known as Seastroke International, [...]

February 27, 2018 Business

Dangote graduate trainees promise to end fuel scarcity in Nigeria

Newly trained Dangote Refinery graduate engineers have promised an end to the ongoing fuel scarcity in the country when the Refinery takes off. The engineers just returned from a training programme at Bharat Petroleum Corporation Ltd. in India, the company [...]

February 12, 2018 Business

I am not afraid of arraignment – Innoson boss says

This is coming after an Ikeja Special Offences Court issued a bench warrant for Chulwuma's arrest.   The Chairman of Innoson Group, Chief Dr innocent Chukwuma (OFR) has said that he is not afraid of arraignment before any court. This [...]

February 10, 2018 Business

Beware of foreign portfolio investments-driven growth, Nigerian experts warn

Economic experts have warned Nigeria not to be carried away by the influx of foreign portfolio investment dominating the Nigerian Stock Exchange (NSE), noting that a combination of highly mobile portfolio investments and unreliable crude earnings could unravel without warning, [...]

January 18, 2018 Business

Nigeria’s crude oil production hit 2.057mbpd in December

Nigeria’s crude oil production, including condensate hit 2.057 million barrels per day (bpd) in the month of December 2017. This is higher than the 1.93 million bpd including condensate recorded at the end of the third quarter in September. The [...]

January 16, 2018 Business

Court awards $10 million damages against Shoprite for contract breach

After seven years of legal battle, a Lagos High Court, Igbosere has awarded the sum of $10 million against South African retail giant, Shoprite Checkers (PTY) Limited and its business partner, Retail Supermarkets Nigeria Limited for a breach of contract [...]

January 15, 2018 Business

N62,000 rent: Tension grips Ibadan traders over revocation notice

N62,000 rent: Tension is currently gripping shop owners at the popular Scout Camp Market in Ibadan, the Oyo State capital as the expiration of ultimatum given to them by the state government expires tomorrow (Tuesday). HOPE FOR NIGERIA gathered Monday [...]

December 5, 2017 Business
Truck Transit Park to gulp N4.8 billion

Federal Government’s Truck Transit Park to gulp N4.8 billion

Truck Transit Park to gulp N4.8 billion: The planned Truck Transit Park initiative of the Nigerian Shippers’ Council (NSC), would gulp over N4.8 billion, even as investors are jostling to secure a stake in the project. The Minister for Transportation, [...]

November 15, 2017 Business
Mystery buyer pays $36m for Aluko’s New York penthouse

Mystery buyer pays $36m for Aluko’s New York penthouse

Mystery buyer pays $36m for Aluko’s New York penthouse: A yet-to-be identified  buyer has paid $36million for the luxury penthouse at the One57 tower in New York formerly owned by wanted  Nigerian oilman Kola Aluko. Quoting Bloomberg,  Curbed reported that the 79th floor [...]

November 14, 2017 Business